Buttercloth, an innovative clothing brand, significantly impacted Season 10 of the popular American television show, “Shark Tank.” This unique apparel company is famous for its proprietary, all-natural, long-fiber cotton material, which feels as soft as butter, hence the name.
Buttercloth aims to revolutionize men’s fashion by bridging the gap between comfort and class, making it possible for men to simultaneously enjoy the elegance of a dress shirt and the comfort of a casual tee.
The distinctiveness of Buttercloth shirts lies in their fabric, a 100% natural, sustainable long fiber cotton. This cotton variety is renowned for its ultra-softness, akin to a touch of butter.
The fabric is also remarkably breathable and offers six-way stretch, which allows for excellent flexibility and unrestricted movement, distinguishing Buttercloth from traditional dress shirts that may be stiff and confining.
Additionally, the brand has a patented manufacturing process that adds to the shirts’ durability while maintaining their distinctive softness, ensuring customers get a lasting product.
Buttercloth shirts also feature a sophisticated, tailored design that doesn’t compromise style. They come in a variety of colors, patterns, and fits, offering consumers plenty of options to choose from.
These shirts perfectly embody the ‘smart casual’ look, making them suitable for various settings, from office environments to social gatherings. Buttercloth’s innovative approach to men’s fashion makes it an appealing choice for modern consumers.
The blend of unprecedented comfort and stylish design empowers men to dress confidently while enjoying the plush softness of Buttercloth shirts.
Moreover, Buttercloth’s commitment to sustainability, with its natural, long-fiber cotton, aligns with increasing consumer demands for environmentally responsible fashion. Thus, for those seeking comfort, style, and sustainability in their wardrobe, Buttercloth provides an excellent choice.
|Founder||Dahn Tran and Gary Falkenberg|
|Product||Comfortable Cotton Clothes|
|Investment Seeking||$250,000 for 10% equity in Buttercloth|
|Final Deal||$250,000 for 25% equity in Buttercloth|
|ButterCloth Episode||Season 10, Episode 4|
|ButterCloth Business Status||In Business|
|ButterCloth Website||Visit Website|
What is Buttercloth?
Buttercloth is a luxury clothing brand that provides shirts of superior comfort and a unique style. This brand gained significant popularity after its successful appearance on Shark Tank.
Buttercloth shirts are defined by their fantastic comfort – they are constructed from 100% natural, sustainable cotton, and their unique manufacturing process results in incredibly soft, stretchy fabric.
The shirts are referred to as “buttery soft” due to this extreme comfort, thus, leading to the label, Buttercloth. They are designed to offer the perfect balance of casual and professional, making them suitable for various occasions.
Buttercloth has established a reputation for quality and innovation despite being relatively new in the clothing industry. Buttercloth shirts offer a precise fit, great durability, and unparalleled comfort because of their unique, six-way stretch material. This brand revolutionizes the notion of comfortable yet stylish everyday wear.
Who is the Founder of Buttercloth?
Danh Tran and Gary Falkenburg co-founded Buttercloth. While Danh Tran brought his fashion design expertise to the partnership, Gary Falkenburg brought his business acumen.
Gary Falkenburg, an experienced entrepreneur, played a pivotal role in the company’s business strategy and growth. Before Buttercloth, Falkenburg founded and sold a software company as a former IBM executive.
With his extensive background in technology and business, Falkenburg provided the strategic planning and business infrastructure necessary for Buttercloth’s successful launch and subsequent growth.
Their partnership, a synergy of fashion design and business expertise, has driven Buttercloth’s success. The co-founders’ complementary skills have enabled Buttercloth to innovate in the fashion industry while effectively navigating the business landscape.
Danh Tran has worked for several notable brands, including Guess and Affliction, where he had the opportunity to perfect his craft. However, he always dreamt of designing a shirt that married style with unprecedented comfort. This dream led to the birth of Buttercloth.
Tran realized that while dress shirts looked stylish, they often felt stiff and uncomfortable. He wanted to create a dress shirt that felt as comfortable as wearing a t-shirt, and after much research, he discovered a special long fiber cotton that was extraordinarily soft and stretchy.
He named his new creation “Buttercloth” because the fabric was as soft as butter.
Before its appearance on Shark Tank, Buttercloth conducted a successful crowdfunding campaign on Kickstarter, raising over $177,000, a testament to the unique appeal of its product.
This initial success helped Tran get Buttercloth and attracted a loyal customer base. The brand was starting to make a name for itself in the market, but the exposure from Shark Tank greatly boosted its visibility and credibility.
The fusion of Tran’s passion for fashion, his unique vision, and his successful Shark Tank appearance were instrumental in turning Buttercloth into a brand loved by many for its comfort and style.
How Was Shark Tank Pitch of Buttercloth Shirts?
The Shark Tank pitch by Buttercloth founders Danh Tran and Gary Falkenburg was compelling and centered around their claim of offering the ‘world’s most comfortable shirt.’ The founders sought an investment of $250,000 for a 10% equity stake in their business, valuing Buttercloth at $2.5 million.
To substantiate their claim, the duo distributed samples of their product among the sharks, enabling them to experience firsthand the unique softness and quality of Buttercloth shirts.
They provided detailed information on their brand’s design materials and logistical aspects, assuring the sharks of their comprehensive understanding of the business.
Key highlights of the pitch included the founders sharing their business model, primarily an online-focused strategy, with shirts sold at around $100. The cost of production was revealed to be $20 per shirt, indicating reasonable profit margins.
