A young Aussie beauty entrepreneur who declined a $300,000 offer on Shark Tank for her innovative eyeliner ‘stamps’ has made the Forbes Asia 30 under 30 list just four years on.
Iris Smit, 27, has built a $15million beauty empire since rejecting Andrew Banks’ offer for her product The Quick Flick stamp, a beauty fridge that keeps skincare products cold and adhesive eyeliner for false lashes.
The idea for The Quick Flick came in 2016 when she was searching for an easier way to do her winged eyeliner everyday.
The young Perth woman told FEMAIL she is honoured to have made the list in what has been a difficult time for businesses in the Asia Pacific region – and has big plans for the years ahead.
Iris Smit, 27, has been named on the Forbes Asia 30 under 30 list
The sharks were hugely interested in her $35 product with Andrew Banks choosing to invest $300,000 in the business (pictured on Shark Tank)
‘I am honoured to receive this prestigious recognition, especially as a young female entrepreneur who has been business to her bootstraps since day one,’ she said.
‘The Quick Flick started for me in my living room, and to have watched it grow from local business to now being represented in major international retailers really is a dream come true.’
‘It is very encouraging for an industry and group of people who deserve as much recognition as possible for their hard work. I am so proud to be representing the Perth small business industry in Forbes,’ she said.
The young woman soared to fame after her appearance on Shark Tank where she turned down a $300,000 offer for 25 percent of her beauty business
Iris Smith (pictured) turned the very simple makeup idea into an incredible $10 million profit within a year
Iris was one of 4,000 people to be put up for a place on the coveted list this year. The youngest person to make the list is just 14 – while the average is 26.8.
Following her success with the Quick Flick and Beauty Fringe Iris created the Quick Screen range featuring a three-in-one moisturiser, primer and SPF50+ formula.
She spent two years coming up with the products that offer full sun protection over makeup – and leaving skin glowing without any white marks or a ‘cakey’ mess.
What is The Quick Flick? The stamp that promises the perfect cat eye in just seconds
For years, Iris would spend 20 minutes a day creating the perfect cat eye by hand, laboriously trying to fix mistakes and dealing with more than a few puffy eyes.
She figured there had to be a quicker way to get the perfect cat eye, and so this self-taught make up devotee turned into a self-taught businesswoman.
The $35 product is pre-loaded with ink and comes with two stamps – one for each eye – and a felt tip liner to complete the popular look.
Not only does the sunscreen shield your face from the sun, but it also protects your skin against blue light damage from digital gadgets.
‘Growing up in sunny Western Australia, SPF has always been the most important thing I’ve done for my skin. However, finding a multi-tasking sunscreen that I felt excited to put on my face proved tricky,’ the beauty innovation queen said.
‘I wanted to challenge myself to really innovate and improve upon the existing products available to consumers’, the entrepreneur said.
She created a new collection of SPF50+ products designed to be worn with your makeup
She spent two years coming up with a simple solution by creating products that offer full sun protection over makeup – and leaving skin glowing without any white marks or a ‘cakey’ mess
‘I’m really proud to bring not one, but two products to the market that perfectly blend skincare and suncare and solve a lot of the problems that consumers face when using suncare products.’
Iris first found herself in the beauty world after she launch her brand The Quick Flick, which offers women an easier way of ‘stamping’ a perfect winged tip onto your lids in just seconds.
The young entrepreneur – who invested $10,000 of her own money into the brand – appeared on Shark Tank in May 2018 just three months into her business.
The ‘sharks’ were interested in her $35 product with Andrew Banks offering to invest $300,000 – a deal for 25 per cent of her company – just three months after she launched in 2016.
She also invented these for those who like to chill their skincare
Iris has built a stunning $15million beauty empire after creating Quick Flick and Beauty Fridge
But five months later, when it was time to sign the contract, Iris realised her business was worth far more than the offer, with deals from giants such as Priceline.
‘When the Shark Tank show was filmed, i’d only been in business for three months. It was early days, however, I was already turning over $100,000 a month by that stage,’ she told Daily Mail Australia.
‘My business was valued by the sharks on the show at $1 million, however by the time the show aired in May, its valuation had already tripled. I wasn’t in the position where I really needed the $300,000.
The Quick Flick first made headlines in December 2017 after Iris, the then-university interior architecture student, launched her brand in her two-bedroom apartment – and dropping off orders at the Post Office via a shopping trolley
‘I was cash flow positive and I already had plenty of retail deals lined up. Signing the deal would have also restricted me from starting other brands such as Beauty Fridge.
‘I had so many ideas for other products and brands, I didn’t want to limit my career and lock myself in.
‘Despite having so many friends and family pressuring me to sign the deal, the thought of it gave me anxiety. I trusted my gut, so I knew it wasn’t right.’
Her products including The Quick Brow are now stocked right across Australia
The winged eye-liner queen went out on her own – and within 12 months, she turned over $10 million dollars.
‘I didn’t ever imagine that The Quick Flick would blow up like it did after the Shark Tank show. The publicity we received was invaluable,’ she said.
‘I honestly believe the company grew overnight what other businesses would grow in a few years. It was definitely tough and I had to put procedures in place pretty quickly to ensure we could keep up with the demand.’