Supply is a sustainable personal grooming products manufacturer company. This company was founded in 2015 by husband and wife team Patrick Coddou and Jennifer Coddou. This company exclusively sells stainless steel single-edge razors and some Personal grooming kits.
For a long time, most people have used multi-blade razors for a clean shave. Clean shaving becomes easy with a multi-blade razor but cuts, nicks, burns, etc. feel on the skin.
Patrick was facing this problem for a long time and he understood this problem closely from different top website razor reviews and shaving research.
Patrick didn’t like going to work and waking up in the early morning, so the couple started a ‘supply’ business in 2015.
To make the first version of the single-edge razor, they raised $78,278 by launching a campaign on Kickstarter. On May 16, 2017, they raised $256,092 by launching their 2nd campaign on Kickstarter for their Single Edge Razor 2.0.
On Apr 10, 2018, they launched their 3rd campaign on Kickstarter called “Everyday Dopp Kit” and raised $32,223 from it. They generated thousands of dollars of pre-revenue from the Kickstarter campaign alone.
Husband and wife Patrick Coddou and Jennifer Coddou appeared on Shark Tank Season 11 Episode 6 for Funding. They asked the sharks for $300,000 for 10% equity at a $3 Million Valuation.
What Is Supply Co?
‘Supply Co’ is a personal grooming retail business. This company sells sustainable single-edge razors. Their single-edge razor is made from stainless steel and aerospace technology.
It is very easy to use this razor and reduces the risk of skin cuts. A black-label blade comes with this razor, which is very easy to inject into the razor.
It has 6 primary shaving settings which the user can set according to himself. Recently, this company is also selling personal care and grooming kits along with razors.
|Company Name||Supply Co|
|Founder||Patrick Coddou and Jennifer Coddou|
|Product||Personal Grooming Kits|
|Asked For||$300k for 10% equity|
|Final Deal||$300k for 15% equity|
|Episode (Shark Tank USA)||S11 E6|
|Air Date||Nov 3, 2019|
|Business Status||In Business|
|Headquarters||Fort Worth, Texas, United States|
|Lifetime Worth (Sales)||$49.5M *estimated|
|Buy and Watch||Buy Now||Amazon Prime|
Another Shark Tank Pitch
Who Is The Founder Of Supply Co?
Patrick Coddou is the founder and CEO of ‘Supply Co’. Jennifer Coddou is the co-founder of this company.
Patrick is a Mechanical Engineer and holds a Master of Business Administration from Southern Methodist University. He has worked in the aerospace company Lockheed Martin for many years.
After studying sports management at Texas A&M University, Jennifer worked as a math teacher at the Fort Worth ISD for many years.
How Was The Shark Tank Pitch Of Supply Co?
After entering the shark tank, Patrick and Jennifer explained their business to the sharks. In 2018, they did $1 million in sales, and this year in 2019, they will do $2.5 million in sales.
They have invested $125,000 in this business and most of their sales come from direct consumers. The landed cost of the product is $28 but it is sold for $129 and now their gross margin is 50%.
Kevin O’Leary liked the product and offered $300k for a 5% equity + a royalty of $1.50 per unit in perpetuity. Robert Herjavec is also interested in the business and has offered $300k for a 15% equity.
Finalized: Robert Herjavec invests $300k in exchange for 15% equity in “Supply Co”.
What Happened To Supply Co After Shark Tank?
Supply got the company funding on Shark Tank through Robert. After this episode of Shark Tank aired, many people bought their product and most people’s opinion was positive about this product.
In January 2020, they generated $1 million dollars in just one month. In 2021, their annual sales reached $12 million.
On Oct 4, 2021, they launched their two new product ‘The Single Edge SE & Pro‘ campaign on Kickstarter. They were able to raise a total amount of $203,833 from this campaign.
The ‘Single Edge SE & Pro’ razor is made with Nikstop technology. Beard, head, and body hair can be cut with this razor.
What’s new on Supply Co
Last Update: June 13, 2023
Right now this company is selling personal care products like face wash, moisturizer, eye cream, and face scrub along with grooming kits.
‘Supply Co’ has been acquired by Foundry Brands in September 2022. As of June 2023, the company’s annual sales have reached an estimated $15 million.
Supply Co Shark Tank Update
Husband and wife Patrick and Jennifer did a great pitch on Shark Tank. Lori, Daniel, and Mark declined to invest in this business but Robert and Kevin O’Leary made an offer. The founders decided to go with Robert’s offer.
We’re following Patrick Coddou and Jennifer Coddou along with their company for further updates.
What Is the Net Worth of Supply Co?
The current worth of Supply Razor Company is estimated at $20 million. On Shark Tank, the founder sought funding for their company at a $3 million valuation. However, they got funding at a $2 million valuation.
Is Supply Co Still In Business?
The ‘Supply Co brand has been acquired by Foundry Brands in September 2022. Right now the performance of this company is going very well.
We expect the sales of this company to grow under foundry brands in the coming times. Let’s see how the coming time is going to be for this company.
The headquarter of this company is in Fort Worth, Texas, United States and 2-10 employees are working in it.
Yes, Supply Co is still in business as of June 2023.