Collars & Co. Shark Tank Net Worth

Collars & Co. is an apparel company that appeared in episode 08 of Season 14 of Shark Tank. They specialize in producing comfortable dress shirts for men, focusing on style and functionality.

The company’s flagship product is the Dress Collar Polo™, a combination of luxury and comfort. These polo-style shirts feature a stiff, business-style collar that makes them perfect to wear under a sweater or suit jacket.

The Dress Collar Polo™ is designed to provide men with the best of both worlds – the lightness and stretchiness of a regular polo shirt combined with the sophistication and class of a dress shirt.

Collars & Co.’s dress shirts are versatile. They are suitable for various occasions, whether it’s a business meeting, a casual gathering, or even a round of golf. 

The brand has gained popularity within the golf community and has received endorsements from renowned golfer Sir Nick Faldo. The shirts are also favored by stylish businessmen who appreciate their comfort and style.

Collars & Co. offers many products beyond dress shirts, including sweaters, belts, underwear, and other accessories. The company aims to provide men with stylish and comfortable clothing options that simultaneously allow them to look and feel great.

The Dress Collar Polo™ has gained significant recognition and attention, with Collars & Co. being featured in prestigious publications such as Forbes, Men’s Health, GQ, and Golf Digest. The company’s appearance on Shark Tank further boosted its profile.

Collars & Co. is a men’s apparel company specializing in comfortable dress shirts, particularly the innovative Dress Collar Polo™. They combine luxury and comfort to provide the perfect balance for men who want to look stylish and feel comfortable.

The brand’s popularity within the golf community and endorsements from influential figures contribute to its appeal. Collars & Co. also offers a range of other clothing accessories, ensuring men can access a full line of stylish and comfortable attire.

InformationAnswer
Company NameCollars & Co
FounderJustin Baer
ProductCombination of the Dress Collar Polo
Investment Seeking$300,000 for a 4% Equity
Final Deal Accepted$300,000 for a 10% equity + a $700,000 line of credit
EpisodeSeason 14, Episode 06
Business StatusIn Business
WebsiteVisit Website
Collars and Co. Net Worth$5 million

What Is Collars & Co?

Collars & Co is a fashion brand that offers luxury polos and dress shirts designed to be worn under sweaters or suits. Their signature product, “The Dress Collar PoloTM,” features an English spread collar and a lightweight design that can be dressed up with any outfit.

Collars & Co. Shark Tank Net Worth

The brand also offers a new line of comfortable dress shirts with patent-pending firm collar technology called “Quattro Flex Dress Shirts.” Additionally, Collars & Co provides a range of cashmere and cotton sweaters that complement their dress collar polos.

Collars & Co brand has been featured in publications such as The Wall Street Journal, Men’s Health, GQ, Fast Company, and Esquire. With a wide selection of colors and patterns, Collars & Co aims to offer stylish and comfortable wardrobe essentials.

Who Is The Founder Of Collars & Co?

Justin Baer, an entrepreneur with a background in Marketing and Real Estate Finance, founded Collars & Co. Before starting Collars & Co, Baer had already established six digital companies.

Baer came up with the idea for Collars & Co while working as a professional in New York City. He found wearing dress shirts under his sweaters and jackets was uncomfortable, expensive, hot, and required frequent dry cleaning. 

Additionally, if he had a casual event after work, he would have to bring a second shirt to change into.

Baer realized that more casual and comfortable shirts with professional-looking collars could be a market niche for more relaxed and comfortable dress shirts. He developed prototypes and found a manufacturer in Pakistan to produce the shirts.

Baer ordered an initial batch of 500 shirts to test the market and posted a video on TikTok in March 2021, recorded by his 7-year-old daughter. 

The video quickly went viral, with over 800,000 views, and the 500 shirts sold out within two days. This success prompted Baer to scale up production, and within four months, he ordered 6,000 shirts at a time to meet the growing demand.

