Tones of Melanin Shark Tank Net Worth

Tones of Melanin, showcased on episode 22 of Shark Tank season 14, is a clothing brand created by Ashley Jones to celebrate and represent historically Black colleges and universities (HBCUs).

The brand’s mission is to raise awareness about HBCUs through its stylish and inclusive apparel line.

Tones of Melanin offers a variety of clothing items, including tops, bottoms, and outerwear, with a special emphasis on promoting diversity and empowering HBCU students.

The product line includes a range of options such as long-sleeved shirts, hoodies, jogger shorts, puffer jackets, and more. These items are not only fashionable but also serve as a platform for advocating for diversity in the fashion industry.

By collaborating with HBCUs, black fraternities, and sororities, Tones of Melanin creates opportunities for students while showcasing their pride in their educational institutions.

Tones of Melanin products are available for purchase online at tonesofmelanin.com and select retail locations like Nordstrom and Bayshore Shopping Center.

Tones of Melanin’s designs and commitment to social responsibility have made them a standout choice for individuals looking to make a statement with their fashion choices while supporting a cause that encourages inclusivity and representation of minorities.

Company NameTones of Melanin
FounderAshley Jones
ProductMinority-friendly collegiate fashion
Investment Seeking$300,000 for 5% equity
Final Deal Accepted$300,000 for 12% equity
Shark NameMark Cuban
EpisodeSeason 14, Episode 22
Business StatusIn Business
WebsiteOfficial Website
Net Worth$3 Million

Tones of Melanin: Empowering HBCU Pride through Fashion and Representation

Tones of Melanin is a vibrant and trailblazing apparel brand that proudly represents the spirit of Historically Black Colleges and Universities (HBCUs). The brand focuses on providing stylish clothing specifically tailored for the HBCU community.

Tones of Melanin aims to raise awareness about the importance of HBCUs through their clothing and provide career opportunities for HBCU students and graduates.

Tones of Melanin Shark Tank Net Worth

Tones of Melanin is a brand that offers a variety of products related to historically black colleges and universities (HBCUs) and black culture.

They provide clothing items such as hoodies, sweatshirts, t-shirts, and accessories featuring empowering messages and designs celebrating black excellence and history.

Additionally, Tones of Melanin offers a selection of products showcasing support for HBCUs and promoting awareness of black culture.

Their collection includes bags, bottoms, outerwear, skirts, and more for both men and women, with prices ranging from $20 to $100.

The brand has gained popularity in the Black community and is valued at around $2.5 million, with partnerships with companies like Fanatics for distribution.

Tones of Melanin Before Shark Tank

Ashley Jones, a Norfolk State University graduate and member of Delta Sigma Theta Sorority, is the founder of Tones of Melanin. She serves as the creative director and CEO, driving the brand’s mission to celebrate Historically Black Colleges and Universities (HBCUs) through stylish collegiate wear.

Ashley Jones founded Tones of Melanin in 2017 after noticing a lack of apparel representing HBCU culture during her time at Norfolk State University.

Leveraging her skills in graphic design and marketing, she started the brand to fill this gap and provide job opportunities for HBCU students and alumni.

Jones began by selling t-shirts out of her backpack while at Norfolk State University. Her commitment to HBCU representation led her to launch Tones of Melanin in 2017, aiming to bring diversity to the fashion industry and empower the African American community through unique designs and quality apparel.

Before appearing on Shark Tank in Season 14, Episode 22 on 05/19/2023, Tones of Melanin had already made significant strides in the collegiate fashion market.

The brand’s products, ranging from t-shirts to accessories, were available in over 18 HBCU Follett Bookstores and major retail stores like Fanatics, Belk Stores, and Dick’s Sporting Goods.

Jones’ dedication to HBCU representation and philanthropy had garnered attention, making Tones of Melanin the only black and women-owned HBCU company in these stores.

Tones of Melanin Shark Tank Pitch

  • Founders: Ashley Jones
  • Product: Collegiate fashion for minority communities
  • Investment Seeking: $300,000 for 15% equity
  • Final Deal: $300,000 for 12% equity
  • Sharks: Mark Cuban

Ashley Jones introduced Tones of Melanin, a fashion brand catering to minority communities with collegiate wear, on Shark Tank Season 14.

She highlighted the brand’s mission to fill the gap in the market by providing fashionable options for historically black colleges and universities.

Tones of Melanin Shark Tank Net Worth

The standout product, an iconic reversible jacket, caught the Sharks’ attention with its impressive profit margins. The jacket could be manufactured for $30 and sold online for $165, showcasing a lucrative business model.

During the pitch, Ashley revealed that Tones of Melanin had achieved remarkable success, generating over $3 million in gross revenue since 2017. This solid track record demonstrated the brand’s viability and potential for growth in the market.

