ENTREPRENEUR: Paul d'Auriac & Debbie Brooks
PITCH: Debbie Brooks Handbags
ASKING FOR: $540k for a 20% stake
BEST PART OF THE PITCH: Debbie and Paul met on a blind date. They've been married for 15 years and have a baby girl. One day, when money was tight, Debbie was forced to make her own handbag. A woman chased her down in the airport because she loved her homemade bag. One thing led to another and they took their designs to a retailer. They developed a "magna-fab" concept which is a removable magnet that attaches to the front of the bag so you can change designs. The line has had success in jewelry stores.
DO THE SHARKS BITE? Kevin is concerned about the evaluation of the company. Lori has some concerns about the patents. Daymond, too. He's out. Mark likes the fact that they sell their product in jewelry stores, but he's not a purse guy. He can't add value to the product, so he's out. Robert was a little confused by the presentation, so he's out. Kevin is also out. Lori follows suit, as she thinks there are lots of patent issues. Looks like Paul and Debbie will have to find someone else to put cash in their handbags.