One clever laundry solution impressed the ‘Shark Tank’ panel — but success nearly slipped away after
Since its inception, 'Shark Tank' has introduced many amazing products to the market, including Umano, PROVEN Skincare, EverlyWell, etc. However, not all brands that make it big do so because of a Shark deal. Unshrinkit, founded in 2014 by two Harvard graduates, Desirée Stolar and engineer Nate Barbera, appeared in Season 7 of the show in 2015, claiming 5,000 units sold and $35,000 in revenue. The product restores shrunken wool garments, eliminating the need to buy replacements after just a few washes.
The entrepreneurs also projected annual revenue of $130,000. Though the founders had strong numbers, they entered 'Shark Tank' seeking $150,000 for 10% equity, hoping to boost brand awareness and expand retail presence. To convince the Sharks, Stolar wore a sweater she had restored using the product. Despite the green flags in their pitch, Sharks Robert Herjavec and Lori Greiner remained unconvinced, questioning the scalability of the product and its market size. To everyone’s surprise, Kevin O’Leary offered $150,000 for 33.3% equity, Daymond John offered the same for 25%, and Mark Cuban countered with $150,000 for just 15%. Eventually, Stolar and Barbera sealed the deal with Cuban.
Interestingly, after 'Shark Tank,' things didn't work out as planned. In a 2020 interview with Inspired Insider, Stolar admitted her disappointment for not hitting the expected sales post their appearance on the show, revealing the brand received only a quarter of the expected website traffic. However, the company got its Mojo at the end of December 2015, even exhausting its inventory as a result. Later, the company targeted young male college students, a move that proved to be a game-changer. The brand not only grew online followers but was also featured in big-selling magazines and outlets like including Good Housekeeping, Boston Magazine.
According to the outlet, the brand was later sold to an aggregator-operator group, and its social media has remained inactive since. According to Shark Tank Recap, in 2023, the business showed a whopping growth of $1.5 million in sales. The brand is still operational via its official website and is also offering products on Amazon. As per Stolar's LinkedIn profile, she has moved on to be Chief Talent Management and Global Employee Programs Officer at Burson. She also works as an executive coach at Unshrinking Life, her personal coaching venture.
