During rush week, sororities have a long standing tradition of dressing in unison. This can lead to some issues with fittings and multiple sororities accidentally dressing the same. That’s why Sharon Bui and Kate Steadman have created a custom clothing brand that makes custom items for sorority chapters. Will their company get a deal on
Shark Tank Frill Clothing Update
- Entrepreneurs: Sharon Bui and Kate Steadman
- Business: Custom clothing for sororities
- Ask: $100,000 for 20% equity.
- Result: $100,000 for 30% equity.
- Sharks: Kevin O’Leary and Barbara Corcoran
Sharon and Kate brought some girlfriends with them to the tank, and the ladies were all wearing matching samples from their line, Frill Clothing. They explained that their custom recruitment clothing for sororities to all dress alike during rush week, was popular with over 3000 sorority chapters across the U.S. and in Canada. One feature of the company was to ensure that no two chapters at any college would have the same clothing. They went from school to school, selling their custom clothing.
The company was started when these two entrepreneurs were still in college, with only $500.00 to invest. It’s pretty remarkable that at the time of filming, they had now reached $400,000 in lifetime sales. The ladies explained that it cost them $24.00 to make a piece of clothing and they sold it for between $60.00 and $70.00. The sharks wanted to know what the company would use an investment for. Kate and Sharon responded that the money would be used to increase production and improve margins, by placing larger orders of their clothing.
Mark Cuban decided that he couldn’t provide any value, so he dropped out. Barbara Corcoran however quickly jumped in to make an offer of $100,000 in exchange for 33% equity. Kevin O’Leary also decided to make the exact same offer. Robert Herjavec decided to offer them exactly what they had asked for; $100,000 in exchange for 20% equity.
After some back and forth, Barbara and Kevin teamed up on their original offers and Kate and Sharon countered them, asking if they’d drop down to $100,000 for 30% equity. The sharks agreed and Kate and Sharon accepted their offer! What happened next for their company? Keep reading our Frill Clothing update to find out!
We have good news to report in our Frill Clothing update. The deal with Kevin and Barbara finalized shortly filming and the company experienced a lot of success immediately after the episode aired. It appears the company was sold for an undisclosed amount of money but products are still available online. To shop their products, check out the Frill Clothing website.
Would you like to learn about the other companies featured on Season 6 Episode 21? Follow the links below for our other company updates from the episode.
For even more on companies and products, be sure to stop by our Season 6 Products Page!
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Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!