Basic Outfitters, a New York-based online retailer of men’s wear basics, has been selected to be one of the companies on ABC’s television program, “Shark Tank.”
Some 50,000 companies apply to be featured on the program each year, but Laura and Michael Dweck, the husband and wife duo behind Basic Outfitters, were chosen to be part of the group of 80 contestants who will be featured on this season of the show, they said. The Dwecks will appear Jan. 6 at 9 p.m. Eastern Standard Time.
The Dwecks launched Basic Outfitters in November of 2015 shortly after getting married and moving to a small New York apartment. With limited closet space, “Michael’s eclectic and longtime accumulated sock and underwear assortment would have to go and be replaced by a fresh, new and curated collection of basics,” the company said on its web site.
In the past year, Basic Outfitters has experienced a growth rate of around 25 percent a month. Its claim to fame is its “Create-a-Drawer” option, where the company will refill a basics drawer with up to 19 socks, underwear, T-shirts and joggers for $60. Both a basic and a fashion drawer option are offered.
“When we started Basic Outfitters, we knew we were onto something big because we were addressing a real need and creating an incredible solution,” the couple said. “We intend to grow this business tremendously, and we knew that getting onto Shark Tank would fast-track that growth. The number-one comment we got from people who heard about our web site and our Create-a-Drawer service was ‘You guys should go on Shark Tank!’”
The company is not revealing whether the Sharks, which include tough self-made tycoons, opted to invest in the company. Among the judges is Daymond John, the Brooklyn-born founder of Fubu.