Beard King Shark Tank Update

Shark Tank episode 707 features Nicholas and Alessia Galekovic presenting Beard King, a bib that collects beard trimmings seeking investment and a new partner for their business.

The company’s flagship product is a modern interpretation of the traditional barber’s bib. A suction cup attaches the bib to the bathroom mirror, and the other end clips around your neck.

It collects all the shavings after you shave, so you can easily discard them when you’re finished.

Beard King bibs are available in white and black. They include a pocket that keeps the bib handy for grooming.

Beard King also sells beard oils, brushes, combs, tee shirts, and hats bearing the company’s logo.

They opened in June 2014, making them the latest business to capitalize on the still-strong “beard trend.”

Does Beard King have any luck convincing Sharks to wear their bib?

What Is Beard King?

Beard King offers grooming and care packages that assist in transforming the everyday man into a stylish and sophisticated gentleman.

The best part is that you can perform this service on your own based on barbershop standards.

Beard King Shark Tank Update

Their signature item is the beard bib grooming cape. This headgear transforms you into something similar to a platypus and collects all beard trimmings, which can be thrown in the trash without having to worry about your spouse or girlfriend reprimanding you for hair in the sink.

Company NameBeard King
EntrepreneurNicholas Galekovic
ProductAn apron for collecting beard trimmings
Investment Asking For$100,000 For 20% equity in Beard King
Final Deal$100,000 For 40% equity in Beard King
SharkLori Greiner
Episode Season 7 Episode 14
Business StatusAcquired, In Business
WebsiteVisit Website

Who Is The Founder Of Beard King?

Beard King was founded by husband and wife team Nicholas and Alessia Galekovic in 2014. 

Nicholas, who describes himself on his LinkedIn profile as an entrepreneur and business consultant, sold Beard King in 2019.

Since then, he has founded a company that offers commercial plane passengers hygiene products. According to her Instagram account, Alessia is a model who has pursued this career.

Nicholas Galekovic has grown facial hair for quite some time now. As a youngster, he grew his first beard, and the women in his life called him out for the problem of leaving his facial hair all over the sink.

The Beard King firm was founded on the beard bib he created to please his wife. How would this novel concept do on Shark Tank?

Beard King Before Shark Tank

The origins of Beard King lie in the age-old dilemma, “Whose hair is this in the sink, and who will clean it?”

Nicholas heard the same thing from girls ever since he developed his beard ability. Nicholas chose to live by another adage as a newlywed: “Happy wife, easy life!”

Nicholas updated the barber’s bib concept for home use by including suction cups that adhere to the mirror.

They were able to conduct sales online after filing a patent. The two generated $140,000 in eight months; however, they wanted to increase manufacturing as wholesalers requested samples and could not supply them. It was now time to find an investor.

How Was The Shark Tank Pitch Of Beard King?

Alessia and Nicholas enter Shark Tank searching for $100K in exchange for 20% of their “kingdom.” 

The remaining Sharks enjoy seeing an old photograph of Mr. Wonderful with a beard.

Chris Sacca empathizes with their tale of misery when cleaning up beard trimmings.

They were still in their infancy when they appeared on Shark Tank but generated $80,000 in sales in the month leading up to taping, partly because their product video went viral.

The Beard Bib retails for $29 and costs an average of $7. The company needs capital to expand its manufacturing.

They have a pending patent on the product and have been approached by several large distributors, but they cannot handle large orders.

Robert believes the company can bootstrap itself purely on sales; he leaves.

Mark admires this company’s content creation capabilities, but he wishes for more products. He, too, is out.

Mr. Wonderful refers to it as a beard diaper and notes that it is a product and not a business.

He has no idea how to reclaim his money; he is out. Sacca recognizes it but is unsure how he can assist; he exits.

What Happened To iCPooch After Shark Tank?

Lori is well aware that women dislike when hair clogs up the sink. Nick estimates 60% of consumers are female.

Lori makes him an offer while everyone in the studio chants, “LORI, LORI, LORI.”

She claims she’d require 51% since, even if they’ve established the market.

Nick counters with 45%, and Lori concurs. Lori is bestowed with a robe and a crown and is crowned the Beard Queen!

Final Deal: Lori Greiner agreed to invest $100,000 for a 45% stake in Beard King.

What Happened To Beard King After Shark Tank?

The Beard King website now sells the beard bib in black or white and a full King Kit including beard oils, brushes, and the beard bib.

There is also a Beard Queen section on the website, which features t-shirts bearing the Beard King emblem, as well as thongs that evoke oral sex. It appears as though they should have stayed within their wheelhouse. 

Additionally, they sell the beard bib at a limited number of retail locations across the United States. Beard King has a fairly active social media presence.

Beard King Shark Tank Update

The deal fell through after the episode aired on Shark Tank. Forbes reported that negotiations were unsuccessful.

However, it is almost certain that they did not regret appearing on the show. The company was on track to reach a million dollars in sales by the end of 2016.

Beard King Shark Tank Update

When they entered the Tank, they reported $80,000 in sales.

Beard King is still in business. The company now sells beard oil, facial cleanser, and other beard-related products. The company generates $1 million in annual revenue.

Is Beard King Still In Business?

Beard King continues to operate today from its headquarters in Deerfield Beach, Florida. Having started with humble beginnings, it has grown to a million-dollar business with seven employees.

The Beard King has been the target of numerous knockoffs, primarily overseas knockoffs of lower quality but similar in design.

What Happened To SwimZip After Shark Tank?

However, these can quickly be distinguished from the real Beard King because their product photos are crudely Photoshopped, and their brand names are random strings of characters.

The Beard King has diversified his product lines to include grooming products, hair care products, and even branded t-shirts. 

The Beard King was acquired by Raj Patel, an entrepreneur, and investor in 2019. Beard King goods are still available for purchase through the company’s website and Amazon.

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