Shark Tank episode 709 features Harvard Business School graduates Nate Barbera and Desiree Stolar pitching UnShrinkIt, a solution for accidentally shrunken sweaters.
Un ShrinkIt’s journey began with a shrunken sweater. They sought a scientific solution after failing to unshrink the sweater despite stretching and praying. They invented UnShrinkIt.
In a nutshell, the heat generated by a dryer causes wool fibers to curl up (and stay that way).
UnShrink consists of a compound that allows coiled fibers to straighten out by gradually relaxing.
The wool reverts to its original shape and size after rinsing with the UnShrinkIt solution.
They claim that once they tell someone their story, they are compelled to buy the bottle – after all, who hasn’t accidentally shrunk a garment (or two)?
Amazon and a few stores currently sell the product. The price of a single bottle maybe $12, but that is nothing compared with losing a treasured (and expensive) sweater.
Nate and Desiree probably want the Shark’s help in securing substantial distribution.
Will a Shark reshape this firm and propel it into the stratosphere?
What Is UnShrinkIt?
The UnshrinkIt product is a solution that you can use to unshrink woolen sweaters that have accidentally shrunk after being washed or dried.
Soak the sweater in the water and UnshrinkIt mixture for 30 minutes, rinse, then reshape and dry the sweater.
|Entrepreneur||Nate Barbera And Desiree Davis Stolar|
|Product||Solution That Restores Shrunken Sweaters|
|Investment Asking For||$150,000 For 10% equity in UnShrinkIt|
|Final Deal||$150,000 For 15% equity in UnShrinkIt|
|Episode||Season 7 Episode 8|
|Business Status||In Business|
Who Is The Founder Of UnShrinkIt?
Desiree Davis Stolar and Nate Barbera founded UnshrinkIt while pursuing their Masters at Harvard Business School.
Stolar and Barbera presented their product UnShrinkIt to secure investment and expand their business on Shark Tank in 2015.
UnShrinkIt Before Shark Tank
Dez Stoler and Nate Barbera joined the Shark Tank for the first time. They have traveled from Boston, Massachusetts, to represent Unshrinkit.
They are looking to raise $150,000 in exchange for 10% stock in UnShrinkIt. Today, the two of them have come together to discuss a very important issue: shrinking.
Robert protests, but Nate clarifies; he’s referring to clothes shrinking! Dez’s sister managed to scrape together enough money to buy her a gorgeous cashmere sweater, but she then drank it.
They discovered a solution that allows them to relax certain fibers and restore them to their previous size with chemistry.
How Was The Shark Tank Pitch Of UnShrinkIt?
Nate and Desiree enter wanting $150,000 in exchange for a 10% stake in UnShrinkIt. According to them, they would like to talk about SHRINKAGE – specifically, shrinkage in knitwear.
UnShrinkIt’s effectiveness is demonstrated by adding a gallon of water to the product, soaking for 30 minutes, rinsing, and reshaping. UnShrinkIt works with any type of wool.
She is wearing the same sweater that inspired her business idea, where all of the wool fibers have been restored to their original length.
After shrinking her favorite sweater, Desiree discovered that there wasn’t a product to assist her.
They have sold 5000 units to date. Nate worked at Johnson and Johnson before attending business school and created the recipe while a Harvard student.
He discusses the chemistry of Unshrinkit. A generic chemical compound has been patented for a specific application based on a commonly occurring chemical compound.
Daymond estimates that approximately 12% of wool products sold will shrink.
Nate and Desiree compare the product to aspirin, believing that everyone should have some on hand just in case. The business is on track to generate $135K in revenue this year. It retails for between $12 and $15 and costs less than a dollar to create.
UnShrinkit charges so much because both customers and investors trust the company.
It was priced incorrectly at $9.99.
Lori believes the market is saturated, and she has withdrawn. Robert believes it is an excellent idea and may generate $1.5 million in sales within two years.
Mr. Wonderful offers $150K in exchange for 33%, and Nate counters $150K in exchange for 15%. “Why would I do that when there are no other offers?” Mr. Wonderful inquires.
Daymond asserts that FUBU has never seen shrinkage following a hiatus. He wishes to license it and has offered $150K for a 25% royalty, subject to licensing.
“Look, you people are intelligent,” Mark observes. He offers $150K in exchange for 15%, and they agree!
Final Deal: Mark agrees to a deal worth $150K for a 15% stake in UnshrinkIt.
What Happened To UnShrinkIt After Shark Tank?
Both millennial entrepreneurs now hold MBAs from Harvard after graduating from Shark Tank.
Barbera joined McKinsey & Company in Miami/Ft. Lauderdale in February 2016 after leaving UnshrinkIt as CEO.
UnShrinkIt Shark Tank Update
The agreement with Mark was never finalized. Barbera resigned from UnShrinkIt in February 2016 to join McKinsey & Company.
As of December 2021, UnShrinkIt is still in business with Stolar as CEO. The company generates $2 million in annual revenue per year.
How Does UnShrinkIt Work?
Pour the entire bottle of Unshrinkit liquid into your sink and halfway fill it with hot water.
Soak the clothes for around 30 minutes in the mixture before rinsing them under cold running water and gently stretching them back into shape by hand.
Layout the items to dry on a towel after squeezing out any remaining liquid.
When a garment is young, it is made up of thousands of fibers that are long and straight.
The heat and agitation of electric washers and dryers cause the fibers to the coil and shrink, causing a chemical reaction.
Once curled, the fibers get twisted and trapped together. When Unshrinkit is rinsed with cold water, the fibers are restored to their original straight form. It relaxes protein connections and allows fibers to straighten out.
One disadvantage of Unshrinkit liquid is that it emits a strong smell while in use; however, the odor disappears once the clothing is rinsed.
It is not riskier than other soaps or conditioners to use Unshrinkit on sensitive skin.
It might be a good idea to continue wearing gloves while laundry or dishwashing.
If you are unshrinking clothing that you are aware of bleeds color, it is recommended that you dry the garment with a darker colored towel after treating it with Unshrinkit.
Unshrinkit will not harm your delicate fabric or diminish the brilliance of your clothing’s color, ensuring that your beloved sweater will not appear dull and fuzzy following treatment.
Within one year of purchasing it, you should use the product to maximize its benefits. It’s important to use the entire bottle, so don’t bother preserving any unused portion. You can shrink up to four articles of clothing with a single bottle.