What Is Skinny Shirt?
Skinny Shirt is a signature product with a button-down shirt (or blouse), which features a stretchy material collar and buttons.
SkinnyShirt looks and feels like a button-down shirt beneath a sweater or jacket but is designed to fit like a camisole, without the material folds and bulges that normal button-down shirts can cause.
|Company Name||Skinny Shirt|
|Product||Shirts with a collar but no sleeves|
|Investment Seeking||$100,000 For 20% equity in SkinnyShirt|
|Final Deal||No Deal|
|Episode||Episode 13 Season 6|
|Business Status||Out Of Business|
Who Is The Founder Of Skinny Shirt?
Julie Kalimian is the founder of Skinny Shirt, who began her career in advertising and as a Vanity Fair sales representative.
Before launching SkinnyShirt, she held a vice-president position at News Week, where she worked in marketing. Her later career included work as an advertising manager at Conde Nast. SkinnyShirt still has Julie as its CEO.
When Julie paused her career to raise her four children, she was inspired to invent the SkinnyShirt. As an employee, she never had the chance to dress up for work.
She was short on time at home and wanted a button-down and sweater pair with a clean line but in an easy-to-wear structure.
Kalimian was surprised as there wasn’t already such a garment available, decided to develop one for SkinnyShirt, as a result, developed the distinctive garment they offered during their brief existence.
Skinny Shirt Before Shark Tank
Julianne Kalimian, SkinnyShirt’s founder, has an impressive publishing background. She was the Vice President of Marketing at Newsweek magazine, with extensive experience in sales, marketing, and business development.
She decided to stay at home as a stay-at-home mom because she had four children under five.
Her hectic new life proved insufficient to keep her from considering business prospects after approximately a year.
The former high-flyer soon realized that there was one business opportunity that influenced her daily.
While she enjoyed dressing in well-coordinated outfits for her job at a large corporation, now that she has less time to put her outfits together, her favorite appearance, a button-down shirt, and sweater, often looks sloppy.
She sought out a collared shirt with a stretchy feel that would be significantly more figure-hugging. To her astonishment, she discovered that no such product existed on the market at the time.
Julie saw an opportunity and created the SkinnyShirt, a hybrid between a button-down shirt and a camisole with the capacity to decrease wrinkles and creases for anyone who wore it.
The Skinny Shirt firm, which she founded in 2011, initially flourished. The SkinnyShirt business failed because manufacturers created inferior products and cash-flow challenges encountered by many new businesses, but Julie managed to save it.
It took her a lengthy application procedure to be accepted for Shark Tank, which she was notified of in May 2013.
Julie resubmitted her application and was successful this time; she presented her firm to the sharks in late 2014.
How Was The Shark Tank Pitch Of Skinny Shirt?
Julie appeared on the Shark Tank show requesting an investment of $100,000 in exchange for a 20% stake in her firm SkinnyShirt.
The designer brought along an adorable model, Kirsten, who demonstrated how ruffled a shirt worn over a sweater could look.
The model was lovely, but her shirt was wrinkled and messy, and Julie revealed to the sharks that her SkinnyShirt had addressed the crumpled shirt-sweater problem.
The designer said that Julie’s product features an exceptional design and material combination, and she invited Kirsten to switch to a Skinny Shirt to try it on.
Shark Tank is a family program, and Julie used a screen to conceal Kirsten’s modesty while she changed. Still, the screen was illuminated, allowing her silhouette to be seen through it.
It was an uncommon and fascinating occurrence in the tank, but the male sharks seemed to enjoy themselves.
Lori Greiner observed, ‘You’ve captured their attention .’ She was correct; Robert Herjavec grinned like a Cheshire cat.
Barbara Corcoran complimented Julie on a job well done. ‘Can we do it again?’ Robert said, and the other sharks chuckled.
Kirsten reappeared, looking considerably more neat and fashionable now that she was wearing a SkinnyShirt.
Julie presented a previous image of Kirsten to demonstrate how successful the shirt was at correcting the shirt-sweater appearance, and the change was dramatic.
Robert enquired as to the volume of sales. Julie said that sales had exceeded half a million dollars in the previous three years, that all the sharks appeared magnificent, and that Barbara Corcoran gasped, ‘Wow!’ Julie continued, adding that this year’s sales had totaled $200,000 thus far.
Mark Cuban inquired about the prior year’s sales figures; Julie was somewhat uneasy and acknowledged that the previous year’s sales totaled something in the neighborhood of $50,000.
Julie said that she had had difficulties with her manufacturer at the time; he had supplied her with inferior goods, forcing her to ‘eat’ the losses associated with those defective Shirts; she had also encountered difficulties with her inventory.
Kevin O’Leary inquired whether Julie had located a new manufacturer, which she verified.
Robert enquired about the SkinnyShirt’s retail price, which Julie informed him was $69 for the sleeveless version and $76 for the long-sleeved version.
The production cost was now $12.75 per unit, but with significant investment and the opportunity to place much bigger orders, she could lower the cost to $9.50 per item.
