Next into the tank are Alex Hanson and Hunter Molzen of Barbell Apparel, seeking $500,000 for five percent equity.
Barbell Apparel offers athletic fit denim, tailored for athletic builds with advanced tech fabrics and 360-degree movement. They offer denim pants, khakis, chino pants, T-shirts and more. According to their website, their clothing “will accommodate any body type. Even if your legs aren’t particularly muscular, Barbell Denim will still look amazing on you and feel even more amazing as you move in them. Our hybrid denim stretches both ways so that it can compliment smaller legs, while still easily stretching to accommodate larger legs as well.” Their jeans range from $134 to $149.
This year, they are expected to do $2.3 million in revenue. Getting their start through a Kickstarter campaign, they raised more than $700,000. They are looking for a shark to help them “over their inventory hurdles.”
Robert Herjavec thinks it’s a difficult problem to solve under their valuation, while Daymond John doesn’t want to get into denim fashion. John goes out. Mark Cuban thinks there’s too high a barrier to entry and goes out as well. Lori Greiner acknowledges that the industry is difficult and that they managed to create something new, but goes out.
Herjavec is concerned by the inventory problem and goes out, as does Kevin O’Leary, who acknowledges the same problems the other sharks pointed out with the money issues.
Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging business to six multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group. Venture capitalist Chris Sacca is also slated to appear as a guest shark this season.
“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $87 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Friday at 9 p.m. on ABC.
Social Media Reacts to Barbell Apparel’s Appearance on “Shark Tank”:
— Kerry T Crane (@CraneKerry) November 19, 2016
— Elizabeth (@LizakaNinja) November 19, 2016
sometimes it all comes down to the valuation no matter how good the company is – do your math !! #sharktank
— Robert Herjavec (@robertherjavec) November 19, 2016
I’m impressed with what these entrepreneurs have done, but I see a big problem with inventory. Just too big of a risk. #SharkTank
— Lori Greiner (@LoriGreiner) November 19, 2016
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