Modern Picnic is a New York-based brand that designs stylish lunch boxes for women. This business was founded in 2018 by Ali Kaminetsky. After completing graduation from Lehigh University in 2016, she moved to New York for a job in retail.
She used to take lunch with her every day while going to work. One day she realized her Lunchbox was not fancy and stylish. When she Googled for a good “lunchbox”, she found kid’s and men’s collections, not women’s. After that, she launched the Modern Picnic lunch Box for women.
After the business grew, she left her job so that she could devote full time to the business. Needing investment to scale her business, she appeared on Shark Tank Season 15 Episode 13 and asked the sharks for $400k for 6.5% equity at a $6.1 Million Valuation.
What Is a Modern Picnic?
Modern Picnic is a stylish and cute lunch bag made by giving a makeover to the traditional lunchbox for women. She sells different types of lunch bags such as Snacker, Kids Mini, Large Luncher, Tote, Backpack, and the Wicker collection.
All the luchbags of this brand are available on Amazon, you can buy them from there. The Tote Lunchbag costs $250, her cheapest lunch bag is $59.
|Stylish design lunch boxes for women
|$400k for 6.5% equity
|Episode (Shark Tank USA)
|Feb 2, 2023
|New York, New York, USA
|Lifetime Worth (Sales)
|Buy and Watch
Another Shark Tank Pitch
Who Is The Founder Of Modern Picnic?
Ali Kaminetsky is the founder of Modern Picnic Business and she started it in 2018. Before this business, she used to work as an assistant buyer in the department store Macy’s.
How Was The Shark Tank Pitch Of Modern Picnic?
Kaminetsky entered the Shark Tank and asked the Sharks for $400k for a $6.1 million valuation. She explained to the Sharks about her stylish backpack business. Kaminetsky came up with the idea of this business at the age of 22.
The average order value of the product is $150 and the gross margin is 60%. E-commerce sales are 70%, and the remaining sales are from wholesale and retail. The product is currently available at The Container Store.
By selling 40,000 units so far it has made sales of under $6 million. She is projecting to do $2 million in sales this year and lose under $100k. About 50% of sales revenue is spent on marketing.
Kevin O’Leary said you are spending too much money on business, so he is out. All the sharks refused to invest in this business because the founder Kaminetsky is spending more than necessary in marketing her business.
Sharks Offers list!
What Happened To Modern Picnic After Shark Tank?
Modern Picnic did not get a deal in Shark Tank although Founder Kaminetsky gave a great presentation but even the Sharks did not agree to invest. Kaminetsky is spending 50% of gross sales revenue on marketing her business, this is not a positive approach.
Currently, we do not have much information about this business but we are following the founder and her business to collect more information for you.
Modern Picnic Shark Tank Update
After entering Shark Tank, Kaminetsky told the Sharks the growth report of her business till now and also told why she needs investment. A few minutes after this episode aired, she received an order worth thousands of dollars and she was busy shipping the all orders.
What Is Modern Picnic’s Net Worth?
Modern Picnic’s net worth is estimated at $5 million. The global insulated lunch box market size is USD 0.40 billion and is projected to reach USD 0.69 billion by 2029. There are many small stores everywhere which sell lunchboxes and there is a lot of profit in it.
Is Modern Picnic Still In Business?
She transformed the traditional lunchbox into a unique design for women that is stylish as well as fancy. Perhaps many women going to work will prefer this type of lunchbox.
The headquarters of this business is in New York, United States and it employs 2-10 employees as per its LinkedIn profile.
Yes, Modern Picnic is still in business as of February 2024.
frequently asked questions
Who founded Modern Picnic?
Modern Picnic was founded by Ali Kaminetsky.
Did Modern Picnic get a deal on Shark Tank?
No, Modern Picnic didn’t get deal on Shark Tank.