Long Wharf Supply Co. Net Worth 2024 Shark Tank Update
As of the beginning of 2024, Long Wharf’s net worth is $ 3 million. Also, the company has approximately $ 1 million in annual revenue, according to 2020 data. On October 15, 2021, Long Wharf Supply Co. appeared on Shark Tank Season 13, episode 02 of Shark Tank USA. They entered the show expecting $375K for 15% equity but left the Shark Tank without a deal. However, the company will still be in business in January 2024. It then sells online within the USA. Let’s find out how it has reached this success over the years.
Long Wharf Supply Co. Worth 2024
| Net worth | $3 million (2023) |
| Annual Sales Revenue | $1 million (2023) |
| Profits | – |
| Lifetime Sales | – |
| Investor | None |
| Founder | Lauren Lamanga and Mike Lamanga |
| Employees | 5-10 |
Long Wharf Co. made revenue of around $600 000 in 2018, followed by $800 000 in 2021. This was followed by $1 million in revenue in 2021. However, the company hasn’t disclosed its income and net worth recently. So, its net worth in 2024 is assumed to be $3 million, according to the data available for 2023.
Long Wharf Supply Co. Sales And Revenue
The company has sold $495,000 in sweaters alone when it appeared on the show. Also, its Kickstarter has raised $75009 for the company’s successful start.
Despite leaving the Shark Tank Without investment, the company had a yearly revenue of $600,000 in 2018. Followingly, it reached $ 800,000 in 2019, with $ 1 million in revenue in 2021. It reached $10 million in lifetime sales by the end of 2023.
Even the official data hasn’t disclosed that the net worth of Wharf Supply Co. in 2024 is estimated to be $3 million.
| Net Worth 2023 | $3 million |
| Net Worth 2022 | $3 million |
| Net Worth 2021 | – |
| Net Worth 2020 | – |
| Net worth valuation 2021 before appearing on Shark Tank | $2.5 million |
Competitors of Long Wharf?
Golden Goose, Gucci, Off-White, Saint Laurent, and the Row are crucial among the most competitive, luxurious sweater manufacturing brands.
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Long Wharf Supply Co Shark Tank Update
The company is still going strong and has grown to be worth around $3 million since being on Shark Tank. They’re really focusing on cleaning up the ocean and teaming up with conservation groups to help bring back oysters.
Also, they are improving their thoughts on the environment as well. For example, their committed work on preservation projects for Puffins is going smoothly. As they state themselves, they are clearing 15000 gallons of seawater daily.
By January 2023, the company recycled more than 60,000 pounds of oyster shells and helped grow over 350,000 oysters. In 2021, they opened a pop up seasonal store in Boston. All these efforts helped the company make $10 million in lifetime sales by November 2023.
What are Long Wharf sweaters?
Wharf sweaters are the significant products sent to the market by Long Wharf Co. They are made of a soft blend of recycled oyster shells, recycled water bottles, and natural lambswool. They state that purchasing their bit-expensive sweaters could save the ocean as well.
Who is the founder of Long Wharf?
Michael Lamagna was the founder of the Long Wharf, who formed the company in 2016. Lamagna is a graduate of Merrimac College in Finance. He and his sibling Lauren participated in Shark Tank as the company’s founders.
FAQ
The company’s net worth is $3 million by 2024.
It has $1 million yearly revenue over the years
None of the sharks invested in Long Wharf Supply Co.
Long Wharf Supply Co. is still in business in January 2024
Long Wharf Supply Co. reached $10 million lifetime sales by the end of 2023
