Grace and Lace, founded by Melissa and Rick Hinnant, gained nationwide attention after securing a $175,000 deal with Barbara Corcoran on Shark Tank in 2013. Known for their fashionable knitwear and accessories, the company rapidly expanded, reaching $19 million in sales by 2024.
Grace and Lace remains a thriving business, with an estimated net worth of $22 million. The brand has achieved significant milestones, such as creating a charitable foundation that has helped build orphanages in India.
Their continued success showcases the impact of Shark Tank exposure and Barbara Corcoran’s investment.
Grace and Lace Net Worth
| Estimated Net worth | $22 million (2024) |
| Annual Sales Revenue | $19 million (2024) |
| Lifetime sales | $20 million |
| Investor | Barbara Corcoran |
| Founders | Rick and Melissa Hinnant |
| Employees | 42 |
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 |
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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 an approximate net worth of USD 10 Million as of 2024.
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.