Spirithoods Shark Tank Update

Spirithoods Shark Tank Pitch

Marley Marotta and Alexander Mendeluk created SpiritHoods, animal skin-looking headpieces with slots to keep hands warm. They can be used as a fashion piece at a bar or showcasing team spirit at a sporting event. SpiritHoods slogan is "Embrace your inner animal," which is misspelled on their poster as "innner," but was not mentioned.

SpiritHoods launched in 2010 and has done $9.3 million in lifetime sales. $1 million in revenue in year one, $4.5 million in revenue in year two with a $914k profit, $3 million in revenue in year three with a $500k loss, and they are on track to do $3 million in revenue this year. They sell in Zappos and Nordstrom online. 70% of their sales come in the winter months. Marley and Alexander want to use the money to expand into the sports market. Celebrities, including Justin Bieber and Snoop Dogg, have worn SpiritHoods.

The sharks see SpiritHoods as a fad with declining sales. Daymond makes the only offer that justifies the risk, but Marley and Alexander are uninterested, so Daymond joins the rest of the sharks in going out.

Spirithoods After Shark Tank

According to voyagela.com

Along the way, they had several company-threatening events. They have been in lawsuits, knocked off, had cash flow problems, manufacturing issues, technical issues, and more. Latif loved designing animal-themed items and has not lost his passion as of 2022. SpiritHoods puts 10% of sales toward protecting endangered species.

According to Alexander Mendeluk's LinkedIn

In 2022 SpiritHoods raised $109k on startengine.com

As of 2022 SpiritHoods activly posts on their Instagram, @spirithoods