Umano was a family, garage-based business that turned children’s designs into high-fashion shirts and accessories. Kids created the artwork on the shirts, so Jonathan and Alex Torrey donated a bag of school supplies to a child in need for every shirt sold. They’re seeking $150,000 for 15% of their business in
Shark Tank Umano Update
- Entrepreneurs: Jonathan Torrey and Alex Torrey
- Business: Philanthropic fashion to empower kids
- Ask: $150,000 for 15% equity
- Result: $150,000 for 20% equity
- Shark: Lori Greiner and Mark Cuban
Jonathan and Alex started off at home, showcasing how they ran Umano out of their garage. They said they needed the funds for inventory because they were missing out on sales due to low supply.
When they arrived on
When Daymond John asked if they paid royalties to the artists, Jonathan and Alex explained that they were a social entrepreneurship brand. In short, the artists got no royalties from their sales.
Kevin O’Leary asked if their profit suffered because of the giving. They explained that they will give more as the company grows. Since the company was so new, Kevin went out. Robert went out, too – he said it was a tough business, and not for him.
Lori Greiner, on the other hand, loved their mission. She offered $150,000 for 25%. Daymond was interested, too, and offered $150,000 for 33.3%. Mark Cuban jumped in with an offer of $150,000 for 20%. He also offered for either Daymond or Lori to come in with him. He thought the company needed help with online sales.
Lori agreed to go in with Mark on the deal, and Jonathan and Alex accept! Let’s check our Umano update to find out where the company is now.
Jonathan and Alex got a boost from appearing on the show. Directly after the show aired, they sold more shirts than ever before. However, our Umano update research turned over some bad news.
In March 2017, they decided to shut down the brand and stop selling all clothing items. The brothers each started a business after Umano was shut down. They hope to create a more significant social impact than Umano through other companies.
This will be our final Umano update.
Don’t forget to check out our other company updates from Season 7 Episode 9, which you can find below.
For more on companies and products, don’t forget to check out our Season 7 Products Page.