Monosuit Net Worth 2024 Update & Their Shark Tank Pitch!

Shark Tank Monosuit, a sustainable one-piece clothing brand founded by Maria Agapkina, telecasted Shark Tank USA in 2023 on Season 15. The founder was seeking $150,000 for 5% equity in their business, but unfortunately, she couldn’t secure a deal with the Sharks. In this article, we will explore Monosuit Net Worth in 2024, its Shark Tank pitch summary, and more.

Monosuit Net Worth

As of July 2024, Monosuit’s net worth was $6 million, and its annual revenue was $245K in 2022. 

Monosuit Net Worth Timeline

Shark Tank Monosuit Update from Season 15 

Entrepreneur Maria began her pitch with a song about her product, Monosuit. In the tank, she introduced Monosuit, which stands out in the crowded fashion industry with its unique jumpsuits that mix futuristic practicality and modern design. Based in New York, this unisex brand focuses on innovation and practicality. Monosuit is a patented design, and it placed emphasis on sustainability in 2019.

Monosuit is famous for its ‘smart’ jumpsuits featuring hidden zippers in the lower back. Their products are almost zero-waste and have a low environmental impact. For making jumpsuits, they also use ECONYL regenerated yarn, which is made from recycled ocean waste.

Additionally, Monosuit does not use animal products in its designs. Its focus is on making long-lasting clothing that is not tied to seasons or trends. Further, Monosuit offers a wide range of sizes, heights, measurements, proportions, and colors. Each piece can be customized to fit the customer’s needs, promoting diversity and inclusivity in fashion.

The company also offers various casual items, including accessories, bottoms, shirts, and dresses, that complement the monosuit.

In the Shark Tank, she shared her mission to clean the oceans and save the Earth. She ended her pitch and asked the Sharks for their support. There, the Sharks were excited and enjoyed the presentation, and Maria showed them different product samples. Then, Maria asked $150,000 for 5% equity, valuing the company at $3 million. 

Robert Herjavec asked about the cost of each piece. Maria said the average jumpsuit sells for $290 and costs $60 to make. She also explained that they made the jumpsuits in North Italy from ocean waste, mostly abandoned fishing nets.

Then, Kevin O’Leary asked about sales at the time. She said they made $245,000 in the past 12 months, with 70% of sales from the Monosuit. Robert asked if they were a jumpsuit company or a fashion line. Maria said she saw it as a technology-based jumpsuit company because they make recycled, tech-enhanced clothes.

Further, Robert asked if they had raised any money. Maria said they raised $2 million from angel investors in 2018.  Then, Kevin asked about the company’s valuation at that time. There, She said it was $12 million. 

Lori then asked how they used the money. Maria explained that they used it to create two different collections using their technology, emphasizing their commitment to zero waste. Mark Cuban said that while he liked the product, he felt Maria needed to do more with her company, so he decided not to invest.

Another Shark, Kevin, advised Maria to focus solely on the jumpsuit, but he chose not to invest and withdrew from the deal. Robert also decided not to invest and agreed with Kevin’s idea. Because Maria’s line seemed too diverse, Barbara also chose not to invest and opted out of the opportunity.

Lori admired the products and praised Maria’s design skills. However, she didn’t believe that investing in the company would benefit her in the way she needed. So, she also decided not to invest and withdrew from the opportunity. Finally, Maria had to leave the Shark Tank without securing a deal.

Summary of the Sharks’ Deal List!

What Happened to Monosuit After Shark Tank?

As of July 2024, the Monosuit is still in business. Monosuit is doing well despite not getting a deal on Shark Tank. Also, as the brand grew, it caught the attention of major celebrities like Kim and Khloe Kardashian, Kylie Jenner, Maye Musk, Grimes, Uma Thurman, Tina Kunakey, and Cindy Bruna, who were all seen wearing Monosuit pieces.  This exposure, along with the show’s publicity, gives her strong marketing support.

Furthermore, Monosuit has grown into an international company with headquarters in New York and a diverse team from Italy, Germany, the UK, and the US. The company has also been featured in prominent magazines like Vanity Fair Italia, Vogue Paris, and Forbes USA. 

Their products are available on their website and platforms like Not Just a Label, About You, and Wolf & Badger. Claiming to be the world’s number one jumpsuit, the New York-based company has thousands of Instagram followers, where they regularly promote their stylish and innovative products. 

Monosuit Founder

Monosuit, a unisex brand from New York, was created in 2018 by Maria Agapkina, also known as Mia Murr. She grew up in a small village in the U.S.S.R. and always dreamed of being a fashion designer. Since she couldn’t afford new clothes, she would make her old clothes into something new to wear. 

Also, Maria loved jumpsuits for their versatility. For jumpsuits, she added hidden zippers in the lower back to make them easier to use. When people on the streets noticed Maria’s innovative jumpsuits and asked where she got them, at that moment, she decided to start a clothing brand. Then, she teamed up with her friend, Elena Skazhenyuk, who became the co-founder and sales and marketing leader. 

They named the brand Monosuit, meaning “one suit.” Starting in Moscow, Russia, in 2013, Monosuit grew in popularity and eventually became a multinational company (it entered the Market in 2018 as a business). This growth led to the expansion of the brand into the United States. 

Maria studied at Central Saint Martins, the British Higher School of Art & Design, and Accademia d’Arte in Florence. She also worked as an Associate Director at EY until 2017. Maria Agapkina’s net worth is unknown as of July 2024.

Monosuit Achievements and Awards

Conclusion

Shark Tank is a TV show showcasing different business ideas, helping them succeed. Monosuit was one of the ventures featured on the show. Despite the loss of 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.

Before you leave, check out the other company updates in Season 15, Episode 04.

• PaddleSmash Net Worth 2024 Update & Their Shark Tank Pitch!
• FairyTail Pet Care Net Worth 2024 Update & Their Shark Tank Pitch!
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