Nana Hats Update | Shark Tank Season 14

Sean Adler realized the frustration of bananas ripening too quickly while trying to manage fresh produce at home. Watching bananas turn brown within days highlighted the waste and inconvenience many people face. He developed Nana Hats, silicone caps with playful crocheted covers, to slow down ripening by reducing ethylene gas absorption. This fun solution keeps bananas fresh longer and reduces food waste. Will Sean’s idea appeal to the sharks? Let’s find out in our Nana Hats update and pitch recap.

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

Sean entered Shark Tank Season 14, seeking $150,000 for 10% equity in his banana preservation business, Nana Hats. After his pitch, he secured a deal with Lori Greiner and guest shark Peter Jones for $150,000 for 20% equity.

In terms of a Nana Hats update, the company received about 12,000 emails with proposals and sales inquiries shortly after its episode aired. In addition, Nana Hats has achieved an estimated net worth of $750,000 to $1.11 million.

Shark	Result
Lori Greiner & Peter Jones	Accepted offer of $150,000 for 20% equity.
Kevin O’Leary	$150,000 for 10% equity plus a $1 per unit royalty.
Mark Cuban	No offer
Daymond John	No offer

Shark Tank Nana Hats Pitch

• Entrepreneur: Sean Adler 
• Business: Banana Preservation
• Ask: $150,000 for 10% equity
• Result: $150,000 for 20% equity
• Sharks: Lori Greiner and Peter Jones

Sean entered Shark Tank seeking an investment in Nana Hats, his playful solution to slow down banana ripening and reduce food waste.

He explained that the investment would help scale production and expand distribution.

Sean begins by explaining how ethylene gas causes bananas to brown, setting the stage for his product’s purpose.

To illustrate, he pulls out a bunch of bananas topped with a Nana Hat and asks the sharks, “Who wants to help me put hats on all the bananas in the world?”

Nana Hats is a simple solution for quickly ripening bananas. The product includes silicone caps and crocheted hats that slow down the ripening process.

This helps keep bananas fresh for up to two weeks and reduces food waste. Customers can buy Nana Hats online through the company’s website, Amazon, or retail stores.

The brand also works with platforms like Tundra and Faire to sell in bulk.

Each cap fits over the banana stem, and the hat goes on top.

This design is easy to use and reusable. Customers can choose from fun designs, such as animals and themed patterns.

Lori Greiner questions whether the ethylene gas is entirely blocked. Sean clarifies that while it’s not completely shut out, the product extends a banana’s shelf life.

The conversation shifts to pricing as Sean reveals that a two-pack of Nana Hats sells for $12.99, with a production cost of $1.95 per pack.

Inspired by frustration with single-use plastics in 2016, Sean developed the idea and created the first 1,500 units in 2020 during the pandemic lockdowns.

In 2021, Nana Hats made a total of $483,000 in sales, and by 2022, he projected $600,000 in sales and a profit of $240,000.

60% of sales come directly from consumers, while 40% stem from wholesale orders, largely through a major online gift retailer.

Lori asks if he’s approached grocery stores, and Sean shares that he’s been actively pursuing those opportunities.

Mark Cuban says he likes the product but won’t be an investor because of the business’ size. He’s out.

Daymond John echoes Mark’s sentiment, adding that Sean’s pending utility patent and solo operation suggest he doesn’t need an investor. He’s out as well.

Guest shark Peter Jones expresses confidence in the product and offers $75,000 for 15% equity, contingent on another shark joining him.

Lori agrees to partner with Peter, proposing a joint offer of $150,000 for 30% equity, split equally between them.

Kevin O’Leary counters with $150,000 for 10% equity plus a $1 per unit royalty, but Peter insists Sean should accept his and Lori’s offer.

Sean negotiates and counters with $150,000 for 15% (7.5% each), but Lori and Peter hold firm at 20% (10% each), highlighting their global scaling expertise.

After weighing his options, Sean accepts their offer, gaining two strategic partners to help grow Nana Hats.

Now, let’s jump ahead and see the latest Nana Hats update.

Shark Tank Nana Hats Update

Our Nana Hats update found that no public information confirms whether the deal with Lori and Peter was finalized after the episode aired.

However, Nana Hats received substantial attention, including approximately 12,000 emails related to proposals and sales inquiries.

The company’s customer feedback on Amazon has been mixed, with some customers expressing concerns about the product’s fit on larger banana bunches.

At the time of writing, our Nana Hats update we couldn’t find any updated sales numbers. However, we reached out to Sean and he said, “Our sales after Shark Tank are consistently higher than before.”

So it looks like things are trending in the right direction for our next Nana Hats update!

For more updates on companies from Shark Tank Season 14 Episode 6, be sure to check the links below:

• Collars & Co. Update
• Square Keg Update
• Wondry Update

Before you go, check out our Shark Tank Season 14 page for more updates.