Legacy Shave Net Worth 2023 (Shark Tank)

Legacy Shave Net Worth Shark Tank 2023: As of 2023, the net worth of Legacy Shave company is estimated to be around $730,000 USD. Mike Gutow and Dave Gutow founded this company in 2016.

Legacy Shave has developed a special brush that has a built-in nozzle for attaching to a shaving cream can. This innovation aims to provide a smoother shaving experience and address common shaving issues.

Shark Tank Legacy Shave Net Worth 2022-23

Legacy Shave is a grooming and shaving brush company that appeared on Shark Tank America in November 2022 with an estimated net worth of $665,000. During the pitch, founders Mike Gutow and Dave Gutow asked for $300,000 for 10% equity but ended up accepting a deal from Lori Greiner for $700,000 in exchange for 95% equity.

Since appearing on Shark Tank, Legacy Shave has experienced tremendous growth and success. They have generated over $1 million in gross revenue and sold over 100,000 units in five years. As of 2023, their estimated net worth is $730,000 USD.

In the seventh episode of season 14 of Shark Tank, Mike presented his business Legacy Shave as the final pitch. Mike’s presentation received a standing ovation from Shark Mark Cuban, while Kevin O’Leary became emotional during the pitch.

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What is Legacy Shave?

Legacy Shave was an idea that came to brothers Dave and Mike over twenty years ago while they were in college. In 2016, Mike and his brother Dave officially launched Legacy Shave, bringing their patented shave brush to the market.

Legacy Shave provides “The Ultimate Shaving Experience” with its patented shave brush attached to a can of shaving cream. This unique brush lifts and stimulates hair follicles, providing users with a clean, close shave while reducing the amount of shaving cream used, saving them money. The hands-free foam application creates a more elegant shaving experience.

Their innovative invention, the Legacy Shave Brush, combines the old-world technology of the shaving brush with today’s modern shaving cream cans, making it a quick, fun, and convenient way to bring back the vintage shave brush. The brush is perfect for use at home or while traveling and allows users to go straight from the can through the brush to the face or body. It brings back the old-world charm of shaving, reminding us of our grandparents’ age of shaving.

Using a shave brush is the best way to prep your whiskers, and Legacy Shave’s Premium Shaving Cream with Aloe helps heal and replenish moisture in your skin. With Legacy Shave, shaving becomes fun again, and the users can experience “The Ultimate Shaving Experience.”

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Who is the Founder of Legacy Shave Company?

Legacy Shave is a company that was founded by Mike Gutow and his brother Dave Gutow. Mike Gutow, the mastermind behind Legacy Shave, earned his Bachelor of Arts degree in Business from Michigan State University’s Eli Broad College of Business in 1998.

After graduating from university, the brothers teamed up with their father to come up with the concept of the Evolution Shave Brush. However, when they manufactured the first batch of about 3000 units, they realized that the product required manual assembly. On Shark Tank, Mike revealed that they assembled only about 200 units before giving up on the idea. Later, Mike established his own management firm, Gutow Management, and ran the Save Lake St. Clair Organization from 2014 to 2017.

About 17 years after their initial attempt to bring the Evolution Shave Brush to the market, the brothers’ father passed away from cancer. They thought it was time to give up on their idea, but while cleaning the attic, they discovered that their late father had assembled all 3000 units on his own. Touched and encouraged by this act, Mike and Dave revived their plans to start their own company and founded Legacy Shave in 2016.

What Happened with Legacy Shave on Shark Tank?

Legacy Shave Company comes on Season 14, Episode 7 of Shark Tank on November 18th, 2022. During the show, founder Mike Gutow pitched his premium shaving brush business to the Sharks and initially offered $300,000 for a 10% equity stake in the company.

Kevin O’Leary became emotional after hearing about Mike’s father’s death due to cancer. Barbara Corcoran and Mark Cuban dropped out of the negotiations because they could not see themselves investing in the company. However, after all the sharks declined the offer, Lori Greiner stepped in and made an offer of $700,000 for 95% equity in the company, along with a royalty of 3% of net sales in perpetuity.

Legacy Shave Social Handels & Contact Details

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