Final Deal: $250,000 for 25% equityĪfter the episode aired, there was a sales surge for Buttercloth. Danh was so excited he jumped up and down several times with glee. Danh thought for a moment, and then accepted Robert’s offer. There was just too much of a risk and he had originally planned to ask for 35%. He wanted 25%.ĭanh tried to counter with 20%, but Robert wouldn’t budge. Unfortunately, he wasn’t willing to invest for only 10%. He admitted he knows a lot about the fashion space and that he knows people who could work with Danh to help him perform better online. That left Robert as the last shark remaining. And Charles’ take was that the fashion business was too cutthroat, and he was not willing to put up any money. She didn’t think it was fair to get involved with another fashion company, so she dropped out. Lori had already started working in fashion, trying to develop a line of clothing that she could wear and market on the show. He felt they definitely needed to focus on advertising rather than on the product at this point. Mark was also focused on customer acquisition costs and wondered why they were budgeting more money for inventory than for marketing. Kevin then said they needed to hire a company to reduce their customer acquisition costs. Gary said that two-thirds would be devoted to inventory and one-third for additional marketing. But Robert continued questioning Danh and asked him what they would do with the money they’re asking for. Gary revealed it was $40 per customer, and it was clear that Kevin and Robert thought that was too high. Kevin wondered what was the cost of customer acquisition. And that’s when Robert asked how much money they had spent running the company.ĭanh admitted that he invested $240,000 of his own money, and had quit his job, sold his house, and cashed out his 401K. Gary spoke up and said they were on Facebook and Instagram. He wanted to know how the company was reaching the public. Mark asked what the shirts cost to make, and Danh told him around $20-$25.Ĭharles asked how many had already sold, and Danh told him they had earned $500,000 in sales over a period of seven months. That degree led to other jobs as a designer, including one as head designer at Affliction Clothing, where he worked for ten years.Ĭharles Barkley asked the first questions about the shirts: What was the retail cost and where was it being sold? Danh replied that the shirts retailed between $98 and $118, and all sales were made online. After working there for five years and saving his money, he was able to attend fashion school and earn a BA in Fashion Design. Instead, he started working for Mattel, where he designed clothes for Barbie dolls. He came to America and intended to apply to Otis College of Arts & Design, but the tuition was $120,000, which was too steep for him. But Danh didn’t want to give up his dream of becoming an American fashion designer. She preferred that he become a doctor or a lawyer. As a 10-year-old boy, Danh began making his own clothes, but his mother warned him not to pursue a “poor career” in fashion. Gary explained how he had met Danh through his friend, and then Danh told his story.ĭanh had grown up in Vietnam, where his parents were tailors. Metta, who has a college background in math, had been interested in marketing products and was so impressed with Buttercloth that he was motivated to get on board. Kevin remarked that the three of them were quite an eclectic group, and wanted to know how they got together. All of the sharks said that they felt nice and soft. Metta then passed samples of the shirts to the sharks so they could touch and feel the fabric. He talked about the fabric’s 6-way stretch and breathability, and then easily dunked a ball through a basketball net on stage. Their scientist turned out to be a former NBA player, Metta World Peace, wearing a white lab coat over a Buttercloth shirt. Gary told the sharks that the shirts were made of 100%, sustainable, long-fiber cotton, but both Gary and Danh wanted to bring out their “scientist” to explain more. His Buttercloth shirts, in contrast, “Make you feel like you’re wearing your favorite t-shirt, but make you look like you’re fully employed.” The sharks liked that line. ![]() They began their pitch with Danh telling the group that he always hated dress shirts because they’re usually stiff and scratchy. Buttercloth Shirts On Shark Tankĭanh approached the stage with one of his advisers, Gary Falkenberg (who’s a friend of Buttercloth’s COO). He’ll ask the sharks for $250,000 in exchange for 10% of the company he calls Buttercloth Shirts. He’s developed a line of dress shirts that are ultra-comfortable but still look sharp and presentable. Since he was a young boy, he had a passion for fashion design and has spent his life’s savings working toward that dream. Shark Who Took The Bait: Robert Herjavecĭanh Tran was born in Vietnam but now lives in Long Beach California.
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