Wise Pocket Socks are socks with a small pocket on the side to hold small items such as keys, money, or a credit card. The pocket is usually located near the ankle or shin area and is designed to be discreet so that the items inside are not easily noticeable.
Wise Pocket Socks are convenient for people who want to carry small items without needing a bag or wallet. They are often used for activities like running, hiking, or traveling.
Wise Pocket Socks is a brand that offers a unique and innovative solution to the problem of carrying small items while on-the-go. These socks are designed with a discreet yet functional pocket, perfect for storing keys, cash, credit cards, and other small essentials.
The pockets are strategically placed to ensure they do not interfere with the comfort or performance of the socks. Made with high-quality materials, Wise Pocket Socks are durable, comfortable, and stylish.
Whether you’re heading to the gym, going for a run, or simply running errands, these socks offer a convenient and practical way to keep your valuable items close at hand.
What Are Wise Pocket Socks?
Wise Pocket Socks are unique and innovative socks with a built-in pocket. This pocket can store small essential items such as keys, money, cards, or a small tracking device.
Wise Pocket Socks’ primary aim is to provide users convenience, security, and functionality, especially during running, hiking, or traveling activities. Wise Pocket Socks offer a stylish solution to a common problem.
They provide a convenient way to carry essential items, such as mobile phones and epi-pens, for those who lack pockets in their pants or shirt. These socks have been demonstrated to be highly beneficial to individuals who require unencumbered use of their hands.
You do not have to carry an additional bag or purse to keep your valuables safe with Wise pocket socks, as they feature discreet and easily accessible storage spaces. Wise Pocket Socks are comfortable, durable materials for daily use and more adventurous pursuits.
The Wise Pocket Socks store was originally stocked with White and Splatter designs but now includes Tweed and Hawaiian designs, meeting the fashion demands. Wise Pocket Socks can be purchased on various online platforms, including Amazon.
|Company Name||Wise Pocket Socks|
|Product / Business||socks having pockets|
|Investment Asking For||$30,000 for a 15% stake in Wise Pocket Socks|
|Final Deal||$35,000 for a 25% stake in Wise Pocket Socks|
|Shark||Lori Greiner and Daymond John|
|Episode||Season 11, Episode 11|
|Business Status||In Business|
Who Is the Founder Of Wise Pocket Socks?
The founder of Wise Pocket Socks is Sofia Overton. She is a young entrepreneur who created the idea for these innovative socks. Sofia identified the need for a practical and secure way to store small essential items during physical activities, sports, or traveling.
Her idea led to Wise Pocket Socks, a product with a built-in pocket for carrying items such as keys, money, cards, or small tracking devices. These socks have gained popularity due to their unique design, functionality, and convenience, helping users keep their valuables safe without needing additional bags or purses.
Sofia’s invention showcases her creativity and resourcefulness, inspiring other young entrepreneurs to pursue their ideas and dreams.
Wise Pocket Socks Before Shark Tank
Before appearing on Shark Tank, Wise Pocket Socks was a budding business idea introduced by young entrepreneur Sofia Overton. She was inspired to create these innovative socks with a built-in pocket to address the need for a convenient and secure way to store small items during physical activities or travel.
Sofia worked on developing her product and building a brand around it. She invested time in designing the socks, choosing comfortable and durable materials, and refining the functionality of the pocket.
In addition to creating a functional product, Sofia also focused on marketing her socks and reaching out to potential customers through various channels, such as social media and her website.
Her hard work and dedication to her business eventually caught the attention of the producers of the popular television show Shark Tank, which features entrepreneurs pitching their business ideas to a panel of investors, also known as “Sharks.”
Sofia was invited to appear on the show and present her innovative Wise Pocket Socks to the Sharks, seeking investments and partnerships to grow her business further.
This opportunity on Shark Tank significantly boosted the visibility of Wise Pocket Socks and introduced the brand to a broader audience, helping Sofia take her business to the next level.
How Was the Shark Tank Pitch Of Wise Pocket Socks?
On Season 11, Episode 11 of Shark Tank, which aired on January 12, 2020, young entrepreneur Sofia Overton presented her innovative product, Wise Pocket Socks, to the panel of investors known as “Sharks.” She was seeking an investment of $30,000 in exchange for a 15% stake in Wise Pocket Socks.
During her pitch, Sofia introduced herself and shared the story behind her idea of creating socks with built-in pockets to securely store small essential items like keys, money, or cards.
She explained the problem her product aimed to solve, particularly during physical activities and travel, where people often struggle to keep their valuables safe and easily accessible.
Sofia showcased the various designs and materials used in the Wise Pocket Socks, emphasizing their comfort and durability. She also discussed her product’s target market and potential sports, hiking, or daily use applications.
