Two Guys Bow Ties is a company that specializes in handcrafted wooden bow ties, lapel pins, and other men’s accessories.
Established by Adam Teague and Tim Paslay in 2012, the brand offers unique and stylish products combining traditional bow tie designs with modern materials such as wood, fabric, and leather.
Two Guys Bow Ties products are meant to stand out and make a statement while providing a fashionable alternative to conventional neckwear.
Two Guys Bow Ties gained significant attention after appearing on Shark Tank’s television show in 2015, where they pitched their business to potential investors.
The company has since continued to grow and expand its product line, earning a reputation for quality craftsmanship and innovative design.
What Is Two Guys Bow Ties?
Two Guys Bow Ties is a company that specializes in creating unique and stylish bow ties for men and women. They use various materials such as wood, leather, and fabric to make their bow ties, which are handmade in the USA.
Two Guys Bow Ties has gained popularity for its innovative and modern take on a classic fashion accessory, and its products have been featured in various publications and on television shows.
|Company Name||Two Guys Bow Ties|
|Entrepreneur||Adam Teague And Tim Paslay|
|Product / Business||Wooden bow ties, neckties, and accessories|
|Investment Asking For||$150,000 For a 10% stake in Two Guys Bow Ties|
|Final Deal||$150,000 For a 17.5% stake in Two Guys Bow Ties + 10% Royalty Fees until $150,000 is repaid|
|Episode||Season 7, Episode 3|
|Business Status||In Business|
Who Is the Founder Of Two Guys Bow Ties?
The co-founders of Two Guys Bow Ties are Adam Teague and Tim Paslay. They started the company in 2012 after experimenting with making bow ties from wood in their garage.
They wanted to create a modern and unique take on the classic bow tie, and their handmade creations quickly gained attention and popularity.
Since then, Two Guys Bow Ties has expanded its product line to include bow ties made from various materials, but its commitment to quality and craftsmanship remains a key part of its brand.
Two Guys Bow Ties Before Shark Tank
Before appearing on Shark Tank in 2015, Two Guys Bow Ties was a small but growing company specializing in creating handmade wooden bow ties. Co-founders Adam Teague and Tim Paslay started the business in 2012, initially making bow ties in their garage using reclaimed wood.
As the popularity of their unique and stylish designs grew, they expanded their product line to include bow ties made from various materials such as leather, fabric, and acrylic.
Two Guys Bow Ties gained attention from fashion bloggers and media outlets, which helped to increase their exposure and grow their customer base. However, the appearance on Shark Tank significantly boosted the company’s visibility and helped further propel its growth.
How Was the Shark Tank Pitch Of Two Guys Bow Ties?
During their Shark Tank pitch, Adam Teague and Tim Paslay, the co-founders of Two Guys Bow Ties, presented their wooden bow ties and other accessories to the panel of investors, known as the “sharks.”
Adam Teague and Tim Paslay appeared on Shark Tank requesting an investment of #150,000 in exchange for a 10% stake in Two Guys Bow Ties.
The entrepreneurs explained the uniqueness of their product, highlighting its handcrafted nature, innovative design, and sustainable materials like hardwoods.
Their pitch emphasized the potential market for their products, as they catered to people looking for an alternative to traditional neckwear.
They also mentioned that their bow ties had already garnered celebrity attention and had been featured in high-profile events such as the Grammy Awards.
The sample belonging to Lori Greiner featured an engraving of the Chicago skyline, which was quite impressive. Meanwhile, Daymond John, known for his signature black fedora with a wooden brim, was also flaunting his style.
It’s interesting to note that bowties can be manufactured for as low as $7.50 and sold for a hefty price range of $45 to $100. Last year, the company was able to generate $407,000 in sales.
Adam and Tim boast that they have the upper hand over other handmade companies because they can produce around 1,000 times monthly.
The guest shark, Troy Carter, expressed his love for the bowties but was compelled to opt-out as it’s not within his expertise. On the other hand, Kevin O’Leary saw the potential of incorporating the bowties into his wedding-based platform and offered $150,000 for 15% of the business.
Daymond John, however, believed that he could boost the company’s sales by leveraging his fashion expertise and proposed a $150,000 investment for 20% equity. Mark Cuban and Lori Greiner, unable to contribute significantly, opted out of the deal.
In a surprising turn of events, Adam and Tim requested that Troy join forces with Daymond, but the sharks demanded 30% equity, which the entrepreneurs hesitated to agree to.
Kevin altered his initial offer to $150,000 for 10% equity with a 7% royalty deal, but Daymond remained committed to his $150,000 investment for 20% equity with a 10% royalty offer.
Ultimately, Daymond settled on an agreement of $150,000 for 17.5% equity with a 10% royalty deal.
Daymond’s background in the fashion industry and his experience building brands made him a suitable partner for Two Guys Bow Ties. With his support, the company has continued to grow and expand its unique product offerings in the men’s accessories market.
What Happened To Two Guys Bow Ties After Shark Tank?
After their appearance on Shark Tank and securing a deal with Daymond John, Two Guys Bow Ties experienced a surge in sales and publicity, as is often the case for companies that appear on the show. This exposure helped the brand to gain recognition and attract a larger customer base.
With Daymond John’s guidance and investment, the company continued to expand its product line beyond wooden bow ties, introducing other accessories such as wooden lapel pins, pocket squares, fedoras, and bracelets. They also increased their online presence and invested in marketing efforts to reach a broader audience.
The partnership with Daymond John allowed Two Guys Bow Ties to leverage his expertise in the fashion industry and branding, which helped them grow and solidify their position in the market.
By offering unique, handcrafted, and stylish products, the company has been able to successfully differentiate itself from competitors and cater to customers seeking an alternative to traditional neckwear and accessories.
Two Guys Bow Ties Shark Tank Update
After making a deal with Daymond John on Shark Tank in 2015, Two Guys Bow Ties experienced significant growth and expansion. The investment helped them increase its production capacity, improve its marketing efforts, and expand its product line.
They introduced new materials such as feathers, seersucker, and velvet and continued offering their signature wooden bow ties. Two Guys Bow Ties also gained new partnerships and collaborations, which helped to increase their visibility and reach a wider audience.
Two Guys Bowties has expanded its product line beyond the bowties featured on Shark Tank to include more customization options, such as carving the skyline of any major city.
I am convinced that Two Guys Bowtie Company has revolutionized the way men will dress in the future, and as the deluge of recent orders demonstrates, this company is not going anywhere.
I cannot help but ponder if Daymond has his collection of Two Guys wooden bowties to wear out on the town.
Is Two Guys Bow Ties Still in Business?
Yes, Two Guys Bow Ties is still in business and have expanded their product line after getting investment from Shark Daymond John.
What Is the Net Worth Of Two Guys Bow Ties?
The valuation of Two Guys Bow Ties was $1.5 million when it appeared on Shark Tank. The net worth of Two Guys Bow Ties is $3.5 million as of 2023.