Green Garmento Net Worth
On the television show Shark Tank, entrepreneur Jennie Nigrosh pitched her business idea to a panel of investors in hopes of securing funding.
She was seeking a $300,000 investment in exchange for a 20% ownership stake in her company. This valuation put her business at a total worth of $1.5 million.
What is Green Garmento and Who is the Green Garmento Founder?
Green Garmento is a reusable packaging solution designed to replace single-use plastic dry-cleaning bags. It is a multifunctional garment bag that can be used as a hanging hamper, duffel bag, and dry cleaning/pick-up bag.
Green Garmento also offers eco-friendly solutions for washing, storage, travel, and organizing.
Green Garmento was founded in 2008 by Jennie Nigrosh and Rick Siegel. Siegel had previously worked as a personal manager, while Nigrosh worked as a creative copyrighter at Warner Bros, where he was in charge of the new album and soundtrack promotional campaigns.
The company was founded on Nigrosh’s desire to reduce the world’s carbon footprint by providing sustainable packaging solutions to businesses and customers and minimizing the usage of single-use plastic bags.
The breathable garment bags are made from the same non-woven polypropylene material as most supermarket shopping bags and can be produced from recyclable post-industrial and post-consumer resources.
Green Garmento provides a take-back program for customers and businesses who are unable to recycle their Garmento items. The company also offers the option to donate to various charities and environmental causes.
Today, over a thousand dry cleaning establishments and companies in the United States, as well as dry cleaners and hotels in twenty-eight countries, use Green Garmento as an alternative to dry cleaning plastic bags.
It is also utilized in the hospitality industry by companies such as Hyatt, Four Seasons, Fairmont, Intercontinental, Cavallo Point, and others.
The Deluxe Green Garmento, available in eight different colors and four different lengths, is made of recyclable non-woven polypropylene.
In 2009, the International Housewares Association awarded the company the Design Defined Award, and Entrepreneur magazine named it one of the Top 100 Brilliant Companies to Watch in 2010. The Green Garmento has even been included in Academy Award gift bags.
Green Garmento the Shark Tank Pitch
Jennie Nigrosh pitched her company, Green Garmento, on Shark Tank Season 4 Episode 15, hoping to secure a $300,000 investment in exchange for a 20% stake in the company, valuing it at $1.5 million.
Nigrosh explained that US dry cleaners use 1.4 billion plastic bags every year, prompting her to create a reusable dry-cleaning bag that can be used as a hamper, duffle, and dry-cleaning pick-up bag.
The Sharks were impressed with the product, but Kevin O’Leary was skeptical about its profitability, prompting Nigrosh to reveal that the company had revenue of nearly $1 million, with $260,000 in sales and $400,000 in profits.
However, she also disclosed that the company was losing money and had a $9 million debt to repay its non-equity investors, who demanded 9% of sales. This revelation led the Sharks to conclude that Green Garmento was not worth investing in, and Nigrosh left the Tank without a deal.
Despite the setback, Nigrosh continued to sell Green Garmento bags through dry cleaners in the US and 17 other countries, and by 2014, she had sold over a million pieces and had her bags in more than 1,000 dry cleaners across the country.
Currently, Green Garmento brings in $5 million annually and is available for purchase on the company’s website, as well as at Walmart and Bed Bath & Beyond locations in the US.
Green Garmento Net Worth
Jennie Nigrosh appears on Shark Tank in search of $300,000 in exchange for a 20% stake in her company. This translates to a $1.5 million value.
Green Garmento Competitors
Green Garmento competes with Abco Products and Automated Cleaning Technologies.
Green Garmento FAQS
What is Green Garmento?
The Green Garmento is a reusable packaging solution that was created as an alternative to single-use plastic dry cleaning bags.
Who is the founder of Green Garmento?
The company was founded by Jennie Nigrosh with help of her Husband in 2008.
How much was she seeking in the Shark Tank?
She was seeking $300,000 in exchange for a 20% stake in her company.
Did she get a deal from the Shark Tank?
No, she did not get a deal from the Shark Tank.
What materials is Green Garmento made of?
The Green Garmento is made of non-woven polypropylene, a recyclable material that is breathable, durable, and lightweight.
Does Green Garmento come in different colours?
Yes, The come in different colours and sizes.
Where can they buy Green Garmento?
Green Garmento can also be found at Walmart, Amazon and Bed Bath & Beyond stores across the US and in 17 countries around the world.
Plastic bags are see-through, if they change to The Green Garmento, how will they see their customers’ clothes?
The Green Garmento features a side zipper so that they and their clients may examine their outfits before leaving their business.
Does The Green Garmento protect as well as plastic?
Yes, The Green Garmento protects clothing from water, dust, and wrinkling while allowing it to breathe.
The bag’s built-in gussets on either side provide plenty of area for each item to hang softly while being protected from the weather.
Does The Green Garmento have the same warnings as plastic?
Consumers are advised by the federal government to remove plastic dry cleaning bags from clothing as soon as possible in order to protect them from dangerous chemicals that become trapped in the plastic.
The Green Garmento is constructed of breathable, non-woven polypropylene, a recyclable material that, unlike plastic, does not trap dangerous chemicals.
How will they know which bag goes with which order?
The exterior plastic ticket pocket will make it easier for them to recognize their customer’s order.
They don’t have space for The Green Garmento. How do they make room?
The bag has little handles on either end that allow it to be simply hung on any hook or “arm” on a wall.
Because the fabric is so thin, all of the bags may be “smooshed” together in a small space.
If properly kept, The Green Garmento should take up no more room than a few rolls of plastic.
They have a system and it works. Why should they change it?
They recognize that in order to adjust to The Green Garmento, their system will need to modify slightly.
The money they save by not using plastic bags, as well as the good they do for the environment, will be well worth it.
Is the Green Garmento washable?
Yes, the Green Garmento is machine washable in cold water.
It dries rapidly; they recommend hanging it to dry or using a cold dryer to extend the life of the bag.
Where is The Green Garmento headquarters?
Green Garmento’s headquarters are in Chatsworth, California, in the United States.
What is The Green Garmento phone number?
The phone number for Green Garmento is (323) 512-2600.
What is The Green Garmento website?
www.thegreengarmento.com is the website for Green Garmento.
What year was The Green Garmento started?
The Green Garmento began in 2008.
Is Green Garmento patent?
Yes, Green Garmento is fully patented.
What is net worth of Jennie Nigrosh?
Jennie Nigrosh has a net worth of $3 Million.
