Cashmere Hair: What Happened To The Brand After Shark Tank?

Anyone who's ever tried hair extensions knows that their quality can be unpredictable. In the endless search for the best clip-in hair extensions, finding that just-right color is already hard enough — who wants to waste extra energy worrying whether the hair will lay right, feel right, and look natural? Frustrated extension enthusiasts, you're not alone. This is the very problem that gave rise to "Shark Tank" alum Cashmere Hair.

Cashmere Hair was started by sisters-in-law Melissa Koren and Rachel Koren, who were fed up with the inconsistent quality of the hair extensions on the market. Melissa was already working as a celebrity hairstylist in Los Angeles, and Rachel often had to deal with hairstyling in her role as a professional model. Deciding that enough was enough, the duo started creating their own extensions by sourcing the best hair, hand-mixing colors, and carefully putting together clips that sat naturally within their own tresses.

When their hair started receiving rave reviews, the Korens decided to pursue their business in earnest, creating the brand Cashmere Hair — and only a few months later, they took their new company to "Shark Tank," looking to make a deal. But not every "Shark Tank" hopeful beats the odds, so how did that TV appearance change the trajectory of Cashmere Hair?

When Cashmere Hair took on the Sharks in December 2013, entrepreneurs Melissa and Rachel Koren led with the transformative potential of their extensions as easy, non-permanent options to enhance hairstyles. Rachel even gave a practical demonstration, removing and then reattaching a full set of extension tracks from her own hair. The two entrepreneurs also emphasized the need that had inspired them in the first place — a dearth of quality hair pieces — and how they undertook exhaustive supplier research to ensure they only used top-tier Remy hair in their products.

Then, it was time to talk numbers. Cashmere Hair was seeking only $45,000 for a 15% stake in the business. In their six months of operation, they had already sold $38,000 worth of product but wanted to continue scaling their operation. Asked about their next moves, the Korens revealed that they wanted to share instructional videos and expand their customer base via "hair parties" hosted at salons.

Unfortunately, while the Sharks were intrigued by Korens' product quality, they were concerned about the price point, competition, and focus on marketing. One by one, all five Sharks bowed out, and Cashmere Hair was unable to secure a deal. Still, the Korens weren't ready to give up on their fledgling company.

Presented with Cashmere Hair, the Sharks had reservations about the brand's ability to secure a solid market share. After all, extensions weren't new — even in 2013, these beauty accessories had already been in play for thousands of years, with a history stretching back to ancient Egypt. As such, other modern companies were already occupying that space in the business landscape. However, Melissa and Rachel Koren were determined to carve out their own place in the realm of hair extensions. With dedication to product quality and catchy color names like "Sunset Blonde," "Beverly Hills Brunette," and "Roxbury Red," Cashmere Hair continued its efforts to disrupt the hair extensions industry.

"It was honestly nerve-racking to be in front of the sharks, especially because we were so new to the whole business," Rachel told the San Diego Business Journal after Cashmere Hair's unsuccessful "Shark Tank" stint. However, she sees the experience as a net positive. "While no deal was made, and it was tough hearing the feedback, it made us better and more savvy businesswomen in the end," she explained, adding, "Looking back now, we are grateful that a deal wasn't made. We've not only done it all on our own, it's also all ours. And that's something we are really proud of."

Today, Cashmere Hair is still going strong with annual revenues of roughly $3.6 million (via the San Diego Business Journal). In fact, the brand only continues to grow, and now offers a comprehensive range of different extensions to suit different customer needs, whether you're looking to volumize thin hair or hoping to seamlessly layer extensions into a short haircut.

It's all the more impressive that the brand has been able to reach success without backing from any of the Sharks. During their original "Shark Tank" appearance, founders Melissa and Rachel Koren mentioned social media as a cornerstone of their sales success so far, and it seems like this has continued to play a key part in their digital marketing strategy. Cashmere Hair currently boasts 14,000 followers on TikTok, 23,000 followers on Facebook, and nearly 92,000 followers on Instagram at the time of writing.

Amid all this buzz, Cashmere Hair has attracted industry attention and made a name for itself in the wedding space by promoting its extensions for bridal hairstyles. This has earned the company accolades such as becoming the winner of the 2024 Wedding Wire Couples Choice Awards. Cashmere Hair has also managed to snag some high-profile celebrity customers. An "As Seen On" feature displayed proudly on the company's homepage shows that Cashmere Hair extensions have been worn by such notables as Ariana Grande, Kelly Clarkson, Melissa McCarthy, Chelsea Lazkani, Megan Maroney, and Alix Earle.

Succeeding in business can be a careful balance of specialization and diversification, and as Cashmere Hair continues to evolve, it looks like this company is dabbling in both strategies. In terms of its starting venture — high-quality hair extensions — Cashmere Hair continues to deliver and earn loyal fans. Consumers have been very receptive to the company's offerings, with over 5,200 reviews left on the site and an average rating of 4.5 stars. As one happy customer wrote, "I have tried other reputable brands and I keep on coming back to Cashmere. They're lightweight, soft, ... and so easy to install. I am a lifer with these."

But Cashmere Hair isn't putting all its eggs in one basket. This brand is becoming a one-stop shop for customers' hair extension needs. Cashmere Hair guides consumers through tips for taking care of hair extensions and even sells special, extension-specific brushes and haircare kits. And that's not all: The company is also branching out into other beauty segments with offerings like its human-hair lashes. With these extras and add-ons upping sales potential to returning customers and Cashmere Hair's bread-and-butter extensions continuing to attract new business, the company seems well-positioned to continue its journey to dominance in the hair extension niche.