Local fashion line KIN Apparel is getting an infusion of capital after founder Philomina Kane captivated two investors on Friday’s season 13 premiere of “Shark Tank.”
The Philly-based founder and Princeton University graduate previously worked with natural haircare startup NaturAll Club as the company’s marketing director, according to her LinkedIn profile. Early last year, Kane left the startup to pursue her own venture — a line of hoodies that are lined with satin to protect hair from breakage and keep it moisturized. The apparel line also offers beanies and bucket hats, pillowcases and a handful of other accessories.
The founder, who is also a YouTuber, had been documenting her own hair health journey on the video platform, with an aim to educate other Black women about hair care. She found herself wrapping her hair to wear hoodies because the traditional cotton material broke down and dried out her hair. So, she began work on a hoodie that would both look cute, fit larger hair styles, and protect and moisturize the wearer’s hair.
Kane told sharks that her main issue now is that she needs to keep up with demand. After posting about the line on Instagram and TikTok, she’s sold out multiple times, she said, and in 2020, the company made $246,000, with sales hitting $355,000 already this year.
Kane came to the show seeking a $200,000 investment from the sharks in exchange for 10% equity. After talks with all of the investors, shark Lori Greiner and guest judge Emma Grede — the CEO of the Khloe Kardashian-cofounded apparel company Good American — took the bait. With some negotiating, the pair made a deal for $200,000 in exchange for a 30% stake in the company.
The founder got emotional, telling the sharks, “I’m crying because I’m so happy. They’re happy tears, because, wow, ya’ll want to make a deal with me.”