Grace and Lace Net Worth 2023 Update (Before & After Shark Tank)

Grace-and-Lace

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
InvestorBarbara Corcoran
FoundersRick and Melissa Hinnant
Employees42

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 nameGrace and Lace
ProductBoot socks for women
EpisodeSeason 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
SharksBarbara Corcoran
LocationWindy Ter, Cedar Park, TX

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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

YearAccomplishment
2022The company has expanded its product line to all women’s apparel
2013Grace 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.