On The Profit, investor Marcus Lemonis travels to North Carolina to visit the family-owned hair care company Ashtae. Husband and wife Michael and Ramona Woods launched the company in 1994. (It’s named after their two daughters, Ashley and Taylore.) According to The Profit, Ashtae is “suffering” because of Michael Woods’ “costly side projects.” The Woods own a large building with many commercial tenants including a dance theatre, a photography studio, a church, and a hair salon (which fortunately uses Ashtae Products). At the salon, Lemonis gets an Ashtae shampoo and admits that his hair is “a lot softer” than when he walked in.
Lemonis likes the product but not the packaging which he says has a wholesale look to it. Lemonis convinces Michael Woods to rebrand the Ashtae brand and product so it looks more like a consumer product (see below). The Profit airs Tuesdays at 10pm on CNBC.
L to R: Ashtae on The Profit; Ashtae after The Profit (Ashtae.com)
