Kent Underwear Shark Tank Update – Net Worth 2024

Kent Entrepreneurs Jeff and Stacy, a beautiful couple, created an underwear brand that manufactures compostable underwear for men and women. Their pants are made from 100% organic Pima cotton, also free from synthetics, microplastics, and petrochemicals. They have a very catchy slogan, “Plant Your Pants,” because, as they claim, you can turn your undies into fertilizer in less than 90 days.

Kent Underwear appeared in Shark Tank Season 14 Episode 1 to get investment from sharks. The product quality and financial details left all sharks in WOW effect. In case you missed episode 1 of season 14, here is the juicy and interesting update of your favorite show.

Kent Underwear Net Worth

KENT Underwear net worth is $1.3-1.5 Million dollars. The company is still in business and is thriving. After Daymond’s deal in  ‘Shark Tank,’ the company’s progress has only increased, as had been expected in light of its climate and eco-friendly initiatives. It was ranked the 4th best-selling underwear brand by a popular clothing website (Ecothes). Though the progress is rather slow, it is only a matter of time before it secures the top spot owing to it being the only compostable clothing brand.

Kent Shark Tank Update

Jeff and Stacy want the capital and expertise to grow their business exponentially. They asked for $200K for a 5% equity at a $4 Million Valuation.

What Happened to the Kent Underwear after Shark Tank?

Daymond John who is the chief executive officer of FUBU, which happens to be an apparel company, signed a deal with KENT. His deal was readily accepted by the owners because of his apparent fashion expertise in their eyes. The partnership was first announced on social media in September 2022 and later confirmed by a press release in October 2022.

The company has been in talks with popular retail stores to sell their products. Plans to broaden internationally have also been expressed, but at the moment, the company only ships to the USA, Canada, the UK, and Australia. The product is still, however, not available on Amazon. Renowned business information sources like the Financial Times and other digital media websites such as Refinery29 and Treehugger have all featured KENT, along with The Cut, a New York fashion magazine, which was declared an absolute favorite.

Did the Kent Underwear get a Deal on Shark Tank?

Yes, four offers were made to the company, and it accepted the very last that came its way. Daymond John made a deal of $200k with 15% equity, and although the owners initially only wanted to offer a 5% equity, they couldn’t help but accept. It costs the company $8.7 to make one pair of underwear, and it is sold for $20 -$24. This was declared relatively expensive by the sharks.

Shark(s) Involved	Offer made	Demand	Accepted?
Barbara Corcoran	$200k	20% Equity	No
Daymond John	$200K	15% Equity	Yes
Lori Greiner	$200K	15% Equity	No
Mark Cuban	N/A	N/A	N/A
Kevin O’Leary	N/A	N/A	N/A
Robert Herjavec	$200K	15% Equity	No

Kent Enterprise products

Kent is a brand that manufactures underwear for both males and females using organic pima cotton. All their products are made from 100% organic, plant-based fibers and free from synthetics, microplastics, and other materials that can damage the environment. And the best part is their underwares get composted easily, so there is no more harm to Mother Nature.

This is a premium product that costs from $20 to $114. Pima cotton is the main reason for their higher range in terms of cost. This type of cotton mainly grows in Peru, which is only 2% of the world’s cotton and is 100% organic.

The organic pima cotton is GOTS (Global Organic Textile Standard) certified. Jeff and Stacy have a mission to bring change in the fashion industry that is good for both people and the planet.

Kent Underwear Founders

Stacy and Jeff Grace started this business in 2016 in Los Angeles, California. Stacy worked in the fashion industry for almost 10 years and witnessed the amount of waste generated. All the waste from apparel ends up sitting in landfills, and sadly, it requires over 200 years to split into microplastics that pollute the earth.

His husband, Jeff, started his career in advertising and worked with big consumer packaged goods brands. After they got together, He thought of doing something entrepreneurial. So, considering his background, she onboarded him on the team and helped build the brand.

They also shared a beautiful story in Episode 1 of Season 14, saying they welcomed a new partner, their son, 11 weeks ago. Jeff said that when they hold their son and look into his eyes, they realize that it’s not only important to create a successful business because they have another mouth to feed but also to create a sustainable future for him and upcoming generations.

Pitch and Initial Presentation

In the beginning, Stacy told the dirty little secret of the fashion industry, where millions of pounds of underwear end up in landfills daily. Jeff also said that most apparel is made from plastics-based fabrics that are bad for human health and our planet’s environment.

To make their pitch more appealing to sharks, he pulled the cloth from a glass cylinder-shaped box filled with underwear, and in parallel, she uncovered the box filled with soil and fertilizer with an artificial plant, saying, “We could turn this (underwear) into this (fertilizer).”

They also introduced the world’s first verified compostable underwear that is 100% plastic-free and 100% organic. Focusing on their USP (Unique Selling Point), she mentioned that when it’s time for you to expire that underwear, you can literally throw it in the compost, and in only 90 days, it will turn into nutrient-rich soil.

Discussion on Pitch and Offers

The sharks were impressed by the confident and interesting pitch from KENT Entrepreneurs. Lori said she did not expect the cotton underwear to be this thick, stretchy, and soft. They also said some funny lines about asking judges to try them on live TV, and all of them laughed their hearts out; then she showed the picture of all the judges wearing KENT underwares on the screen.

Barbara asked,” What does it cost to make it, and what do you sell for one pair?”. Stacy told them the cost, which is $20 – $24. They all said it’s a little expensive for one pair of underwear. She also told them that it is made in California for $8.7.

In 2022, their sales reached $99,000, marking a significant growth from their first year in 2016, where they earned $30,000, and showing a slight decrease from their $120,000 revenue in 2017. A substantial 85% of their sales are generated through direct-to-consumer (D2C) E-commerce, while the remaining 15% comes from a single retail wholesale partner. This year, they look forward to expanding their market presence by partnering with another major retailer.

Mark Cuban liked the concept of their product, but he didn’t propose any offer. Daymond also found it risky, so he is out of it, too. The first offer came from Barbara Corcoran for $200K for 20% equity. Judge Robert Herjavec became interested in the business and offered $200K for a 15% equity.

Later, Lori Greiner also found it a good investment business, so she matched Robert’s offer. At this moment, an unexpected thing happened: Daymon John jumped in the middle of the deal and offered $200K for 15% Equity.

Negotiation and Final Deal

Stacy and Jeff didn’t opt for negotiation and decided to close the deal with Daymond, a good partner, investor, and mentor for their business. The couple thinks of Daymond as the Fashion Guru. The final deal was set on $200K for 15% equity. They signed the deal at a valuation of $1.3 million, which is a good thing for Kent Entrepreneurs.

Product Availability

Kent manufactures underwear in different sizes for males and females using organic pima cotton. All their products are made from 100% organic, plant-based fibers and free from synthetics and microplastics. The underwear ranges in price from $28 – $144. You can buy this product from their website.

The company ships its products to the United States, Canada, the UK, and Australia. All Kent products are hand and machine-washed and are the world’s only compostable underwear.