Modern Picnic, A fashionable lunch box brand founded by Ali Kaminetsky, aired on the 15th season of Shark Tank USA in 2024. The founder was seeking $400,000 for 6.5% equity, valuing the company at $6.15 million. Unfortunately, she couldn’t secure a deal with any of the Sharks. In this article, we will explore Modern Picnic’s net worth in 2024, details of the Shark Tank pitch, and more.
Modern Picnic Net Worth 2024 & Financial Overview
After the show aired, the company experienced significant sales, with an estimated growth rate of 10% per year. Based on the company’s growth rate and founder’s company valuation before the Shark Tank show, Modern Picnic’s net worth is estimated at $6 million in 2024.
Annual Sales Revenue | $2 million (2024) |
Profits | Not Available |
Lifetime sales | $6 million (When filming) |
Shark Tank Modern Picnic Pitch
Ali Kaminetsky appeared on the show to introduce her business idea. She asked for $400,000 in exchange for equity, valuing her company at $6.5 million. Ali shared her experience as a young professional there, explaining how she went to work daily and gave her best effort.
However, she often felt dissatisfied when it came to lunch. Carrying food in outdated or unfashionable lunch boxes felt unprofessional to her. Plastic bags were not an option either, as they are neither sustainable nor stylish.
To solve this problem, Ali designed a modern, fashionable alternative, which is insulated vegan leather lunch boxes. These lunch bags, called Modern Picnic, cater stylish ways to carry daily workers’ meals.
Modern Picnic’s lunch boxes combine function and style. They feature insulated interiors that make cleaning up after spills easy. By choosing these reusable lunch bags, you can reduce your reliance on plastic and paper, helping the environment while elevating your style.
After Ali finished her pitch, she showed the sharks a product sample. She explained that she came up with the idea at 22 and spent two years turning it into a business. During the discussion, Robert asked about the product’s cost. Ali responded that the price range is $159, and the profit margin is between 30% and 35%.
Ali shared more details about her business with the sharks. She mentioned that 70% of her sales come from e-commerce, while 20% are from wholesale orders. She proudly added that her products are available at Saks and The Container Store, and she recently received a vendor number for Bloomingdale’s.
Kevin then asked more about the business performance. Ali explained that the company started in 2018 and has achieved nearly $6 million in total sales. However, they expect to lose less than $100,000 this year. Mark questioned why the business wasn’t profitable there and for the response she pointed out the high spending.
Also, Ali admitted that they rely heavily on social media ads, which account for 25% of their revenue. When guest shark Emma asked about the overall marketing expenses, Ali revealed it was around 50%. Hearing these numbers, the sharks realized the company was spending too much on acquiring customers.
Ali also shared her efforts to fund her business, revealing that she had cold-called over 1,500 investors and raised $900,000. Later, she held a seed round and has secured another $900,000 in funding.
However, Kevin O’Leary chose not to invest despite her efforts, as he lacked interest in fashion-related businesses. Mark Cuban then advised Ali to believe more in her product and reduce spending on advertising, but ultimately he opted out of the deal as well. Robert Herjavec praised Ali’s presentation but felt the financial numbers didn’t make sense, so he also declined the deal.
Lori Greiner believed Ali had quickly raised too much funding, and decided not to invest. Finally, guest shark Emma Grede encouraged Ali to reduce advertising costs. While she expressed interest in being a customer, she didn’t offer an investment. Finally, without receiving any offers, Ali left Shark Tank without a deal.
Company Name | Modern Picnic |
Founder | Ali Kaminetsky |
Business | A fashionable lunch box brand |
Episode | Season 15, Episode 13 |
Asked Deal | $400,000 for 6.5% equity |
Final Deal | No deal |
Sharks | No Sharks |
Summary of the Sharks’ Deal
Shark | Offer | Counteroffer |
Mark Cuban | No | N/A |
Kevin O’Leary | No | N/A |
Lori Grinear | No | N/A |
Robert Herjavec | No | N/A |
Emma Grede | No | N/A |
What Happened to Modern Picnic after Shark Tank?
As of December 2024, the Modern Picnic is still in business. After the episode aired, Modern Picnic saw a significant boost in sales, a common outcome for companies that the show features. Now that the show has given her brand more visibility, she can focus on increasing profits without overspending on marketing. The advice from the sharks about cutting back on advertising could prove valuable.
Modern Picnic has expanded its product range, offering stylish and practical lunch accessories. Their collection now includes The Large Luncher, designed for extra space, and options like totes, backpacks, and pouches. The brand’s fresh take on lunch essentials has attracted attention from major publications such as Forbes, Vogue, and Harper’s Bazaar. Their appearance on Shark Tank gave them even greater exposure, helping them reach a wider audience and establish themselves as leaders in the industry.
With her lunch bag’s high-quality designs and functionality, Ali seems well-positioned for success. You can explore their full range of products at ModernPicnic.com or shop on their Amazon store. One of their top-rated items, The Luncher, holds a 4.8-star rating based on 265 reviews.
The signature Launcher comes in nine colors and costs $159. It can be paired with a matching food container for $20. For more storage, The Larger Luncher is available for $189. The Tote, a luxurious choice, is priced at $250 and includes a complimentary pouch.
Compact options like The Snacker and The Pouch are priced at $59 and $79, respectively. For versatility, the Backpack, featuring a padded laptop sleeve, is perfect for work and is priced at $210. Modern Picnic also offers unique collections like the Wicker Collection, Kids Collection, and Pets Collection, catering to various lifestyles. Customers can personalize their products with monogramming.
Modern Picnic Founder
Ali Kaminetsky is the founder of Modern Picnic, which started in 2018. After graduating from Lehigh University in 2016, Ali Kaminetsky moved to New York and joined Macy’s, diving into the world of retail. She brought lunch to work daily to save money and stay healthy but disliked the lack of stylish and sustainable lunch box options. She saw that most available products were designed for men or children, and there was a gap in the market.
In 2018 Ali solved this problem by creating a prototype for Modern Picnic’sPicnic’s first bag. Developing a unique product came with challenges, but she successfully brought her idea to life. Within a year, she sold vegan leather lunch boxes directly to customers. Ali Kaminetsky’s net worth is unknown as of 2024.
Modern Picnic Achievements and Awards
Year | Achievements and Awards |
2022 | Ali Kaminetsky received a nomination for the Young Jewish Professionals (YJP) 40 Under 40 Award, recognizing her achievements in business |
2024 | The company was appeared on Shark Tank Season 15 |
Conclusion
Shark Tank is a TV show showcasing different business ideas, helping them succeed. The show featured Modern Picnic as one of the ventures. Despite losing the deal, the company showed that success is possible with the right idea and execution. Now, we eagerly await to see how their success story unfolds in the future.