Dragons excited by vegan beauty product | Dragons’ Den

Dragons excited by vegan beauty product | Dragons’ Den


Confident they’ll have better fortune in the den are hairdressers turned entrepreneurs, Russian Denis Kovalyov and Australian Rob Forgione. We’re very passionate, it’s 24/7. I don’t think we would have got this far and come today if we didn’t think we could do it. Hello dragons my name is Dennis and this is Rob. We’re pitching here for you today for 80 thousand pounds investment in return for 8% equity. We would like to introduce you today a multi award-winning PETA certified infusing color shampoo infused my colour. We noted a gap in the market of coloring shampoos we created a quality product that’s free from and vegan. The product comes in five shades colors hair from dark brown right through to blonde. Just wash the hair rinse it through and adds color instantly. Since launched in February 2017 we have sold just under forty five thousand bottles. Generating two hundred and forty eight thousand pounds in revenue with gross profit of hundred and seventeen thousand pounds. Infused my colour hit the niche market by storm with retailers like boots Amazon and was selected retailers across the globe. Our main plans for brand development is expansion is the USA market. We would like to welcome you to try some samples and any questions is really welcomed A colorful pitch – “Have you got my shade correctly?” – from hair care entrepreneurs Dennis Kovalyov and Rob Forgione II a “Vibrant reds and candy pink” They want a zingy 80,000 pounds in return for 8% of their vegan, free from, coloring shampoo range. Peter Jones is first to probe the product. So basically in essence it’s a range of color wash shampoo. Yes correct, it is shampoo which infuses hair color with a pigment. Is there an issue with it with regards to daily usage. It’s a vegetable dye a molecule that dissolves biodegradable. It doesn’t stain skin or scalp so it’s not bad for the hair, no. Guys what’s your target customer. With actually any hair type – for instance on your hair you could use the copper tone and would give a nice gloss to but who is buying your product who’s your target also our target audience the person who is younger audience hears up to 25 years old this is the customer who wants this results it’s extremely bright this die isn’t it it is yeah and your hand is very bright but it’s very price I think some consumers out there buying four or five colors and creating it this galaxy hair look at home sending me videos of what they did I’m like do you want a job as a hairdresser you’re 15 I’ve never done hair before and you’re creating unicorn hair that’s incredible unicorns may well be a first in the den but now the dragon behind a multi-million pound health and beauty empire wants to know if the business opportunity is too good to be true can you tell me who your competitors are we have a lot of competitors in terms of the color enhancing products however we have a unique offering of the quality of the ingredients and the color delivery you the only guys doing the vegetable dye we are the only PETA certified vegan and cruelty-free brand and apart from boots which other stores do you think this would work well we’re talking to Superdrug we are creating for them a special edition pride artisan you know in terms of your distributions exactly where my products are so I’ve got a beauty supplement for skin hair and nails the number one in the country we sell it to foods and then of course super drug do you have any idea of the market size in the UK for color dyes this is where the high for the bright color started and it’s only growing and the biggest in the world at the moment is the USA market and we have waken now really hard on go to market plan with the USA guys are you talking to distributors in the US or you at very early stages where you’re thinking which way do we go we’re shortlisted to just one at the moment and have you done some research into the US market what’s the closest product to this on the consumer side is a very similar to the selection that’s available here from the multinationals at the same sort of price point so yeah but they haven’t got the veganism at them no none of that not yes and it’s a big do us a love organic they live vegan certainly California does yeah a standout ethos and an untapped market give the hair care entrepreneurs an impressive edge but will their numbers wash with touka Suleiman what’s your forecast for the next 12 months because we’re expanding into the USA we’re talking about 900,000 pounds turnover gross profit gross profit would be about 350 350 yeah and what do you expect net on the 350 net profit yeah because it’s we’re allocating 25 percent of our turnover into the marketing so the net profit mean you’ll lose money probably yeah how much will you lose approximately fifteen thousand fifteen guys how much we spent so far in yes in we’ve put together about eighty thousand pounds and what’s the shareholding is it just 50/50 you’ve not had to give any away any energy anywhere yeah it’s very good totally self-funded and what was your motivation to take this step we actually married recently a year I think the whole story why we started because we had a huge experience working for big brands and we both wanted to create something unique but you have got a pretty hefty valuation on this business fifty thousand for eight percent that’s a million pound business isn’t it yeah on something that’s only turned over a quarter of a million and made very little money so far so how do you justify that large valuation based on the probe of what the retailer would like to acquire based upon its future potential structure because I really like it I like the product it’s fun it’s funky so you guys you know your stuff as well I can tell you really really know your stuff I’m not so keen away your numbers are up to at the moment you’re not really making any money was some way to go to making this into a profitable business so I’m going to politely decline because it doesn’t quite fit with what I’m doing and where I’m going at the moment so I wish you all the best I’m out thank you a major setback for the entrepreneurs as Jenny Campbell offers plenty of compliments but no cash his Peter Jones primed to show them the color of his money I’m extremely conflicted I’m involved in another brand we have four different variants of colorways on shampoo and conditioner I feel that it would be disingenuous of me to even consider investing in a business like this when I’ve got a conflict elsewhere so I’m gonna declare myself out thank you well I like it what’s not to like about it you know look it’s great what color are you going to go for I might scare you all and come in here wow they’re the stumbling blocks your valuation there’s a long way to go and a lot of opportunities to make mistakes but I’m going to make you an offer and I going to offer you all of the money but I want 25% of the business what everybody else think of excuse my color the boys would be very shy about it aren’t they hmm I like it what do you want the dragon expertise because we expanding into their foreign market yep we do not have that experience so we need guidance and we need support I’m gonna make you an offer and I believe I can offer you the mentorship the markets how to approach the u.s. you’ve got the product right the product speaks for itself but I think it’s a bit more that you’re gonna need along the way so I’ll give you all of the money eighty thousand by also want twenty five percent two offers on the table is health tycoon pays Levani about to up the ante okay I guess it’s just me left Dennis and Rob I think you guys have done everything right so far and congratulations I think you know I actually think this can be a very big brand 50 million pounds or more and I feel this is my area of expertise I deal with all the major supermarkets and pharmacies stores I’m regards to international I sell in about a hundred countries so I’ve got distributors in every country so I am gonna give you an offer and that’s all of the money for 25% can I have a minute please go to the wall an impressive three dragons vying for the entrepreneurs business but they are all demanding 17% more equity than the 8% the entrepreneurs wanted to give away have Dennis and Rob got the nerve to negotiate is it any of you to devaron Taj will be willing to refuse the stake you haven’t asked me so I’m assuming you interested me you know I hear what among Korea where I’m not discipline anyone know where I can take a rejection so on that basis guys I’m out thank you no joy for a jilted to Co Suleiman can’t age Levani or Deborah Medan seal a deal look I mean the thing is I know I can add value that’s directly beneficial to your business if I got my money back in two years I’d drop it to 20% but that’s the best I could do kevrah you’re in a very very tender stage of the business now you’re not as far along as I think you possibly think you are it’s very easy to say we can go into the u.s. you know always takes longer it always costs more money you know yeah so I’m going to stick with what I think is a fair offer we’re gonna accept ours yourself or please wait he’s a great dragon you’re done guys thank you thank you thank you so more than just a good hair day for Dennis and Rob who exit the den with the backing of an expert in the business of beauty we’ve got what we came for and we’ve got amazing dragon on board we are really really thrilled I look forward to having pink and gold and blue hair of the week what color are you gonna go me I’m gonna go with gold gopher go you

