Table of Contents
- What Is Long Wharf Supply Company?
- Who Is The Founder Of Long Wharf Supply Company?
- How Was The Shark Tank Pitch Of Long Wharf Supply Company?
- Did Long Wharf Supply Company Get a Deal on Shark Tank?
- What Happened To Long Wharf Supply Company After Shark Tank?
- Long Wharf Supply Company Shark Tank Update
- What Is the Net Worth Of Long Wharf Supply Company?
Long Wharf Supply Company, featured on episode 2 of season 13 of Shark Tank, is a sustainable fashion brand founded by siblings Lauren and Michael Lamanga.
Long Wharf Supply Company’s standout product is a line of sweaters made from innovative materials like rPET yarn, which is recycled polyester yarn crafted from crushed oyster shells and recycled poly fibers. These sweaters are not only environmentally friendly but also high-quality, durable, and cozy.
The designs incorporate a blend of materials, including nylon, plant-based viscose, and lambswool, for insulation, warmth, and comfort. Despite being on the pricier side, the longevity and sustainability of these sweaters make them a worthwhile investment.
Additionally, Long Wharf Supply Company goes beyond clothing, offering a range of accessories and goods, with a portion of their sales dedicated to reseeding coastal oyster reefs, showcasing their commitment to environmental conservation.
Choosing Long Wharf Supply Company means supporting a brand that combines style, sustainability, and social responsibility in a single package.
| Company Name | Long Wharf Supply Co |
| Founder | Lauren Lamanga and Mike Lamanga |
| Product | Wool sweaters made of natural lamb’s wool, oyster shells, recycled water bottles, or cotton |
| Investment Seeking | $375,000 for 15% equity |
| Final Deal Accepted | No Deals |
| Shark Name | No Shark |
| Episode | Season 13, Episode 02 |
| Business Status | In Business |
| Website | Long Wharf Supply Co Website |
| Net Worth | $3 Million |
What Is Long Wharf Supply Company?
Long Wharf Supply Company is a company that offers a collection of original fishermen’s sweaters made from a soft blend of recycled oyster shells, recycled water bottles, and cotton or natural lambswool.
Long Wharf Supply Co. is a clothing brand that focuses on sustainability. The brand emphasizes creating products with a modern aesthetic and everyday functionality.
Their motive is to recycle and create while supporting the reseeding of coastal oyster reefs to help reduce waste and clean up inshore waterways.
Each SeaWell™ Sweater is designed to reseed up to 30 oysters and naturally filter up to 1,500 gallons of seawater every day. They also provide a variety of clothing items for men and women, inspired by vintage fishermen’s sweaters, as well as other products related to coastal living.
Additionally, the company focuses on sustainability and environmental impact, showcasing initiatives such as filtering millions of gallons of seawater daily and promoting Cape Cod shell recycling.
The brand offers a range of products, including clothing and accessories, that can be purchased on its website. Their latest collection, The SeaWell™️ Sweater, is made using recycled oyster shells and water bottles, contributing to environmental conservation efforts.
Who Is The Founder Of Long Wharf Supply Company?
The Long Wharf Supply Company was founded by Mike Lamagna, with his sister Lauren Lamagna as a co-founder. Mike’s background includes growing up along the coast of New Hampshire, where his love for the sea and seaside towns was nurtured.
After graduating with a degree in finance and working in private equity in New York City, he became intrigued by startup funding and the fashion industry.
The idea for Long Wharf Supply Company was conceived when Mike stumbled upon a vintage fisherman’s sweater in his father’s closet. This discovery ignited his vision to create a brand that not only reflected his personal history and passion for the sea but also utilized unique, eco-friendly materials.
The company’s name pays homage to Long Wharf in Boston, where Mike’s great-grandfather had worked in textiles during the early 20th century.
Prior to their appearance on Shark Tank in Season 13, Episode 2, Long Wharf Supply Company was dedicated to producing high-quality goods from recycled materials, notably highlighted by their SeaWell Collection.
The company had already established partnerships with organizations committed to oyster population well-being, investing in initiatives to reseed coastal oyster reefs.
Through these efforts, Long Wharf Supply Company contributed significantly to filtering millions of gallons of seawater daily.
Additionally, founder Mike Lamagna remained engaged in community work by serving on the Advisory Board of Harlem Lacrosse, an academic intervention program for underprivileged youth leveraging lacrosse to develop effective community leaders.
How Was The Shark Tank Pitch Of Long Wharf Supply Company?
- Founders: Mike and Lauren Lamagna
- Product: Sweaters and accessories made from recycled oyster shells
- Ask: $375,000 for 15% equity
- Outcome: No deal
Mike and Lauren Lamagna pitch their eco-friendly sweater and accessory company, Long Wharf Supply Co., during Shark Tank.
These products use recycled oyster shells and other ocean waste. They sought a $375,000 investment in exchange for a 15% equity stake in their business.
