What Is Ash and Erie?
Ash and Erie is a firm that specializes in apparel for short guys. Ash and Erie include a complete line of T-shirts, polos, jeans, and shorts made of soft, durable materials.
Ash and Erie also offer clothing designed specifically for guys 5’8″ and shorter, making them look great and fit well.
Who Is The Founder Of Ash and Erie?
Steven Mazur and Eric Huang are the founders of Ash and Anvil, a clothing line for shorter-than-average guys.
Steven and Eric have run multiple start-up businesses together, which means they both have business experience. Despite this similarity, they were not driving factors forming Ash and Anvil.
|Company Name||Ash and Erie|
|Entrepreneur||Steven Mazur And Eric Huang|
|Product||Clothes For Men Under 5’8″|
|Investment Asking For||$100,000 For 12.5% equity in Ash & Erie|
|Final Deal||$100,000 For 25% equity in Ash & Erie|
|Episode||Season 9 Episode 5|
|Business Status||In Business|
Ash and Erie Before Shark Tank
Steven Mazur and Eric Huang founded Ash and Anvil while working for a digital advertising agency in Detroit, Michigan, as part of the Venture for America fellowship program, connecting college graduates with start-ups in economically developing cities.
They have both struggled their entire lives with being shorter than most people. The struggle to locate clothing that fit properly persisted even when they became accustomed to and comfortable with their distinctive characteristics.
Eric, who moved to Detroit in 2008 after graduating, and Steven, both native Detroiters, also shared another characteristic: this inspired them to create the Ash & Anvil clothing brand.
They decided to start their clothing line for shorter men than normal: 5’8″ and under.
Even though the fashion and apparel industry is one of the most competitive segments in the market, short men have been complaining about the lack of clothing for years.
Clothing company Ash and Anvil was founded as a supplier of shirts and eventually expanded into short men’s clothing. The brand now offers shorts, polos, and crewnecks.
After reviewing shirts from top brands and learning each was made to fit men just over six feet tall, one of the most well-known fashion bloggers who were also shorter than normal reported that the clothes industry scorned short men.
An extra fee is charged to tailor clothes for short men to ensure they fit properly. This phenomenon is known as the ‘tailor tax.’
They were fed up with paying an additional fee to have their garments fitted to their measurements.
Therefore, they have found a firm that caters to short men while inspiring them to feel secure and confident about themselves.
Steven and Eric, who stand five feet six and five feet eight inches tall, respectively, founded Ash and Anvil to provide shirts designed specifically for the one in three men in America who are under five feet eight inches tall, a market of approximately 40 million men who are left out in the cold when it comes to shirts designed specifically for them.
The company was founded in 2015, raising funds for its initial production run through Indiegogo.
They were supposed to raise $10,000, but they could generate nearly $26,000 through Indiegogo backers a month after the campaign ended.
The firm raised more money in 2016 to expand its clothing line to include jeans and knitwear, and three years later, Steven and Eric turned to Shark Tank to seek a shark investor to help grow the firm.
How Was The Shark Tank Pitch Of Ash and Erie?
Steven and Eric appeared on the Shark Tank requesting an investment of $100,000 in exchange for 12.5% in Ash and Anvil, aka Ash and Erie.
Eric and Steven invited other short men over to do a fashion show, and the men all agreed that it was the right thing to do.
They reviewed what they liked about each shirt, and most were surprised to find one that fits them. Robert Herjavec did not feel like he was the right partner, so he pulled out.
Eric and Steven began to talk with other short women, but none of the women agreed to anything.
Lori Greiner dropped out shortly afterward for the same reason. Daymond John could not accept that they were focusing on short men.
Kevin O’Leary and Mark Cuban were found swimming in the middle of nowhere. Mark Cuban offered $150,000 for 25% equity. Steven and Eric said, Sure, what are we going to do?
Steven and Eric wanted to know what Kevin had to say. Mark stated he could not hear what Kevin had to say.
Kevin O’Leary offered the corporation $100,000 for 25% of the equity. Steven and Eric agreed to Kevin’s offer. Mark Cuban dropped out.
Steven and Eric agreed to a deal with him. Mark offered to take 25% of the company for $150,000. Steven and Eric responded very quickly, saying they were doing a great deal.
Steven responded quickly to Mark’s offer and said they’d make a deal if Mark were still in the company. Luckily, Mark did not return.
Steve and Eric requested Mark Cuban to invest $150,000 for a 25% stake in Ash and Erie. Mark accepts.
Steve and Erie left the Shark Tank stage, securing a deal from Mark Cuban in Ash and Erie.
Final Deal: Mark Cuban agrees to invest $150,000 for 25% equity in Ash and Erie.
What Happened To Ash and Erie After Shark Tank?
Steven and Eric walked tall immediately after exiting the tank, glad to have finally landed a contract following their risky decision to listen to Kevin’s offer.
Mr. Wonderful was disappointed to have been denied but appreciated the two entrepreneurs’ negotiation skills.
Steven and Eric changed the company’s name to Ash and Erie after the series premiered in October 2017, and the firm has been featured in numerous mainstream news outlets, such as CNN, CNBS, Slate, and Bustle.
Ash and Erie participated in the Accelerate Michigan Innovation Competition in November 2017.
They also participated in a pop-up store in Detroit in the fall of 2017 to gain retail experience.
Ash and Erie have begun hosting contests in collaboration with a local Detroit photography studio but face an uphill battle to establish itself in the hyper-competitive garment sector.
You can stay informed about Ash and Erie’s latest developments by visiting the company website or following the company on Twitter.
The sales of Ash and Erie boosted after its appearance on Shark Tank. They received thousands of orders online just a day after appearing on the show.
Ash and Erie got $1.2 million in venture capital funding a year after their appearance on Shark Tank. They’ve raised slightly more than $5 million since the documentary aired.
Ash and Erie are doing well and generating above $1 million in revenue annually as of 2022.
Is Ash and Erie Still In Business?
Ash & Anvil rebranded as Ash & Erie following its appearance on Shark Tank. Ash & Erie is still in business, and their shirts remain exceptional despite the brand’s change.
Ash and Erie shirts from the Classic Collection retail for $79 online, while slim-cut jeans with inseams starting at 25′′ sell for $159 online.
Ash & Erie’s total sales in May 2018 exceeded $1 million. There were about 11000 shirts sold and about 1100 pairs of pants sold.
Cuban, the NBA’s Dallas Mavericks owner, undoubtedly played a role in convincing 5’3″ retired NBA basketball great Muggsy Bogues to endorse Ash & Erie.
What Is the Net Worth of Ash and Erie?
The valuation of Ash and Erie was $8 million when it appeared on Shark Tank. The net worth of Ash and Erie is above $1 million as of 2022.