Modern Picnic, featured on episode 13 of Shark Tank Season 15, offers a stylish and functional lunch box designed to resemble a luxurious handbag, catering primarily to women.
Founded by Ali Kaminetsky, the brand addresses the need for fashion-forward lunch bags in the market. Their product line includes various sizes, materials, and colors to suit different customer preferences.
From tote bags to backpacks and handbags, each product comes with additional pouches for storage convenience. The flagship product, the Luncher, resembles a standard purse and can hold food containers, drinks, and utensils.
Modern Picnic stands out for its exclusive, all-female team and commitment to sustainability by using vegan materials.
Additionally, the brand partners with charities for social causes, making it a stylish and socially responsible choice for those looking to make a difference while enjoying a fashionable lunch accessory.
|Lunchboxes made of vegan leather that are fashionable for women
|$400,000 for 6.5% equity
|Final Deal Accepted
|Season 15, Episode 13
What Is Modern Picnic?
Modern Picnic is a lunch bag company that specializes in designing stylish and eco-friendly lunchboxes specifically targeted towards working women.
Modern Picnic products feature insulated interiors, vegan leather exteriors, and practical features such as compartments for utensils, magnetic closures, and removable straps.
Additionally, Modern Picnic offers a variety of lunchbox styles, including The Snacker, The Tote, The Backpack, The Large Luncher, The Luncher, The Food Container, The Kids Mini, and The Pouch to cater to different preferences and needs.
Modern Picnic is a brand that offers stylish and practical lunch bags and accessories that are designed to be both fashionable and functional for carrying meals to work, school, or any other outings.
Customers have praised the brand for its thoughtful design, convenience, and aesthetic appeal.
Who Is The Founder Of Modern Picnic?
Ali Kaminetsky is the founder of Modern Picnic, a women-founded and led company specializing in fashionable, functional, and sustainable lunch bags for professional women.
She launched the brand in 2018 with a mission to offer stylish alternatives to traditional lunchboxes. Kaminetsky noticed that working women lacked stylish lunch-carrying options after moving to New York City post-graduation.
Inspired by this gap in the market, she set out to design chic and practical lunch bags that catered to the needs of fashion-conscious women looking to save money and eat healthily.
Before its appearance on Shark Tank, Modern Picnic offered a range of stylish and functional lunch bags tailored for different purposes:
- The Luncher
- The Large Luncher
- The Tote
- The Backpack
- The Snacker
In April 2021, Modern Picnic secured a $900,000 round of pre-seed funding led by Michael Cline, the founder of Fandango. This investment highlighted the brand’s appeal to health-conscious professionals seeking stylish yet practical lunch-carrying solutions.
Modern Picnic positioned itself as a brand empowering women to feel confident and put-together at work while carrying their meals.
By focusing on women’s aesthetic and functional needs, Modern Picnic filled a clear gap in the market for stylish lunch bags designed specifically for professional women.
How Was The Shark Tank Pitch Of Modern Picnic?
- Founder: Ali Kaminetsky
- Product: Women’s lunch boxes with stylish designs
- Investment Seeking: $400,000 for 6.5% equity
- Final Deal: No deal
During her Shark Tank pitch, Ali Kaminetsky presented Modern Picnic, a brand offering fashionable lunchboxes made of vegan leather for women who want to carry their lunches in style.
The product line includes insulated bags designed to look like chic purses, with different sizes and color options available.
Despite achieving significant sales success with nearly $6 million in sales year-to-date from over 40,000 units sold, Ali projected a small loss of under $100,000 due to a substantial marketing spend of about 50%.
Although she had secured investments totaling $900,000 through cold calls and a seed round, the Sharks did not make any offers.
Mark Cuban, Robert Herjavec, Lori Greiner, Kevin O’Leary, and Emma Grede all declined to invest in the company.
However, the post-show update indicated that Modern Picnic saw a boost in sales following the episode despite not striking a deal with the Sharks.
