Husband and wife entrepreneurs Melissa and Rick Hinnant bring Grace and Lace knee-high boot socks to the Shark Tank in episode 511. Melissa first got the idea in 2011 when she sadly lost her infant daughter after giving birth prematurely. As she says on her website, “with lungs not yet developed enough to survive on her own, the Lord took her straight to Heaven.” This tragic moment was the inspiration for Grace and Lace, which are made with “HIS grace and a lil lace.”
During the period of confined bed rest prior to the premature birth, Melissa learned to knit and crochet. Fast forward to 2011 when she made her first pair of boot socks. When people kept asking where she got them, she decided to sell them on Etsy and had more orders than she could handle. In two years, she’s sold over 50,000 pairs of her boot socks.
She and her husband went from a small, craft based business to a full-blown business during the past two years and their designs are trademarked. It looks like they are a business looking for the Sharks’ help getting to the next level.
Grace and Lace Shark Tank Recap
Melissa and Rick will pitch the panel of five Sharks on their business and its prospects for growth. They’ll need to convince Mark Cuban, Lori Grenier, Kevin O’Leary, Barbara Corcoran, 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 Grace and Lace will be available on Shark Tank Blog once this episode airs.
Grace and Lace 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 Grace and Lace and the Hinnants as more details become available.