KIN Apparel

KIN Apparel

Early Stage

Successful Shark Tank Apparel Brand with $8M in Sales

Successful Shark Tank Apparel Brand with $8M in Sales

Overview

Raised to Date: Raised: $188,976

Total Commitments ($USD)

Platform

Wefunder

Start Date

03/20/2024

Close Date

07/18/2024

Min. Goal
$50,000
Max. Goal
$1,235,000
Min. Investment

$250

Security Type

SAFE

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$8,000,000

Valuation Cap

$10,000,000

Discount

20%

Rolling Commitments ($USD)

Status

Active

Reporting Date

04/15/2024

Days Remaining

94

% of Min. Goal

378%

% of Max. Goal

15%

Likelihood of Max
unlikely
Avg. Daily Raise

$7,268

# of Investors

274

Momentum
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Year Founded

2020

Industry

Apparel & Fashion

Tech Sector

Non-Tech

Location

Philadelphia, Pennsylvania

KIN Apparel, with a valuation of $10 million, is raising funds on Wefunder. It is a functional clothing brand known for its satin-lined hoodies and hats for hair protection. KIN Apparel’s hoodies and hats are inclusive and specially cater to people with curly or coily hair types with their soft and plush interior, the nurturing feel of satin on the scalp, and big hoods. The business has a customer base of 60,000 and has generated lifetime sales of $8 million. Philomina Kane founded KIN Apparel in July 2020. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1.24 million. The campaign proceeds will be used for marketing and branding, retail expansion, and inventory.

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$2,847,535

$2,488,142

COGS

$1,377,092

$791,784

Tax

$32,950

$2,140

 

 

Net Income

$-503,433

$507,483

Summary Balance Sheet

FY 2023 FY 2022

Cash

$255,277

$742,099

Accounts Receivable

$0

$0

Total Assets

$610,062

$923,499

Short-Term Debt

$235,296

$195,037

Long-Term Debt

$256,049

$102,521

Total Liabilities

$491,345

$297,558

Financials as of: 03/20/2024
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KIN Apparel on Wefunder 2024
Platform: Wefunder
Security Type: SAFE
Valuation: $10,000,000

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