Sock Candy Shark Tank | Season 16
Sock Candy founder Mary Gui shows off her fun socks on Shark Tank (Image Credit- Shark Tank)
Do you feel that even after dressing up, something’s still missing? Trendy dresses, ripped jeans, and stylish shoes are all up with the trend. But those boring, lame pairs of socks? Not so much. Why are socks still so dull? Sock Candy fills that market gap by offering creative and eye-catching pairs of socks.
Entrepreneur Mary Gui founded Sock Candy to address this very issue. Passionate about collecting trendy, vibrant fashion pieces, she struggled to find the right pair of socks that matched her style. This led her to create a company that makes socks designed to finally complete the look. She appeared on Shark Tank Season 16 seeking investment.
Will the sharks put their feet in her socks?
About Sock Candy
| Category | Details |
| Founder | Mary Gui |
| Product Type | Fashion socks |
| Funding (Pre-Shark Tank) | Self-funded |
| Investment Asked | $150,000 |
| Equity Offered | 5% |
What Happened on the Shark Tank Episode?
Entrepreneur Mary Gui appeared on Shark Tank Season 16, Episode 16, presenting her adorable socks business. She explained that the socks industry has not been explored enough. She delivered an engaging pitch, demonstrating how her socks take the fashion game one step further.
Mary gave each shark a pair of her Sock Candy socks. Each pair of socks has a different personality. Barbara got colorful floral styles, and Lori received feminine and edgy styles. The men among the sharks were also given larger sizes of Sock Candy socks to slip on.
Barbara asked Mary about her background. The entrepreneur is a first-generation Chinese-American. She came to the U.S. at the age of six. Her single mom taught her to be strong and hardworking. Mary went to business school but was not happy since she wanted to get into fashion.
Mary quit her job and started her fashion blog. She slowly started gaining followers on Instagram, and her socks became the highlight of her posts, which inspired her to start the Sock Candy business.
Robert asked about the selling and production costs. The socks retail for $18 and wholesale for $9. The cost of making them is between $2.50 to $3. Robert said he was quite disappointed, as he expected better margins, and Mark agreed with him.
The business reported $826,000 in year-to-date sales, which impressed the sharks a lot. The business is projecting $1.4 million in sales this year. Mary told the sharks that the business was profitable. This year, they made a $300,000 profit.
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What Makes Sock Candy Unique?
Sock Candy creates one-of-a-kind fashion socks that come in bold colors. They have quirky combinations that instantly catch the eye. The prints on them are fun and whimsical. Their signature sheer socks are a perfect blend of funky and elegant, showcasing intricate, unprecedented details on delicate fabric.
The socks are made from nylon and cotton and are known for their whimsical and maximal designs. According to the entrepreneur, no other brand in the U.S. offers socks quite like these.
The entrepreneur claims that just one pair can transform any outfit from bland to thrilling. No matter what type of footwear you wear, these socks add a bold twist. They make you look effortlessly stylish and unique.
Did Sock Candy Get a Deal on Shark Tank?
Barbara shared that she invested in a similar company, Grace and Lace. That company went to Walmart, and after four years, they were doing $80 million in socks. However, when they tried to expand their product line, they got distracted, and sales went down.
Founder Mary Gui explained that her goal is to become the leading brand in fashion socks. She does not want to move away from socks. After that, the sharks shared their opinions:
- Shark Mark said he is a big socks guy. He even owns a lot of them. However, he does not feel that he is the right fit to become a partner.
- Robert felt that both the business and the entrepreneur were impressive. He shared that he believes immigrants have to work harder for themselves and their families. However, like Mark, he does not think he would add value to the business.
- Kevin offered $150,000 for 12.5% of the company.
- Barbara offered $150,000 for a 13% stake
After negotiations, the entrepreneur secured a deal with Shark Barbara for $150,000 in exchange for a 10% stake.
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What Happened to Sock Candy After Shark Tank?
The Shark Tank Blog keeps track of the businesses that appear on Shark Tank. We provide updates and follow-ups about entrepreneurs and the company, as well as anything that happened after the show. So, it appears that Sock Candy has gained increased visibility on social media platforms following their Shark Tank appearance. It has potential signs of active engagement from the show’s official accounts.
Where Can You Buy It?
Sock Candy offers many fun and stylish sock designs. They seem like a great way to add a bit of personality to your outfit. You can find these socks on their official website. Check out their social media for more updates.
Quick Summary
- Entrepreneur Mary Gui presented her fashion-forward sock brand, Sock Candy, on Shark Tank Season 16, Episode 16.
- Sock Candy features fun socks with whimsical designs. Their signature socks especially make a bold fashion statement.
- Founder Mary Gui secured a deal with Barbara for $150,000 in exchange for 10% equity in her company. The brand has gained increased online visibility and continues to grow.
