Legacy Shave is a Michigan-based company that created the Evolution Brush. It is an accessory that you can use with any kind of shaving gel or cream. It reduces shaving cream waste. Over twenty years ago, Mike Gutow and his brother Dave Gutow came up with this idea when they were in college. However, they founded the company in 2016.
Mike Gutow and his brother Dave Gutow are the founding fathers of Legacy Shave. The company has an estimated net worth of $730,000 by 2024.
Company Profile
| Company Name | Legacy Shave |
| Founder | Mike Gutow and Dave Gutow |
| Founded In | 2016 |
| Product | Shaving Cream Brush |
| Headquarters | Royal Oak, Michigan, United States |
| Shark Tank Episode | Season 14 Episode 7 |
| Asked For | $300K for a 10% equity |
| Final Deal | $700K + 3% of net sales in perpetuity for 95% of the company’s revenue |
| Shark | Lori Greiner |
| Shark Tank Air Date | Nov 18, 2022 |
| Business Status | In business |
| Website | Visit Website |
| Instagram Profile | Legacy Shave |
| Amazon | Buy Now |
History and Background of Legacy Shave
Over two decades ago, two brothers Mike and Dave came up with the idea of a shaving cream brush when they were in college. With the help of their father, they discovered a working archetype that had a primal design but it worked. This led to the manufacturing of 3000 unassembled units.
With time, they always brought up the question, “Is this the true time for launching our product”? After a few years, they met with a patent attorney and decided to redesign their shave brush and turned it into today’s sexy and sleek version.
Founders of Legacy Shave
Mike Gutow and Dave Gutow are the founders of Legacy Shave. They started their company in 2016.
Mike Gutow
Mike Gutow, who belongs to Michigan State is the owner of Legacy Shave.
Dave Gutow
Dave Gutow is the co-founder of Legacy Shave who has started a company with his brother Mike Gutow.
All You Want to Know About Legacy Shave Brush
Legacy Shave brush provides the conclusive shaving experience of the cleanest shave with hair cavity protection. It is easier to apply on the face and also reduces the wastage of shaving cream.
In today’s busy lifestyles, it’s very difficult to care for ourselves. So, Legacy Shave has created a unique, quick, and more convenient way of shaving. It has ingredients like Aqua, Isobutane, Triethanolamine, Palmitic acid, Stearic acid, and Sodium Lauryl Sulfate which protects the skin after shaving.
Legacy Shave’s Shark Tank Appearance
Mike Gutow appeared on Shark Tank season 14 episode 7 after his product launch.
Shark Tank Pitch of Legacy Shave
Mike Gutow’s business Legacy Shave was the last pitch on Shark Tank season 14 episode 7. In his pitch, he described how they invented shaving cream brushes with the help of their father. Due to his excellent presentation, Shark Mark Cuban gave a standing ovation to Mike. None of the Sharks offered a deal to him except Lori Greiner. She offered a deal of $700,000 for 95% equity.
Legacy Shave After Shark Tank
After Shark Tank, Lori brought out 95% of the equity by paying $700k to Mike. Their business has been running for 5 years but it has sold a total of $1 million.
Mike made a personal investment of $400,000 in his business. Lori tried to expand his business as a marketing expert. After that, a large number of products were sold out in just 1 week.
The company sold 2500 units and also made 800 new customers after Shark Tank.
Legacy Shave Shark Tank Update
Mike Gutow pitched very well on Shark Tank and told his story to the Sharks. Kevin O’Leary became very emotional after hearing him. Many people purchased their product after Shark Tank and each had good feedback.
Legacy Shave Net Worth
Legacy Shave appeared on Shark Tank in November 2022. It had an estimated net worth of $665,000 at the time of the shark tank pitch. Legacy Shave has produced more than $1 million in gross revenue over five years by selling more than 100,000 units over that time. The company also has secured extra funding which leads to an estimated net worth of $730k USD as of 2024.
Final Words
Legacy Shave is a modern shaving brush brand, that enhances the shaving experience of people by creating a convenient way of shaving without any wastage of cream in the jar. It’s a reliable product for shaving as well as for better skin care after shaving.
FAQs
What is Legacy Shave?
Legacy Shave is a shaving brush company. It produced a modern way of shaving without wasting cream.
What is Legacy Shave Valuation?
At the Shark Tank Season 14 Episode 7, Lori offered a deal of $700,000 for 95% equity.
Who is the Founder of Legacy Shave?
Mike Gutow and Dave Gutow are the founders of Legacy Shave.
How much is Legacy Shave seeking at Shark Tank?
Mike Gutow appeared on Shark Tank and asked for $300,000 for a 10% stake at a $3 million valuation.
Did they have a deal at Shark Tank?
Yes, they have a deal at Shark Tank.
How is Legacy Shave Doing?
Legacy Shave is doing very well. It had produced more than $1 million in gross revenue over five years.
Is Legacy Shave still in business?
Yes, Legacy Shave is still in business. Their product is available on Amazon.
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