Umano Shark Tank Net Worth
Umano is a t-shirt company that appeared on Shark Tank and received a $150,000 investment from Mark Cuban and Lori Greiner.
The company was founded by brothers Alex and Jonathan Torrey, but it has since been discontinued.
Umano’s net worth before appearing on Shark Tank was $1 million.
What is Umano Clothing and Who are Umano Founders?
Umano Clothing is a company that produces t-shirts featuring children’s artwork and donates a bag of art supplies to a child in need for every t-shirt sold. The founders, Jonathan and Alex Torrey established the company in 2011 with the goal of empowering and assisting children.
Their t-shirts are made from a sustainably sourced micro modal fabric and birch wood trees, which they claim makes them extremely soft.
The company’s concept revolves around children, not just t-shirts, as they allow children to design the artwork featured on the shirts and donate backpacks filled with school supplies to deserving children for every t-shirt purchased. Last year alone, they donated almost 10,000 backpacks.
Jonathan and Alex Torrey were inspired to start the business after realizing that teaching children how to perceive things in school was essential. They also encouraged children to recognize their own potential and forge their own paths.
Before founding Umano, the Torrey brothers had no experience in fashion, manufacturing, or e-commerce. Despite facing some challenges along the way, they were able to overcome them with the help of dedicated staff and new relationships.
The company began in their parent’s garage, but with the help of a successful Kickstarter campaign that raised over $30,000, they were able to expand into warehouse space and increase their screen printing capacity. Today, their shirts can be found in Bloomingdales and niche shops throughout the country.
Umano Shark Tank Pitch
During the pitch on Shark Tank, Jonathan and Alex shared that they were back living with their parents to help grow the business, which was a family effort. They were seeking $150k for a 15% stake in their company, which valued the business at $1 million.
Their products were upgraded fashion staples that connected people to a cause, and they passed out samples of their best designs. Bloomingdale’s, specialized stores, and online sold their shirts for $48.
When asked by Daymond if they paid royalties to the artists, they responded that they were engaged in “social business,” and Mark believed that millennials would embrace their mission.
Robert inquired about the cost of goods sold, and Jonathan revealed that the t-shirts cost $7 to make, and the bag given to the students cost $4, making the total cost of each shirt $11.
Despite forecasts of $250k in sales for 2015, Robert and Kevin didn’t invest, believing there was too much risk. However, Lori was impressed by their mission and offered $150k for a 25% stake in the company, which Daymond also matched.
Mark offered $150k for 20% and invited either Lori or Daymond to join him. Ultimately, Lori and Mark’s offer was accepted, but Daymond insisted on keeping the shirt.
After appearing on Shark Tank, Umano’s popularity grew, but the founders decided to leave the brand in March 2017. However, Jonathan planned to start another social entrepreneurship-style firm that could have an even greater impact.
In 2021, Alex started a local “basic products” delivery business in Philadelphia called Mlkmn, while Jonathan formed AMHC, a “development and property management firm specializing in factory-built housing projects.”
Umano Net Worth
Jonathan and Alex are looking for $150,000 for a 15% stake in the company. This represents $1 million. They accepted an offer from Mark and Lori of $150,000 for a 20% stake thus valuing it at 750,000.
Umano Competitors
There is a competitor identified for Umano.
Umano Shark Tank Updates
Umano is a philanthropic fashion brand that empowers kids by turning their designs into high-fashion shirts and accessories. The brand was founded by Jonathan and Alex Torrey, who started the business out of their garage.
For every shirt sold, Umano donated a bag of school supplies to a child in need. In 2015, the Torrey brothers appeared on Shark Tank seeking $150,000 for 15% equity in their business. They struck a deal with Lori Greiner and Mark Cuban for $150,000 for 20% equity.
However, in February 2017, Umano announced that they would be closing shop and sold out of everything on their site.
As of 2023, there have been no updates on Umano’s status or whether they plan to restart the company. While some Shark Tank businesses continue to thrive years later, others have ceased production.
Umano Shark Tank Table Summary:
| TITLE | INFORMATION |
| Company Name | Umano |
| Product | T-shirts featuring children’s artwork |
| Founders | Jonathan and Alex Torrey |
| Shark Tank | Received $150,000 investment from Mark Cuban and Lori Greiner |
| Net Worth | $1 million before appearing on Shark Tank |
| Competitors | Unidentified |
| Update | Discontinued in February 2017 |
| Replacement | Alex started “basic products” delivery business in Philadelphia called Mlkmn, and Jonathan formed AMHC, a “development and property management firm specializing in factory-built housing projects.” |
| Donations | A bag of art supplies to a child in need for every t-shirt sold. Also, donated almost 10,000 backpacks filled with school supplies to deserving children. |
| Materials | T-shirts are made from a sustainably sourced micro modal fabric and birch wood trees, which makes them extremely soft. |
| Price | Sold in Bloomingdales and niche shops for $48 per shirt |
Umano Clothing FAQS
What Is Umano Clothing, Umano Founders, And How Does Umano Clothing Work?
Umano Clothing is a clothing brand that produces t-shirts, tops, dresses, and fleece for women, men, and kids. The company was founded by brothers Alex and Jonathan Torrey, who started the company with a mission to empower kids and unleash their creativity inspired by art.
The unique aspect of Umano Clothing’s business model is that kids draw the art, and with every product purchased, Umano Clothing donates a backpack full of art supplies to empower a kid to unleash their creativity.
Umano Clothing appeared on Shark Tank and received a $150,000 investment from Mark Cuban and Lori Greiner.
As of 2017, the company has empowered 40,000 children both in the United States and internationally through its giving promise. However, as of the end of March 2023, the company has discontinued its brand.
