Kaans Designs Founders Present An Engaging Pitch On Shark Tank Season 16
Highlights
- Ashley and Kenny Green present their t-shirt brand, which is committed to creating memories with family memories.
- The entrepreneur couple started the business in 2014.
- The Greens get their only offer from Guest Shark Todd Graves.
Overview
| Category | Details |
| Name | Kaans Designs |
| Founder | Ashley and Kenny Green |
| Industry | Fashion |
| Product | T-shirts |
| Funding | Self-funded |
| Investment Ask | $75K |
| Equity Offered | 15% |
| Valuation | $500K |
A husband-wife duo of Kenny and Ashley Green appeared before the judges with Kaans Designs. Hailing from Indiana, the entrepreneurial couple enters the show wearing ‘The Original’ t-shirts. They start the Kaans Designs Shark Tank pitch by describing themselves as ‘two originals’ who met at Indiana University.
After this, the duo went ahead in the pitch through some pictures on display. They said that after getting married, they had ‘the remix’ and ‘the encore.’ The pictures on display then show their kids wearing t-shirts with these titles. Finally, they dropped the mic; after this, another picture shows their third kid wearing the ‘mic drop’ tee.
Together, they all make ‘Kaans Designs,’ a parenthood lifestyle brand on a mission to encourage and inspire families to get in the picture. The story behind the idea goes back to Ashley’s personal story.
When she was just 21, Ashley lost her mom. Both of them had just one picture together, which shows on the display again. Realizing the need to have pictures with loved ones, she came up with the idea for Kaans Designs. She wanted people to be forced into getting into pictures wearing matching apparel.
This is why Kaans Designs’ tagline is ‘Get in the picture.’
The entrepreneurs claim that their shirts have been seen on celebrities, athletes, and even Oprah’s Favorite Things (twice). They add that their family works hard to make their users’ memories a little more special.
The Kaans Designs founders are creating matching apparel and accessories to capture the essence of shared moments.
Kaans Designs Shark Tank: What Happened On Season 16
Ashley and Kenny try their luck with the Kaans Designs Shark Tank pitch by seeking $75K for 15% equity in their company. Lori Greiner finds the concept ‘cute’ and is impressed by the quality of the shirts. Mark Cuban wants to know if they have an inventory of each version of the shirts.
The entrepreneurs state that they hold blank inventory and screen print them. Kevin O’Leary then inquires about the customer acquisition costs. Ashley says that currently, their cost of acquisition is $9.37. Kaans Designs has a 30% customer return rate.
They make the adult shirts for $5.12 and the kids’ shirts for $4.24. Both of them are sold for $26 and $21, respectively. The Sharks like the margins. Kevin thinks the 5X return on prices is quite decent.
However, Ashley reveals that the 5X return happens only during special occasions like the holidays or Father’s Day. On other days, the return is 3X.
Discussing their backgrounds, the duo reveal that they started Kaans Designs in 2014. Before that, Ashley was a high school teacher, and Kenny was a social worker. They started the venture while Ashley was on maternity leave.
While Lori loved the ‘cute’ concept, Mark wanted to know if the sales were ‘cute’ enough. The entrepreneurs then reveal that starting in 2016, their lifetime sales were $3.2 million. Lori thinks it is a ‘drop the mic’ moment. The Kaans Designs entrepreneurs are projecting sales of $280K-$300K for this year.
As of now, the entrepreneur couple is spending 5% on ad revenue. Last year, they were profitable at $44K. The reason why they came up with the Kaans Designs Shark Tank pitch is to expand their product category.
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Did Shark Tank Invest In Kaans Designs?
Kevin O’Leary thinks there is not enough room for investors to do anything, and the entrepreneurs cannot go to retail as their margins are small. So, he exits the deal. Lori Greiner loves the design, quality, and story of the founders but chooses to opt out of the deal due to her inexpertise in the fashion industry.
Daymond John thinks Ashley and Kenny can grow the business themselves to make it a $5 million – $10 million company. Citing this reason, he chooses not to make an offer.
Todd Graves makes an offer of $75K as a loan with 10% equity on it. Kevin calls it a ‘venture debt.’ Lori thinks no one can ‘beat that offer.’
Todd says that the business type is not in his ‘wheelhouse.’ So, he can help the entrepreneur couple with the branding components but asks if Daymond can offer mentorship with fashion advice. Daymond did not have a problem with the offer, but he wanted to join as a mentor, not an investor.
Mark Cuban interrupts and says that Todd and Daymond ‘make a great combo.’ So, he chooses to step out of the Kaans Designs Shark Tank deal.
Left with no other options, Ashley asks Todd if he is willing to ‘go up in equity ‘to not do a loan.’ Todd replies, advising the entrepreneurs that a growing business like theirs should never give up on their equity. He gives the example of his 90% plus ownership at Raising Cane’s.
The duo takes his advice and ends the Kaans Designs Shark Tank journey with his offer of $75K as a loan for 10% equity.
More products from this episode! Check out other businesses that participated alongside Kaans Designs.
