Beard King Shark Tank Update | Beard King Net Worth

Beard King is a novel grooming product designed to simplify beard trimming and clean the surrounding area. This product gained significant attention after appearing on Season 7 of the entrepreneurial reality TV show Shark Tank.

The product, officially called the “Beard King Beard Bib,” is a specialized apron-like bib designed for those who groom their beards at home. The Beard Bib is made from high-quality, durable material designed to catch falling beard hairs as they’re trimmed, effectively preventing a mess around the sink or bathroom floor. 

The Beard Bib’s design is quite innovative. The bib is worn around the neck, much like a traditional bib. However, it has suction cups attached to its opposite ends, which can be stuck onto a mirror, creating a net to catch the trimmed hairs.

The suction cups can easily be detached once the grooming procedure is completed so the hair can be disposed of in a bin without mess. The bib is also completely adjustable, making it suitable for different sizes. 

This Beard King Beard Bib stands out because it is easy to use and convenient. It is lightweight and compact, making it portable and easy to store.

The Beard Bib also comes with a travel pouch, allowing it to be easily packed for trips. The Beard King Beard Bib is machine washable, offering easy maintenance and long-term usability.

Why is the Beard King a good choice? Its simplicity and effectiveness make it an excellent product for anyone who trims their beard at home and wants to avoid the tedious cleanup process.

The product is designed to save time and effort by providing a simple solution to a common problem. The Beard King Beard Bib is practical, stylish, and comfortable, making grooming a more enjoyable experience.

Furthermore, its affordability and durability make it a cost-effective solution for maintaining cleanliness during grooming sessions. It’s a perfect gift for bearded individuals and a great addition to a personal grooming kit.

What Is Beard King?

Beard King is a company that offers grooming products, especially for beards. Their most well-known product is the Beard Bib, designed to catch facial hair clippings during shaving to prevent messes.

The Beard Bib is essentially an apron attached to a mirror, creating a net that catches the hair as it’s trimmed or shaved off. In addition to the Beard Bib, Beard King sells grooming products, such as beard oils, brushes, and combs.

Beard King was established in 2014 by a husband-and-wife duo, Nicholas Galekovic and Alessia Galekovic. The idea for the Beard Bib came from Nicholas, who, like many men, had a problem with beard trimmings all over the bathroom sink after shaving.

His wife Alessia was also tired of the constant mess. They decided to devise a solution, which led to the creation of the Beard Bib. The Beard Bib is made from a soft, lightweight, water-resistant material that is easy to clean.

Beard King features adjustable velcro straps to fit different neck sizes and suction cups with built-in levers to secure it to the mirror. The product is designed to save time in post-grooming cleanup.

In addition to the Beard Bib, their product line includes beard oils, balms, brushes, combs, and other grooming accessories. These products help maintain and style facial hair while promoting healthier growth.

Beard King’s products are sold online on their official website, Amazon, and select retail stores.

Who Is The Founder Of Beard King?

The founders of Beard King are Nicholas and Alessia Galekovic, a husband-and-wife entrepreneurial team. Alessia was tired of repeatedly cleaning up the beard trimmings left behind by Nicholas in the sink after his grooming sessions.

This recurring annoyance spurred the couple to devise a solution, creating the Beard King bib. Beard King bibs were conceived to make beard grooming simpler and cleaner.

The bib, designed to catch the falling beard trimmings during shaving, was a novel product targeting a common, unaddressed problem faced by many individuals who groomed their beards at home.

Before their appearance on Shark Tank in Season 7, the Beard King had gained some traction primarily due to a viral video they produced, which resonated with many viewers facing the same grooming issue.

The product had already accumulated $80,000 in sales by the time of their Shark Tank pitch. Each bib cost $7 to manufacture and retailed for $29, illustrating a good profit margin and demonstrating the product’s viable market.

However, before the Shark Tank’s appearance, Beard King faced challenges scaling up their manufacturing to meet the growing demand. They had a patent pending for their product and garnered interest from some wholesalers, but they were not equipped to fulfill larger orders.

The exposure from Shark Tank, even though their deal with Lori Greiner did not ultimately go through, likely helped propel the Beard King bib further into the market. By 2022, the company was reported to have an estimated annual revenue of around $1 million.

Despite the initial manufacturing and scaling challenges, Beard King established its place in the grooming market, and its products are now available online at Walmart.

How Was The Shark Tank Pitch Of Beard King?

The Beard King presentation on Shark Tank was brought to life by the company’s founders, Nicholas and Alessia Galekovic, who confidently pitched their product, the Beard King bib, hoping to secure a substantial investment.

The couple portrayed themselves as the royalty of their kingdom, with Nicholas referring to himself as “protector of the face follicles” and Alessia presenting as the queen.

Nicholas and Alessia were seeking an investment of $100,000 in exchange for 20% equity in their company, valuing Beard King at $500,000. Their pitch revolved around the perennial messiness associated with male grooming, specifically focusing on facial hair.

They introduced the Beard King bib as a revolutionary product designed to alleviate this problem, presenting a video demonstrating its usage and efficiency. The bib attaches around the user’s neck, sticks to the mirror, and catches hair during grooming, making cleanup a breeze.

Nicholas and Alessia revealed that in eight months, they had sold $140,000 worth of products, $80,000 of which came in the last month alone, thanks to a viral instructional video.

