Unshrinkit, a product that helps stretch shrunken wool garments back to their original size, appeared on Shark Tank in November 2015. The founders, Nate Barbera and Desiree Davis Stolar, pitched the product and received an investment of $150,000 for 15% equity from Mark Cuban. At the time of filming, Unshrinkit had sold 5,000 units and had a net worth of $1 million. As of 2022, the founders’ net worth is estimated to be $1.8 million. The current net worth of Unshrinkit in 2023 is unknown. Unshrinkit is still in business, with Stolar serving as CEO, and has an annual revenue of $2 million.

Key Takeaways:

  • Unshrinkit appeared on Shark Tank in November 2015 and received a $150,000 investment from Mark Cuban.
  • At the time of filming, Unshrinkit had sold 5,000 units and had a net worth of $1 million.
  • The founders’ net worth is estimated to be $1.8 million as of 2022.
  • Unshrinkit is still in business, with Stolar as CEO, and has an annual revenue of $2 million.
  • The current net worth of Unshrinkit in 2023 is unknown.

The Story Behind Unshrinkit and How It Works

Unshrinkit is a product developed by Nate Barbera and Desiree Davis Stolar, both graduates of Harvard Business School. This innovative solution is designed to restore shrunken wool garments back to their original size. The process of how Unshrinkit works involves relaxing the protein bonds in the wool fibers that have become curled up due to heat or agitation.

Unshrinkit Product

The Unshrinkit product comes in the form of a liquid solution. To use Unshrinkit, the shrunken garment is soaked in a mixture of warm water and the solution for approximately 30 minutes. After soaking, the garment is rinsed under cold water and then gently stretched to the desired size. Finally, the garment is dried, and the wool fibers regain their original shape and size.

Safe for Different Types of Wool

Unshrinkit can be safely used on various types of wool, including cashmere, merino, wool blends, angora, and lambswool. This versatility makes it a popular choice among consumers who want to rescue their favorite wool garments that have accidentally shrunk in the wash.

Unshrinkit Product Nate Barbera Desiree Davis Stolar
Liquid solution Co-founder Co-founder
Restores shrunken wool garments Harvard Business School graduate Harvard Business School graduate
Relaxes protein bonds in wool fibers
Safe to use on various types of wool

Unshrinkit’s Journey on Shark Tank and Beyond

Unshrinkit’s appearance on Shark Tank in Season 7 was a pivotal moment for the product. Nate Barbera and Desiree Davis Stolar, the founders of Unshrinkit, pitched their innovative solution for rescuing shrunken wool garments. Although their original ask was $150,000 for 10% equity, they received an offer from the legendary investor, Mark Cuban, for $150,000 for 15% equity.

While the deal ultimately didn’t materialize, Unshrinkit leveraged its exposure on the show to propel its success. The company’s journey didn’t end in the tank; it was just the beginning. Led by CEO Desiree Davis Stolar, Unshrinkit continued to thrive, securing investments and establishing partnerships that accelerated its growth.

Today, Unshrinkit is available for purchase not only online but also through well-known retailers, such as Bed Bath & Beyond, Bloomingdale’s, HomeGoods, Marshalls, and T.J.Maxx. The product’s popularity has soared, and it has become a go-to solution for wool enthusiasts who have suffered the disappointment of accidentally shrinking their favorite garments.

Like any successful product, Unshrinkit does face competition. Brands like Restore, Dryel, Smart Shrinking, and Shrinking Spray offer similar solutions in the market. However, Unshrinkit’s unique formula and brand recognition set it apart from its competitors. With a net worth of $2 million as of 2023 and a projected upward trajectory, Unshrinkit is poised for continued growth and expansion of its product line.

FAQ

How does Unshrinkit work?

Unshrinkit is a liquid solution that relaxes the protein bonds in shrunken wool fibers. It works by soaking the shrunken garment in a mixture of warm water and the solution, then gently stretching it back to its original size.

Can I use Unshrinkit on other types of wool besides regular wool?

Yes, Unshrinkit can be safely used on various types of wool, including cashmere, merino, wool blends, angora, and lambswool.

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Where can I purchase Unshrinkit?

Unshrinkit is available for purchase online and can be found at various retailers, including Bed Bath & Beyond, Bloomingdale’s, HomeGoods, Marshalls, and T.J.Maxx.

Can Unshrinkit be used on garments other than wool?

Unshrinkit is specifically designed for wool garments and may not be effective on other types of fabrics. We recommend using it as directed for the best results.

How long should I soak the garment in Unshrinkit solution?

The garment should be soaked in the Unshrinkit solution for approximately 30 minutes before rinsing and stretching.

Can Unshrinkit fix garments that have been heavily felted or shrunk?

Unshrinkit is most effective on garments that have experienced mild to moderate shrinkage. It may not be able to restore heavily felted or severely shrunken garments to their original size.

Are there any precautions I should take when using Unshrinkit?

Unshrinkit is a safe and non-toxic product. However, we recommend following the instructions carefully and avoiding contact with eyes or ingestion of the solution. Keep out of reach of children.

Does Unshrinkit have any competitors?

Yes, Unshrinkit faces competition from other products such as Restore, Dryel, Smart Shrinking, and Shrinking Spray. However, Unshrinkit offers a unique formula and has built a strong brand presence in the market.

Is Unshrinkit still in business?

Yes, Unshrinkit is still in business and continues to thrive. Desiree Davis Stolar serves as the CEO, and the company has secured investments and partnerships to support its growth.

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