Usually, products don’t innovate backward, but Supply Razor is changing that. Husband and wife team Patrick and Jennifer Coddou want you to do away with your multi-blade razors and get a closer, cleaner shave using an old favorite. Will the sharks appreciate a more sophisticated shave during the
Shark Tank Supply Razor Update
- Entrepreneur: Patrick and Jennifer Coddou
- Business: Modern straight razors and shaving kits
- Ask: $300,000 for 10% equity
- Result: $300,00 for 15% equity
- Shark: Robert Herjavec
Patrick and Jennifer Coddou stepped into the tank with a theatrical pitch. Straight razors were used for centuries before the 1970s—they’re even good enough for George Washington, who appeared to help them pitch their product.
Multi-blade razors, they say, create more friction and delve below the surface of the skin, creating razor burn and bumps. They’re offering a modern take on the old classic straight razor with Supply Razor.
Their demonstration included samples and an explanation of how men could get a better shave with a straight razor. Most of the sharks were on board at this point and stayed that way when the Coddous talked about their sales. It turns out that Supply Razor is projected to do $2.5 million dollars by the end of the year.
Despite the numbers, Lori Greiner was out right away, as it just wasn’t the right product for her. Guest shark Daniel Lubetzky didn’t know how he could add value, and Mark Cuban liked his multi-blade razor too much. So both of them dropped out.
Kevin O’Leary was the first to make an offer: $300,000 for 5% equity and $1.50 per unit in perpetual royalties. Robert Herjavec was interested as well, so he counteroffered. He would give the Coddous $300,000 for a 15% stake in the company, which looked all the more attractive without the royalties.
The Coddous tried to get Robert to increase his investment, but Robert wasn’t budging. After a moment’s consideration, they decided to accept Robert’s offer. Was it a sound investment on his part? Find out in our Supply Razor update.
Today, Supply Razor offers an upgraded version of the razor they were selling on
During research for our Supply Razor update, we found sources reporting that Supply Razor is selling $1 million worth of product each month thanks to their own ingenuity and Robert Herjavec’s investment. They aren’t slowing down any time soon!
You can find the other company updates from Season 11 Episode 6 here:
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