Married couple Melissa and Rick Hinnant are the founders of Grace and Lace. The company started out selling lace boot socks out of a friend’s basement. They recruited friends to help them sew. After appearing on Shark Tank and getting Barbara Corcoran as a partner, Grace and Lace did $2.3 million in sales in 2013.
[Shark Tank Quiz — Think You Know Your Sharks?]
Grace and Lace has expanded the business to include lots of clothing (tops, shorts), scarves, bathing suit cover-ups, ponchos, and jewelry for women and girls. And business is booming. With their new fortune, the Hinnants continually give back. They’ve build two orphanages in India. One is named The Haley House, in honor of their baby girl who passed away unexpectedly. According to ABC News, the Hinnants are planning to fund three more orphanages.
