Entrepreneurs Kenny Green and Ashley Green pitched their family lifestyle brand, Kaan’s Designs, on Shark Tank Season 16. The apparel company aims to preserve family memories. They offer t-shirts and accessories for the whole family, featuring printed family-related text and slogans.
They sought help from the Sharks to expand their lifestyle brand nationwide. So, did any of the Sharks invest and make room for this business in their valuable portfolios? Let’s see what the latest update is on this.
| Company Name | Kaan’s Designs | |
| Founder/Co-Founder | Kenny Green and Ashley Green | |
| Founded | 2014 | |
| Product | lifestyle apparel brand | |
| Asked For | $75K for 15% Equity | |
| Final Deal | $75K as a loan for 10% Equity | |
| Shark | Todd Graves | |
| Episode | S16 E6 | |
| Air Date | Nov 22th, 2024 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Fort Wayne, Indiana, United States | |
| Annual (Revenue) | $200,000 *estimated | |
| Worth / Valuation | $500,000 | |
| Buy and Watch | Buy Now | Amazon Prime |
What Is the Background of The Founder?
Kaan’s Designs, a family-owned apparel business, was founded in 2014 by Kenny Green and Ashley Green.
Kenny is a freelance content creator by profession. After earning an MBA from Indiana Wesleyan University, he worked as a Digital Marketing Associate at Annie’s. Currently, he works as a Marketing Coordinator at his own company and also continues his freelance work as a digital content creator.
Business Pitch Episode Recap
Kenny Green and Ashley Green entered the Shark Tank and asked the sharks for $75,000 in exchange for 15% equity. They demonstrated their parents’ lifestyle brand, which encourages families to take pictures together.
Their business model works like print-on-demand; they keep blank t-shirts and hoodies in stock and print designs on them.
Ashley shared that their customer acquisition cost is $9.37, but the best part is that they have a 30% customer return rate. Kenny explained that the cost to make an adult t-shirt is $5.12 and a kids’ t-shirt is $4.24.
They sell adult t-shirts for $26 and kids’ t-shirts for $21. Additionally, their return on ad spend (ROAS) is 3x to 5x, which is positive for the business.
They surprised the sharks by revealing their lifetime sales of $3.2 million, which is from 2016 to the present, and their expectation of $300,000 in sales for 2024.
Additionally, their business is profitable, and they spend 5% of their revenue on advertising. However, they need the sharks’ help to expand their business into new product categories.
Kevin O’Leary, thinking this business was not a good fit for him, decided to drop out.
Lori Greiner liked the quality of the product, but since she doesn’t have expertise in the fashion industry, she is out.
Daymond John believes that Kenny and Ashley are doing well with their business and don’t need a shark, so he is out.
Todd Graves offered $75,000 as a loan at the industry-standard interest rate for 10% equity. He also approached Daymond John to provide mentorship to help grow the business.
Mark Cuban said he is out, as Todd and Daymond are the best sharks for this business. Kenny Green and Ashley Green accepted Todd’s offer.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Todd Graves | $75k as a loan for 10% equity |
| Kevin O’Leary | No Offer |
| Mark Cuban | No Offer |
| Daymond John | No Offer |
| Lori Greiner | No Offer |
| Founder’s (Countered) | $75k cash for 10% equity |
| Final Deals | $75k as a loan for 10% equity |
Kaan’s Designs Shark Tank Update
After accepting Todd Graves’ offer, Ashley backstage shared that she is very excited to work with Todd and receive Daymond’s mentorship.
Let’s see how this business performs in the future. All updates will be shared on this post.
You can check out Season 16 for more business progress reports.
I ordered from kaans original haven’t received merchandise contacted them got run around said many days was being delivered never has been then when I talked to them said would ship out I ordered 2weeks agoso just now being shipped told them I no longer wanted order but told can only get store credit no way to run a business