A young Australian beauty entrepreneur who turned down a $ 300,000 offer to Shark Tank for her innovative eyeliner “stamps” has reached the Forbes Asia 30 under 30 list just four years later.
Iris Smit, 27, has built a $ 15 million beauty empire since she turned down Andrew Banks’ bid for her product The Quick Flick Seal, a beauty fridge that keeps care products cold of the skin and an adhesive eyeliner for false eyelashes.
The idea for The Quick Flick came up in 2016 when he was looking for an easier way to make his eyeliner winged every day.
The young woman from Perth told FEMAIL that she is honored to have made the list in what has been a difficult time for companies in the Asia Pacific region and that she has big plans for the coming years.
Iris Smit, 27, has been named to the Forbes Asia 30 under 30 list
The Sharks were very interested in their $ 35 product, with Andrew Banks choosing to invest $ 300,000 in the business (pictured Shark Tank)
“I feel honored to receive this prestigious recognition, especially as a young entrepreneur who has been in business since day one,” she said.
“Quick Flick started for me in my living room, and seeing it grow from local businesses to being represented by leading international retailers is a dream come true.”
“It is very encouraging for an industry and a group of people who deserve as much recognition as possible for their hard work. I am very proud to represent the small business industry from Perth to Forbes, ”he said.
The young woman rose to fame after appearing on Shark Tank, where she turned down a $ 300,000 offer for 25 percent of her beauty business.
Iris Smith (pictured) turned the idea of very simple makeup into an incredible $ 10 million profit in one year
Iris was one of 4,000 people running for office on the coveted list this year. The youngest person on the list is only 14 years old, while the average is 26.8.
After its success with Quick Flick and Beauty Fringe Iris created the Quick Screen range with a moisturizing formula, primer and SPF50 + three in one.
She spent two years making products that offer complete sun protection on makeup, and leaving her skin glowing without white marks or a mess.
What is The Quick Flick? The seal that promises the perfect cat’s eye in seconds
For years, Iris spent 20 minutes a day creating the perfect cat’s eye by hand, laboriously trying to fix bugs and treating herself with more than a few swollen eyes.
She thought there had to be a faster way to get the perfect cat eye, and so this self-taught makeup devotee became a self-taught businesswoman.
The $ 35 product is pre-loaded with ink and includes two stamps, one for each eye, and a felt-tipped liner to complete the popular look.
The sunscreen not only protects the face from the sun, but also protects the skin from the damage of blue light from digital devices.
“Growing up in sunny Western Australia, SPF has always been the most important thing I’ve ever done for my skin. However, finding a multi-tasking sunscreen that I was excited to put on my face was tricky,” he said. say the queen of beauty innovation.
“I wanted to challenge myself to really innovate and improve the existing products available to consumers,” the entrepreneur said.
He created a new collection of SPF50 + products designed to be worn with your makeup
He spent two years looking for a simple solution by creating products that offer complete sun protection on makeup, and leaving the skin glowing without white marks or a mess.
“I am very proud to bring to market not one, but two products that perfectly combine skin care and sunscreen and solve many of the problems that consumers face when using sunscreen products.”
Iris first found herself in the world of beauty after launching her brand The Quick Flick, which offers women an easier way to “stamp” a perfect winged tip on her eyelids in seconds.
The young businesswoman, who invested $ 10,000 of her own money in the brand, appeared on Shark Tank in May 2018 just three months after her business.
The “Sharks” were interested in his $ 35 product, with Andrew Banks offering to invest $ 300,000, a deal for 25 percent of his company, just three months after launch in 2016.
He also invented them for those who like to relax with skin care
Iris has built an impressive $ 15 million beauty empire after creating Quick Flick and Beauty Fridge
But five months later, when it was time to sign the contract, Iris realized that her business was worth much more than the offer, with offers from giants like Priceline.
“When the Shark Tank program was filmed, it had only been in business for three months. It was the first few days, but it was already generating more than $ 100,000 a month at that stage,” he told the Daily Mail Australia.
“The show’s sharks valued my business at $ 1 million, but by the time the show aired in May, its rating had already tripled. I wasn’t in the position where I really needed the $ 300,000.
Quick Flick first hit headlines in December 2017 after Iris, then a college interior design student, launched her brand in her two-bedroom apartment and dropped off orders at the office. of mail by means of a shopping cart.
“I had a positive cash flow and already had a lot of retail deals lined up. Signing the deal would also have restricted me from starting other brands like Beauty Fridge.
“I had so many ideas for other products and brands, I didn’t want to limit my career and shut myself down.
“Despite having so many friends and family pushing me to sign the agreement, thinking about it made me anxious. I trusted my instincts, so I knew it wasn’t going well.”
Its products, including The Quick Brow, are now available throughout Australia
The winged eyeliner queen came out on her own and, in 12 months, billed $ 10 million.
“I never imagined that The Quick Flick would explode like it did after the Shark Tank show. The publicity we received was invaluable,” he said.
“Honestly, I think the company grew overnight what other businesses would grow in a few years. It was definitely tough and I had to put in place procedures pretty quickly to make sure we could to keep up with the demand ”.