Many Shark Tank viewers were surprised to see Mark Cuban and Lori Greiner invest $500,000 in the men’s grooming business Manscaping. In fact, many viewers were surprised that there was a men’s grooming business centered around Manscaping — and that it was a booming business too, with $1.5 million in sales last year. But manscaping, the trimming and all-around maintenance of a man’s private area, is a logical leap from the metrosexual trend that has been with us for a while. Cuban struck many as an odd fit for the brand, but given his history Cuban’s interest isn’t as odd as it might seem at first. Though he made his billions in the tech industry, Cuban has shown an aptitude for picking consumer products that people want. And he’s made the grooming and personal care sector part of his vast portfolio.
On Shark Tank alone, Cuban has invested in a collection of grooming and personal care products, many of them focused on men. Cuban-backed personal care brands aimed at men or including men-specific product lines include Simple Sugars natural skincare brand (“Smooth For Men”), The Longhairs (a community and product-seller for men with long hair) and highly successful Dude Wipes (“a flushable, biodegradable, hypoallergenic toilet wipe just for guys”). Greiner will be taking Manscaping to QVC to drive sales — notably a big part of Manscaping sales derive from women purchasing the product as a gift for men. Cuban will likely continue to add more personal care brands to his portfolio for the simple reason that the trend is growing. Like all excellent entrepreneurs and investors, Cuban looks for sectors displaying high growth opportunities. (Dude Wipes, btw, might be a good follow up to Manscaping.)