Furthermore, Tran and Falkenburg shared that within just seven months of operation, they had already amassed more than $500,000 in sales and projected continued growth and expansion.
However, despite the promising product and business model, the sharks raised some concerns. Kevin O’Leary decided to drop out due to the company’s high customer acquisition costs, impacting the profit margin.
Mark Cuban and Lori Greiner also stepped out of the negotiation, leaving Charles Barkley and Robert Herjavec to consider the deal.
Charles Barkley quickly decided not to invest, leaving Robert Herjavec as the last shark standing. Recognizing the potential in Buttercloth, Herjavec proposed an investment of the requested $250,000 but for a 25% equity stake in the company, implying a company valuation of $1 million.
This represented a significant increase from the founders’ initial 10% equity offer. Despite the equity dilution, Danh and Falkenburg accepted Herjavec’s offer, understanding the immense value he brought to the table regarding his business experience and network.
Buttercloth was pivotal to its success thanks to the Shark Tank appearance. The exposure and Herjavec’s investment helped the company expand its product line and increase its revenues significantly.
Recent estimates show Buttercloth is generating more than $5 million annually and continues growing its online presence and customer base.
What Happened To Buttercloth After Shark Tank?
After its appearance on Shark Tank, Buttercloth saw significant growth and continued product development. The brand successfully expanded its product range under the leadership of Danh Tran, who demonstrated his ongoing commitment to innovation.
In response to market needs, Buttercloth launched several new offerings, including ‘Icy Cotton,’ a fabric designed to provide a cooling effect in warmer weather. This strategic move showcased the brand’s ability to evolve with customer needs while maintaining trademark comfort and style.
The product lineup expanded to include t-shirts, Henleys, face masks, underwear, jackets, and polo shirts. In 2021, they introduced Buttercloth 10.0, promising a softness factor up to 10 times greater than the original Buttercloth shirts, further underlining the brand’s dedication to comfort.
Initially, Buttercloth planned to expand into physical retail stores to complement its online presence. However, the global pandemic that began in 2020 forced them to reevaluate this strategy, and they chose to remain exclusively online for the foreseeable future. Despite this, Buttercloth’s revenue remained strong, reaching nearly $5 million annually.
Buttercloth has demonstrated remarkable resilience and adaptability post-Shark Tank. Buttercloth continues to thrive, offering a wide variety of comfortable, stylish clothing to its growing customer base, constantly innovating, expanding, and optimizing its business strategy.
Buttecloth Shark Tank Update
After appearing on Shark Tank, Buttercloth, a clothing brand founded by Danh Tran, experienced significant success and growth in its business. The company’s appearance on Season 10 of Shark Tank garnered attention and led to a deal with Robert Herjavec, another immigrant entrepreneur, who invested $250,000 for a 25% ownership stake in Buttercloth.
Following its appearance on the show, Buttercloth witnessed a surge in popularity. In just seven months, the brand generated $3 million in sales and sold 30,000 shirts, which prompted its expansion into other product categories, such as underwear, socks, polos, and face masks.
Buttercloth’s unique selling point was its comfortable alternative to traditional dress shirts, created using 100% natural, sustainable, and stretchable materials. Despite facing challenges caused by the COVID-19 pandemic, Buttercloth continued to thrive.
Although its plans to enter physical retail stores were delayed, its online presence remained strong, contributing to its annual revenue approaching $5 million. Celebrity endorsements from Metta World Peace and Jay Leno enhanced the Buttercloth brand.
Buttercloth’s success extended beyond its sales figures. The company focused on fundraising efforts, including venture capital funding, crowdfunding, and traditional methods. These initiatives, combined with increased sales and international expansion, contributed to the brand’s strong financial performance and positive outlook for the future.
By 2022, Buttercloth’s net worth had exceeded $5 million, indicating substantial growth since its appearance on Shark Tank. The brand’s commitment to customer service and innovative approach to men’s fashion positioned Buttercloth as a rising star in the industry.
Buttercloth experienced remarkable success and growth after appearing on Shark Tank. The brand’s comfortable and sustainable clothing offerings resonated with consumers, resulting in significant sales, expansion into new product categories, and a strong online presence.
Buttercloth’s commitment to quality, positive financial performance, and international expansion solidified its position in the industry.
Is Buttercloth Still in Business?
According to our research, Buttercloth is still in business. Following its appearance on Shark Tank, Buttercloth experienced significant growth and success. The founder, Danh Tran, secured a deal with Robert Herjavec, who invested $250,000 for a 25% stake in the company.
Since then, Buttercloth has expanded its product line to include various items such as underwear, socks, polos, face masks, sweaters, jackets, and polo necks. The brand continues to focus on providing comfortable dress shirts made from a unique blend of 100% cotton fabric that feels like T-shirts, emphasizing softness and breathability.
Buttercloth has gained recognition for its exceptional fit, attractive patterns, and commitment to quality. It has also garnered a strong online presence and positive customer reviews.
Despite the challenges posed by the COVID-19 pandemic, Buttercloth has adapted and maintained its performance, generating substantial sales and revenue.
The annual revenue of Buttercloth was reported to be $6 million, and the company’s net worth has been estimated to exceed $5 million by the end of 2022. Buttercloth continues to thrive in the market, delivering comfortable and stylish options for men’s clothing.
What Is the Net Worth of Buttercloth?
Our research shows Buttercloth’s net worth is estimated to be $6 million as of 2023. The valuation of Buttercloth was $1 million after securing an investment from Robert Herjavec on Shark Tank.
Also, read other notable businesses from Season 10 of Shark Tank: