‘Shark Tank’ founder turned her grandmother’s herbal remedies into a skincare brand — and scored a deal
Kristen Dunning had experienced severe skin issues in her past. While she used prescribed creams, nothing really helped. What gave her relief were her grandmother’s herbal remedies. Notably, Dunning turned these remedies into a business. Appearing on ‘Shark Tank,’ she introduced Gently Soap, a plant-based product specially made for people with sensitive skin. Seeking $75,000 for 10% equity, Dunning introduced herself as an MBA graduate from Athens, Georgia.
“Humans deserve to feel joy, and no one should be robbed of joy because of their sensitive skin,” Dunning mentioned. Sharing details further, she said, “I have had eczema my entire life. And because of that, bath products would cause my skin extreme pain.” Telling the sharks that bath bombs, soaps, and bubble baths would irritate her skin, she made hand gestures as she also screamed. Continuing, Dunning mentioned that the additives and chemicals were the reason for skin irritation. Introducing her product, Dunning mentioned, “Rooted in the agricultural legacy of my grandparents, I spent 3 years in greenhouses studying horticulture to learn more about the power of plants. Harnessing that power, I created Gently Soap.”
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Her soaps eliminated essential oils as well as synthetic fragrances, which were the root cause of “serious irritation.” Next, Dunning gave out samples to the sharks, which they liked a lot. However, the guest shark, Candace Nelson, took special interest in it. According to Shark Tank Recap, Dunning had launched Gently Soap in February 2021. By the time she appeared on ‘Shark Tank,’ Season 15, her company had made $113,000 in total sales. The previous year, Dunning had generated $66,000 in revenue and a profit of $38,000. Dunning told the sharks she sells her soaps online and was aiming to launch them on Amazon soon. Talking numbers, she mentioned that each bar of Gently Soap costs $2.38 to produce and retails for $11.
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In a deal, Dunning also offered a pack of four bars for $40. Shedding light on reorders, she explained 78% of her orders come from repeat customers. Emphasizing how 71% of Americans have sensitive skin, Dunning also detailed that the number has grown by 55% within the last two decades. Lori Greiner became the first to express herself. She cited conflict with a competing brand and chose not to make any deal. Mark Cuban passed on the deal as well, expressing that he did not connect with the skincare niche. A similar sentiment was echoed by Daymond John, who exited the deal as well.
However, Kevin O’Leary offered Dunning $75,000 for 10% equity. His deal also included a $1 royalty on every bar sold. Mr. Wonderful also mentioned that after he gains his $500,000 back, the royalty would be $0.20 per bar in perpetuity. Jumping in with her deal, the guest shark offered Dunning $75,000 for 30% equity with no royalty. Moreover, Nelson also offered to connect Dunning’s brand with Thirteen Lune, a beauty retailer. Dunning countered Nelson’s offer with 15% equity. With the shark still sticking to her deal, Dunning countered again with 20% and finally 25%. The Guest shark accepted the final offer and shook hands with Dunning.
