Unshrinkit takes care of an age-old problem, shrinkage! Clothing shrinkage. The company pitch is in Shark Tank Season 7.
Four Steps for Unshrinkit
Unshrinkit works in four steps. 1) Add Unshrinkit to a gallon of water, 2) add sweaters and soak for thirty minutes, 3) rinse the solution in cold running water, and 4) reshape the sweater back to size and dry flat.
Unshrinkit works on cashmere, lambswool, and smart wool. Now you can fix your clothes.
Desiree found numerous home remedy solutions to this problem online, but there are no commercial solutions. Nate has a few patents while working at Johnson and Johnson. This product developed while he was at Harvard Business School.
They have patented the method you use with Unshrinkit. Desiree and Nate believe that this is a 200 million dollar industry. They are projecting $130,000 the current year. The cost to make is a $1, and they retail for $12.
Unshrinkit Episode Statistics
Company: unShrinkit
Website
Entrepreneurs: Nate Barbera and Desiree Stolar
Ask: $150,000 for 10% equity
Companies in this episode: AfreSHeet, Unshrinkit, Grip Clean, PolarPro
Season 7 Episode 708
Sharks: Mark Cuban, Daymond John, Kevin O’Leary, Lori Greiner, Robert Herjavec
First Aired: 11/13/2015
Deal: Mark Cuban $150,000 for 15% equity
What do the Shark Tank Investors say about Unshrinkit?
- Mark Cuban is not a clothes guy but they have thought this through, and he offers $150,000 for 15%. They have a deal.
- Daymond John says they never had a problem at FUBU for shrinkage! He offers $150k for a 25% stake contingent on licensing. He doesn’t know if it is even needed.
- Kevin O’Leary makes them an offer for $150,000 for 33.3%. He doesn’t know what it is worth, but he likes it. Nate countered for $150,000 for 15%.
- Lori Greiner thinks they have a limited market because woold is not as popular as cotton, and you have to shrink your item to feel the need.
Robert Herjavec did not make an offer.