Entrepreneur seeks investment for innovative apparel company | Shark Tank US
An entrepreneur seeks investment for his innovative apparel company. Collars & Co owner impresses Sharks with profitable shirt business and fast growth, but fails to secure investment. Owner negotiates in Shark Tank, confident in fashion brand's future despite potential challenges.
00:00:00 An entrepreneur seeks investment for his innovative apparel company that offers a comfortable alternative to dress shirts for men.
π Innovative apparel company introduces a comfortable and stylish alternative to wearing a dress shirt under a sweater.
π A new category of shirt is created, allowing men to look stylish and stay comfortable in various professional and casual settings.
πΌ Entrepreneur seeks investment of $300,000 for 4% equity in his company on Shark Tank.
00:01:45 Collars & Co owner impresses Sharks with profitable shirt business and fast growth, but fails to secure investment due to personal preference.
π Collars & Co offers four different collar styles made of stretchy and breathable material.
π° The company has sold 92,000 shirts, generating $5.4 million in sales with a 20% profit margin.
π Collars & Co has achieved the fastest growth to $5 million among shirt companies on Shark Tank.
00:03:28 Owner of Collars & Co rejects offer from Sharks on Shark Tank US, believes company is worth $20 million due to fast growth and need for investments.
π The owner of Collars & Co refuses to back down in negotiations with the Sharks on Shark Tank US.
π° The company's product costs $15 to make and is sold for $65 to $75. The owner receives an offer of $300,000 for 4% equity, but dismisses it, stating that the company is worth $20 million.
π Collars & Co is one of the fastest growing TDC brands in the country, with monthly growth of 28%, and plans to reach $50 million in revenue.
00:05:13 Owner negotiates in Shark Tank, confident in fashion brand's future despite potential challenges. Sharks question market knowledge and offer mentorship. Potential deal falls through due to insufficient funding.
The owner of Collars & Co is seeking a mentor to help grow the brand to the next level.
Fashion trends can rapidly change, but the owner believes the brand won't go out of fashion.
Financial challenges, such as inventory management and lack of capital, pose obstacles to the brand's success.
00:07:00 Collars & Co Owner Stands Firm in Negotiations on Shark Tank US
The owner of Collars & Co refuses to back down in negotiations with the Sharks on Shark Tank US.
He proposes a line of credit and cash offer, but the Sharks are not interested.
Despite the rejection, the owner values his business and is confident in its potential success.
00:08:46 Owner refuses to back down in negotiations with the Sharks on Shark Tank US, arguing for a higher percentage to capitalize on the opportunity.
π The owner of Collars & Co refuses to back down in negotiations with the Sharks on Shark Tank.
πΌ The owner argues that the Sharks are not fully considering the scale of the opportunity and the value they can add.
π° The Sharks reject the owner's offers, leading to a tense discussion and eventual rejection of the deal.
00:10:41 Collars & Co Owner successfully negotiates with the Sharks on Shark Tank US, gaining valuable mentors in Mark Cuban and Peter Jones.
π₯³ The owner of Collars & Co successfully negotiated a deal on Shark Tank.
π₯ Mark Cuban and Peter Jones are now mentors to the owner.
π¦ The owner hopes to sit next to Mark Cuban and Peter Jones in the future.
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