Basic Outfitters Update | Shark Tank Season 8

Michael Dweck couldn’t find an easy, affordable way to replace his worn-out basics. So, he and his wife Lauren came up with a solution: Basic Outfitters. Their “Create a Drawer” service is designed to help men refresh their entire sock and underwear collection without overspending. But will the sharks see the value in this idea? Let’s dive into our Basic Outfitters update and pitch recap to find out.

If you’re short on time, here’s a quick overview of what happened to Basic Outfitters after Shark Tank.

Lauren and Michael entered Shark Tank Season 8, seeking $125,000 for 10% equity in Basic Outfitters. Despite receiving two offers, they left without a deal.

In terms of a Basic Outfitters update, the company saw tremendous success after its episode aired. However, by 2020, Basic Outfitters became inactive after Michael and Lauren left the company,. Since then, their website and social media has gone silent and products are no longer available for purchase.

Shark	Result
Lori Greiner	$125,000 for 20% equity
Kevin O’Leary	$125,000 for 25% equity
Daymond John	No offer
Mark Cuban	No offer
Robert Herjavec	No offer

Shark Tank Basic Outfitters Pitch

• Entrepreneurs: Lauren and Michael Dweck
• Business: High-quality and affordable men’s essentials
• Ask: $125,000 for 10% equity
• Result: No Deal
• Sharks: None

Michael and Laura Dweck want to make it simple for men to refresh their wardrobe basics with their “Create-a-Drawer” service.

They sought an investment to help them expand their inventory and scale the business to meet increasing demand.

Basic Outfitters is a direct-to-consumer (DTC) e-commerce brand that sells men’s essentials such as underwear, socks, t-shirts, and loungewear.

Their business model revolves around offering curated bundles of these basics at affordable prices, with the standout feature being the “Create-a-Drawer” service.

This allows men to easily purchase a complete set of wardrobe essentials—all in one go.

With the entire process online, customers can browse the available bundles or individual items, place their orders, and have everything delivered right to their doorstep.

It’s designed to offer a convenient, hassle-free shopping experience.

The brand primarily targets men who are looking for an easy, cost-effective way to update their basics without frequent shopping trips.

It’s especially appealing to those who value convenience, as it streamlines the process of restocking wardrobe essentials quickly and affordably.

Plus, the brand’s commitment to ethical and sustainable production, using WRAP-certified factories, means you’re getting quality products that are made responsibly.

Each drawer costs an average of $25.90 to produce, and they sell it for $60, giving them a profit margin of about 57%.

Laura and Michael shared their vision, impressing the sharks with the quality of the products, especially given the affordable price.

However, Daymond John raised concerns about the market potential.

Laura and Michael confidently responded, projecting that they would reach $500,000 in sales by the end of the year.

Despite the promising sales numbers, the sharks’ interest started to fade. They learned that Laura and Michael only owned 25% of the company, having sold 75% to other investors.

Mark Cuban was the first to exit the negotiations, followed by Robert Herjavec and Daymond.

This left only Kevin O’Leary and Lori Greiner still considering an investment.

Kevin offered $125,000 for 25% equity. However, he insisted that the equity must come from the other investors, not from Laura and Michael’s remaining share.

Lori also made an offer, but the Dwecks countered with 15%. At that point, Kevin backed out, feeling the founders no longer had enough control over the business.

Lori tried to counter with 20%, but ultimately, she too withdrew, leaving the entrepreneurs without a deal.

Let’s see what happened next for them in our Basic Outfitters update.

Shark Tank Basic Outfitters Update

Our Basic Outfitters update found that the company’s revenue skyrocketed by 1,000%, reaching $5 million in sales shortly after the episode aired.

They also expanded their reach, starting to ship to Canada and even considering a “Create-a-Drawer” service for women.

In 2018, the couple was recognized on the Forbes 30 Under 30 list.

They also secured a partnership with JetBlue, featuring their products in the airline’s Mint amenity kits.

In addition, they set up pop-up shops and grew their Amazon presence, further boosting the brand’s visibility.

However, our Basic Outfitters update research found that Michael and Lauren left the company in June 2019, although the details of the transition remain unclear.

In early 2020, the company’s social media accounts went quiet, with the last post in January.

Their website stopped selling products, and items on Amazon were marked as “currently unavailable,” suggesting the business had shut down.

While a website redesign in September 2022 hinted at a possible comeback, at the time of writing, the company remains inactive with no significant updates.

If we get another Basic Outfitters update, we will let you know.

Be sure to check out updates for the other companies featured on Shark Tank Season 8 Episode 12:

• PDX Pet Design Update
• Victory Coffees Update
• Naturally Perfect Dolls Update

Before you go, check out our Shark Tank Season 8 page for more updates.