Kane and Couture Fashion For Dogs
DEAL
EPISODE SUMMARY
🕓 Air Date: September 27, 2013
Asking For:
$150,000 for 33%
Investor:
Lori Greiner, Daymond John (50/50)
Deal:
$150,000 for 40%
PRODUCT SUMMARY
Kane & Couture offers fashionable and functional canine lifestyle products including collars, harnesses, leashes, carriers, apparel, and accessories.
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Background Story
Kane & Couture, a canine lifestyle brand based in New York City, was founded by Amber Lee Forrester, a passionate entrepreneur with a background in fashion and a love for pets. The inspiration for Kane & Couture stemmed from Amber’s own struggles to find stylish and functional accessories for her beloved dog, Kane. Frustrated by the limited options available in the market, she saw an opportunity to blend her expertise in fashion with her dedication to providing high-quality products for pets and their owners.
Amber’s journey into entrepreneurship began with a desire to fill a gap in the pet industry by offering chic and practical accessories that reflected the latest trends in fashion. With her creative vision and determination, she set out to create a brand that would cater to pet owners seeking unique and fashionable items for their furry companions. Drawing on her experience in the fashion industry and her understanding of consumer preferences, Amber meticulously curated a collection of collars, harnesses, leashes, carriers, apparel, and accessories under the Kane & Couture brand.
Each product was designed with both style and functionality in mind, appealing to pet owners who desired to elevate their pets’ lifestyle with trendy yet practical accessories. Through dedication and hard work, Amber established Kane & Couture as a leading player in the pet fashion industry, securing partnerships with major retailers and expanding her product offerings to meet the growing demand from pet owners nationwide. Her commitment to providing stylish and high-quality products has earned Kane & Couture a loyal following and positioned the brand for continued success in the competitive pet market.
The Product
Kane & Couture offers a diverse range of canine lifestyle products designed to enhance both the style and functionality of pets’ accessories. Their product line includes collars, harnesses, leashes, carriers, apparel, and accessories, each meticulously crafted with quality materials and trendy designs.
Collars and harnesses from Kane & Couture are not only fashionable but also practical, featuring adjustable straps for a comfortable fit and durable hardware for secure attachment. Leashes are designed with sturdy construction to ensure safety during walks and outdoor activities. The company’s carriers combine style and functionality, resembling designer purses while providing comfort and security for pets on the go.
Apparel options include items like the Boyfriend Button-Down Shirt, offering a stylish twist on traditional pet clothing, and the Remi Pink Collar, perfect for pet owners looking to add a pop of color to their furry friend’s wardrobe.
Kane & Couture products can be purchased through retail stores, online channels, and the company’s website, offering convenience and accessibility to pet owners nationwide. Pricing varies depending on the product, with collars and leashes typically ranging from $20 to $24, and carriers priced competitively for their quality and design.
How It Went
The company’s position before Shark Tank
Kane & Couture has demonstrated strong performance and positioned itself as a reputable player in the canine lifestyle market. With sales reaching approximately $90,000 in the past year, the company has established a solid foundation for growth and expansion. Kane & Couture has cultivated partnerships with major retailers, including Macy’s, showcasing its appeal to a broad audience of pet owners seeking stylish and functional accessories for their furry companions.
The company’s wholesale partners encompass a variety of retailers, both brick-and-mortar stores and online platforms, allowing Kane & Couture to reach a diverse customer base nationwide. Their customers primarily consist of pet owners who prioritize both fashion and practicality when it comes to selecting accessories for their pets. In terms of funding, Kane & Couture has relied on a combination of revenue from sales and strategic investments to support its operations and growth initiatives.
With available capital earmarked for product development and marketing efforts, Kane & Couture is well-positioned to capitalize on emerging opportunities in the pet fashion market and further solidify its position as a leading brand. The company is structured with a dedicated team led by founder and president, Amber Lee Forrester, who brings a wealth of experience in the fashion industry and a passion for providing high-quality products for pets and their owners.
The Negotiations:
During the negotiations, Amber Lee Forrester presented Kane & Couture to the Sharks, seeking a $150,000 investment for a 33% stake in her company. While some Sharks expressed skepticism about the company’s sales projections and market differentiation, others recognized its potential in the pet fashion industry. Lori Greiner and Daymond John saw value in Kane & Couture’s stylish and functional products and decided to make a joint offer of $150,000 for a 40% equity stake, contingent on opening orders totaling $400,000.
Lori and Daymond’s offer provided the financial support and expertise needed to accelerate Kane & Couture’s growth and capitalize on emerging opportunities. However, Mark Cuban and Kevin O’Leary opted not to invest, citing concerns about the company’s ambitious sales projections and market saturation. After some deliberation, Amber accepted Lori and Daymond’s offer, expressing gratitude for the opportunity to work with them.
The deal marked a significant milestone for Kane & Couture, as it provided the company with access to valuable resources and guidance to further expand its market presence and product offerings. By securing the investment, Kane & Couture positioned itself for continued success in the competitive pet fashion industry, with a strong foundation for growth and innovation.
