Biodegradable laundry sheet maker in North Carolina secures deal with Shark Tank

On Friday evening, the Mooresville makers of a line of eco-friendly laundry products reached an investment deal on ABC’s “Shark Tank”.

Guest “shark” Daniel Lubetzky said in a video on Twitter that he had just “made a deal with Chris and Chris of the Sheets Laundry Club”.

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Mooresville entrepreneurs Chris Campbell, left, and Chris Videau appear in an episode of “Shark Tank” on November 19, 2021. Christopher Willard ABC

Lubetzky was referring to Chris Videau and Chris Campbell, who, according to the Sheets Laundry Club website, founded the company in 2019.

“The only problem is how I pronounce that word, because it always sounds like something else,” Lubetzky joked in the video.

“But I’m really excited because I’m here to help overcome the problems of micro-plastics in the oceans, and I think this company has great traction… and I’m delighted to support it,” he said. declared.

Lubetzky is a Mexican-American billionaire and philanthropist who founded GENRE Snacks and SOMOS foods.

Videau and Campbell appeared at the start of Friday’s episode.

Videau, CEO of Sheets, explained how the idea for the detergent sheets arose from his military service overseas, including piloting Black Falcon helicopters in Iraq.

“My lungs are really bad,” Videau said. “The lungs were destroyed in Iraq in 2007 and 2008, and that’s sort of where my plastic journey began.

“It was a country torn by war,” he said. “They hadn’t established any type of garbage service. They were burning it, and obviously it all goes up to the sky, and I spent most of the days of the week piloting those skies that contained toxins.

Videau was 33 when he returned from Iraq with “a lot of wheezing and coughing problems,” he told the “sharks”. A doctor told him he had the lungs of a 7-year-old child, Videau said.

He and his wife “decided to tear up the plastic in our house.”

Sheets’ mission, the owners told “sharks”, is also to remove plastic from laundry. The company had around $ 2 million in revenue in 2020, the year it was launched to the public, they said. They forecast sales of $ 7 million this year with a 24% profit margin, they said.

Sheets makes biodegradable detergent sheets that dissolve when they wash your clothes in the washing machine. The leaves are made with herbal ingredients and include “no optical brighteners or dyesAccording to SheetsLaundryClub.com.

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Chris Videau, right, and Chris Campbell, co-founders of the Mooresville-based Sheets Laundry Club, entered into an investment deal on ABC’s “Shark Tank” on Friday, November 19, 2021. Christopher Willard ABC

Exclusive agreement

Videau and Campbell also revealed to the Sharks that they have signed an exclusivity deal until October 2024 with the consumer goods giant. Kimberly-Clark Corp., which they claim holds the patent on the soluble laundry detergent sheets. This is also when the patent expires, they said – news that has put some of the sharks off.

While Shark Barbara Corcoran praised the founders, she said their sales pitch failed her.

“Clever!” she posted on Twitter. “I like a clear and easy demo.”

In another Twitter post, Corcoran said, “Great entrepreneurs are salespeople at heart. You have to walk and talk to talk! “

The show also posted a quote from her on Twitter that read, “You’re not persuasive, I’m sorry.”

Videau and Campbell, CEOs of investment firm Capital Management Investments, however, easily convinced Lubetzky and many viewers, including a New York mom whose praise on Twitter was retweeted by the show.

“I like this @sheetslaundry business, ”the woman posted. “And I’m the one doing the laundry at my house.” “

Sheets has expanded its offering to include wash-in scent boosters, softening dryer sheets, floor cleaner sheets, soaps and EcoBoost Stain Fighter bleach sachets, according to the company’s website.

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Daniel Lubetzky, Executive Chairman of KIND, interviews Mooresville entrepreneurs Chris Campbell and Chris Videau during an episode of ABC’s “Shark Tank” airing November 19, 2021. Christopher Willard ABC

When Lubetzky asked for 10% equity for $ 500,000 during the show. Videau and Campbell offered 8% equity. Lubetzky then offered 8% shares and 2% board shares, which the owners agreed to.

“The @sheetslaundry the products smell good, are better for our planet and are effective, ”Lubetzky tweeted. “What a great example to avoid false compromises and offer multiple benefits to your consumer. “

Sheets Laundry Club posted its reaction to the deal on Twitter with a group photo of the smiling staff and their families.

“Everyone at Sheets is thrilled to be partnering with @DanielLubetzky and help turn the tide on plastics! The company posted.

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Joe Marusak has been a reporter for The Charlotte Observer since 1989, covering the region’s population, municipalities and major current events, and was the editor of the newspaper’s press office. He is currently reporting the latest news.



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Virginia C. Taylor