The products continue to be available for purchase on Amazon and the company’s website, providing Ali with an opportunity to leverage the show’s exposure for increased sales and profitability in the future.
- Modern Picnic offers stylish lunch boxes resembling chic purses for women.
- Products include insulated bags in various sizes and colors, along with food containers.
- Sales mix: 70% e-commerce, 20% wholesale.
- Sales YTD: Just under $6 million from over 40,000 units sold.
- Projected sales during the filming year: Over $2 million.
- Anticipated loss: Just under $100,000 due to heavy marketing spend.
- Previous investments secured: $900,000 through cold calls and a seed round.
- Mark Cuban – No offer
- Robert Herjavec – No offer
- Lori Greiner – No offer
- Kevin O’Leary – No offer
- Emma Grede – No offer
Final Deal Table:
|Counter Offer by Founder
|Final Deal Accepted
Despite not receiving any offers from the Sharks, the Modern Picnic update post-Shark Tank indicated a boost in sales. The company continues to offer its products on Amazon and the Modern Picnic website.
Ali Kaminetsky’s ability to leverage the show’s exposure for increased sales will be crucial for the company’s future success.
Did Modern Picnic Get a Deal on Shark Tank?
Modern Picnic, the stylish lunch bag brand for women, appeared on Shark Tank seeking $400,000 for 6.5% equity at a $6.1 million valuation. Despite a strong presentation by founder Ali Kaminetsky, the Sharks did not invest.
The Sharks, including Kevin O’Leary, cited concerns about the high marketing expenses of the business. Ultimately, Modern Picnic did not secure a deal on Shark Tank.
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What Happened To Modern Picnic After Shark Tank?
After appearing on Shark Tank and not securing a deal, Modern Picnic continued its operations. Founder Ali Kaminetsky faced rejection due to high marketing expenses. Despite this setback, the business persevered and is still in business.
Expecting a sales boost, Modern Picnic may face increased competition but is anticipated to go viral again on social media due to its quality products.
The business continues to operate with four full-time employees, offering products on its website, Amazon store, and Faire.com wholesale page.
With a growing lunch box market projected to reach $200 billion by 2030, Modern Picnic is poised for potential expansion and increased sales.
Modern Picnic’s net worth is estimated at $5 million, with a focus on stylish lunch boxes for women. While the Sharks did not invest, Modern Picnic remains a prominent player in the lunch box market, catering to the modern working woman.
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Modern Picnic Shark Tank Update
After appearing on Shark Tank Season 15, Episode 13, Modern Picnic experienced a significant boost in sales and interest. The brand continued to expand its product line, maintaining a commitment to merging fashion with function.
This growth indicated a positive market reception and potential for further expansion. By showcasing their stylish and functional lunch bags on Shark Tank, Modern Picnic successfully capitalized on the platform, leading to increased visibility and sales.
Modern Picnic introduced new products like The Large Luncher, tote styles, backpacks, and pouch designs to cater to diverse customer preferences.
Modern Picnic’s innovative approach to lunchtime essentials garnered attention from reputable publications like Forbes, Vogue, and Harper’s Bazaar, solidifying its status as a trailblazer in the industry.
Additionally, they continued their commitment to sustainability by offering vegan leather products that promote eco-friendly practices.
Modern Picnic also established partnerships with charities and nonprofits, reflecting their dedication to social responsibility.
The brand’s focus on sustainability and chic design resonated with consumers, solidifying its position as a go-to choice for eco-conscious fashionistas seeking elegant lunch solutions.
Their appearance on Shark Tank propelled them into the spotlight and contributed to their continued success in providing quality, stylish, and sustainable lunch accessories for modern professionals.
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What Is the Net Worth Of Modern Picnic?
According to our research, Modern Picnic’s net worth is estimated to be $5 million. The valuation of Modern Picnic was $6.1 million when it appeared on season 15 of Shark Tank.