Season 5 | Episode 503 | EP503
In Season 5, Episode 3 of Shark Tank, Julie Deveau & Ozma Khan approached the Sharks seeking an investment of $50,000 in exchange for 20% equity in ‘Kookn Kap’. The company is based in Los Angeles, California.
The Kookn Kap is a product designed to be worn in the kitchen and resembles a chef’s hat. The Kookn Kap has been designed not only to ensure that hair does not get into the food that is being prepared but also to ensure that whoever is wearing the hat does not end up with ‘smelly hair’ (a problem faced by one of the women that actually lead to the creation of this product).
Julie Deveau & Ozma Khan are professional women working in the financial sector, however their pitch gave off the impression that they were less than well-versed in the world of business. Much of their pitch was delivered in unison and in a very poetic way. However when asked for ‘hard’ sales figures and business-related questions they had difficulty answering correctly. It is therefore unlikely that their pitch presentation had too much of an impact on the decision of the Sharks.
At the time of the pitch the duo had managed to sell 1,729 Kookn’ Kaps over the course of a year. Despite this being a rather high sales figure in comparison to many of the other products that enter the Shark Tank the investors were not happy with it. They believed that the demand for the product would be far too low in the long term for it to be a viable investment for them. They simply believed that most women (and men) would not worry too much about how their hair smelled after cooking because it was likely that they would end up showering shortly afterwards if they were going out.
A number of product flaws were uncovered as well. While neither of the flaws would actually lead to a loss of sales the Sharks believed that they were mistakes of carelessness that should not have happened in the first place. They believed that font used on the cap made it appear as though it read ‘Kookn’ Karp’. They also noticed a misprint on the label which read ‘flammable’ as opposed to ‘non-flammable’.
The Kookn Kap did not receive any offers from the shark investors.
Julie Deveau & Ozma Khan were unable to secure an investment in the Shark Tank and left empty-handed.