By early 2024, Collars & Co had gained almost 159,300 followers on TikTok and experienced a significant increase in sales. The company generated $40,000 the first month after the video release and saw a 40 percent month-over-month sales growth.

Before appearing on Shark Tank, Collars & Co had garnered attention and positive reviews. In January 2022, Golf Digest writer Gabrielle Herzig mentioned that these shirts would make transitioning from the office to the golf course easier. 

Later, in June 2022, Sir Nick Faldo, a six-time Major golf champion, became the first Global Brand Ambassador for Collars & Co.

Collars & Co has established a solid online presence and a growing customer base through social media platforms like TikTok. Their innovative shirts’ success and positive reception positioned them well before their appearance on Shark Tank.

How Was The Shark Tank Pitch Of Collars & Co?

The founders of Collars & Co., led by Justin Baer, presented their men’s fashion business on Shark Tank. They were seeking a $300,000 investment in exchange for 4% equity in their company.

The sharks initially doubted whether they wanted to invest due to the small equity stake offered. During their pitch, Collars & Co. revealed impressive sales numbers.

Collars & Co. Shark Tank Net Worth

In the first year of operation, they sold over 90,000 shirts, generating over $5 million in gross revenue. The company’s direct-to-consumer sales model yielded a 20% overall profit margin.

The sharks had mixed opinions about the product and investment opportunity. Daymond John dropped out first, citing his dislike for the shirt’s style and the equity offering. Lori Greiner also decided not to make an offer.

Kevin O’Leary offered a $300,000 investment in exchange for 10% equity. However, Justin Baer quickly declined the offer. Guest shark Peter Jones then matched Kevin O’Leary’s offer, but he too was rejected.

In a surprising turn of events, Mark Cuban and Peter Jones teamed up to make a joint offer. They offered $300,000 in cash and an additional $700,000 line of credit. Justin ultimately accepted the offer despite giving away more equity than he had hoped.

Here is a table summarizing the offers made by the sharks and the final deal accepted by the founders:

Shark’s NameInvestment OfferedCounter Offer by FoundersFinal Deal Accepted
Mark Cuban$300,000 cashN/AYes
Peter Jones$300,000 cashN/AYes
Kevin O’Leary$300,000 cash10% equityNo

Overall, Collars & Co. secured a deal with Mark Cuban and Peter Jones, which included a cash investment and a line of credit. The episode has aired, but it remains to be seen if the deal will be finalized in reality.

The founders are optimistic about the increased sales they expect due to their appearance on Shark Tank.

Did Collars & Co Get a Deal on Shark Tank?

Yes, Collars & Co. received a deal on Shark Tank. Founder Justin Baer appeared on Season 14 Episode 6 of Shark Tank and pitched his apparel brand. He asked for $300,000 for a 4% equity stake at a $7.5 million valuation.

After negotiations with the sharks, Mark Cuban and Peter Jones made a final offer of $300,000 cash plus a $700,000 line of credit in exchange for a 10% equity stake. Justin accepted the offer, and Collars & Co. partnered with Mark Cuban and Peter Jones.

Since the episode aired, the company’s sales have spiked by 100%. They have also launched a new outerwear collection and plan to open physical stores in Virginia’s Tyson’s Corner Center malls, Georgetown, and Bethesda Row. 

Collars & Co. is still in business as of May 2023 and has been featured in notable media publications such as Forbes, GQ, Men’s Health, Fast Company, Golf Digest, and WWD. The estimated net worth of Collars & Co. is around $5 million.

What Happened To Collars & Co After Shark Tank?

After appearing on Shark Tank, Collars & Co experienced a significant boost in sales and growth. Founder Justin Baer secured a deal with Mark Cuban and Peter Jones, who invested $300,000 cash and provided a $700,000 line of credit in exchange for a 10% equity stake in the company.

The partnership helped Collars & Co. expand its operations and increase its sales. Following the Shark Tank episode, the company’s sales skyrocketed by 100%.

