Legacy Shave Shark Tank Update – Shark Tank Season 14
Legacy Shave entered the Shark Tank with a deeply personal story and a patented shave brush designed to modernize the grooming experience. Sales were dwindling before the pitch, but a surprise deal from Lori Greiner turned everything around.
Brothers Mike and Dave Gutow didn’t just create a shaving accessory; they revived a family legacy. On Shark Tank Season 14, Episode 7, Mike Gutow entered the Tank with a story that pulled on heartstrings and a product that aimed to revolutionize the way people lather up.
Legacy Shave wasn’t just about grooming; it was about honoring their father’s final wish and turning a forgotten dream into a successful business. Would a Shark strike a deal?
About Legacy Shave
| Category | Details |
|---|---|
| Business Name | Legacy Shave |
| Founders | Mike Gutow (with brother Dave) |
| Industry | Personal Care (Shaving Products) |
| Product | Evolution Shave Brush |
| Funding (Pre-Shark Tank) | $300,000 |
| Investment Asked | $300,000 for 10% equity |
| Deal Status | Deal Secured with Shark Lori |
| Deal Outcome | $700,000 for 95% equity |
| Valuation | $3 million (at the time of Shark Tank) |
Mike Gutow entered Shark Tank hoping to secure a deal for Legacy Shave, the patented shaving brush attachment he started with his brother Dave, who did not appear on the show.
Legacy Shave’s signature product, the Evolution Shave Brush, is a nozzle with a shaving brush that attaches directly to any standard shaving cream or gel can. It brought back the luxurious feel of a traditional shaving brush while adding modern convenience.
The brush featured soft bristles that evenly distributed shaving cream while lifting hair follicles for a closer, smoother shave. It also helped conserve shaving cream. In addition to the brush, the company also sells shaving cream, razors, bar soaps, and pre-packaged gift sets.
Founding Story
The remarkable thing about this business was how it came to life.
Mike and Dave developed the original product after graduating from Michigan State. With the help of their father, they ordered 3,000 units of the initial product design that needed to be assembled. The brothers assembled about 200 units before losing interest.
Over the years, they continued asking each other when they were going to launch the business, but they never did. Around 17 years after placing the original order, their father passed away from cancer.
While cleaning out his basement, they made a life-changing discovery. They found that their father had quietly assembled all 3,000 units during chemotherapy treatments. Alongside the completed boxes, he left a note that read, “Don’t wait. Life’s short. Take the shot.”
That emotional discovery motivated the brothers to finally move forward. They launched a Kickstarter campaign, secured a patent, and redesigned the original Evolution Shave Brush into a sleeker, more consumer-friendly product.
The product was featured in The Sharper Image in 2017 and was voted the top new product at the 2019 ECRM Show in Orlando, Florida. The Evolution Shave Brush helped lift hair follicles for a closer shave and made shaving cream cans last up to four times longer.
Mike and Dave entered Shark Tank hoping a Shark would help solve their inventory and marketing challenges.
Legacy Shave Shark Tank Pitch
Mike entered the Shark Tank seeking $300,000 for 10% equity. He explained that his patented technology was designed to disrupt the $50 billion global shaving industry.
He demonstrated traditional shaving by applying cream to one side of his face using his hand. He explained that this method pushed hair down instead of lifting it and wasted nearly half the shaving cream.
Next, he showed a traditional shave brush and explained that while it provided a better shave, most people no longer had time to use it.
Mike then introduced the Evolution Shave Brush, demonstrating it on the other side of his face while using significantly less shaving cream. He explained that the attachment fits virtually any shaving cream can, displaying numerous brands fitted with the brush system.
The Sharks applauded the presentation, with Mark Cuban calling it one of the best presentations he had ever seen.
Valuation
The Sharks received samples of the product with Legacy Shave shaving cream attached to the brush.
Robert Herjavec liked the shaving cream. Mike explained that the brush and shaving cream bundle sold for $24.95 and cost $5.39 to manufacture. The brush by itself retailed for $19.95.
When Lori asked how the idea originated, Mike shared the emotional story about his father. He explained that after inventing the product, he and his brother became afraid to move forward, allowing it to sit untouched for nearly 20 years until discovering the 3,000 assembled units in their father’s basement.
Mike said appearing on Shark Tank gave him and his brother the courage to finally take the shot.
Lifetime sales had exceeded $1 million, with more than 100,000 units sold over five years.
Kevin requested a yearly sales breakdown, and he said it was $70,000 in 2018, $370,000 in 2019, $390,000 in 2020, $96,000 in 2021 and $42,000 in 2022, with an additional $63,000 purchase order
Mark pointed out that sales were declining. Mike explained they had run out of money. The family had invested more than $400,000 into the business. Although they wanted to focus on direct-to-consumer sales, Mike and Dave admitted they lacked marketing experience.
