Traditional hoodies, beanies, and hats can damage your hair, especially if you have curly or textured hair. Like most people, you love wearing hoodies but hate how they make your hair look and feel.
Will you feel amazed if a clothing brand is here to care about your hair mainly?
What is Kin Apparel?
Are you tired of your hair always looking dry and frizzy?
KIN Haircare is the solution to all of your hair woes. They have a wide range of products perfect for any hair, including their satin-lined hoodies, which keep your hair healthy and free from damage.
With KIN Haircare, you’ll never have to worry about your hair again. Their products are innovative, inclusive, and most importantly, they work! You’ll love how soft and silky your hair feels after using them.
Who is the founder of Kin Apparel?
Philomina Kane, the founder, and CEO of KIN Haircare is a haircare content creator known as NaturallyPhilo.
KIN Haircare is a venture born out of her passion for hair care and her desire to create a line specifically for women. A graduate of Princeton University, Philomina has worked in marketing and product development for the natural Club and worked as an undergraduate thesis researcher at McBride Aedes Aegypti Mosquito Lab. When she’s not working on her business, Philomina enjoys Youtube videos on hair care tips for women of color.
what happened at the shark tank
Kane asked $200 000 for a 10% stake business valued at $2M.
Lori Grenier and Emma Grede understood the potential of Philomina’s business and offered $200 000 for a 30% stake.
‘With all of Lori’s background in manufacturing, with what I do with both Good American and SKIMS, like, really understand the apparel landscape. So, I’d like to make you an offer. Okay. And it is us together. 30% of your business for the $200,000 that you’re asking for.’ said Emma.
But Kane was asking for 10% initially, and she asked again if they could go for 20% 25%. Then Lori explained why she and Emma wanted to keep it at 30%.
‘It’s a fair offer, and let me tell you why — you don’t know what you don’t know right now. Right? You’re just at the beginning, You’re gonna need a lot of help. You’re spending no money on marketing, and all of those things are gonna come. We can accelerate this business. You know, I always say I make millionaires. That’s what I do.’Lori at shark tank pitch
What happened to the Kin Apparel After the Shark Tank?
When Kane came to the Shark Tank, Kin Apparel was operational and making some profits.
She started the business with $500 and already made $355K in revenue.
The Shark Tank episode landed over 1500 orders just in the weekend. After the show, their official online store was crowded with over 60 000 visitors.
The business started only focusing on apparel, and now Kane is willing to expand the KIN Apparel to other areas.
You can buy hoodies, beanies, and hats specially made to take care of your hair in their official online store.
The Kin Apparel net worth in 2022
When Kane asked for $200 000 from Sharks, the business was valued at $2M.
When KIN Apparel appeared in Shark Tank, the business had made about $355K in revenue within a year. Revenue increased 42% in 2020.
As a result of appearing in Shark Tank, the business managed to get more customers and sales, resulting in above $700K in revenue.
From all the sales details above, we can expect KIN Apparel’s net worth to be more than $2M.
Competitors of Kin Apparel
KIN Apparel makes hoodies. But not the general ones. They are specially made for aiming your hair care.
While hundreds of thousands of hoodie brands are out there, KIN is a unique business.
So it’s doubtful to have any competition from other apparel brands.
The owner and CEO of KIN Apparel are Philomina Kane.
yes, KIN got a $200 000 deal for a 30% stake.
yes, KIn has an official store and is still in business.
Kin Apparel’s net worth is more than $2M.