We wear different types of clothes on different occasions. Sometimes it’s un the urge to wear something new while mothers have to constantly change and rinse their clothes after getting stains from interacting with their kids. This usually led to being conscious and spending less time with kids.
Whitney Lundeen, the owner of Sonnet James, has the perfect dresses for moms to wear anywhere they want. Her product is not only comfortable and attractive but it makes a person put together all the time so that they don’t have to change after playing with their kids. They can be easily washed as well avoiding spending on expensive dry cleaners.
The owner came on Shark Tank to request $350K for 25% of her company. She also brought her collection with a model to demonstrate the flawlessness of her dresses. Let’s examine her journey on the show.
Sonnet James Net Worth Shark Tank Update
Whitney was looking for an investment of $350k in exchange for 25% equity in her company. At the time of the episode, she valued her company at $1.4 million. Whitney successfully secured a deal with Sara for an investment of $350k for 25% equity in the company. The investment adjusted the company’s net worth to around $1.4 million. After the show was aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of Sonnet James in 2024 is around $6 million.
Shark(s) name
Offer & Demand
Counteroffer
Accepted?
Kevin O’Leary
Out
N\A
N\A
Mark Cuban
Out
N\A
N\A
Barbara Corcoran
Out
N\A
N\A
Lori Greiner
Out
N\A
N\A
Sara Blakely
$350K for 25% equity
$350K for 25% equity
Yes
The Owner’s Backstory
Whitney became a mother when she was only twenty-two years old and then she decided to become a stay-at-home mother. Afterward, she became a single mother to two boys and decided to make a dress that would not have to be changed after playing with her kids. Then she began to work on sewing and made a website on her own. Suddenly a mother blogger picked up her website and she got 150 orders. Then she started her Sonnet James business.
She also related how her childhood was abusive and addictive, which made her more sympathetic towards all mothers around the world. This created an emotional outburst among the judges.
Initial Pitch
The owner came on the show to seek $350K for a 25% equity stake. Her product is an inspiration from her own childhood and her kids. The dresses she offers are washable, comfortable, and attractive to wear.
Lori asked the first question about the cost of the product. Whitney replied that it costs her $34 to make and she makes them in California. She sells a single dress for $138 on average and thus her margins are 75%.
Corcoran asked regarding her medium of sales. She highlighted that her business is direct to consumers and so it is online.
After highlighting her $1.4M valuation, Kevin asked about her sales. The owner answered that she had started the business five years back. According to her trajectory, she made $84K in sales in the first year, and last year it was about $1.2M. Her average order is two dresses for a single customer, making a total of $250 a month. Her returning customers are equal to 43%.
Cuban then wanted to know about her profits. Her net profits are on average 8% to 10%.
Sara, the guest shark, asked Whitney about her role in the business. She answered that she designs every single dress by herself.
Kevin inquired about his income from the profit. She pointed out that out of an average $100K she gets $70K for herself.
Sara was the first to pitch an offer as she was already in a similar type of business. She offered $350K for a 25% equity stake which was exactly what Whitney wanted.
Whitney immediately accepted Sara’s offer without waiting for the other sharks to say something about the offer. Kevin appreciated Whitney’s presentation at the end of the episode as well.
Despite getting the deal of her choice from Sara, Whitney’s business doesn’t make much progress. The deal with Sara had no practical turn but she was still having sales of $6M per year. However, in 2023, the business shut down due to Whitney’s personal commitments. The Sonnet James website is still functioning and only tote bags are available.
Thus, Whitney went through hard times but she still made it through a business with her two kids. She grabbed a deal on Shark Tank too however, in 2023 the business shut down. We are hoping to see Whitney at her peak again.
Hey there, it’s Andaleb Youns. I am a freelance content writer and am currently pursuing a BS in English Language and Literature. I have expertise in writing Blog Posts, social media content, and copywriting. I know how it feels to be a student and still be dependent on parents to fulfill even basic daily needs. This realization became apparent while watching Shark Tank. Although I started watching this show out of boredom, it proved to be an inspirational show. The show made me realize the importance of hard work, being independent, and of having a business of my own. I still look forward to it for entertaining and inspirational content.
