The latest installment of Shark Tank Australia premiered last night, with the spotlight on Boring Without You, an Australian skincare brand at the forefront.
The company presents itself as a purveyor of “authentic beauty solutions,” catering specifically to the often overlooked category of ‘combination skin’.
Brand founder Davey Rooney faced a barrage of offers from four out of the five sharks, including Jane Lu, the dynamic CEO of the online fashion haven Showpo; Robert Herjavec, a seasoned regular from Shark Tank US; and the proprietor of Oodie, Davie Fogarty.
The Sharks escalated the proposed valuation, inflating the business’s worth by 38 percent compared to Rooney’s initial appeal. Ultimately, it was Oodie’s owner, Fogarty, who clinched the deal, securing a substantial 20 percent stake in the burgeoning skincare enterprise.
Davey said: “This is just the start of something greater. I couldn’t be more delighted with the outcome. I didn’t even possess a comprehensive business strategy, but with the assistance of ChatGPT, I managed to craft one for the show, leading to this partnership with one of Australia’s most eminent entrepreneurs. Grand undertakings await, and this collaboration will extend our reach to a wider audience.”
Davey, who also boasts a background in cosmetic science, conceived the concept during a period of distressing workplace bullying.
As a form of escape, he would embark on solitary walks to ponder societal issues and contemplate potential solutions.
One such stroll led him to Chemist Warehouse, where the absence of products catering to individuals with this prevalent mixed skin type caught his attention.
“For individuals with combination skin, the norm is to have one facial area oily and another dry. This makes makeup application, blemish treatment, and finding suitable skincare a formidable challenge. Our goal is to simplify matters for these individuals by offering evidence-based cosmetics enriched with potent ingredients that genuinely transform their skin,” he said.
The brand’s top seller, For Face Sake, is a multi-mask, featuring two distinct formulations within a single container. The airy butter component manages oil production and eliminates blackheads on the forehead and nose, while the soothing jelly counterpart alleviates hormonal blemishes and imparts deep hydration to the cheeks and jawline.
Boring Without You has found huge success on social media platforms and has garnered attention from celebrities such as Anna Paul and Flex Mami.
Read the current issue of our digital magazine below:
- For more news and updates, subscribe to our weekly newsletter
- Follow us on Instagram
- Like us on Facebook
- Connect with us on LinkedIn