The Sharks were impressed by these figures, and Kevin O’Leary, also known as Mr. Wonderful, complimented the couple on their solid profit margins. The bib’s production cost was $7 per piece, and it retailed for $29, giving them high-profit potential.

However, they needed the Sharks’ help to increase these margins and scale manufacturing further to meet growing demand.

The Sharks had varied views on the product. Robert Herjavec, initially viewing the product as a joke, was surprised by the company’s impressive reach and sales.

However, he saw no clear way his money would significantly accelerate the business, prompting him to drop out.

Mark Cuban admired their ability to create viral content but wanted assurance that their success was not a one-hit-wonder. He wanted to see more products in the Beard King lineup, so he opted out when this wasn’t presented.

Kevin O’Leary deemed the beard bib an interesting product but not a fully-fledged business. He also noted that many of their other products could be easily found elsewhere.

Guest shark Chris Sacca found himself outside his comfort zone with individual products and declined to invest.

The remaining shark, Lori Greiner, recognized the product’s appeal, especially to women who often cleaned up after men’s grooming sessions. She noted that this could potentially make the product popular among female buyers.

Lori was ready to invest but wanted 51% equity due to the perceived risk. Nicholas countered this with an offer of 45% equity, which Lori accepted.

However, the deal with Lori Greiner didn’t materialize after the show. The company was able to scale on its own, expanding its line of products and seeing sales explode.

Despite not finalizing the Shark Tank deal, the Beard King bib has proven successful and remains available.

Final Deal: Lori Greiner agreed to invest $100,000 for a 45% stake in Beard King.

What Happened To Beard King After Shark Tank?

Beard King, a company founded by Nicolas and Alessia Galekovic, experienced significant growth after appearing on the TV show Shark Tank. Despite not sealing the deal with “Shark” Lori Greiner, who initially agreed to a 51% equity deal, the exposure from the show bolstered the company’s sales dramatically.

Shortly after their Shark Tank episode aired, Beard King expanded its product line beyond the beard bib to include oils and brushes. This expansion directly resulted from the sales explosion following their television appearance.

Customer reviews on Amazon, where they began selling their products, were largely positive, and the company was even praised for the beard bib being a “marriage saver” due to its mess prevention during grooming.

By the end of 2016, Beard King was on track to achieve $1 million in sales, an impressive feat given they had managed to do so without any financial aid from the Sharks.

The business continued to evolve and innovate, adding a ‘Beard Queen’ section to its website, selling company-emblemed t-shirts and novelty underwear.

However, it underwent significant changes in the years that followed. In 2019, the company was sold to Raj Patel for an undisclosed amount and changed hands once more to another undisclosed buyer afterward.

As of 2023, the company is still operational but with a much-scaled-back offering. They have ceased selling beard oil brushes and discontinued the Beard Queen selection.

Their original product, the beard bib, remains their sole product offering and is available exclusively on Amazon. Additionally, Beard King no longer operates its official website.

As for the founders, after selling Beard King in 2019, Nicolas Galekovic went on to establish Brandopoly, a brand management solution company. However, some inactive pages on the company’s website cast doubt on the business’s current operational status.

In 2020, he launched another venture, Flygiene, which offers travel-sized products like disinfectant sprays, hand sanitizers, wipes, face masks, and other hygiene-related products.

Despite the dramatic changes and the sale of Beard King, the entrepreneurial spirit of the Galekovics is still thriving.

Beard King Shark Tank Update

After their appearance on Shark Tank, Beard King received much attention and exposure. The show provided them a platform to showcase their products and business to a large audience of potential customers. This increased visibility resulted in a surge in sales and popularity for the company.

The exposure from Shark Tank allowed Beard King to expand their customer base significantly. They gained new customers interested in their unique beard grooming products and solutions.

The increased sales and customer base helped Beard King establish itself as a reputable brand in the beard grooming industry. During their appearance on Shark Tank, Beard King secured a deal with one of the sharks.

This partnership provided them with additional resources, expertise, and support to further grow their business. The shark’s involvement brought valuable connections and guidance to help Beard King navigate the competitive market.

Overall, the experience on Shark Tank was instrumental in the success of Beard King. It gave them a platform to showcase their products, reach a wider audience, and secure a partnership that contributed to their growth and expansion in the beard grooming industry.

Is Beard King Still In Business?

Our research shows that Beard King is still in business. However, it has undergone significant changes since its appearance on Shark Tank. The company was sold in 2019 to Raj Patel for an undisclosed amount and has since changed hands again to another undisclosed buyer.

The company no longer operates an official website and now sells its products solely through Amazon. Beard King has also streamlined its product line.

As of 2023, the company has ceased selling beard oils and brushes, focusing instead on its original product, the Beard King Beard Bib Apron.

The Beard Queen selection, which once included t-shirts and thongs, has also been removed from their offerings.

The husband and wife team, who founded Beard King, Nicholas and Alessia Galekovic, have moved on to other ventures. Nicholas founded Brandopoly, a brand management solution company, in 2019.

However, the current status of this company is uncertain due to some website errors. In 2020, he also launched Flygiene, which offers travel-sized products like disinfectant sprays, hand sanitizers, sanitizing wipes, face masks, and more.

While the company has evolved and changed hands since its inception and Shark Tank appearance, it continues to operate and sell the Beard King Beard Bib Apron on Amazon.

What Is the Net Worth Of Beard King?

According to our research, the net worth of Beard King is estimated to be $7 million. The valuation of Beard King was $250,000 after securing an investment from Lori Greiner on Shark Tank.

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