Baobab Shark Tank Update | Baobab Net Worth

Baobab is a clothing company specializing in high-quality polo shirts and is featured on Season 11 of Shark Tank. Inspired by the legendary Baobab tree known for its longevity and nourishment, founders Brandon Davenport and Marcellus Alexander III conceived the idea of creating a line of polo shirts that would mirror these attributes. 

Baobab’s polo shirts boast superior durability and wearability, just as the Baobab tree withstands the test of time. The shirts are touted for their long-lasting quality; they do not shrink, stain, or fade.

Crafted with antimicrobial properties, they can be worn multiple times without washing. A feature is their collar design which maintains its shape and doesn’t crumple, ensuring that the polo shirts retain their fresh look even after extended wear. 

These shirts also feature a microfiber cloth woven into the hems of each shirt, which can be used to clean glasses or screens of electronic devices. Baobab shirts are available in various colors, such as blue, black, grey, and white, and come in short or long-sleeve versions, costing $88 and $98, respectively.

Baobab has since proven itself in the market despite the founders not securing a deal during their appearance on Shark Tank. It expanded its range to include face masks during the 2020 pandemic and continued to see growth in sales.

The company was generating annual revenues of between $900,000 and $1 million, demonstrating the acceptance and success of the brand.

Baobab offers a premium product that prioritizes quality, longevity, and practicality. If you value these features and are willing to invest in a shirt that promises durability and comfort, Baobab’s polo shirts might be an excellent choice.

What Is Baobab?

Baobab is a brand that offers a collection of everyday shirts, including polos and t-shirts. Their shirts are designed to be versatile and suitable for various occasions. Baobab uses sustainable materials and proprietary fabric treatments to create durable and high-quality garments. 

Their polos feature features such as a Stay Flat No-Curl collar, which eliminates the problem of collar curling. Baobab also offers other products like gift cards and face masks. The brand is known for its commitment to quality, sustainability, and style.

Baobab specializes in creating high-quality everyday shirts for men. They are particularly known for their Perfect Polo shirts, designed to be versatile and suitable for any occasion. The Perfect Polo shirts are available in short-sleeve and long-sleeve options and come in various colors.

Using sustainable materials is a key feature of Baobab’s Perfect Polo shirts. The brand is committed to responsibly sourcing materials and ensuring its production processes have a minimal environmental impact.

Baobab’s shirts are also treated with proprietary fabric treatments that make them resistant to shrinking, fading, odors, and wrinkles. This ensures that the shirts maintain quality and appearance even after multiple washes.

In addition, Baobab pays attention to the small details that make their shirts stand out. For example, their patent-pending Stay Flat No-Curl collar prevents the collar from curling, ensuring a neat and polished look.

Besides polos, Baobab offers other products like t-shirts, gift cards, and face masks. They strive to provide customers with high-quality clothing and a seamless shopping experience. 

Baobab aims to provide customers with an enjoyable shopping experience through fast delivery and excellent customer support. Baobab is a brand that combines style, sustainability, and quality craftsmanship to create the perfect everyday shirts for men.

Who Is The Founder Of Baobab?

Baobab was founded by two close friends, Marcellus Alexander III, and Brandon Davenport, in 2016. They conceived the idea of starting their clothing brand after experiencing disappointment with the quality of the high-priced clothes they had purchased, which didn’t last long.

They were driven by a mission to deliver high-end, sustainable clothing to the consumer that offered value for money and exceptional durability.

Marcellus Alexander III comes from a background in business management, having worked with various companies, including Travelzoo and Hearst before he decided to focus on his clothing brand.

In addition to his role at Baobab, he joined Colgate-Palmolive working on Remote Selling and Digital Capabilities.

On the other hand, Brandon Davenport is an expert in marketing and finance. He has studied finance at Morgan State University and worked in several companies, including PwC and HyperActive Thinking, gaining valuable experience. Davenport joined Shopify as the Head of Equitable Commerce.

The founders launched Baobab Polo Shirt as their flagship product to provide superior quality clothing at a premium price.

They embarked on crowdfunding campaigns on Kickstarter and Indiegogo, successfully raising $26,483 and $31,182, respectively, demonstrating initial public support for their idea.

Before their appearance on Shark Tank, the duo had achieved gross revenue of $85,000, primarily from online sales and social media marketing, especially through Facebook ads.

Baobab’s premium polo shirts, retailing at $98, were made primarily from sustainable “Pima Cotton” sourced from Peru and featured nanotechnology in their design.

Despite the brand’s commitment to quality and sustainability, the founders struggled with breaking into a market crowded with established brands.

However, their perseverance and commitment to their vision enabled them to keep Baobab in business and continue to build on their initial success.

Therefore, their journey before Shark Tank was characterized by creativity, determination, and an unwavering belief in their product’s superior quality and sustainability.

How Was The Shark Tank Pitch Of Baobab?

Marcellus Alexander III and Brandon Davenport, the founders of Baobab, entered Shark Tank seeking $150,000 for 10% equity in their clothing company, which specialized in stain and fade-resistant polo shirts. They were valuing Baobab at $1.5 million.

They believed they had created the perfect polo shirt, combining a proprietary treatment process with high-quality Pima cotton to address common problems like fading, shrinking, and “bacon collar,” a term that describes a curled and misshapen collar on shirts.

