Connect with us

Hi, what are you looking for?

$ [0%] $ [0%] $ [0%] $ [0%]Waters Corp 344.13$ [0%]
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Entrepreneurship

Entrepreneurship

How Kane Makes $350,000 from a Hoodie Company started by only $500?

Kin Apparel CEO, Philomena Kane
Kin Apparel CEO, Philomena Kane- Image from pixabay

Kane had just graduated from the University of Princeton with a degree in biology. However, she had an issue with falling hair, so the best decision was to cut it off, a report by CNBC. That brought the idea of Kin Apparel.

As the hair grew slowly, she had to cover it to feel comfortable. In an interview with the ABC, ‘shark tank’ episode, Kane said ‘”I found myself always putting a scarf on before a hoodie,” Then she decided it was time to get some satini lined hoodies for the next fashion.

During the Covid-19 pandemic in 2020, Kane decided to venture into Kin Apparel. She only had $500 while at the Bronx in New York. Over time, he has managed to attract many customers. As a result, her sales have risen to over $350,000. Kane has confirmed that the current sales run to $350,000.

Recently, she has been looking for more investors to expand the business. Earlier this month, Kane signed a deal with guests Shark Emma Grede and Shark Lori Grenier. They offered $200,000 in exchange for taking 30% of his company’s shares.

Since she believes in keeping things natural, that’s where the name Kin Apparel originated. The company specializes in sweatshirts that have satin-lined hoods that prevent moisture. They also accommodate a number of hairstyles if one needs to cover the head.

Kane talked about the importance of her hoodies to guys with long and big hair. She proceeded, “Consider the girls with big, beautiful curls who can’t find a hood big enough to fit her hair, or the guy with [dreadlocks] trying to stop lint balls from forming on his hair,.”

The founder of denim-brand Good American and Grade said she was attracted to Kane’s idea and story. She opened up on how retailers are busy searching for black female founders to collaborate with. The partner with Kim Kardashians, shapewear-apparel, said the Kin Apparel audience would also be useful to her brand.

Kane, a young hoodie CEO, has almost 200,000 YouTube subscribers. The main content is about black people, especially women, focusing on embracing their hair. Also, on Instagram and TikTok, the girl has thousands of followers. She has spent less in acquiring customers’ attention since most of the buyers are from those social media accounts. At some point, she confirmed that the demand was higher than what she could take to the market.

To stop being pre-ordered, she went ahead to take her $150,000 in the bank to invest more. She also took $200,000 from Sharks in exchange for 10% as equity. Although she struggled to negotiate about the 10%, the Sharks demanded 30%, which became the final agreement.

Kane grew up in Ghana. Her parents were against her shift of career, but this always happens to many people. Kane had plans to attend a public health course at Columbian University. Instead, her parents had forced her to study and get a good job in the health industry. But the invention of Kin Apparel has changed her life.

Shark mark, one of the investors, has urged the founder to work with companies that complement her work. It’s the best idea to sit around with people chasing similar dreams. To be creative in business, you need a team of positive attitudes.

An entrepreneur always run made knowing what they can’t do. It makes them crave much knowledge about a certain product. Research is the best teacher while expanding your mind. Over the years, Kane has promised to grow Kin Apparel to one of the biggest textile industries in the world. She yearns to collaborate with big brands like Adidas and Kim Kardashian swear.

MORE :


Comment Template

You May Also Like

Tim Cook

The Journey of Tim Cook

8 min read

Timothy D. Cook is the chief executive officer (CEO) of Apple Inc. Timothy graduated from Auburn University with a bachelor’s degree in industrial engineering. Later on, Crook attained an MBA fr...  Read more