Sheets Laundry Club On Shark Tank Update – Shark Tank Season 13
Featured on Shark Tank
Sheets Laundry Club On Shark Tank Season 13
Sheets Laundry Club produces eco-friendly, plastic-free laundry detergent sheets that dissolve in water, providing a sustainable alternative to traditional liquid and powder detergents. With over $2 million in sales, founders Chris Videau and Chris Campbell attracted a $500,000 investment for 8% equity and 2% advisory shares from guest shark Daniel Lubetzky. Summary:
- Company Name: Sheets Laundry Club
- Founders: Chris Videau, Chris Campbell
- Founded: 2019
- Product: Plastic-free, dissolvable laundry detergent sheets
- Asked For: $500,000 for 4% equity
- Final Deal: $500,000 for 8% equity and 2% advisory shares with Daniel Lubetzky
- Season/Episode (Shark Tank USA): Season 13, Episode 7
- Business Status: In Business
- Headquarters: Mooresville, North Carolina, USA
- Lifetime Worth (Sales): Estimated $2M
- Investor: Daniel Lubetzky
- Go To Amazon: Buy Now
- Watch On: Amazon Prime
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Description
Sheets Laundry Club On Shark Tank Update – Shark Tank Season 13
Sheets Laundry Club, which offers eco-friendly dissolvable laundry detergent sheets, appeared on Shark Tank Season 13 and successfully secured an investment.
Here are the updates following their appearance on the show:
Sheets Laundry Club Shark Tank Appearance
- Entrepreneurs: Chris Videau and Chris Campbell
- Business: Sheets Laundry Club, providing plastic-free, dissolvable laundry detergent sheets
- Ask: $500,000 for 5% equity
- Result: $500,000 for 8% equity and 2% advisory shares from Daniel Lubetzky
Sheets Laundry Club Post-Shark Tank
- Customer Base: As of now, Sheets Laundry Club has over 75,000 subscription customers.
- Sales Growth: The company has reported annual revenue between $2.5 million and $3 million. Initially, they projected sales of nearly $7 million for 2021, but their actual performance has been more modest.
- Product Expansion: They have broadened their product line to include additional eco-friendly solutions for kitchen cleaning and self-care.
- Retail Presence: After their Shark Tank episode aired, they secured a test placement in around 200 Harris Teeter supermarkets, but as of April 2023, they are no longer stocked in those stores.
Sheets Laundry Club Challenges
- Patent Concerns: The exclusive agreement with Kimberly-Clark for their dissolvable sheets has raised concerns, especially since the patent is set to expire in October 2024. This has led to worries about competition as other companies enter the market with similar products.
- Deal Closure: Reports indicate that the deal with Daniel Lubetzky did not finalize after the show aired, which is not uncommon in Shark Tank deals.