Their presentation was thorough and demonstrative; they showcased their BaoTech fabrication process by splashing a white polo with various staining substances such as coffee, wine, and ketchup, all rinsing away without leaving any stains or residue.

The demonstration was well received, with the sharks enjoying the product.

However, the tide began to turn when the duo revealed their company’s valuation. Despite valuing their company at $1.5 million, they had earned only about $85,000 in sales, which made the sharks question the valuation.

Shark Kevin O’Leary expressed concerns about the company’s name, Baobab, considering it potentially problematic.

Daymond John was primarily concerned about the high valuation. Robert Herjavec had to step out due to a conflict of interest with another clothing company, Buttercloth, in which he had already invested.

Finally, after much deliberation, Mark Cuban dropped out, unable to see the value in the marketing skills that Brandon and Marcellus brought.

As a result, the Baobab founders could not secure a deal on Shark Tank, despite their product and convincing presentation.

Despite this setback on Shark Tank, the company continued to grow and adapt, even incorporating face masks into its product line during the pandemic, which proved successful.

In 2020, Baobab Clothing managed $700,000 in sales and continued to expand its clothing line beyond polo shirts and face masks. While they didn’t secure a deal on Shark Tank, the founders remained committed to their vision and continued to drive their business forward.

What Happened To Baobab After Shark Tank?

Baobab Clothing did not secure a deal during its appearance on Shark Tank. However, this did not deter the company’s progression or dampen its founders’ determination.

The company has been resilient in the face of challenges, displaying a strong ability to adapt and seize new opportunities. 

After their appearance on Shark Tank, Baobab experienced a surge in brand visibility, despite not getting a deal. The national exposure brought in numerous potential customers, significantly expanding the company’s customer base. 

Baobab continued its expansion by venturing into the production of face masks in 2020, a strategic move in response to the COVID-19 pandemic. This move proved successful, allowing the company to sustain its business operations during a difficult period and expand its customer base.

Financially, the company showed impressive growth. In 2020, Baobab made $700,000 in sales, a significant leap from the $85,000 sales reported during the Shark Tank pitch. 

Furthermore, in 2021, co-founder Marcellus Alexander was recognized by Forbes as one of “The Next 1000,” further solidifying the company’s standing in the industry.

Despite its initial focus on polo shirts, Baobab has since expanded its product line beyond polos and face masks, demonstrating its versatility and ambition. Baobab is still in business, actively growing and thriving in the clothing industry.

The founders, Marcellus Alexander III and Brandon Davenport continue to manage the business part-time while pursuing other professional opportunities.

Baobab Shark Tank Update

After appearing on Shark Tank, Baobab Clothing, founded by Brandon Davenport and Marcellus Alexander III, took an impressive trajectory. The company specializes in crafting advanced nanotechnology polo shirts that resist wrinkles, stains, fading, and odors.

Despite their enthusiastic pitch seeking a $150,000 investment for 10% equity on the show, backed by a presentation of $83,000 in sales, the founders could not secure a deal with the Sharks.

However, this setback didn’t deter Baobab’s progress. The brand proved its resilience and adaptability by successfully expanding into face masks in response to the COVID-19 pandemic. This strategic move significantly contributed to the company’s sustained growth and success. By 2020, Baobab’s sales had surged to an impressive $700,000.

Baobab continued to evolve its product line, expanding beyond polo shirts to include other clothing items like T-shirts and accessories. The company’s annual revenue further flourished, reaching between $900,000 and $1 million by 2022.

In recognition of their remarkable journey, Forbes acknowledged Marcellus Alexander III, one of the co-founders, as one of “The Next 1000” in 2021. The founders’ commitment and approach have propelled Baobab Clothing’s growth and financial success.

With a net worth exceeding $1 million and a solid foothold in the clothing industry, Baobab remains a significant player, offering durable and high-quality apparel to its customers.

Is Baobab Still In Business?

Our research shows that Baobab Clothing is still in business and operational. Founded by Marcellus Alexander III and Brandon Davenport in 2016, Baobab Clothing thrives in the men’s clothing industry.

Despite initial challenges, the company has persevered and maintained its presence in the market. Their approach to clothing design, particularly developing their signature polo shirt using nanotechnology to resist shrinkage, fading, odors, and wrinkles, has garnered attention and success.

While they did not secure a deal on Shark Tank despite seeking $150,000 for 10% equity, Baobab Clothing has continued to grow and diversify its offerings. The founders’ dedication and expertise have played a pivotal role in the company’s expansion.

Baobab Clothing’s growth rate of 800% from 2019 to 2020 speaks to its resilience and adaptability. By 2022, the company’s revenue had reached $1 million, demonstrating its enduring success and market viability.

Baobab Clothing’s commitment to sustainability, innovation, and functional design has enabled it to sustain and expand its customer base.

With its headquarters in New York City and an employee count ranging from 2 to 10, Baobab Clothing is a testament to the founders’ vision and dedication.

As of 2023, the company remains active in the men’s clothing industry, offering high-quality apparel options.

What Is the Net Worth Of Baobab?

According to our research, the net worth of Baobab Clothing is estimated to be $2 million. The valuation of Baobab Clothing was $1.5 million when it appeared on Shark Tank.

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