Laura and Michael Dweck hope to find the right fit with a Shark when they pitch Basic Outfitters, their online sock and underwear business, in episode 813. The couple married in 2014 and got the idea for the business when Michael needed to refresh his supply of socks and underwear. According to Laura, when they married, she “made Michael dispose of 90% of his basics drawer that were filled with really old and really holey pieces. He just wanted a quick and easy way to refill his drawers without having to burn a paycheck. When he couldn’t find anything to satisfy those needs, we created the solution.”
Laura states that men keep their underwear an average of 7 years! Their flagship “Create a Drawer” service lets men chuck out their whole sock and underwear drawer and start fresh for just $60. Each Basic Outfitters “drawer” contains three pairs of briefs, 8 pairs of socks, three tee shirts, and a “wild card” item.
Customers can also buy different articles “a la carte.” Underwear costs $30 for a three-pack, socks are $20 for a four pack, and tee shirts are twelve bucks. Clearly, the Create a Drawer package is the best value. Basic Outfitters subscribes to WRAP. All of their factories are WRAP (Worldwide Responsible Accredited Production) Certified which ensures ethical, safe, lawful and humane manufacturing.
The Dwecks likely need a Shark's cash to fuel expansion and expand inventory. Will they create a partnership?
Basic Outfitters Shark Tank Recap
Laura and Michael will pitch the panel of five Sharks on the business and its prospects for growth. They’ll need to convince Mark Cuban, Daymond John, Kevin O’Leary, Lori Grenier, and Robert Herjavec that the company is worthy of a Shark investment. A good business plan, good financials, and sales data will impress the Sharks, but they’ll need to show them THEY are capable of running the company to “Shark standards." A full pitch re-cap on Basic Outfitters will be available on Shark Tank Blog once this episode airs.
Basic Outfitters Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Once an episode has aired, we monitor the progress of the businesses featured, whether they receive funding or not and report on their progress. The Shark Tank Blog will follow-up on Basic Outfitters & Laura and Michael Dweck as more details become available.