Umano Clothing’s mission was to empower kids to unleash their creativity, and they achieved this by allowing kids to draw the art featured on their clothing and donating art supplies to kids in need with every purchase.
Umano Clothing’s founders, Alex, and Jonathan Torrey, started the company with this mission in mind and appeared on Shark Tank to gain investment and exposure for their brand. Despite the company’s success and impact, it has since been discontinued as of March 2023.
What Happened To Umano Clothing After The Shark Tank?
Umano Clothing was a company that made t-shirts featuring the artwork of children. For every t-shirt sold, Umano gave a backpack full of art supplies to a child in need.
The company was founded by brothers Jonathan and Alex Torrey, who pitched their business on Shark Tank in 2015 and made a deal with Mark Cuban and Lori Greiner. Directly after the show aired, they sold more shirts than ever before.
However, in February 2017, Umano announced that they would be closing shop and sold out of everything on their site. The brothers indicated that they opted to close Umano because they hoped to expand the concept.
As of 2017, the Umano clothing brand had empowered 40,000 children both in the United States and internationally through the company’s giving promise. The company ended its journey by discontinuing its brand in March 2017.
Unfortunately, Umano Clothing is not currently in business and hasn’t shown signs of restarting the company.
What Is The Current Valuation Of Umano Clothing?
Umano Clothing is a t-shirt company that appeared on Shark Tank and received a $150,000 investment from Mark Cuban and Lori Greiner.
The company was founded by brothers Alex and Jonathan Torrey, but it has since been discontinued. As of the end of March 2017, the company is ending its journey by discontinuing its brand. Umano’s net worth before appearing on Shark Tank was $1 million.
However, Umano’s founders Jonathan Torrey and Alex Torrey’s net worths are unknown. Therefore, there is no information available on the current valuation of Umano Clothing.
Did Umano Clothing Get The Deal From The Sharks?
Umano Clothing is a t-shirt company that appeared on Shark Tank and received a $150,000 investment from Mark Cuban and Lori Greiner.
The company was founded by brothers Alex and Jonathan Torrey, and it produced t-shirts featuring children’s artwork. For every t-shirt sold, Umano donated a bag of art supplies to a child in need.
However, in February 2017, Umano announced that they would be closing shop and sold out of everything on their site. There have been no signs of the company restarting since then. Therefore, it can be concluded that Umano Clothing did not continue after receiving the investment from the Sharks.
Is Umano Still In Business?
No, Umano is no longer in business. As of the end of March 2017, the Umano clothing brand discontinued its business.
The company, founded by brothers Alexander and Jonathan Torrey, was known for making t-shirts from children’s artwork and giving a bag of painting supplies to a child in need for every t-shirt sold.
The Umano brand empowered 40,000 children in the United States and internationally through its giving promise. However, the company’s journey ended in 2017 when it discontinued its brand.
Why Did Umano Go Out Of Business?
Umano, a clothing brand founded by brothers Alexander and Jonathan Torrey, has discontinued its brand as of the end of March.
The company was known for its mission to do well while also doing good, and it empowered 40,000 children both in the United States and internationally through its giving promise. Umano quickly shot to fame after a feature on the TV show “Shark Tank,” where it received a $150,000 investment from Mark Cuban and Lori Greiner.
However, the company’s journey ended with an “end of this journey” sale during which clothing was sold online at highly discounted prices.
The reason for Umano’s closure is not explicitly stated in the search results. However, it is possible that the company faced challenges in the highly competitive clothing industry, especially during the COVID-19 pandemic.
Many companies failed to adapt to changing market forces and lost profits because of it. It is also possible that Umano faced financial difficulties, as its net worth before appearing on “Shark Tank” was only $1 million.
Regardless of the reason, the closure of Umano is a reminder of the challenges that businesses face, even those with a strong social mission.
How much were they asking in the Shark Tank Pitch?
They were seeking $150,000 for a 15% stake in the company.
What forms of payment was umano.com accepting?
All major credit cards are accepted at umano.com.
What does Umano mean?
Umano is an Italian word that means “mankind.”
Who started Umano?
Umano was formed in 2011 by brothers Jonathan and Alex Torrey.
Where were they based?
Umano is located in Athens, Georgia, the world’s fashion centre.
Were people donating?
People do not take donations, but they may support Umano’s objective of empowering children to unleash their creativity by purchasing one of their fantastic goods.
With each purchase, Umano will provide a backpack full of art tools to a child in need.
What percent of proceeds were they donating?
Their approach is based on a one-for-one giveback.
With every product purchased, they provide a bag full of art supplies to an underprivileged child and personally deliver it to their partner school, regardless of cost.
One package equals one backpack of art supplies.
Was every kid receiving a backpack?
Yes, each student at one of their partner schools receives a backpack.
How were they choose what kids to give backpacks to?
All of the children at Umano’s partner schools receive backpacks.
How often was Umano giving?
They give several times a year. They can adjust their donation schedule to best fit the requirements of their partner schools since they work directly with them.
Where were Umano products manufactured?
Their omobono cloth is made in Turkey, cut and sewed in Haiti, and screen printed in Athens, Georgia.
Their Umanotarian shirts are manufactured in Egypt.
How was Umano working with manufacturers to adhere to human rights?
Umano does all possible to uphold human rights principles.
To fulfill the highest standards, they’ve built a rigorous due diligence procedure and work with their own staff and reputable manufacturing partners.
What is the net worth of Jonathan Torrey?
Jonathan Torrey’s net worth is currently unavailable.
What is the net worth of Alex Torrey?
Alex Torrey’s net worth is currently unavailable.
