LAS VEGAS — The future just got brighter for 100% Pure, a natural cosmetics line made with pigment from fruit. The company was selected by entrepreneur and “Shark Tank” judge Mark Cuban as the winner of the inaugural Beauty Pitch held here Sunday.
A partnership between the Professional Beauty Association and Cosmoprof North America, the Beauty Pitch will be a recurring feature offering upstart companies tools to grow. This year’s prize was a one-year mentorship from Cuban.
Five up-and-coming lines, pre-selected from entries submitted to a panel of industry experts, presented their products to Cuban, John Paul Mitchell Systems chief executive and cofounder John Paul DeJoria, Melissa Goldstein of Martha Stewart Living Omnimedia Co. and Martha Stewart Weddings and Neil Parmar of Inc. Magazine. In addition to 100% Pure, the panel heard from 18.21 Man Made Company (who won the audience favorite award), Hair Construction, LightStim and Zenagen.
In the end, it was the process that 100% Pure has perfected that separated it from the contenders, said Cuban. “If you are able to extract the impurities, dyes and anything non-natural to be 100 percent natural then it has applications, not just in beauty, but other areas. He was also impressed with the $20 million the firm racked up in 10 years.
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Company founders Susie Wang and Ric Kostick said they hope Cuban’s mentoring can take them to the $200 million level in the next four years. Lani Lazzari, founder of Simple Sugars, a company Cuban invested in on “Shark Tank,” advised the entrepreneurs to be direct in dealings with Cuban. “Don’t beat around the bush. Be direct in your requests and you’ll get his honest advice.”