This 26-year-old started a hoodie company with $500 — now she has $350,000 in annual sales and a six-figure 'Shark Tank' deal

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This 26-year-old started a hoodie company with $500 — now she has $350,000 in annual sales and a six-figure 'Shark Tank' deal. (via CNBCMakeIt)

, said she was primarily drawn to Kane's story and identity. "Retailers are looking for Black female founders," she said, adding that Kin Apparel's broad, diverse audience "has a huge window of opportunity.", where she documents her hair journey and gives tips to "help Black women embrace their natural hair," she said.

At the time of taping, Kane said she had about $500 in inventory and $150,000 in the bank. She asked the Sharks for $200,000 in exchange for 10% equity, so she could "buy more and stop being on pre-orders." When Grede and Grenier countered with 30% equity, Kane tried to negotiate them down — but the Sharks didn't budge.For Kane, who was raised by her grandmother in Ghana, the deal is a redemption of sorts: Her parents didn't always approve of her abrupt career shift, she said. Before Kin Apparel, Kane planned to attend Columbia University's Mailman School of Public Health and find a job in global health.

"Recognize one of the greatest skills an entrepreneur can have is knowing what they can't do," he said.Update: This story has been updated to clarify that Kane landed her deal with Grenier and Grede on Friday, Oct. 8's episode of "Shark Tank."

 

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