A startup wants men to never tuck in their shirts again, and investors think their solution is worth $200 million
It’s a simple idea: a shirt with a shorter hem that is designed to be worn to be untucked.
Untuckit, a startup founded by Aaron Sanandres and Chris Riccobono in 2011 out of an extra bedroom in Riccobono’s Hoboken, NJ apartment with just $US150,000 from friends and family, has turned that concept into a full-fledged clothing company.
Untuckit has been profitable since its second year of business. The company recently secured a $US30 million boost with its first round of funding led by Kleiner Perkins.
The investment puts the company at a more than $US200 million valuation, according to Reuters.
Untuckit has also doubled sales every year since its inception, now offering both signature shorter shirts and a wide range of other clothing categories for both men and women.
The founders are the first to admit they’re not the first to create the shorter shirt. It was a chronic problem among men, they discovered.
Untuckit is, however, the first to market itself with the shorter shirt as their signature, as well as the first to do market research to find out what the best place for a shirt hem to fall is — which took almost exactly a full year. Read more
Dennis Green - Business Insider Australia - 16 June 201720