Female entrepreneur Kim Preis started a T-shirt company in June 2003 that offers an “Expected Due Date” line of clothing for pregnant mothers. These T-shirts have the child’s due date printed on them. The company’s first clothing line featured T-shirts with the text (“Due in”) printed on them.
Kim’s goal is to create a big brand for maternity clothing. However, due to the recession, sustaining her clothing business has become very difficult. She needs financial support and contacts to grow her business, which is why she came to Shark Tank to seek the Sharks’ help. Will any of the Sharks help her? Let’s find out.
| Company Name | Samson Martin | |
| Founder/Co-Founder | Kim Preis | |
| Founded | 2003 | |
| Product | maternity clothing line | |
| Asked For | $50k for 15% equity | |
| Final Deal | No Deals | |
| Shark | No Sharks | |
| Episode | S2 E8 | |
| Air Date | May 6th, 2011 | |
| Business Status | Out of Business | |
| Website | Visit Website | |
| Headquarters | Chicago, Illinois, United States | |
| Lifetime Worth (Sales) | $2M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
Kim entered Shark Tank with her two female friends and asked the Sharks for $50,000 in exchange for 15% equity in her company. She explained that she needed financial support and contacts from the Sharks to launch more clothing collections and produce them in mass for retailers.
She revealed that her lifetime sales over six years totaled $1.4 million. Last year’s sales were $90k, and her maximum annual sales had reached $400,000. However, like many other clothing businesses, her sales had declined due to the recession.
Kim has a trademark on the (“Due in”) line for maternity clothing, so no one else is legally allowed to print and sell T-shirts with this phrase.
Daymond John said that there are many small and big brands focusing on the same market and that it is very difficult to uplift a business that is struggling due to the recession. Therefore, he is out.
Kevin Harrington said he does not like the idea of working on other products without scaling the initial one, and he is quite confused about Kim’s business strategy. Therefore, he is out.
Barbara Corcoran said she wouldn’t be able to provide value to this business, so she is out.
Robert Herjavec said he couldn’t offer any help with this business, so he is out.
Kevin O’Leary told Kim to give him one reason to consider investing in her business. Kim mentioned that she had achieved $1.4 million in sales from her basement. However, Kevin responded that those were past sales and noted that sales are currently declining. Therefore, he is out.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Kevin Harrington | No Offer |
| Kevin O’Leary | No Offer |
| Robert Herjavec | No Offer |
| Barbara Corcoran | No Offer |
| Daymond John | No Offer |
| Founder’s (Countered) | No Counter |
| Final Deals | No Deals |
Samson Martin Shark Tank Update
Kim was deeply hurt by Kevin’s comments, as he told her that her business was “dead” and investing in it would be like “committing financial suicide.”
Despite the Sharks’ lack of interest, Kim continued to work on growing her business after Shark Tank. However, due to ongoing financial issues, she had to close her business in May 2012.
Samson Martin’s business has shut down, and Kim Preis now owns a personal styling service called Wear With Genes in Chicago.
Check out Shark Tank Season 2 Business Update.
The progress report of more businesses from Season 2 is shared here.
