HOLLYWOOD – May 13, 2022 - Today, following yesterday’s New York Times article that announced that the FDA had approved panties for oral sex, Melonie Cristol, the owner of the Lorals brand of the approved panties, demonstrated its use during the filming of a Shark Tank episode. Both Barbara Corcoran and Lori Grenier volunteered for the demonstration, while the male members of the cast watched intensely. Ms. Cristol asked for $500,000 for a two percent interest in her company which had no reported sales but is expected to be featured on Amazon starting on June 15, the date that the Shark Tank will air on ABC.
Kevin O’Leary, known as Mr. Wonderful, offered the $500,000 for just a $2.00 per panty royalty in perpetuity, saying that he could promote it along with all of his wedding products, but that offer was rejected by Ms. Cristol who said that she wanted an equity partner. Although Mark Cuban and Damon John were interested, they bowed out of the bidding, recognizing that the sharks who would be the best partners for Ms. Cristol were Barbara and Lori, and suggested that in addition to the vanilla flavoring, she should consider Bar-B-Que for the southern markets and salsa flavoring for the California and Arizona markets. Surprisingly, none of the sharks were troubled by the lack of sales or profit projections, Lori beat out Barbara because she said that she would promote it heavily on QVC, offering demonstrations in the late-night editions of the show, and also market it in Bed Bath and Beyond, as well as in Whole Foods and her on-line website, Dildos-R-Us. Shark Robert Herjavec complimented Ms. Cristol but said he was out because she was a great entrepreneur and didn’t need a partner. Barbara said she didn’t think it was investable for her, but she would be a customer.
https://www.nytimes.com/2022/05/12/health/fda-underwear-sti.html