However, the Sharks – Mark Cuban, Lori Greiner, Daymond John, Kevin O’Leary, and Peter Jones – did not make any offers.
Lauren Lamagna was not an investor in the company, which raised questions about its high valuation, customer acquisition costs, and lack of equity ownership.
Kevin O’Leary doubted the company’s valuation based on its current sales and business model, while Daymond John found the asking price too high for the company’s stage.
Peter Jones saw potential in the product and offered $375,000 for 45% of the business.
Despite attempts at negotiation, Mike and Lauren could not reach an agreement with Peter Jones and ultimately left the tank without a deal.
Although they did not secure an investment from the Sharks, Long Wharf Supply Co. has since grown to a net worth of around $3 million.
They remain committed to their mission of ocean conservation, with their sustainable products available for purchase online and in upscale stores nationwide.
| Shark | Investment Offered | Counter Offer by Founders | Final Deal Accepted |
| Mark Cuban | No offer | – | – |
| Lori Greiner | No offer | – | – |
| Daymond John | No offer | – | – |
| Kevin O’Leary | No offer | – | – |
| Peter Jones CBE | $375,000 for 45% | 20% | No deal |
Despite not striking a deal on Shark Tank, Long Wharf Supply Co. has grown to a $3 million net worth and is continuing its mission to clean the oceans through its sustainable products.
With a dedicated following and products available online and in upscale stores nationwide, the company is making waves in the eco-friendly fashion industry.
Did Long Wharf Supply Company Get a Deal on Shark Tank?
Long Wharf Supply Co, a sustainable apparel brand, appeared on Shark Tank seeking $375,000 for 15% equity but did not secure a deal.
Despite the innovative use of materials like oyster shells and recycled bottles in their products, the Sharks raised concerns about valuation. The company continues to operate post-show, with founder Mike Lamanga running the business part-time.
While the Shark Tank exposure boosted sales, Long Wharf Supply Co faced challenges due to high product pricing. Long Wharf Supply Company remains active but has not experienced significant growth post-show.
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What Happened To Long Wharf Supply Company After Shark Tank?
After Appearing on Shark Tank, Long Wharf Supply Co. experienced significant growth and success in their business.
The company’s innovative approach to sustainable fashion, using recycled ocean plastics in their apparel, resonated well with consumers. This led to increased sales and brand recognition after their Shark Tank appearance.
They secured a deal on the show, propelling them into a new stage of growth and enabling them to further their mission of ecological responsibility and innovation in the apparel industry.
Long Wharf Supply Co. continues to expand its environmentally friendly product lines, staying committed to sustainability and reducing plastic waste while promoting ocean cleanliness.
Long Wharf Supply Co. remains in business, determined to navigate the ever-evolving landscape of sustainable fashion.
The company has established itself as a pioneer in utilizing recycled materials to create high-quality apparel resonating with environmentally conscious consumers.
Long Wharf has demonstrated its financial resilience and market appeal. The brand’s commitment to sustainability, coupled with its unique product offerings, has enabled it to carve out a niche in the competitive fashion industry.
Their success story showcases how a focus on eco-conscious values can drive business growth and consumer engagement in the fashion industry.
Long Wharf Supply Co.’s journey post-Shark Tank exemplifies the perseverance and innovation required to succeed as a socially responsible business.
By staying true to their values and leveraging opportunities for growth, the company continues to make a positive impact on both the environment and the fashion industry.
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Long Wharf Supply Company Shark Tank Update
Long Wharf Supply Co, a unique apparel brand specializing in sweaters made from oyster shells, recycled water bottles, and natural materials, entered the Shark Tank seeking a $375,000 investment for 15% equity.
Despite a compelling pitch, the founders, Lauren and Mike Lamanga, did not secure a deal.
After the Shark Tank appearance, Long Wharf Supply Co. faced challenges in scaling its business. The company did not receive the desired investment due to valuation concerns, impacting its growth trajectory.
The high price point of its products, ranging from $128 to $158, made it less accessible to a wider audience, affecting sales performance.
Long Wharf Supply Co remains in business, with founder Mike Lamanga overseeing operations on a part-time basis. Despite efforts to sustain the venture, the business has experienced a significant slowdown in growth since its inception in 2016.
Long Wharf Supply Co’s net worth is estimated to be $3 million. The company continues to strive for growth, with ongoing efforts to enhance its market presence and address operational challenges.
Long Wharf Supply Co. perseveres in the competitive apparel industry, navigating obstacles post-Shark Tank to maintain its presence.
With a focus on sustainability and unique product offerings, the brand seeks to overcome hurdles and carve a niche for itself in the market.
Also read, Proper Good Shark Tank Update | Proper Good Net Worth
What Is the Net Worth Of Long Wharf Supply Company?
According to our research, the net worth of Long Wharf Supply Company is estimated to be $3 million. The valuation of Long Wharf Supply Company was $2.5 million when it appeared on season 13 of Shark Tank.
