Whitney Lundeen came to
Shark Tank Sonnet James Update
- Entrepreneurs: Whitney Lundeen
- Business: Women’s Clothing
- Ask: $350,000 for 25% equity
- Result: $350,000 for 25% equity
- Sharks: Sara Blakely
With 75% margins and her dresses being manufactured locally in California, Whitney was pleased to admit to the sharks that her company margins are reasonable. A single dress can be made for about $35 and her average sales price is well over $120. All of her sales are direct-to-consumer through her own website as well, a positive thing for the sharks to hear.
Let’s take a look at some of Whitney’s sales numbers for her company. In the first year the company was launched, it managed to generate $84,000 in gross sales. In the most recent year, Sonnet James generated more than $1.2 million in online gross sales.
Almost all of the sharks were moved by Whitney’s personal childhood story of overcoming abuse, but Kevin O’Leary raised some concerns about the valuation. He asked Whitney to justify the $1.4 million imputed valuation that she was asking for, but guest shark, Sara Blakely, quickly interrupted Kevin and instantly made an offer of $350,000 for 25% equity.
Whitney quickly accepted an offer that would give her and her company exactly what she was asking for when coming on
Let’s shift the focus now to our Sonnet James update to see how the company is doing since its appearance on
Whitney’s dresses have appeared on popular magazine covers and her sales continue to exceed more than $5 million annually. This is one of the great company success stories that has come from
You can find the other company updates from Season 10 Episode 11 here:
Don’t forget to take a look at our Season 10 products page! We’ve got more company updates from
We’ve partnered with six companies to put together a Shark Tank Stocking Stuffer Box that’s worth $100! Here’s everything that’s in the box:
- Sheets Laundry Club Travel Packs x2
- Honey Bee Bars - 12 Pack
- Snactiv Finger Chopsticks
- FryAway Cooking Oil Solidifier
- Pizza Pack
- Nature’s Wild Berry Sampler Pack
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!