Although the sales margin was outstanding, the sharks continued to contemplate Julie’s production issues; each time they inquired about the matter, Julie appeared to become somewhat more agitated, and as the pressure on her increased, she began to mess up her responses.
Mark Cuban told Julie that her manufacturing issues had impacted her business’s sales for 2 1/2 years.
However, according to her statements, her business had only worked with the manufacturer once, and that run had sold out within a year. He was perplexed by the discrepancy.
Julie attempted to describe the timeline of the manufacturing difficulties, but under duress, she sounded confused and did not convey her point properly; the sharks were beginning to doubt her tale, and Kevin O’Leary was prepared to strike.
He maintained that Julie’s difficulties were logistical, but Mark Cuban disagreed. Julie attempted another incoherent explanation, which only served to aggravate Kevin further.
Lori pleaded with her fellow sharks, ‘Let us not get bogged down by numbers,’ but Kevin, quite unsurprisingly, said, ‘Why not?’
Lori emphasized that the issue was with substandard items, not Julie. Kevin was unconvinced; he questioned Julie about what prevented a firm that already manufactured shirts from replicating the idea and destroying her ‘Like the Cockroach that she was.’
Julie appeared slightly taken aback but said she was not a bug. Kevin informed her that she had ‘no market share in perhaps a decent idea,’ but Julie cut him off.
She claimed to have a pending patent, has sold over 10,000 shirts, has an excellent trademark and branding, and requires financing to cover production and distribution costs.
Kevin was enraged by this. ‘Do I have to pay for your education?’ ‘You have no idea what you’re doing,’ he said, without waiting for a response.
Julie responded that she was aware of what she was doing, but Kevin was not amused; he chastised her for previous cash-flow difficulties until Lori defended her by stating that Julie was a ‘beginning.’
‘I don’t give a damn,’ Kevin responded with a yell, and he and Lori got into a furious dispute, shouting over one other. Kevin ultimately appeared to tire of the situation and declared, ‘I’m out.’
Mark believed Julie should be credited for initiating the business, but he couldn’t see a definite business strategy. Julie attempted to explain how she would use the sharks’ money, but Mark cut her off.
He explained that while her intended use of monies constituted a cash-management concern, he was more concerned about her capacity to handle cash effectively. Her figures did not match up, and as a result, he was ejected.
Robert believed The SkinnyShirt was an excellent product, but he had reservations about Julie.
He suggested that Julie lacked a long-term strategy for developing her firm, and due to his reservations, he withdrew from the discussions.
Lori saw the potential for success of the SkinnyShirt idea. On the other hand, Lori was not a fan of the shirt and sweater combination; she wasn’t sure if it was fashionable anymore, and she didn’t understand the fashion statement. Lori was also absent for these reasons.
Barbara was now the sole shark remaining; Julie gave her a little frantic look, but she appeared to understand that she was unlikely to secure a deal.
Barbara took her time, carefully analyzing the SkinnyShirt situation until she finally spoke. She informed Julie that her behavior in the tank was admirable; she had stood her ground well despite the grilling she had endured.
Barbara gestured to Kevin on her left and informed Julie that she had made a great stand against ‘This bully here.’ She made a similar gesture to Mark Cuban on her right, referring to him as a bully.
While Barbara felt Julie was feeling sorry for herself due to her manufacturing partner’s betrayal, she stated that self-pity was Julie’s Achilles heel, and as a result, she was out.
Final Deal: No deal between Skinny Shirt and Sharks.
What Happened To Skinny Shirt After Shark Tank?
Julie revealed immediately following her appearance that the Sharks would later regret not signing her to a contract.
She was completely dedicated to the firm’s development and advised people to ‘Watch this space.’
It appears that SkinnyShirt was thriving after the shark tank. The expanding network of merchants Julie has developed is largely responsible for the growth she reported in a January 2016 interview.
The Grommet is an online platform that allows small businesses to launch products and launch them online. SkinnyShirts are distributed to over 300 shops, QVC, and QVC.
Julie sells over 50% of her SkinnyShirts directly via the SkinnyShirt website, which now has numerous products unavailable during her Shark Tank appearance.
There is now also a sweater design for children. The firm will offer a broader selection of classic designs and a new knitwear line in 2016. She created a seamless line of cosmetics in 2016 for a seamless look.
Julie has also shared some useful insider information about the Shark Tank application process with other businesses who aspire to make their shark tank pitch.
In a blog post on the SkinnyShirt website, she disclosed that the process might be arduous, lasting several months and including several processes, with no assurance of being selected to make a presentation to business moguls.
She expressed gratitude to the show’s producers for their assistance in honing her presentation and prepared her for the questions the Sharks were expected to ask.
She has stated that the personal attribute that helped her get into the program was her dedication and perseverance; she urges other potential hopefuls to ‘Never Give Up.’
Skinny Shirt Shark Tank Update
As per their Facebook post, skinny Shirts has ceased its operation since 2018. Also, the brand’s social media has gone dark, and no new post has been updated.