Environmental consciousness has become a trend these days. But being aware and conscious of our actions isn’t enough for planet earth. There needs to be some serious initiative taken to erase the already lying pollution.
A similar thought had crossed the mind of Mike Lamanga once he was back in treading the waters after his layoff from a renowned company. Mike found himself picking up more trash than the useful sea creatures they were hunting for. With the trash going to waste again, Mike decided to turn it around and create something meaningful out of it. That’s where the idea of Long Wharf Supply Co. hit Mike, who was joined by Lauren Lamanga, his sister.
Long Wharf Supply Co. is the manufacturer of high-end sweaters using 50% of the plastics and oyster shells that were found lying and polluting the sea. The other half of the sweaters have lamb’s wool, nylon, and botanical viscose, making the product clean and breathable. The quality of the sweaters is evident in the looks and feels of the product.
The sibling duo was now on Shark Tank, asking for an investment of $375K in exchange for a 15% stake in their company. The company had managed to make $495K in the first 12 months since its launch. Though the sharks were impressed by the softness of the sample sweaters they were provided, the numbers failed to do their job, especially since the valuation of their company was incredibly high.
Kevin was the first one to announce he was out as the valuation of the company didn’t make sense to him. Daymond related to the idea of saving the environment using clothing made from trash materials and even narrated a heart-warming story of his daughter being passionate for the cause; he announced he was out because he didn’t want to suffer financially. The remaining sharks were Mark, Lori, and the guest shark, Peter.
Mark didn’t like the idea of selling sweaters as the product was high-end and wasn’t easily accessible for the masses nor profitable in the longer run. He was curious to know whether the company could manufacture t-shirts, to which Mike answered that he could make the sweaters work. That wasn’t the answer Mark wanted, and he was out.
Lori announced she was out soon after as she supported Mark’s vision for the company and was disappointed when the duo failed to see that. Peter first got Lauren a 10% share in the company as she was also managing the business while being at a full-time job elsewhere. Peter promised to make Long Wharf Supply Co. global within a month and penetrate the localized markets of Asian countries, but he demanded a 40% stake in the company.
The duo appreciated the offer but decided to keep the business in the family. They refused the offer and returned home empty-handed.
Our Review of Long Wharf Supply Co.
Soon after the Shark Tank episode aired, Long Wharf Supply Co. was able to see a major surge in sales. The Shark Tank Effect kicked in, and people started supporting the vision of the sibling duo. Long Wharf Supply Co. also got a trademark called Sea Well that represented all the items that had recycled trash in them.
The company also introduced numerous small products, such as wallets, beanies, etc., which are usually mid-range and affordable for the customers. Despite being a high-end product, Long Wharf Supply Co.’s breathable sweaters are well-received and make the company the profit they hoped for.
As of 2022, Long Wharf Supply Co. has a net worth of 5 million dollars. The business is doing well to sustain itself in the competitive clothing market and looks promising in terms of growth.
Pros of Long Wharf Supply Co.
Long Wharf Supply Co. has managed to gain a lot of traction while also succeeding in getting a loyal customer base. Here are some things that customers of Long Wharf Supply Co. love about the business:
- Long Wharf Supply Co.’s sweaters are breathable yet warm for severe weather
- Long Wharf Supply Co. is designed for both men and women
- The fit of the sweaters gives a tailored look to the garment
- Long Wharf Supply Co.’s small products are relatively affordable
- The quality of the Long Wharf Supply Co. goods speaks for the business with a rich feeling attached to it
- Long Wharf Supply Co. is highly applauded for its initiative to solve the environmental problem, especially relating to the often overlooked marine life destruction
- Long Wharf Supply Co. sweaters have plant-based viscose in them, which is a much-appreciated trait of the product
- Customers are delighted with the fast delivery service of the products
- Customers are also a big fan of the overall customer service of the company
- Their social presence and engagement are well-loved by the customers
Cons of Long Wharf Supply Co.
Despite having some loyal customers to its side, there are some aspects that Long Wharf Supply Co. can improve on:
- Long Wharf Supply Co. sweaters aren’t affordable for the general masses, especially those who want to contribute to the environment
- Sometimes the business has been quite slow on deliveries
- For some customers, Long Wharf Supply Co.’s presence at a brick-and-mortar store would make a difference in terms of accessibility
Who Is Long Wharf Supply Co. For?
Long Wharf Supply Co. is for all those environmentally conscious people who want to support a cause while looking stylish doing so. Their high-end luxury products attract customers who are into such products. The feel of the fabric ensures that people who appreciate quality can easily get their hands on the premium products.
Are There Any Alternatives?
While no other business in the fashion industry has managed to manufacture clothing items using plastics and oyster shells, Reformation is a California-based clothing business that produces garments from regenerative fabrics. The business is known for producing women’s apparel, including denim, activewear, and even bridal wear, amongst other clothes. Their footwear collection is also made from sustainable materials and is well-loved by the customers.
Our Final Thoughts
Long Wharf Supply Co., despite the rejection from the sharks, has managed to do well thanks to the support of loyal customers and environmentally conscious people who want to contribute to the cause. The business’s high-end products are selling well, along with small, mid-range products that also bring the masses towards the business. Overall the business will continue to see growth in the upcoming years owing to the dedication of the owners and the support of the customers.