'Shark Tank': KINApparel's Philomina Kane cries after Lori and Emma offer $200k deal
While Mark Cuban pointed out that Philomina Kane was a 'ready, fire, aim' kind of person, Emma Grede and Lori Greiner saw KINApparel's potential
When it comes to products on 'Shark Tank', not all of them are over the top inventions. Sometimes, these products are simple and effective solutions to everyday problems -- not everyone is out to reinvent the wheel. It's usually these seemingly simple products that often shine, as they provide an answer to a collective issue.
For Philomina Kane of 'KINApparel', a woman with Ghanaian roots who has always been an advocate for haircare, realized the lack of quality silk-lined clothing apparel in the market. As a Black woman who takes pride in her hair, exposing it to the wrong kind of fabric can make your break your mane, literally. Through KINApparel, she hopes to bring quality clothing to people invested in their haircare routine. But will she get Mark Cuban, Lori Greiner, Barbara Corcoran, Kevin O'Leary or guest shark Emma Grede to invest in her?
Kane came on the show looking for a $200,000 investment for 10%. Although Kane studied ecological biology, she understood the requirement for a quality product for women who invest in hair care. When it came down to numbers, the sharks were a little taken aback by the fact that she had only $500 in inventory, however, Kane managed to make $246,000 in sales when she started and $350,000 currently, without spending a penny in acquisition. As she explained it, the power of social media has worked tremendously for her as the brand keeps going viral.
O'Leary stepped out when it came down to who would take the bait, saying that he has never been into haircare and declined to make an offer. Corcoran, who appreciated her creativity, also mentioned that hyper-creative people like Kane act on every impulse and to succeed, she needs someone who is her polar opposite. Cuban agreed, saying that she was a 'ready, aim, fire' person and working with her meant he had to keep reeling her in, which was not possible.
It finally came down to Grede and Greiner. Grede, who knows the industry like the back of her hand, pointed out that while the business has its fair share of kinks, retailers are looking for brands with Black female founders now more so than ever. She explained that she and Greiner understand the landscape better than anyone else and can help the brand become big. They made a combined offer of $200,000 for 30% stake. Kane made a counteroffer for 20% stake for the same amount, but they flat out refused. It was within moments that Kane broke down on camera. When asked why she was emotional, she explained it was happy tears, seeing that Greiner and Grede wanted to make a deal with her. She took the deal, kicking off the first episode to a great start.
Kane wasn't the only one who got emotional, but fans did as well. "Just sitting on my couch on Friday night crying watching #SharkTank" tweeted a fan. "#kinApparel is so dope! We all need self-care #SharkTank #hair #HairCare #BlackBusiness" added another.
"It’s because of Emma. The rest of the hosts don’t truly understand the importance of kin apparel #SharkTank" stated another. "People of color aren't the only ones who sleep on satin pillowcases. They preserve your hairstyle, as well as hair condition. I've slept on satin pillowcases for years. Hers have an easy closure too. Glad Kin got a deal. #SharkTank" pointed out a fan.
Just sitting on my couch on Friday night crying watching #SharkTank— Kari M (@MissKari24) October 9, 2021
It’s because of Emma. The rest of the hosts don’t truly understand the importance of kin apparel #SharkTank— Charlene M (@chika1sg0lden) October 9, 2021
People of color aren't the only ones who sleep on satin pillowcases. They preserve your hairstyle, as well as hair condition. I've slept on satin pillowcases for years. Hers have an easy closure too. Glad Kin got a deal. #SharkTank— Ev Sagan 🖖 (@EvSagan) October 9, 2021
‘Shark Tank’ Season 13 returns to ABC on October 8, 2021, at 8 pm ET. Catch the latest episode on Fridays, from 8 pm ET to 9 pm ET.
Missed an episode? Been wanting to catch up? Episodes can also be viewed the next day on demand and on Hulu. Not just that, you can also watch old seasons and episodes on Amazon Prime Video and iTunes.