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Samson Martin offers maternity t-shirts (tees) with the words “Due In” and was seeking $50,000 for 15% equity in the company on ABC’s The Shark Tank. The company started by Kim Preis did sales is $400,000 in its best year, but did just sales of $90,000 last year. The company has been sold through high end boutiques to date but Preis wanted to reorient the company to focus on more mass market product.
From an intellectual property perspective, Preis has a trademark on the words “Due In”.
Kevin O’Leary said he doesn’t like that the market is small and only focused on pregnant women. While Robert Herjavec and Barbara Corcoran liked that it was a targeted niche and one that is constantly growing.
Daymond John opted out because of the environment for these types of purchases is not ideal at present. Kevin Harrington didn’t like the fact that the company required lots of SKUs to make happen and so opted out. Barbara Corcoran thought the t-shirts in NYC which she sees that just say the month vs. “Due In” are actually more clever. Robert Herjavec said it looked like too tough a climb to reorient the product. And then Kevin O’Leary piled on with lots of negativity while saying no.
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