Collars & Co.: What Happened To The Menswear Company After Shark Tank

Summary Collars & Co. struck a deal with Mark Cuban & Peter Jones on Shark Tank, securing $300,000 for 10% equity and a $700,000 line of credit.

The company witnessed a 300% surge in web traffic and doubled their sales post-Shark Tank appearance, showcasing the "Shark Tank effect."

Mark Cuban and Peter Jones remain involved, providing strategic advice to Collars & Co., which now boasts over 200,000 customers.

Collars & Co. was pitched on Shark Tank in 2022, and it has become a resounding success in the time since. The critically acclaimed reality TV show is a cornerstone for aspiring entrepreneurs hoping to get their breakthroughs by presenting their business ideas to a group of seasoned investors. Shark Tank contestants must follow strict rules, but in this high-stakes environment, businesses not only gain financial backing but also invaluable mentorship and exposure, which can drastically change their growth trajectories.

One such business that stepped into the Shark Tank arena was Collars & Co., a company that sought to innovate the men’s dress shirt market. Collars & Co. is a distinctive menswear company founded by Justin Baer in 2021, specializing in dress-collared polo shirts — a hybrid designed to offer the comfort of a polo with the formal appearance of a dress shirt. The idea came from Baer's desire to create a more comfortable yet professional alternative to traditional stiff-collared shirts. This innovation caught the eye of viewers and investors alike when Baer appeared on season 14, episode 6 of Shark Tank.

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Collars & Co. Made A Deal With Mark Cuban & Peter Jones On Shark Tank

Cuban & Jones Offered $300,000 For 10% Equity With An Additional $700,000 Line Of Credit

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During his pitch, Baer sought $300,000 in exchange for 4% equity in Collars & Co. His valuation was initially met with skepticism, particularly from Sharks Daymond John and Lori Greiner. However, the uniqueness of the product intrigued Peter Jones and Kevin O'Leary, leading to a spirited discussion among the investors. Ultimately, it was the duo of the best regular Shark Mark Cuban and Jones who saw significant potential in Baer's concept. They offered $300,000 for 10% equity, coupled with an additional $700,000 line of credit, making their offer the most appealing to Baer.

Their combined expertise in business growth and strategic development, along with their financial support, promised a bright future for Collars & Co.

Combined with the line of credit, it's a very expensive Shark Tank offer. The decision to accept Cuban and Jones' offer was pivotal; their combined expertise in business growth and strategic development, along with their financial support, promised a bright future for Collars & Co. This segment highlighted the critical aspects of venture capital negotiations, such as equity stakes, company valuation, and the strategic alignment between entrepreneurs and their potential investors. Following the deal Baer made on Shark Tank, Collars & Co. has gone from one win to another.

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Collars & Co Doubled Their Sales After Shark Tank

The Company Witnessed A 300% Surge In Traffic Too

While not every deal made on Shark Tank is a guaranteed win, Collars & Co. is one of the biggest success stories the show has had in the 2020s. Not only did Collars & Co. make a lucrative deal with Cuban and Jones, but simply appearing on Shark Tank with a tantalizing business saw its sales skyrocket. Post-show, the company experienced a meteoric rise in its online presence, witnessing a 300% surge in website traffic (via MR Mag). More impressively, this heightened visibility translated into tangible financial success, with the company reporting a doubling of its sales.

The Collars & Co. website prominently features Mark Cuban and Peter Jones.

This growth is a testament to the "Shark Tank effect," where businesses receive not only financial backing but also a significant boost in consumer interest and market visibility after appearing on the show. Justin Baer has expressed immense satisfaction with the partnership, noting the accessibility and responsiveness of Cuban and Jones. Baer revealed:

Mark and Peter have been awesome. They are in touch and always extremely responsive. I’ve gone back and forth with Mark on email some nights until 1:00 am.

Currently, Collars & Co. continues to thrive under the guidance of Mark Cuban and Peter Jones, with the company having over 200,000 customers (via Collars & Co.). Both Shark Tank investors remain actively involved in the company, providing strategic advice and leveraging their networks to further the brand’s reach and operational efficiency. Their involvement has been crucial in Baer's navigating the competitive apparel industry and scaling the business effectively.

Sources: MR Mag, Collars & Co.