Sonnet James Shark Tank Net Worth 2023
Whitney, the owner of a company, participated in the television show Shark Tank in a specific season. She was seeking a financial investment of $350,000 in exchange for a 25% ownership stake in her company. This valuation amounted to $1.4 million.
On the show, Sara made an offer to Whitney for the same valuation of $1.4 million. Whitney agreed to Sara’s offer, and they made a deal.
Since appearing on the show, Whitney’s company has grown, and as a result, its current valuation is higher than the initial $1.4 million valuation that was established during the Shark Tank episode.
What is Sonnet James? Who is the Founder of Sonnet James?
Sonnet James is a company that produces a playful collection of dresses designed for mothers with young children.
These dresses are made from durable four-way stretch modal-spandex material, and they have a basic yet attractive style that makes them very easy to clean.
On their website, the care instructions for these dresses are simple: wash them in cold water (without any softener), and then hang them or lay them flat to dry.
One of the biggest benefits of Sonnet James dresses is that they don’t require any special washing techniques, ironing, or trips to the dry cleaners. They’re specifically designed to make life easier for busy moms.
Whitney Lundeen, a young mother from Palo Alto, California, is the designer behind these cozy and beautiful dresses.
Lundeen wanted to stay trendy while playing with her two young sons, but she didn’t want to ruin her nice clothes in the process.
Instead, she started repurposing her maternity clothes as “play clothes,” but she still wanted something that was fashionable and sturdy enough for rough and tumble play. That’s when she decided to create her own spandex clothing line.
On New Year’s Day 2013, Lundeen began designing what would become the Sonnet James dress line. She created 12 distinct dress designs, and then set out to purchase materials to make them.
In August 2013, she launched her company through a Kickstarter campaign. The campaign had an initial goal of $48,000, but it ended up receiving $58,245 from 628 people.
Today, Sonnet James dresses range in price from $100 to $160, and they come with a three-day, no-hassle try-on guarantee.
These dresses are handcrafted in San Francisco using fabric that is manufactured in New York and printed in Los Angeles. They’re perfect for moms who want to look great and feel comfortable while playing with their kids.
Sonnet James Shark Tank Pitch
Whitney, the founder of Sonnet James, sought an investment of $350,000 for a 25% stake in her company during her appearance on Season 1 Episode 11 of Shark Tank.
This would value her company at $1.4 million. Whitney presented her company to the Sharks and gave them samples of her clothing.
Each piece of clothing is made in California and costs $34 per unit to produce. They are sold for an average of $138 per unit.
Typically, customers order two articles of clothing, and 43% of them return for another purchase. Sonnet James has a return rate of only 23%, which is lower than the industry average of 30%.
Sonnet James has been operating for five years and gained initial traction when a prominent mom-blogger posted about the clothing, resulting in 150 overnight orders.
In the first year of operation, the company made $84,000, but in the prior year, it made $1.2 million in revenue. However, after paying Whitney a $70,000 yearly salary, the company’s net profit was only $100,000.
During the pitch, Mark defended the $1.4 million valuation, while Kevin questioned it due to the company’s low profit margin.
Sara was hesitant to invest at first due to the 23% return rate but was impressed by Whitney’s story and ended up offering the requested investment of $350,000 for a 25% stake in the company.
After the episode aired, Sonnet James received a significant boost in sales and traffic, and Sara even used one of the dresses for a magazine cover.
The deal with Sara was completed, and as of June 2021, Sonnet James has $6 million in yearly sales and is still in operation.
What is the Net Worth of Sonnet James?
Whitney appeared on Shark Tank Season in search of $350,000 for a 25% stake in her company. This translates to a $1.4 million valuation. She accepted Sara’s offer of the same valuation.
Current valuation is evidently higher since the Company has grown.
Who are the Competitors of Sonnet James?
Sonnet James competes in its market with the following companies: Goddiva and Flynn Skye.
Sonnet James FAQS
What is Sonnet James?
Sonnet James is a company that creates a collection of playful dresses for mothers with small children.
Sonnet James dresses are composed of durable, four-way stretch modal-spandex and are very easy to clean in a basic yet attractive style.
Who founded Sonnet James?
Whitney Lundeen, a young mother from Palo Alto, California, is the founder of Sonnet James.
How much was she seeking in the Shark Tank?
Lundeen was seeking $350,000 for a 25% stake in her company.
How much did she get in the Shark Tank?
Lundeen accepted Sara’s offer of $350,000 for a 25% stake in her company.
Is Sonnet James still in business?
As of June 2021, the company is still in existence with revenues of $6 million.
Who is the Shark who invested in Sonnet James?
Sara Blakely who was a guest Shark invested in Sonnet James.
Where is Sonnet James headquartered?
Sonnet James is headquartered in Palo Alto, CA
What is the Sonnet James website?
The Sonnet James website is www.sonnetjames.com
When was Sonnet James aired on Shark Tank?
Sonnet James was aired on Shark Tank Season 10 Episode 11 which aired in January 20, 2019.
Who are the Sonnet James competitors?
Sonnet James competes with Goddiva and Flynn Skye.
Is sonnet James profitable?
Sonnet James, which had been in business for five years through its website, had $1.2 million in sales in the year previous the episode’s taping, but Lundeen’s net profit margin was just 8 to 10%.
Lundeen, on the other hand, won over guest shark Sara Blakely, the inventor of Spanx, with her spirit and determination.
Where are their dresses made?
Their gowns are handcrafted in San Francisco, California, USA. They collaborate with a local pattern maker and manufacturer to design and sew their gowns, which are entirely made in the USA.
What materials are their dresses made out of?
Sonnet James used three distinct fabric weights for various garment designs:
Rayon and spandex or micro modal and spandex are mid-weight fabrics.
Nylon, rayon, and Lycra are heavyweight fabrics.
The woven fabric is made entirely of rayon.
Can they wear their Sonnet James dress throughout their pregnancy?
Yes! The majority of their dress styles are perfectly suited to a growing baby bump.
Please bear in mind that while their heavy-weight materials (nylon, rayon, and Lycra) provide excellent shape and covering, they may not stretch up to 40 weeks.
Which dresses are suitable for breastfeeding?
Many of their gowns are suitable for breastfeeding.
Are Sonnet James dresses available for purchase in retail stores where they can try them on?
Sonnet James gowns are now only available for purchase on their website.
What is their return policy?
They will have 30 days to decide whether to keep their clothing or not. If they want to return something, all they ask is that they package it carefully and place it in the transparent protective bags with the tags still attached.
What is their Shipping costs?
Domestic shipping is computed at checkout and is depending on the customer’s location. All domestic orders are sent by USPS.
International shipping is now available, and customs taxes are not included in the shipping cost.
When will their order be delivered?
They can’t wait for their order to be delivered! After customers submit their order, it will be processed in 1 to 2 business days and dispatched by USPS 2-3 Day Priority Mail or USPS International Priority Mail.
What is the net worth of Whitney Lundeen?
Whitney Lundeen’s net worth is unavailable.
