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Wildcoat: A Fun Approach to Winter Wear
Carlo, hailing from Boulder, Colorado, introduced his company, Wildcoat, in episode 07 of season 16 of Shark Tank. He was seeking an investment of $350,000 in exchange for a 10% equity in Wildcoat.
With a mission to add a playful twist to winter sports apparel, Carlo aims to transform the often dull and repetitive ski outfit options into something fun and exciting. Wildcoat offers high-performance winter coats that look fierce and are designed with practical features.
Each coat includes seven oversized pockets for snacks and gear, an adjustable hood that can fit over a helmet or bare head, a magnetic storm flap, and modular components that allow wearers to detach the hood, sleeves, and mitts. The coats are crafted to provide warmth in frigid temperatures, making them functional and stylish.
What is Wildcoat?
Wildcoat is a brand that specializes in producing distinctive and high-quality coats designed to keep you warm while making a bold fashion statement. Their coats are known for their unique animal-themed designs, such as the Polar Bear, Tiger, Buffalo, Grizzly Bear, and Timber Wolf coats.
These coats are warm and functional, often featuring removable parts like hoods and arms, but they also draw attention and spark conversations due to their eye-catching appearance.
Wildcoat products are popular among sports fans and outdoor enthusiasts who appreciate warmth, style, and durability. Many customers have shared positive reviews, highlighting the excellent craftsmanship, comfort, and social attention these coats bring.
Wildcoat has also been featured on platforms like Shark Tank, which has helped increase its visibility and appeal.
Who is the founder of Wildcoat?
The founder of Wildcoat is Carlo DiMeo. The idea for Wildcoat came to Carlo on a snowy day in the Colorado Rockies. He loved the social aspect of skiing and believed a fun and unique ski coat could be a great way to make friends and stand out on the slopes.
Carlo’s first creation, the original Wildcoat, was more of a novelty than a functional ski coat. It had no pockets or zipper and offered about as much warmth as a regular hoodie.
Despite its shortcomings, Carlo wore this bear coat every ski day for three seasons. During this time, he received thousands of high-fives, photos, and countless inquiries about where he got his coat.
Realizing the potential for a more functional version, Carlo created a winter-ready Wildcoat. In the spring of 2020, he began planning, designing, and testing the first line of Wildcoat. By the following spring, the first two styles, the Grizzly and the Polar, were launched.
Over four seasons, the brand expanded to seven styles with multiple iterations and upgrades, earning hundreds of five-star reviews. Wildcoat continues to grow, offering unique and functional winter coats for skiing enthusiasts.
Shark Tank Presentation: Wildcoat by Carlo DiMeo
Carlo DiMeo, a seasoned skier with over 30 years of experience, appeared on Shark Tank to pitch his business, Wildcoat, which specializes in whimsical winter apparel.
The brand aims to inject fun into traditional ski attire with coats that mimic animals like polar bears, pandas, wolves, grizzlies, and buffalos.
Investment Proposal
- Product Name: Wildcoat
- Investment Seeking: $350,000 for 10% equity
- Objective: To increase production capacity and expand marketing strategies for the high-performance winter coat brand.
- Final Deal: $350,000 for 23% equity
- Shark: Robert Herjavec
Wildcoat Features
- Design: Unique animal-themed designs that stand out on the slopes.
- Functionality: For added convenience, seven oversized pockets, an adjustable hood, and magnetic storm flaps.
- Versatility: Modular design allows for customization by detaching the hood, sleeves, and mitts.
- Material: Made from faux fur to ensure no animal harm, maintaining ethical production standards.
- Pricing: Retail price is $449, with production costs between $120 and $130.
Sharks’ Questions and Concerns about Wildcoat
- Kevin O’Leary: Questioned ethical production practices; was reassured by Carlo’s confirmation of using faux fur.
- Mark Cuban: Criticized the $449 price point as high for a novelty item and doubted the business’s scalability.
