Friday, July 12, 2024

Kin Apparel 2024 Update – What Happened After Shark Tank

Kin Apparel Before Shark Tank

Kin Apparel is a small clothing startup located in the United States. The company makes high-end clothing and accessories. They sell hoodies, hats, onesies, full sets, hair accessories, pillowcases, and even headrest covers. What sets this company apart from other clothing companies is their use of a luxury satin material in the hoods of their hoodies. They have also incorporated this satin into their other products, as well as a soft cotton fabric. But why did they use satin? In short, satin was used in this apparel line because it doesn’t cause any damage to the hair. In fact, satin material actually has benefits for hair, such as reducing the chances of breakage, dryness, and hair loss. Additionally, it helps keep moisture locked in and keeps the hair from becoming frizzy. Kin Apparel hoodies are available in about 11 different color options.

Philomina Kane is the founder and CEO of Kin Apparel. She is a graduate of Princeton University, where she studied ecology and evolutionary biology, global health and health policy, and African studies. She earned a bachelor’s degree during her studies. She also volunteers with SHARE, a sexual harassment and assault advising, resources, and education company. Here, she contributes her time as a peer advisor, which she has been doing for 8.5 years now. Before Philomina attended Princeton University, she had multiple career paths. For instance, she worked at the Daughters of Jacob Nursing Home, AmeriCorps, McBride Aedes Aegypti Mosquito Lab, and the Princeton University library. Additionally, in-between those jobs, the founder had a few internships and a position on the Princeton University Women’s Rugby team. Following her graduation from Princeton, the founder got a job as the marketing director for the NaturAll Club. Kin Apparel 3

Now, aside from running her company, Kin Apparel, Philomina has been working as a YouTuber who creates informative digital content regarding hair care. Her YouTube account, NaturallyPhilo, has been active for almost nine years now, and she has 186,000 subscribers. Philomina launched Kin Apparel in April of 2020 in Philadelphia, Pennsylvania, as a way to transform hair care using the fashion industry. But why Kin Apparel? For starters, in this case, the name “Kin” stands for “keep it naturally” in regards to hair care. Nonetheless, the inspiration behind this business comes from the lack of fashion options that protect hair. When she was at a standstill with what hair care products she could get access to, she started wrapping her hair with satin scarves before putting a hoodie on. After some time of doing this, she realized that she could incorporate the satin within the lining of the hoodies.

When Kin Apparel officially launched in 2020, the founder only had an inventory of about 100 hoodies. At the time, she was only using her YouTube channel as a means of marketing the hoodies; now, the business has grown considerably. As far as the business side of Kin Apparel goes, Philomina uses her experience in creating content on YouTube to market her clothing line. More specifically, she makes videos about her products and shares them throughout social media platforms like Instagram, YouTube, and Facebook. This marketing strategy worked well for Kin Apparel, as it brought her targeted audience to her website. Kin Apparel is doing well for a startup company in such a big industry, but Philomina recognizes that the best way to grow the company more is by getting a contract from a shark.

Kin Apparel on Shark Tank

The architect behind Kin Apparel, Philomina Kane, enters the stage of Shark Tank, hoping a shark will want to invest $200,000 in her clothing company. She is offering 10% ownership of the business. Her spiel begins with a question to all the sharks, asking, “Who owns a hoodie and who owns hair care products?” Of course, all the investors respond by saying they own both. This is when Philomina breaks into her presentation of Kin Apparel. Beginning to pitch her hoodies, she explains how she’s incorporated a satin lining into each of the hoods in order to keep hair well-protected and to reduce damage. The sharks take a closer look at the sample hoodies they’ve been given. Before concluding her pitch and giving the sharks their time to place offers, the founder goes into some detail about her background, as well as her scholarship to Princeton University. Kin Apparel 1

Overall, Philomina did a great job with her pitch; however, the sharks are eager to hear about her sales numbers. Before sharing her sales with the investors, it’s appropriate to know that the cost to manufacture these satin-lined hoodies is between $13.70 and $16.75, and they are retailed at $80 each. The founder started her clothing line by investing her own $500 towards marketing the hoodies on social media. Within the first year of Kin Apparel’s business, 2020, Philomina revealed that her sales numbers were up to $246,000. In 2021, by the time the Shark Tank episode aired, the business had done $355,000 in sales; however, the year isn’t over yet, so those numbers could rise. Of her personal profits, she has $150,000.

Due to his lack of experience within the hair care industry, Kevin O’Leary backs out first. Barbara Corcoran and Mark Cuban go out next, after advising Philomina to educate herself on the aspects of the business that she doesn’t already know. Kin Apparel’s first offer comes from the guest shark, Emma Grede, who claims that many retailers want black women-owned businesses within their stores. Emma loves the diversification of Philomina’s company, and she offers her $300,000 for a 30% ownership stake in the business. The shark then offers Lori Greiner the chance to team up with her on this offer, which she accepts. The founder counters the investors’ offer with a 20% stake, but they decline her offer. Emma and Lori believe that they can add more to this business and help it grow. With that, the founder then adjusts her offer of ownership to 25%; however, they decline again. Ultimately, Philomina decides to accept their initial offer, and they secure the deal by sharing a hug. Kin Apparel 2

Kin Apparel Now in 2024 – The After Shark Tank Update

Appearing on Shark Tank ended up being a great idea for Kin Apparel. Not only did the founder, Philomina Kane, land a deal with Emma Grede and Lori Greiner, but she also received a spike in her sales. As of 2024, the deal between the sharks and the entrepreneur has closed. Though the recent sales numbers of Kin Apparel have not been shared, Philomina did post a video of her shipping a large number of orders, so it may be safe to assume that her sales are doing good. Based on that video as well, it’s clear that Philomina has been marketing her clothing line well. In fact, in 2021, Kin Apparel was recognized and featured by the Fox 29 channel in Philadelphia. Then, in 2022, the business was featured in Inc Magazine. Meanwhile, the founder decided to change the name of her business in 2022; now, Kin Apparel has officially become Kin Haircare.

Melissa Buechler
Melissa Buechler
Graduated from Washington Virtual Academies and have been a freelance writer for about 2 years now. In my spare time, I enjoy spending time with my pets, gaming, etc.
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