Debbie Brooks Handbags creators Paul and Debbie pitched Shark Tank in Season 3. She creates unique handbags after creating her own when she did not have enough money for a new bag. Debbie Brooks Handbags makes bags for many celebrities including Gwenyth Paltrow. And, she gives Kevin a Shark Tank iPad cover.
Debbie Brooks Handbags launched at Henri Bendel on Fifth Avenue
They launched Debbie Brooks Handbags at Henri Bendel on Fifth Avenue. Paul came up with a magnetic attachment allowing women to change their handbag look easily. They have two patients on their designs.
They have their primary distribution in the jewelry stores, and they are in a thousand stores, often being the only accessory sold in jewelry stores. Paul wants to expand Debbie Brooks Handbags into more stores.
The handbags cost $288 with a wholesale at $130, and markup is 2.2. The secret to their success is that they are selling in a high-end environment that offers an entry-level price point and that is why the jewelry stores love their products.
They did $1.6 million and made $400,000 net in 2011. Debbie Brooks Handbags wants to put 1/3 of the $540,000 into direct to consumer advertising, another 1/3 into trade advertising, and the final 1/3 to increase their inventory. Paul thinks they have substantial licensing opportunities as their brand grows.
Company: Debbie Brooks Handbags
Entrepreneur: Paul d'Auriac & Debbie Brooks
From: New York City
Ask: $ 540k for 20% equity
Companies on this episode: Talbott Teas(update), Nail Pak, Trimi Tanks, Lollacup
Season: Season 3 Episode 312
Sharks: Mark Cuban, Daymond John, Kevin O'Leary, Lori Greiner, Robert Herjavec
First Aired: 04/27/2012
Deal: No Deal
They have a utility process patent on the adhesion of the magnet design.
What do the Shark Tank Investors say about Debbie Brooks Handbags
- Mark Cuban doesn't think he can add value to their business and so for that reason is out.
- Daymond John doesn't think anyone cares about their patents and so he is out.
- Kevin O'Leary likes cashflow, and he asks if anyone would pay 9.3 times cash flow. He thinks the evaluation needs to cut in half. Kevin offers to buy the iPad cover that says, “You're dead to me” because you are, I am out.
- Lori Greiner thinks Debbie Brooks Handbags has a lot of patent issues and for that reason, she is out.
- Robert Herjavec is not sure what they are selling today, and he finds the presentation a little bit confusing, so he is out.
Debbie Brooks Handbags after Shark Tank
Debbie Brooks handbags continue to do well, and despite the Shark Tank turn down, they have a loyal following. You can even buy the purses, iPhone cases and more on Amazon.