M3 Girl Designs Shark Tank Pitch
M3 Girl Designs is a jewelry company for girls age 8 to 80 years old. They made their own magnets out of bottle caps and her friends saw them so they created a necklace called SnapCaps. They took them to a local toy store in Dallas and sold out of all of them within two hours of putting them on display.
M3 Girl Designs expanded their jewelry line called Spark of Life that is in over 1,000 stores and has sales of over $5 million with $1.6 million in the year before their Shark Tank pitch. The profit on $1.6 million comes to $1 million.
They started with a few local stores in Dallas, and now they have 10 sales representatives marketing their products which are handmade.
They have a $.75 margin on SnapCaps and Spark of Life has a $2 margin. The most expensive piece of jewelry is $10. They are seeking the money to take them to Global distribution.
M3 Girl Designs Episode Data
- Company: M3 Girl Designs
- Entrepreneurs: Maddie, Margot and Diane Bradshaw
- Ask: $300,000 for 15% equity
- Episode Season 3 Episode 305
- Companies in this episode:
- First Aired: 02/17/2012
- Deal: Lori Greiner, Mark Cuban, and Robert Herjavec $300,0000 for 30%
What do the Shark Tank Investors say about M3 Girl Designs?
- Mark Cuban – offers to partner with Lori, and wants to take the deal to 30% for $300,000. Maddie asks for Mav's season tickets. He said they are sold out, but they can come sit in his suite anytime they want.
- Daymond John – is clearing the field, and says there may be other Sharks who are more beneficial. He is out.
- Kevin O'Leary – offers $300,000 for 30% equity. Kevin thinks they can make them for 30% less. He is dropping down his deal to 30% and offers to have Robert join him into the offer. Robert accepts Kevin's offer to come in with him.
- Lori Greiner – wants to go in with Mr. Wonderful, and he has to be a silent partner, she wants to take 40% and she will personally mentor them. She will get them into QVC, and into retail stores everywhere.
- Robert Herjavec – says their is a lot of hot air coming from Lori. Robert doesn't think Maddie wants to give up 30%. They want Lori, Mark and Robert for 20%, but Robert insists they stay at 30%.
M3 Girl Designs after Shark Tank
M3 Girl Designs ended up going out of business after the show and after several lawsuits that they filed saying infringement. There are rumors that they did not actually have the patent, and Maddie did not invent the jewelry, but I have not seen anything official to prove that. None the less, it is gone.