Patrick and Jennifer Coddou seek a Shark to help them grow Supply, their modern, single blade razors, in Shark Tank episode 1107. The couple started the business as a “side hustle” in 2015. At that time, Patrick was still climbing the corporate ladder at Lockheed Martin. His last job there was selling jet fighters to overseas accounts. While that sounds exciting, both he and his wife – who he met while working at Lockheed – yearned for more.
In 2015, they launched the then “part-time business” with a successful Kickstarter campaign that raised $78,278. While on a road trip out west together in 2017, the couple did some soul searching and decided to go all in with Supply. Patrick put in his two weeks notice upon their return and rest, as they say, is history. They did a second Kickstarter in 2017 to launch Supply 2.0 that raised a whopping $256,092 and they were well on their way.
The heart of the business is the Supply 2.0 single blade injection razor. It’s like the single edge razors of old, but in a sleek, modern, stainless steel package. At $79.00 for a razor, it seems pricey at first, but each new razor comes with a 100 year guarantee and a year’s supply of blades. Replacement blades are just 50 cents each.
Single edge razors deflate the “myth” of the multi-blade razor. Multiple blades actually pull hair out of the skin, resulting in more – not less – razor burn. Handling the blades is easy, too: just insert the pre-loaded blade magazine into the Single Edge and slide the lever to change the blade. They also sell grooming accessories including ultra-lather shave cream, silvertip synthetic shave brush, aloe-based post shave, daily wash and body lotion. They also launched a third successful Kickstarter that raised $32,223 for the “everyday Dopp Kit.” This was to help launch their line of leather goods. The Coddou’s likely want a Shark to help them take the business to the next level. Will a Shark think Supply is a sharp investment?
Company Information
Video
Posts about Supply on Shark Tank Blog
Supply Razors – Hi Tech Single Blade Razors
Supply Shark Tank Recap
Patrick and Jennifer enter the Shark Tank seeking $300,000 for 10% of their business. They have fake moustaches on and Patrick’s falls off. He also flubs his lines, prompting encouragement from the Sharks. They have $2.5 million in sales this year (2019), up from $1 million the previous year. Each kit costs $28 to make and sells for $125.
Lori calls it “the Cadillac of razors, but she doesn’t relate to the product; she’s out. Daniel is not a fan of single blade razors; he’s out. Mark says he’s addicted to the razor he’s been using for 25 years; he’s out. Kevin offers $300,000 for 5% plus $1.50 per unit in perpetuity. Robert says royalties suck the cash out of companies. He offers $300,000 for 15%. They accept.
Supply Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. The deal with Robert never closed. In the 2 days following the original air date, they sold more razors than they had in any previous month. In January, 2020, they did a million dollar month. As of July, 2021, they’re doing $12 million in sales a year. In September, 2022, the business was acquired by Foundry Brands for an undisclosed amount.
Patrick Tweeted this about the transaction:
@getsupply
has been acquired! Our new home is with Foundry Brands.With this acquisition, Supply is entering a new phase of growth. I’ve *never* been more excited about our future.
The entire Supply team stayed on after the acquisition.
Recent Comments