Kin Apparel, a unique clothing brand that combines fashion and haircare, has been making waves since its appearance on Shark Tank Season 13. Founded by Philomena Kane, Kin Apparel has grown significantly, attracting the attention of investors and customers alike. In this blog post, we’ll explore Kin Apparel’s journey, its founder, the Shark Tank pitch, and the company’s net worth.
Who is Kin Apparel?
Kin Apparel is a clothing brand that focuses on creating satin-lined hoodies and other apparel items designed to protect and nurture natural hair. The company’s mission is to celebrate and embrace all hair types, promoting inclusivity and self-love. Kin Apparel’s products, designed to prevent hair breakage, frizz, and moisture loss, are highly popular among those with natural hair.
Who is Kin Apparel’s founder?
Philomina Kane, born in Ghana and raised in the United States, is the brilliant mind behind Kin Apparel. A graduate of Princeton University with a degree in ecological biology, Philomina experienced hair damage due to stress during her studies. Coming from a family of hair stylists, she combined her knowledge of haircare and her passion for fashion to create Kin Apparel’s signature satin-lined hoodies.
How Did Kin Apparel’s Shark Tank Pitch Go?
Philomina Kane appeared on Shark Tank Season 13, seeking $200,000 for a 10% stake in her company. She impressed the Sharks with her entrepreneurial spirit, the uniqueness of her product, and the company’s financial performance. Kin Apparel started with just $500 and had already generated $550,000 in sales, with a profit of $60 per hoodie. Philomina’s pitch also highlighted the company’s zero customer acquisition costs, thanks to its strong social media presence and viral success.
| Shark | Offer | Equity Terms | Outcome |
|---|---|---|---|
| Lori Greiner | $200,000 for 30% equity | N/A | Accepted |
| Emma Grede | |||
| Mark Cuban | No offer | N/A | Not Accepted |
| Barbara Corcoran | No offer | N/A | Not Accepted |
| Kevin O’Leary | No offer | N/A | Not Accepted |
Kin Apparel Shark Tank Update:
During the Shark Tank pitch, Kevin O’Leary, Barbara Corcoran, and Mark Cuban opted out, citing various reasons. However, guest Shark Emma Grede, founder of Good American, and Lori Greiner, known as the “Queen of QVC,” saw potential in Kin Apparel. They jointly offered Philomena $200,000 for a 30% stake in the company, believing their expertise in manufacturing and the apparel industry could help scale the business. After a brief negotiation, Philomina accepted the deal.
| Entrepreneur | Philomina Kane |
|---|---|
| Business | Kin Apparel |
| Ask on Shark Tank | $200,000 for 10% equity |
| Deal Received | $200,000 for 30% equity (from Lori Greiner and Emma Grede) |
| Founder Background | Born in Ghana, Princeton graduate in Ecological Biology |
| Product Benefits | Designed to protect and celebrate natural hair, focusing on inclusivity |
What Happened to Kin’s Apparel After Shark Tank?
Following the Shark Tank episode, Kin Apparel experienced a significant boost in sales. Philomina focused on expanding the product line, adding new styles and accessories to the collection. In 2023, the company reached a milestone of $5 million in lifetime sales. Philomena also grew her social media following, with over 205,000 Instagram followers supporting the brand.
Kin Apparel Net Worth:
Based on its lifetime revenue and the company’s valuation during the Shark Tank pitch, we estimate Kin Apparel’s net worth to be around $4.9 million as of 2023. The company’s impressive growth and profitability have contributed to its increasing net worth.
| Lifetime Revenue | Over $4.9 million |
|---|---|
| Employees | Over 15 |
| Sales Channels | Online primarily, with plans for retail expansion |
| Product Expansion | Added new styles and accessories |
| Social Media Presence | Over 205,000 Instagram followers |
Kin Apparel Growth and Operations:
After the Shark Tank episode, Philomina’s partnership with Emma Grede and Lori Greiner evolved. In an interview with CNBC, Philomina revealed that the dual deal transitioned into a single partnership with Emma Grede, who now holds half the original equity stake. Kin Apparel has also partnered with Indie Do Good, a women-owned fulfillment center that shares the company’s values.
Kin Apparel Marketing and Sales:
Kin Apparel’s marketing strategy heavily relies on social media and its founder’s online presence. Philomina’s YouTube channel, with nearly 200,000 subscribers, has been instrumental in promoting the brand and educating customers about natural hair care. The company’s strong Instagram and TikTok presence has also contributed to its viral success and zero customer acquisition costs.
| Product Line | Includes hoodies, pillowcases, hats, and other silk-lined accessories |
|---|---|
| Customer Acquisition | Viral success on social media platforms like YouTube and Instagram |
| Philanthropic Efforts | Partnered with Indie Do Good and Children’s Hospital of Philadelphia |
| Future Plans | Expand product line further, enter brick-and-mortar retail stores |
Kin Apparel Social Media Presence:
Kin Apparel has a significant social media presence, with over 205,000 Instagram followers and a growing TikTok audience. The company’s social media channels showcase its products, share customer stories, and promote its mission of inclusive haircare and fashion.
Kin Apparel Interesting Facts:
- Kin Apparel began with just $500 in startup expenses.
- The company makes around $60 on each hoodie sold.
- Philomina Kane’s family background in hair styling inspired the creation of Kin Apparel.
- Kin Apparel has partnered with the Children’s Hospital of Philadelphia, donating hoodies to children undergoing chemotherapy.
What’s next for Kin Apparel?
Kin Apparel’s future looks promising, with plans to expand its product line and venture into retail locations. The company recently announced the upcoming launch of satin-lined raglan short sets, further diversifying its offerings. Philomena and her team of 15 employees are focused on marketing, customer service, and improving the overall customer experience. With Emma Grede’s mentorship and the company’s strong online presence, Kin Apparel is well-positioned for continued growth and success.
Final Words:
Kin Apparel’s journey from a $500 startup to a multi-million-dollar company is a testament to Philomina Kane’s vision, hard work, and the power of combining fashion with inclusive haircare. The company’s appearance on Shark Tank and the subsequent partnership with Emma Grede have provided Kin Apparel with the resources and expertise needed to scale and expand. As the company grows, it remains committed to its mission of celebrating and nurturing all hair types, as well as promoting self-love and inclusivity in the fashion and beauty industries.
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