What Makes Legacy Shave Unique?
Legacy Shave stood out in the grooming industry through a combination of innovation and convenience:
- Patented Evolution Shave Brush that attaches to nearly any aerosol shaving cream can.
- Combined the luxury of a traditional shave brush with modern convenience.
- Helped lift hair follicles for a closer, smoother shave.
- Reduced shaving cream waste, making each can last longer.
- Offered a simple but effective upgrade to the everyday shaving experience.
Did Legacy Shave Get A Deal on Shark Tank?
Barbara Corcoran said Mike was not a clear communicator and decided she was out.
Mark Cuban did not like that the company had run out of money, and he also dropped out.
Mike then revealed that his patent covered all aerosol cans.
Kevin O’Leary called Mike’s story one of the most moving stories he had ever heard on Shark Tank. However, he believed the shaving industry was dominated by massive companies and chose not to invest.
Robert Herjavec also saw too many challenges and decided it was not for him.
Lori Greiner liked the product’s interchangeability and strong patent protection. Although she had concerns about sales, she understood Mike’s lack of experience in consumer products.
Lori initially offered $1 million for 100% ownership, along with a 3% royalty on net sales for life.
After a break, Lori explained that she wanted to purchase all the patents. Mike asked whether she would accept the same arrangement if he retained 5% ownership. Mark jokingly called it “schmuck insurance.”
Lori agreed to revise the offer to $700,000 for 95% equity, and Mike accepted the deal.
Legacy Shave Shark Tank Update
Following the Shark Tank appearance, Legacy Shave experienced significant growth.
In November 2022, the company appeared on QVC just four days after the episode aired, where it sold out all 2,500 units and gained more than 800 new customers. The overwhelming demand created inventory shortages that lasted until the spring of 2023.
By June 2023, the company had restocked and resumed regular shipping. Legacy Shave also introduced a Father’s Day gift set featuring the Evolution Shave Brush, shaving cream, a premium razor, and shave balm.
The company also expanded its product lineup beyond the Evolution Shave Brush to include premium razors, aloe-infused shaving cream, shave balm, and gift sets. Its products became available through the official website, Amazon, and major retailers such as Walmart.
In December 2022, Mike Gutow publicly thanked customers for their support following the Shark Tank appearance, crediting the show’s exposure for the company’s rapid growth and increased demand.
Did the Deal with Lori Greiner Close?
As of August 2023, the deal with Lori Greiner had reportedly not officially closed despite the agreement shown on television, and reliable revenue figures were unavailable at the time.
Although Lori Greiner agreed on-air to invest $700,000 for 95% equity, multiple reports later indicated that the deal ultimately did not close following the due diligence process.
As a result, Legacy Shave continued operating under the ownership of founders Mike and Dave Gutow.
Legacy Shave Net Worth
By 2025, Legacy Shave’s estimated net worth had reportedly grown to around $6 million, with annual revenue of approximately $1.9 million, according to Geeks Around Globe.
As of 2026, Legacy Shave’s estimated valuation had increased to approximately $7 million, while annual revenue remained around $1.9 million. The company had also surpassed $4.8 million in lifetime sales, a significant increase from the roughly $1 million reported during its Shark Tank appearance.
From a forgotten basement project to a multi-million-dollar brand, Legacy Shave demonstrated how the right story, the right product, and the right opportunity could transform a family dream into a thriving business.
Despite the investment with Lori Greiner not closing, the exposure from Shark Tank helped establish Legacy Shave as a successful and growing personal care brand.
Where Can You Buy It?
The Evolution Shave Brush is available directly from Legacy Shave’s official website and on Amazon.
Customers can also purchase gift sets that include the Evolution Shave Brush, branded shaving cream, shave balm, and razors.
The company also shares updates, discounts, and product launches through its Instagram, Facebook and Twitter social media pages.
Posts About The Legacy Shave Brush on Shark Tank Blog
Read more details about The Legacy Shave Brush on the Shark Tank Blog.
Quick Summary
- Mike Gutow pitched Legacy Shave, a patented Evolution Shave Brush attachment that fits standard shaving cream cans.
- He entered Shark Tank seeking $300,000 for 10% equity. Lori Greiner invested $700,000 for 95% equity after negotiations.
- The company’s emotional family story, patented product, and innovative shaving experience helped Legacy Shave stand out.
Check out other Shark Tank Season 14 Episodes.
More products from this episode! Check out the updates from other businesses that participated alongside Legacy Shave.