In her pitch, Sofia shared her business’s financial details, including sales figures, manufacturing costs, and retail prices, to give the Sharks a clear picture of the company’s current state and growth potential.
As a result of her presentation, Sofia generated interest from the Sharks, who recognized the potential in her product and business. During her presentation, Sofia impressed the Sharks with her product, business acumen, and determination.
The figures presented by Sofi may not be substantial, but they are impressive for a small enterprise managed by a 13-year-old. Sofi has invested $10,000 of her funds and generated $16,000 in revenue thus far.
Kevin O’Leary declines the opportunity immediately, citing a lack of interest in the sock industry. Mark Cuban commends Sofi for her financial acumen and entrepreneurial spirit but admits that he is not knowledgeable in the field of socks and therefore passes on the offer.
In contrast, Lori Greiner and Daymond John quickly make a joint proposal of $30,000 for a 33.3% stake in the company. They aim to assist Sofi in securing licenses and enhancing production capabilities, as her current capacity is limited to 100 pairs per month.
Sofi offers a counterproposal of $35,000 for a 25% ownership stake. Lori and Daymond accept the revised offer, and Sofi successfully secures a favorable deal for her sock business.
Daymond John and Lori Greiner, two of the Sharks, saw potential in Sofia’s idea and believed in her vision for the company. They decided to collaborate and invest in Wise Pocket Socks, offering a joint deal of $35,000 for a 25% stake in the company.
This investment and partnership with Daymond John and Lori Greiner gave Sofia the funds to expand her business and access their expertise, resources, and network in the retail and fashion industries.
The backing of these prominent investors significantly boosted the credibility and visibility of Wise Pocket Socks, helping Sofia grow her business further and reach a wider audience.
Sofia’s success on Shark Tank highlights the importance of a well-prepared and persuasive pitch and securing strategic partnerships to support a growing business.
What Happened To Wise Pocket Socks After Shark Tank?
After the successful Shark Tank appearance, where Sofia Overton secured a joint investment from Daymond John and Lori Greiner, Wise Pocket Socks experienced increased customer visibility and interest.
The partnership between Lori and Daymond resulted in the successful introduction of Wise Pocket Socks to the market after the show’s airing. Wise Pocket Socks are available on various online marketplaces, including Amazon.
The company benefited from the exposure on the popular show, which often leads to a significant boost in sales and brand recognition.
With the investment and guidance from Daymond and Lori, Sofia was able to expand her product line, improve her marketing efforts, and scale her business. The partnership with these experienced investors also opened new doors and opportunities, such as potential retail partnerships and collaborations.
Wise Pocket Socks likely experienced an increase in online sales and social media followers, which are common outcomes for businesses after appearing on Shark Tank.
Sofia may have used these newfound resources to develop further and diversify her product offerings, targeting new markets and customer segments. Moreover, Sofia has expanded the product line by introducing Tweed and Hawaiian versions of the socks.
Additionally, she is working towards introducing Wise Pocket Leggings shortly. These fashionable products are expected to remain popular in the coming years.
WisePocket’s website is inactive and redirecting, based on a recent investigation performed by our team in 2023. The company may have gone out of business. We will continue to monitor for any updates and keep you informed.
Wise Pocket Socks Shark Tank Update
Following the airing of the show, Wise Pocket Products experienced a significant increase in sales. The company performed well for a period, and production struggled to keep pace with the surge in demand.
However, Sofi successfully fulfilled all orders. The company’s website offers only three sock patterns: the splatter design featured on the Shark Tank episode, a Hawaiian pattern, and a Tweed pattern.
Sofi appears to expand the product line to include leggings shortly. Our investigation into Wise Pocket Products’ progress has revealed that a licensing deal for this expansion has not yet been finalized.
While the revenue figures for the fledgling company have not been disclosed, we remain optimistic about the success of Wise Pocket Products with their new partners.
Is Wise Pocket Socks Still In Business?
Wise Pocket Socks made a successful appearance on Shark Tank in 2016, captivating viewers with their clever name, unique design, and cost-saving concept. Since then, the company has steadily grown and expanded its product line while striving to enhance its offerings.
In 2017, the company launched a Kickstarter campaign for its latest product, Pocket Socks for Women. Additionally, Wise Pocket Socks introduced a new line of men’s socks on QVC UK during the same year.
However, the company encountered difficulties with its business model, prompting them to make necessary changes and improvements.
Wise Pocket Socks strives to reduce costs without compromising quality despite their progress. The company has had difficulty finding a manufacturer that can supply high-quality socks at a reasonable price.
What Is the Net Worth of Wise Pocket Socks?
The valuation of Wise Pocket Socks was $200,000 when it appeared on Shark Tank. The net worth of Wise Pocket Socks is around $500,000 as of 2023.