Sugardoh, a plant-based hair removal company founded by Aliyah Marandiz, aired on the 16th season of Shark Tank USA in 2024. The founder was seeking $500,000 for 5% equity, valuing the company at $10 million. Unfortunately, she couldn’t secure a deal with any of the Sharks. In this article, we will explore Sugardoh’s net worth in 2024, details of the Shark Tank pitch, and more.
Sugardoh Net Worth 2024 & Financial Overview
After the show aired, the company experienced significant sales, with an estimated growth rate of 10% per year. Based on the company’s growth rate and founder’s company valuation before the Shark Tank show, Sugardoh’s net worth is estimated at $8.78 million in 2024.
| Annual Sales Revenue | $5.6 million (2023) |
| Profits | $3.3 million (2023) *estimated |
| Lifetime sales | Not Available |
Shark Tank Sugardoh Pitch
Aliyah Marandiz, an entrepreneur, introduced her sugar-based hair removal product, Sugardoh, on Shark Tank Season 16. She came up with the idea while looking for a gentle waxing solution for her sensitive skin. Using an ancient Egyptian method called sugaring, Aliyah made a natural wax from just sugar, water, and lemon juice. This process removes hair from the roots in a less harsh way.
During her pitch, she asked for $500,000 in exchange for 5% of her company, valuing it at $10 million. There, Aliyah explained that she needed the investment to pay off debt, boost her inventory, and grow her business in the competitive market.
Kevin O’Leary questioned the $10 million valuation of Sugardoh, pointing out that sugaring is an ancient method and cannot be patented. At that moment, Aliyah explained that she had spent two years creating a unique manufacturing process and formula that gave the company intellectual property rights.
Sugardoh’s valuation reflects its rapid growth. After launching in September 2020, it earned $50,000 in revenue by year-end. In 2021, sales jumped to $2.6 million thanks to TikTok going viral, and by 2023, sales hit $5.6 million. In 2022, Sugardoh had a 60% profit margin, much lower than the 85-90% required for retail profitability, leading to a 7% loss (around $447,000).
To support the business, Aliyah and her husband invested $400,000 of their own money. However, the company still carries $1.5 million in debt with a high 22% interest rate and holds $1 million in inventory, creating ongoing financial challenges. However, Sugardoh recently improved its profit margins by around 80% by changing suppliers and refining its manufacturing process.
However, Mark Cuban admitted he didn’t fully understand the product or the industry and decided to drop out first. Next, Kevin O’Leary said the valuation was too high for him and also decided to not invest. Daymond John then felt the investment would take too long to pay off, so he also stepped out of the deal.
Guest shark Kendra Scott was also concerned about both the high valuation and Sugardoh’s debt issues, which led her to decide not to invest in the product. Lori Greiner recognized the challenges Aaliyah faced and their financial struggles. However, she believed the requested investment would not solve these problems, so she also decided not to invest as the final shark. Unfortunately, In the end, Aaliyah left the tank without securing an offer.
| Company Name | Sugardoh |
| Founder | Aliyah Marandiz |
| Business | A plant based hair removal product |
| Episode | Season 16, Episode 03 |
| Asked Deal | $500,000 for 5% equity |
| Final Deal | No deal |
| Sharks | No Sharks |
Summary of the Sharks’ Deal
| Shark | Offer | Counteroffer |
| Mark Cuban | No | N/A |
| Kevin O’Leary | No | N/A |
| Lori Grinear | No | N/A |
| Daymond John | No | N/A |
| Kendra Scott | No | N/A |
What Happened to Sugardoh after Shark Tank?
As of November 2024, the Sugardoh is still in business. Just weeks after filming its Shark Tank episode, Sugardoh celebrated its fourth anniversary. Even though Sugardoh didn’t secure an investment on Shark Tank, the show helped boost sales and raise brand awareness.
Also, after appearing in Episode 3 of Shark Tank Season 16, Aliyah Marandiz shared a message on Sugardoh’s official Instagram, which has over 63,000 followers. She greeted new followers, saying, “Hi, if you’re new here, it’s probably because you found us on Shark Tank. My name is Aliyah Marandiz, and I want to welcome you to Sugardoh personally. We’re making hairy people happy with our at-home sugaring kits, one of the most sustainable hair removal options out there.”
Today, Sugardoh thrives with products available at major retailers like Ulta Beauty, Walmart, and Urban Outfitters, as well as online on Amazon and its website. Also, the founder is focused on improving profit margins by lowering manufacturing costs, and the company is expected to grow more than before. Aliyah has worked hard to expand the product line and find new ways to connect with customers. She will continue to use TikTok and other social media platforms to educate customers about sugaring and grow her loyal following.
Sugardoh Founder
Aliyah Marandiz is the founder of Sugardoh, which started in 2020. Aliyah Marandiz has a background in marketing and has worked with companies like Kurbo Health, Jones-Dilworth, Inc. (JDI), and Target. She has also taken on freelance projects as a designer and marketer. She earned her bachelor’s degree in Sociology and Studio Art & Design from Santa Clara University in 2017.
Aliyah Marandiz created Sugardoh after struggling to find a gentle waxing solution for her needs. With a dark complexion, sensitive skin, and coarse hair, she often left $60 waxing sessions with red, irritated skin. Determined to find a better option, she researched alternatives and discovered sugaring, a popular Middle Eastern hair removal method.
Using simple ingredients, she made her first batch of sugar wax in her dorm kitchen during her first year. Even in her early experiments, the results amazed her. Unlike traditional strip waxing, sugaring caused less pain, reduced hyperpigmentation, minimized ingrown hairs, and left her skin feeling soft and smooth.
Aliyah Marandiz spent five years perfecting her sugar wax recipe, treating it as a personal DIY (Do It Yourself) project. During this time, she worked various jobs, moving from event coordination to tech marketing in 2017. Despite her efforts, working for low pay left her feeling burned out.
Then, her husband encouraged her to turn her sugaring solution into a business. This inspired her to restart her research again. She noticed that most sugaring kits were either DIY projects or meant for professional salons. There were no ready-to-use options available in local stores, which sparked the idea for her business.
Aliyah Marandiz launched Sugardoh in 2020 during the COVID-19 pandemic and began promoting it through TikTok. Her videos included tutorials for beginners and explained how Sugardoh was better than traditional hair removal methods. One video went viral, leading to a surge in sales that kept growing.
Sugardoh Achievements and Awards
| Year | Achievements and Awards |
| 2024 | In 2024, Sugardoh earned the title of Ulta’s Black-Owned Brand of the Year, a major accomplishment for the brand The company was featured on Shark Tank Season 16 |
Conclusion
Shark Tank is a TV show showcasing different business ideas, helping them succeed. Sugardoh was one of the ventures featured on the show. Despite the loss of the deal, the company showed that success is possible with the right idea and execution. Now, we eagerly await to see how their success story unfolds in the future.
Before you leave, check out the other company updates in Season 16, Episode 03.
- Kobee’s Lip Balm Net Worth 2024 Update & Their Shark Tank Pitch!
- Yardsale Net Worth 2024 Update & Their Shark Tank Pitch!
- Doatnut Net Worth 2024 Update & Their Shark Tank Pitch!