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About the Author: Oren Garnes

100 Comments

  1. debra thinking she knows about usa shes dumb all of thema re dumb AND NEVER WORKE DIN THERE LIFE EXCEPT FOR PETER I LIKE

  2. I thought in the lift they were going to celebrate by passionately kissing each other, using tongues and fingers.. Love to see how the cameraman would have reacted

  3. I’m new to this and have just binged a bunch of episodes. But after watching Jenny breathe…for that reason, I’m out.

  4. Peta certification is really easy to get. You basically sign an agreement that you don't test on animals. But wheather the raw materials that you source out are testet on animals is an entirely different thing. You might not do it in the formulation process but it has been done during the developement of the raw materials.

    Edit: I said the word out, Jenny just got triggered.

  5. Jenny should be taken out of this show.
    Such an uninteresting character and does not have the aura of a dragon. More like school principal.

  6. I'm loving these pitches, and this one especially ~ Their pledge for cruelty free products 🙂

    There's room for this niche and I wish them the very best of success with Tej. ♡ #ExcellentChoice #GodBless

  7. When I was a wee lad, if two people turned up in Trainers, looking for an investor. noo way. how the world has changed

  8. 7:23 the way Peter and Tej look at each other when Jenny says she likes the product 😂 They know she’s going to ramble on about how she really likes it and then declare herself out anyway.

  9. They are wrong, Superdrug sell vegan, cruelty free vegetable dyes, erm Manic Panic, Directions… Bleach London? Loads of them. Even the Live Colour semi permanents

  10. most bent bananas in the den since reggae reggae started cooking plantin for peter jones cuckold wife

  11. Damn whats the point of it being vegan when you have to have have your hair pre-coloured with cruelty brands in the first place…would have totally bought it. its just a touch up shampoo not an actual dye.

  12. I feel very sorry for Touker Suleyman. Whenever he and other dragons make an offer, the entrepreneurs refuse his offer and he has to always declare himself out. This has happened so often.

  13. Notice Jenny Campbell chuckling at 11.58. She always revels when Touker Suleyman gets rejected. What an evil woman.

  14. Jesus Jenny…. i like the product, its exciting, i like you and you really know your stuff….. I'm out. She's such a wrongun.

  15. jenny i swear to god "i really like it"….goes out 2 seconds later. what else could you have need to make an offer? an untapped market, a very clear distinction from competitors, a chance to get in early. what is wrong with this woman????

  16. Jenny: "This business doesn't quite fit where I'm going at the moment"
    Jenny… you're such a laughing stock even BBC is making fun of you, you almost never invest in anything, and your portfolio's about as thick as 1 ply toilet paper.
    Where exactly are you going?

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