- Lori Greiner: Concerned about the reliance on event-driven sales and online platforms without retail partnerships.
Wildcoat Business Background
- Origin Story: Wildcoat was inspired by Carlo’s transformation of a bear costume into a ski coat, which garnered attention and led to the creation of the brand.
- Sales History of Wildcoat:
- 2021: $135,000 in sales
- 2022: $375,000 in sales
- 2023: $505,000 in sales
- Projected Revenue: $700,000 for 2024, highlighting significant growth potential.
Marketing Strategy of Wildcoat
- Initially focused on online sales through the company’s website.
- Shifted to in-person events such as Bears and Bills games, the X Games, and other ski gatherings, resulting in a 50%-70% sales increase following these events.
Sharks’ Investment Offers
- Robert Herjavec: Offered $350,000 for 25% equity, drawing on his success with similar novelty apparel ventures like Tipsy Elves.
- Daymond John: Proposed $350,000 for 30% equity, expressing interest in joining forces given the brand’s unique appeal.
Negotiations and Final Deal
- Carlo attempted to negotiate by countering with 15% equity, which Robert and Daymond declined.
- He then increased his counteroffer to 20% equity. Robert remained firm on his initial offer of 25%.
- After further negotiation, Carlo proposed offering 23% equity. Both sharks were willing to accept this revised offer.
- Despite Robert and Daymond agreeing to the terms, Carlo ultimately partnered with Robert Herjavec at $350,000 for 23% equity.
Carlo successfully secured a deal with Robert Herjavec on Shark Tank for an investment of $350,000 in exchange for 23% equity in Wildcoat. This partnership is expected to aid in scaling the business while maintaining its unique and ethical brand identity.
What Happened To Wildcoat After Shark Tank?
Carlo DiMeo, the founder of Wildcoat, described his brand to Voyage Denver as creating the most exciting winter coats in the world. These coats and hoods resemble animals with heads, teeth, and clawed mittens but are made from 100% fake fur. They also offer practical features like waterproof, adjustable hoods that can fit over helmets and many pockets.
They added a feature that lets you zip off the sleeves, hood, and mittens to make the coats more versatile for spring. This design became popular with fans of cold-weather sports and even caught the eye of Chicago Bears fans and other sports teams with bear mascots.
Since its start, Gian Carlo and his team have worked hard to grow Wildcoat. Now, they offer a variety of styles and have received hundreds of five-star reviews from happy customers. Their collection has expanded to include animal-themed coats like the Black Bear, Wolf, Panda, Polar Bear, Timber Wolf, and Tiger Coat.
Wildcoat coats range in price from $299 to $460, while the hoods are priced at $99. They also sell other clothing items like hoodies, t-shirts, beanies, caps, and sweatshirts. In December 2024, they launched The Claw Koozie, which keeps drinks cold.
You can check out and purchase Wildcoat products exclusively from their official website. Additionally, Wildcoat supports multiple local non-profit organizations, donating to help animals of all kinds.
Wildcoat Shark Tank Update
Since their Shark Tank appearance, Wildcoat has been busy with some fresh additions. They now offer the Tiger Coat and the Timber Wolf Coat. These coats boast lifelike animal faces and improved Velcro pockets that are more practical for everyday use. They’ve also upgraded the materials to avoid those annoying zipper snags.
A standout feature is the modular design, allowing parts like the sleeves, hood, and mittens to be zipped off. This flexibility has made these coats a favorite among sports fans who brave the cold, including die-hard Chicago Bears supporters.
On top of that, Wildcoat introduced The Claw Koozie, a fun accessory designed to keep your drinks chilly. You can also follow Wildcoat on Instagram and Facebook for the latest updates about their offerings.
What is the net worth of Wildcoat?
Wildcoat’s valuation was $3.5 million when it appeared on Shark Tank. However, Wildcoat’s current net worth is estimated to be $1.5 million after securing an investment from Robert Herjavec on Shark Tank
