Shark Tank season 14 episode 1 was live. There was audience in the studio, but was unfortunetly limited to only 3 pitches. In this article and video below, i will only cover KENT the 1st pitch. A Compo-stable apparels company.
Name & brand: KENT
Branding wise it is not great, we have no idea what the name stands for, if anything.
Logo: Minimalist – looks like it was done by a noob graphic designer.
Company offer: Apparels that are biodegradable:
☁️ 100% Organic
☠️ 100% Non Toxic
✨ 100% Plastic-Free (and micro plastic free)
❤️ 100% Vegan
🌿 100% Plantable (Biodegradable)
The Pitcher: Stacy (a fashion professional) + Jeff (a marketing professional in a consumer packaged goods brand).
The Problem that needs solving: Amount of plastic, and waste that sit in landills for 200 years and break down to micro plastics.
The ask: $200 k for 5% of the company.
Valuation: $4 million.
Defensibly: No patents, but trade secrets.
Sales: $30k/1st year $120k/2nd year , $99 k/this year so far (breaking even) , Q4: will be $500k.
Cost: $8 and 7cents Sells: $20-24 per underware
Marketing: Compost take back program.
Business model: 85% D2C ecommerce.
Mark Cuban, as usual is on point, the mission is great, but a compost take back program will not cut it.
Barbara changed the narrative and created a FOMO (200k for 20%), Robert followed with a better offer (200k for 15%), the same for Lorry and Daymond. The team chose Daymond because he is the best suited for their industry.
My analysis, the cost of production is a bit expensive, but it will be a fashion statement once it can be displayed as a virtue signaling (aka on tshirts). However, i also think that once this niche becomes really widespread, most of the major brands might consider doing the same. With no patent, it would be difficult to stop competition.