Goumikids Makes Waves on Shark Tank with $5.8M in Sales
Goumikids, an eco-friendly baby clothing brand, made waves on Shark Tank with lifetime sales of $5.8 million. Founders Lili Yeo and Linsey Fuller pitched their innovative products to investors, ultimately securing a deal with Kevin O'Leary.
Yeo and Fuller launched Goumikids after identifying a gap in the market for organic baby apparel. Their signature product, Goumi Mitts, features a unique 2-part snap fastening to protect baby's hands. The brand's commitment to safety is evident in their products, which are free from sharp or abrasive components and have antibacterial surfaces.
Goumikids' range includes mitts, footed pajamas, boots, sleepers, and robes, all made from cozy, environmentally friendly materials. Despite experiencing shipment delays due to COVID-19, the brand has built a strong online presence with over 200k Instagram followers and over 30k Facebook fans. Goumikids also gives back, donating a portion of its earnings to a worthy cause.
On Shark Tank, Yeo and Fuller sought $1 million for 8% ownership, valuing Goumikids at over $12 million. Kevin O'Leary invested $1 million at 9% interest in exchange for 10% ownership, showing confidence in the brand's potential. With its commitment to sustainability, safety, and social responsibility, Goumikids is poised for further growth in the baby clothing market.
