Grace and Lace, a Boot socks for women, was started by Rick and Melissa Hinnant in 2011. As of September 2023, Grace and Lace’s net worth is $10 Million and they’re pulling in a whopping $7 million in annual revenue.
On November 22, 2013, they appeared on Season 5 of Shark Tank USA and made a deal with Barbara Corcoran, for $175,000 for 10% of equity. The final valuation was $1.75 Million, the same as the founder’s initial estimate.
Grace and Lace are still in the business. Their products are available on the website.
Grace and Lace Net Worth
| Net worth | $10 Million (2023) |
| Annual Sales Revenue | $7 million (2022) |
| Profits | – |
| Lifetime sales | $20 million |
| Investor | Barbara Corcoran |
| Founders | Rick and Melissa Hinnant |
| Employees | 42 |
Grace and Lace Net Worth Timeline
| Net Worth 2023 | $10 Million |
| Net Worth 2022 | $8 Million |
| Net Worth 2021 | $7.5 Million |
| Net Worth 2020 | $7 Million |
| Net worth valuation in 2013 after appearing on Shark Tank | $1.75 Million |
| Net worth valuation in 2013 before appearing on Shark Tank | $1.75 Million |
Grace and Lace Pitch on Shark Tank
| Company name | Grace and Lace |
| Product | Boot socks for women |
| Episode | Season 05 Episode 10 |
| Founders | Rick and Melissa Hinnant |
| Asked for | $175,000 in exchange for 10% equity |
| Final deal | $175,000 in exchange for 10% equity, with half of the sum being a line of credit |
| Sharks | Barbara Corcoran |
| Location | Windy Ter, Cedar Park, TX |
Don’t miss these products from Season 5
Grace and Lace Founders
Grace and Lace was founded by Rick and Melissa Hinnant in 2013. Melissa is very passionate about sewing and knitting. The company was started and inspired by a personal tragedy. Grace and Lace’s founders, Rick and Melissa Hinnant, have a net worth of USD 10 Million as of 2023.
Key accomplishments
| Year | Accomplishment |
| 2022 | The company has expanded its product line to all women’s apparel |
| 2013 | Grace and Lace appeared on Shark Tank |
Conclusion
From their beginnings on Shark Tank to their current status as a thriving business. They have proven that with the right idea and execution, anything is possible. We can’t wait to see the future for Grace and Lace and its continued success.
