Kent Underwear Shark Tank Update (Season 14)

Kent Underwear manufactures a variety of sizes for men’s and women’s underwear using organic and organic Pima cotton, without synthetics or microplastics that harm the environment. Their Pima cotton, primarily grown in Peru, is rare, making up only 2% of the world’s cotton supply. Designed to fit all body types comfortably, the underwear is durable and even machine washable.

Kent’s products are made from 100% organic, plant-based materials, including fibers and leaves from the cotton plant. Being fully compostable, the underwear breaks down naturally and returns to the soil after disposal.

The brand’s organic Pima cotton is GOTS-certified (Global Organic Textile Standard), and their mission focuses on reducing waste and avoiding harmful materials. Kent underwear is priced between $28 and $144 and is available on their website.

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Who Is The Founder Of Kent Underwear?

Stacy (Anderson) Grace is the Founder and CEO of Kent Underwear, with expertise in sustainable fashion, branding, and strategy.

Currently, she serves as an Accounts Manager and Brand Partnerships specialist at Liberty Ltd. and is also an instructor at the Fashion Institute of Design & Merchandising (FIDM).

Stacy has extensive experience in sales and marketing, having previously worked at We First and Piece & Co. She holds an MA in Strategic Fashion Marketing from the London College of Fashion and completed the New Creative Ventures program at the London Business School.

As a marketing expert, Stacy has a deep understanding of the fashion industry.

How Was The Shark Tank Pitch Of Kent Underwear?

Stacy and Jeff Grace entered Shark Tank seeking $200,000 for a 5% equity stake in Kent Underwear, valuing the company at $4 million. During their pitch, Stacy shared her background and the business story, which impressed the sharks.

While the sharks were intrigued by the company’s mission and concept, they found the valuation too high, as it was a completely new idea that hadn’t yet hit the market. Stacy mentioned plans to expand into men’s underwear and T-shirts in the future.

Kent Underwear sells one pair of underwear for $20 to $24, depending on size, with a production cost of $8.70 in California. In 2022, their sales reached $99,000. In their first year (2016), they made $30,000, followed by $120,000 in their second year (2017).

Currently, 85% of their sales come from direct-to-consumer e-commerce, with 15% from a single retail partner. They plan to partner with another major retailer this year.

Mark Cuban liked the concept but chose not to invest, while Daymond John also found it too risky and opted out. Barbara Corcoran offered $200,000 for a 20% equity stake, and Robert Herjavec expressed interest, proposing $200,000 for 15%. Lori Greiner matched Robert’s offer, but Daymond intervened with the same offer.

Ultimately, Stacy and Jeff decided to partner with Daymond, believing he would be a valuable investor, mentor, and partner for their business.

Finalize: Daymond John invested $200K in Kent Underwear for 15% equity.

Kent Underwear Shark Tank Update

Kent Underwear secured a valuable partnership with Daymond John, who will help the company expand. The founders accepted his offer, signing a deal at a valuation of $1.3 million, which they viewed positively. Many people on social media praised the business concept.

The company has been featured in various media publications, including Financial Times, Refinery29, and Treehugger. During an audience poll on Shark Tank, viewers were asked, “How often do you buy new underwear?” The results showed that 54% of respondents said, “Every year or two,” 37% said, “Every 3-5 years,” and 9% responded, “Why buy new underwear?”

Currently, Kent Underwear is in talks with several popular retail stores to sell its compostable underwear and other clothing products. Although it has been some time since the brand appeared on Shark Tank, the founders are focused on expanding their business both nationally and internationally.

Kent Underwear achieved a successful deal on Shark Tank, marking the first deal closed in Season 14, Episode 1, despite giving away 15% equity. With Daymond John as a mentor and investor, the company aims to boost its sales. As of 2022, their sales have totaled $99,000, and updates on revenue will be provided in the future.

What Is Kent Underwear’s Net Worth?

Kent Underwear’s compostable underwear could achieve greater success in the market if its price were reduced. Currently, many consider the price to be quite high. As of now, the company’s estimated net worth is around $500,000.

Yes, Kent Underwear is still in business as of April 2024.