Philomina Kane appeared on Shark Tank Season 13 to pitch her satin-lined hoodies to the sharks. Kin Apparel combines hoodies and haircare, with the goal of helping celebrate natural hair. After landing a deal with Lori Greiner and guest shark Emma Grede, we’ve got a Kin Apparel update after Shark Tank.
Shark Tank Kin Apparel Update
- Entrepreneur: Philomina Kane
- Business: Satin-lined hoodies for natural hair
- Ask: $200,000 for 10% equity
- Result: $200,000 for 30$ equity
- Shark: Lori Greiner and Emma Grede
Philomina Kane was born in Ghana and immigrated to America with her parents when she was young. After she received a scholarship to Princeton where she graduated with a degree in Ecological Biology, she found that the stress of school was causing damage to her hair. Coming from a family of stylists, Philomina used her knowledge of haircare to create the Kin Apparel satin-lined hoodie.
As the name implies, Kin Apparel looks like your standard hoodie but is lined with satin to help retain moisture and prevent breakage and frizz. Philomina also aims to make her hoodies inclusive of all types and styles of hair. With a great product, she entered the tank seeking a shark to help her fund inventory and take the brand to the next level.
Things got off to a good start for Kin Apparel on Shark Tank, as Philomina shared that she profits around $60 on each hoodie and had done over $550,000 in sales in the last year and a half. Even better, she has a successful YouTube channel with nearly 200,000 subscribers, keeping her from having to invest in customer acquisition.
Philomina shared that her biggest need is for someone to help her stay focused on her mission and to fund inventory. At the time of the pitch, she was only accepting preorders for her hoodies, forcing her customers to wait weeks to get the product.
After hearing her out, Kevin O’Leary, Barbara Corcoran, and Mark Cuban all dropped out, stating that they just weren’t a great fit for the business and didn’t think they could help Philomina reach her goals.
However, guest shark Emma Grede, founder of Good America, and Lori Greiner teamed up to offer her $200,000 for 30% equity. Emma and Lori shared that they felt they could help her blow up the business and turn her into a millionaire. After a few tears and one counter-offer, Philomina accepted the deal.
With such a successful business and deal, you won’t be surprised to find a great Kin Apparel update. It seems that things are off to a great start for Philomina, as she shared a video of her dancing and celebrating her deal with Emma and Lori on Instagram.
There’s also no doubt that the company has seen an increase in sales after the show aired. Further, at the time of writing the majority of the hoddies are in stock, meaning Emma and Lori are helping her manage her inventory. When we get more news on a Kin Apparel update, we will be sure to let you know. In the meantime, be sure to check out more company updates from Shark Tank Season 13 Episode 1:
For more on Shark Tank Season 13, be sure to check out our Season 13 products page.