Simple Sugars Net Worth

Simple Sugars Net Worth
Simple Sugars Net Worth

Simple Sugars Net Worth /\ Pittsburgh, Pennsylvania is the place of Lani Lazzari’s birth to parents Gina Lazzari and Donald Lazzari. She said that she had eczema as a kid. After graduating from The Ellis School, Lazzari gained acceptance to George Washington University. However, she never showed up for her classes. In 2017, she was granted a Thiel Fellowship.After being dissatisfied with the skin care options available, Lazzari revealed that she attempted to develop a solution on her own.

Once she realised her products had merit, she launched a microbusiness under the name “Simple Sugars” in 2005.Lazzari sought an investor for her cosmetics company, Simple Sugars, on the American reality show Shark Tank in 2013.In her presentation, she used Lori Greiner to show off the product.Mark Cuban, one of the “sharks,” offered $100,000 for a 33 percent share.

It was an offer that Lazzari couldn’t refuse to work with Cuban. After an entire year had passed, Lazzari returned to Shark Tank to give an update on his company. It has been said that in 2005, at the tender age of eleven, mLazzari began experimenting with skincare, making homemade treatments in her mother’s kitchen. When asked about her frequent visits to the dermatologist as a child, Lazzari said, “I was one of those persons who was constantly in the dermatologist’s office” due to her recurrent attacks of eczema.

Lazzari’s initial scrub, made up of sugar, vanilla, and almond oil, soothed her delicate skin. She eventually started peddling homemade scrubs at craft fairs and farmer’s markets. Lazzari opened her first e-commerce shop, Simple Sugars, when she was just 13 years old.

Lazzari explained, “I spent so much time running the day-to-day business that I didn’t have time to expand the company.” Lazzari skipped her junior year of high school so that she could run the business and take classes at her own pace during her senior year.

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In 2011, she took another six weeks off to go on a publicity tour from Pittsburgh to Los Angeles. Lazzari had recently turned eighteen and incorporated the business in her own name. She tried to apply for a loan or line of credit but was ultimately unsuccessful.

Soon after Lazzari finished from college in 2012, she was called by “Shark Tank” producers at ABC. Although Lazzari made his “Shark Tank” pitch in September 2012, the programme didn’t air until March 2013.

Simple Sugars Net Worth

Mark Cuban, whose child had eczema, was able to be convinced to contribute $100,000 and receive 33% ownership in exchange for a contract she negotiated with her. Simple Sugars saw a 600% increase in sales after their appearance on Shark Tank, bringing in $600,000 in just three days.

The company’s sales topped $1,000,000 in just six weeks. That time was the “craziest phase of her life,” as Lazzari put it. Lazzari predicted that revenue would be in the $20,000 to $50,000 range. To be honest, we didn’t think we’d make a million.

There were only three people employed by Simple Sugars at the time: Lazzari, her mother, and two part-timers. Lazzari urgently required the services of twenty-two more employees, so he set out to discover and hire them. Keeping up with demand required her to buy 600 bags of sugar every day.

“It was a make-or-break period for the firm and a substantial task,” Lazzari said. I learned more in the two months following the programme than in the seven years I had been running the business on my own.

The 2013 fiscal year saw $2.35 million in sales for Simple Sugars. In a CNBC interview from November 2014, Cuban called Simple Sugars one of his best Shark Tank investments to date. Business Insider later named the company one of the 12 most successful Shark Tank startups.

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“Mark Cuban has been an excellent advisor and business partner,” Lazzari remarked. He gives me complete autonomy in running my company and trusts my judgement. Pittsburgh-based Simple Sugars currently has 13 full-time employees, and expects 2018 revenue of $2.5 million.

All of the company’s products are still made by hand in a factory near Pittsburgh. In order to retain her devoted customer base, Lazzari has stated that she will be instituting incentive programmes. You can find Simple Sugars online, but you can also find it at retailers like Beauty Brands, Dillard’s, Central Market, and Giant Eagle. Lazzari, who debuted her “Smooth for Men” line in 2016, is now working on her “Smooth for Babies” line.

Furthermore, the company consistently rolls out new versions of its aromatic face, body, and foot scrubs. Lazzari says, “Our method is built on the idea that skincare should be simple.

No, we are not attempting to sell an entire line of items. Putting it plainly, we’re aiming to promote a product that can do multiple jobs. Without a shadow of a doubt, “Shark Tank” had a huge effect. Two people made up Simple Sugars before the show aired.

She hired twenty-two people in a week to meet the unexpectedly high demand, and then made them work around the clock for a few weeks. Over 70,000 new customer orders were generated as a direct result of the event, giving us the impetus and foundation for future growth. According to CNBC, Simple Sugars has earned more than $30,000,000 as of 2018.

Simple Sugars Net Worth
Simple Sugars Net Worth