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For the first time in the 12-year history of “Shark Tank”, a black woman sits in one of the investment chairs.
Emma Grede, the 39-year-old woman co-founder and CEO of denim brand Good American and founding partner of Kim Kardashian’s shapewear clothing line SKIMS, is expected to guest appear as Shark at the season 13 premiere of the ABC commercial reality show . Grede, the series’ first-ever black female investor, will join Sharks Mark Cuban, Barbara Corcoran, Kevin O’Leary and Lori Greiner.
On the show, Grede told ABC News Thursday that she looks for two main qualities in an entrepreneur when deciding to make an investment: passion and enthusiasm.
“I respect the commotion,” Grede said. “But the commotion comes from a lot of different places.”
Grede’s own path, she said, is proof of that. At 24, after working for a fashion show event production company, Grede took the plunge and started her own marketing agency, ITB Worldwide. She credited her ability to land clients like Kris Jenner and Natalie Portman to his confidence and courage, whether they were won back then or not.
“I think everything I didn’t know led me to a place where I had this naivety,” Grede said. “I didn’t know what could go wrong. And so in a way, I settled for things that, right now, would just seem scary or silly.”
Her connection with Jenner helped Good American take off: When Grede came up with the idea for a denim line that included waistline, she identified Khloé Kardashian as her ideal business partner. Jenner facilitated an introduction, and on Good American launch day in 2016, the company generated $ 1 million in revenue, according to Glamor UK.
“Success breeds success,” Grede told ABC News.
On “Shark Tank,” however, Grede said she wouldn’t necessarily look for entrepreneurs who “mirror” her own success.
“It’s a lot more about supporting women, black women, the founders of color,” she said. “We all know the statistics. Investment and fundraising is low for certain groups, especially women. And so for me, that was really my goal.”
Appearing on the show, she said, feels like a loop moment: Not so long ago, Grede was trying to convince others of her passion and hustle and bustle.
“For me it was literally a dream come true to be on the panel,” she said.
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