Despite the brand’s strong sales figures and compelling pitch, Sharks Daymond John, Lori Greiner, Barbara Corcoran, and Kevin O’Leary decided to pass on the opportunity to invest in Tones of Melanin.

However, Mark Cuban saw the potential in the brand and offered $300,000 for a 15% equity stake. Ashley swiftly negotiated, proposing a 12% equity share instead.

Mark recognized the value in Ashley’s counteroffer and accepted the revised terms, sealing the deal at $300,000 for a 12% equity stake.

The partnership between Ashley Jones and Mark Cuban signaled a promising future for Tones of Melanin, with the brand poised for continued success and expansion under Mark’s mentorship and support.

Shark’s NameInvestment OfferedFounder’s Counter OfferFinal Deal Accepted
Mark Cuban$300,000 for 15%$300,000 for 12%$300,000 for 12%

Tones of Melanin Shark Tank Deal

Tones of Melanin, the HBCU apparel brand founded by Ashley Jones, appeared on Shark Tank Season 14 Episode 22 seeking $300,000 for 5% equity.

The Sharks were impressed by the brand’s success, with $3.3 million in lifetime sales and $1.4 million in sales over the past year.

Ultimately, Mark Cuban made an offer of $300,000 for 12% equity, which Ashley accepted. This deal marked a significant milestone for Tones of Melanin, showcasing its potential for growth and impact within the HBCU community.

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The Success Story of Tones of Melanin Post Shark Tank Appearance

Following their Shark Tank appearance, Tones of Melanin experienced a surge in popularity and sales. The founder, Ashley Jones, secured an investment of $300k from Mark Cuban for 12% equity.

The company’s lifetime sales reached $3.3 million, with $1.4 million in sales in the last 12 months. They expanded to 40 HBCU licenses and gained placements in major retail stores like Dick’s Sporting Goods and Belk.

Additionally, they became the official apparel partner for several university athletics teams and individual colleges.

Tones of Melanin continues to focus on providing stylish apparel for the HBCU community, with plans for further growth and expansion.

Customers can purchase Tones of Melanin products at HBCU Follett Bookstores, brick-and-mortar stores, or online on their official website.

The brand’s offerings include a vibrant fusion of streetwear, collegiate, and vintage fashion, priced between $20 and $100.

Ashley Jones remains dedicated to raising awareness for HBCUs, with the company donating $50,000 to different HBCU educational endeavors.

The plans include further growth in the collegiate fashion market and becoming more popular among the HBCU community as a symbol of encouragement and change.

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Tones of Melanin Shark Tank Update

After appearing on Shark Tank and striking a deal with investor Mark Cuban, Tones of Melanin experienced significant growth and success in the fashion industry.

The brand, founded by Ashley Jones, continued to thrive by capitalizing on its unique concept of celebrating Historically Black Colleges and Universities (HBCUs) through a fusion of streetwear, collegiate, and vintage fashion.

Tones of Melanin leveraged its exposure from Shark Tank to expand its reach and visibility. The brand secured partnerships with key retailers such as HBCU Follett Bookstores, Belk, and Dick’s Sporting Goods, enabling them to tap into diverse markets and connect with a wider audience.

These strategic partnerships played a crucial role in the brand’s distribution network and contributed to its growth in the apparel industry.

With a clear marketing strategy focused on promoting diversity and pride in heritage, Tones of Melanin effectively connected with its target audience of HBCU students, faculty, and alumni.

Tones of Melanin Shark Tank Net Worth

The brand’s commitment to giving back to the HBCU community resonated well with customers, fostering strong connections and loyalty.

By offering a range of products priced between $20 and $100, Tones of Melanin ensured accessibility to its audience while maintaining quality and style.

Since its appearance on Shark Tank, Tones of Melanin’s net worth has increased to $3 million, showcasing the brand’s financial success and market value.

The initial valuation of $6 million during the Shark Tank pitch was adjusted to $2.5 million post-deal, indicating a positive trajectory in the brand’s valuation and profitability.

Tones of Melanin’s continued growth and success in the fashion industry demonstrate the lasting impact of its innovative approach and commitment to celebrating HBCU culture.

In conclusion, Tones of Melanin’s journey post-Shark Tank has been marked by expansion, strategic partnerships, marketing success, and financial growth.

The brand’s resilience, dedication, and ability to blend fashion styles while promoting HBCU pride have solidified its position in the market.

With a net worth of $3 million and a strong presence in retail channels, Tones of Melanin remains a thriving business that continues to inspire and resonate with its audience.

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Tones of Melanin Net Worth

According to our research, the net worth of Tones of Melanin is estimated to be $3 million. The valuation of Tones of Melanin was $2.5 million after securing an investment from Mark Cuban on season 14 of Shark Tank.

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