They capitalized on their newfound popularity by launching a new outerwear collection, which brand ambassador Tiki Barber and golf champion Sir Nick Faldo introduced.

The positive response from viewers on Twitter and other platforms further contributed to the company’s success.

Collars & Co. Shark Tank Net Worth

Collars & Co continued to grow after the show aired. By May 2023, the company had achieved lifetime sales worth $14.2 million, with $8.7 million in sales since the episode aired. They moved to a 20,000 sq. ft warehouse to accommodate their expanding business.

In addition to their men’s clothing line, Collars & Co also started a women’s clothing line, which quickly sold out within one week due to high demand. 

The company plans to open physical stores in prominent locations such as Virginia’s Tyson’s Corner Center malls, Georgetown, and Bethesda Row.

Collars & Co has gained recognition from various media publications, including Forbes, GQ, Men’s Health, Fast Company, Golf Digest, and WWD. They have also partnered with Hire Heroes USA to support military members, veterans, and military spouses in their hiring initiatives.

Collars & Co is still in business and focuses on providing men with premium apparel. Their dedication to quality and style has helped them maintain their position in the market.

Collars & Co Shark Tank Update

After appearing on Shark Tank, Collars & Co. experienced a significant boost in its business. The company, founded by entrepreneur Justin Baer, offers collared polo shirts that provide a formal look and comfort. The exposure on the show helped increase brand recognition and attract new customers.

Following the episode, Collars & Co. saw a surge in sales. The company earned around $40,000 in the first month alone and continued to experience a 40% monthly revenue increase in the subsequent period. This initial success was fueled by a viral TikTok video featuring the shirts, which resulted in the first batch selling out within days.

However, Collars & Co. faced logistical challenges related to the COVID-19 pandemic, threatening to shut down the business. Despite these obstacles, Justin Baer, drawing on his experience as an entrepreneur, managed to overcome the slump and fulfill backorders.

The company’s growth has been remarkable, with plans for further expansion. Collars & Co. has been growing rapidly, making determining how much inventory will be needed is challenging.

Justin Baer has adapted by purchasing more inventory during holidays and securing additional storage space to accommodate the increased demand.

Collars & Co. enlisted golf legend Sir Nick Faldo as their brand ambassador in 2022 to enhance its brand image and boost sales. This strategic partnership further contributed to the company’s success.

Collars & Co.’s dress collar polos are available in various styles and patterns, ranging from $64 to $74. They also offer outerwear, sweaters, and belts within the price range of $59 to $300.

With its affordable products and the growing popularity of its unique collared polo shirts, Collars & Co. is poised for continued success in the years ahead.

After appearing on Shark Tank, Collars & Co. experienced significant business growth, with increased sales and brand recognition. Despite facing pandemic-related challenges, the company adapted and continued to fulfill customer orders.

Through strategic partnerships and a range of appealing products, Collars & Co. remains well-positioned for future success.

Is Collars & Co Still In Business?

Yes, Collars & Co. is still in business. Founded by entrepreneur Justin Baer in 2021, Collars & Co. offers collared polo shirts that provide a formal look and comfort for professionals.

Despite initial logistic challenges due to the COVID-19 pandemic, the company quickly recovered and experienced significant growth. Collars & Co.’s success can be attributed to its innovative product design, high-quality materials, and affordable prices.

Collars & Co. Shark Tank Net Worth

The company has expanded its product line to include outerwear, sweaters, and belts. With their commitment to customer satisfaction and continuous growth, Collars & Co. is poised for further success in the years to come.

What Is the Net Worth Of Collars & Co?

According to our research, Collars & Co’s net worth is estimated to be $5 million. The valuation of Collars & Co. was $3 million after securing an investment from Mark Cuban and Peter Jones on Shark Tank season 14.

Also, read about other businesses that appeared on episode 06 of season 14 of Shark Tank:

3.6/5 - (5 votes)
2 Shares: