Shark Tank episode 624 featured Sasha Koehn and Erik Shnakenberg pitching their American-made, timeless men’s apparel company.
The couple founded the company to provide quality, fashion-forward apparel for American men. Buck Mason defies the trend by manufacturing 3 percent of the clothes sold in America.
Clothing is simple: denim, high-end tees, Oxford shirts with round-cut collars, belts, and Stetson hats. The company makes clothing “rock star simple” and outlasts fashion trends.
Buck Mason’s packages include a “try-it-on” option. They include two to four pieces of clothing from their brand that clients can try on for 14 days and then pay for the items they keep. It’s the age-old “puppy dog near” rule applied to clothing!
Buck Mason gear is a little pricey: a tee-shirt cost $24, an Oxford shirt costs $88, and a pair of slacks cost $135.
The costs might seem prohibitive, but they are comparable to similarly styled high-end designer clothing.
The business is expanding – they currently have multiple job openings listed on their website – so they are likely looking to get funding and advice from a Shark.
How likely is it that Buck Mason will find a home with one of the Sharks?
What Is Buck Mason?
Buck Mason is a renowned luxury clothing firm specializing in button-up shirts, chinos, and other men’s clothing.
It is easy to become overwhelmed while shopping. The number of options, the number of trends, the number of foreign items are too large.
There are fewer than 3% of apparel products manufactured in the United States. Buck Mason offers affordable, high-quality American-made clothes.
You can purchase individual pieces or choose a wardrobe package to simplify your selections. You have 14 days to try the items before paying for what you keep. Packages are sent for free, and you have 14 days to return items.
Buck Mason’s Men’s Clothing Line is made entirely in the USA to compete with the largest and world’s most prestigious clothing brands in the world may not be available worldwide yet, but certainly in the US.
An apparel business for casual men could differentiate itself from the market’s big fish by doing the following?
In contrast, after learning more about Buck Mason’s “Packages,” I believe this is a unique way to buy and sell clothing online.
|Company Name||Buck Mason|
|Entrepreneur||Erik Schnakenberg and Sasha Koehn|
|Product||A minimalistic, high-quality men’s wardrobe|
|Investment Asking For||$200,000 For 8% equity in Buck Manson|
|Final Deal||No Deal|
|Episode||Season 6 Episode 26|
|Business Status||In Business|
Who Is The Founder Of Buck Mason?
Buck Mason was founded by Sasha Koehn and Erik Schnakenberg, Los Angeles, California.
Buck Mason Before Shark Tank
The founders of Buck Mason are Sasha Koehn and Erik Schnakenberg.
The company is seeking a $200,000 investment in exchange for an 8% stake in the business. Sasha thought that his father wore well-dressed clothes from a child since he always wore worn-in blue jeans, a white v-neck shirt, and a flannel work shirt.
It was not his intention to look stylish as a brick mason; he simply dressed for functionality. These days, men’s clothing shopping is like shopping for women’s clothing – there are too many options, too many trends, and simply too much stimulation.
In response, they came up with the idea of starting Buck Mason to offer American-made, high-quality clothes at an affordable price.
Buck Mason has honed in on a certain niche with items such as the perfect t-shirt, essential blue jeans, and a classic Oxford shirt.
Buck Mason discloses who manufactures their items and how they are manufactured on their website; they refer to this as “American-made price transparency.”
Buck Mason ignores fashion trends since taste is more important than standing out and fitting in. Buck Mason is geared toward working-class males who desire a feeling of style.
How Was The Shark Tank Pitch Of Buck Mason?
Sasha and Erik begin with an “at home” section where they discuss their novel method of selling clothing.
They have been consistently selling new products and have demonstrated that American Made can be profitable.
The gentlemen come demanding $200K in exchange for an 18% stake in the business. They fashioned their outfits after Erik’s father.
They’re eschewing fashion trends in favor of producing high-quality, straightforward men’s clothing.
The company provides samples and explains the direct sales model, including individual items and packages.
They explain that the jeans are made in the United States, so they are high. Their revenue has grown by $300,000 in one year, and 38% of the clients reorder every year.
They acquire clients through social media – primarily Instagram – and as a result, customer acquisition is near-zero. They each invested $10,000 and expected to earn $500,000.
Mark is not interested in being in the apparel business — he is out. Lori likes it, but it’s a little premature — she’s out.
Robert has no idea how consumers locate them — he is also out.
Kevin adores the garments and logos but believes they are overpriced; Daymond concurs. Daymond believes it is too expensive and hence withdraws.
Kevin says he will do $200K for 50% of the business since they’re still far from profitability.
The gentlemen claim they will not surrender more than 15%. Kevin asserts that he is unable to reach that value.
The lads counter with $200K at 15%, a line of credit for $100K, and a life-changing outfit.
In response, Robert offers $200K for 25% along with a $100K line of credit while warning them not to respond.
Robert’s offer is good because they will gain much from his services and the products he can bring.
The gentlemen are reluctant to give up so much equity, so they reply with 17%. They decline because Robert will not budge.
Final Deal: No deal between Sharks and Buck Manson.
What Happened To Buck Mason After Shark Tank?
Buck Mason is still in business, but there are no hard figures to demonstrate how well or poorly this company is doing.
To be sure, their entire range of clothing continues to develop in terms of providing men with more simple-yet-fashionable gear, and they’ve even worked with Stetson Hats to create an exclusive line of hats for Buck Mason devotees.
The clothing line has extended to include more classic button-down shirts, chinos, shorts, and denim, as well as “sweats” such as sweat trousers and other comfy apparel.
Buck Mason Shark Tank Update
They declined Robert’s offer because they believed the business was worth $1.5 million to $2 million, and his offer was significantly less.
The company increased by 20% to 100% per month in the year following their introduction.
The company already has 12 retail locations in California, New York, Austin, and Atlanta, with another half dozen in 2021. Buck Manson’s revenue is approximately $16 million yearly as of January 2022.
Is Buck Mason Still In Business?
Buck Manson is run by Sasha Koehn and Erik Schnakenberg, a made-up name, by the way.
These people know how to market their firm effectively. They convinced The New York Times to write: “Buck Mason sells American-made clothing in packages of coordinating neutral outfits, sufficient to equip a software developer for a week without committing a fashion faux pas.”
The Buck Mason website states that Buck Mason is for “guys who want to look nice, are fashion-conscious, and do not want to spend a lot of time in Bloomingdale’s looking for the latest styles.”