Bethesda based clothing line Collars & Co. was featured on the November 11 episode of Shark Tank on ABC. Many may have seen the clothing company’s signature item, the “Dress Collar Polo”, a buttery soft polo with a standard English spread collar that is said to be more comfortable than a normal collared shirt. Collar & Co went on Shark Tank seeking $300K for 4% equity at a $7.5 Million valuation from the sharks. Continue reading if you want to know how it went.
According to its website, Collars & Co.’s mission is to “provide men and women with extremely high quality clothing that not only looks great, but feels amazing as well.” The business sells shirts, sweaters, underwear, and accessories. Bethesda resident Justin Baer presented his product, asking for $300K for a 4% equity (valuation of $7.5M). The business launched in 2021 and went viral on TikTok, leading to 500 orders off the bat and $40K in revenue the first month after the video’s release.
Due to supply chain issues, Baer decided he needed a shark to continue Collar & Co.’s success, which had garnered nearly 70k followers on TikTok last month and an additional 7k since the show aired. In the year since his company opened, Baer has sold 92,000 shirts for $5.4 million and has netted 20% profit. The shirts cost $15 to make and sell for $65-$75.
“Mr. Wonderful” Kevin O’Leary offered $300K for 10% equity, which was quickly rejected by Baer. British businessman Peter Jones states that he is worried the clothing will go out of style, but still offers $300K for 10% equity (like Mr. Wonderful). Baer maintains that he wants $300K for 4% until Mark Cuban joins Jones on the deal. Baer, Jones, and Cuban end up agreeing on a deal of $300K for 10% equity with a $700k line of credit.
Collars & Co. launched a pop-up on Sunday, November 20 at Tysons Corner in Northern Virginia. The pop-up is located on the first floor in front of Saks Fifth Avenue and will remain open until Sunday, December 4.
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FEST OF SPRING Caribbean Wine Food & Music Festival
Get ready to experience the vibrant colors, tantalizing flavors, and infectious rhythms of the Caribbean at the FEST OF SPRING Caribbean Wine Food & Music Festival! Hosted by RHU LLC, this exciting festival is set to take place on May 18, 2024, at the picturesque 16700 Barnesville Rd in Boyds, MD.
Step into a world where the Caribbean spirit comes alive! From 12:00 PM onwards, immerse yourself in a sensory journey that celebrates the unique culture, cuisine, and music of the Caribbean. Whether you're an African American, a Reggae or Soca music enthusiast, a wine lover, or part of the vibrant Caribbean diaspora, this festival promises to delight and captivate you in every way.
Let the enticing aromas of mouthwatering Caribbean dishes tantalize your taste buds. Feast on traditional delicacies prepared by expert chefs, showcasing the rich and diverse culinary heritage of the Caribbean. Indulge in flavorful jerk chicken, succulent seafood, and delectable plantain dishes that will transport you straight to the islands.
Accompanying the culinary extravaganza is a carefully curated selection of premium wines, ensuring the perfect pairing for your palate. Sip on fine wines from renowned vineyards, each sip a reflection of the Caribbean's vibrant spirit. Discover new flavors, expand your wine knowledge, and savor unforgettable moments with every glass.
As the sun sets, get ready to groove to the infectious rhythms of Caribbean music. Feel the pulsating beats of reggae, soca, dancehall, and calypso, moving your body to the lively melodies. Live performances by talented musicians and performers will keep the energy high, ensuring a night of unforgettable entertainment.
Don't miss this opportunity to embrace the Caribbean spirit and celebrate the arrival of spring in style! Tickets are available on AllEvents, so secure your spot today. Join us at the FEST OF SPRING Caribbean Wine Food & Music Festival, where cultures collide and unforgettable memories are made.
LIVE PERFORMANCES By: CULTURE Feat. Kenyatta Hill, EXCO LEVI, IMAGE BAND, RAS LIDJ REGG'GO with Special Guest SUGAR BEAR FROM E.U. & MORE! & MORE!
MUSIC By: DJ ABLAZE, DJ SMALLY & NAJ SUPREME
2 NIGHT Camping packages available: RV/CAMPER $200 | TENTS $150 Starting on Friday May 17 @ 5pm | 30 RV SPACES | 30+ TENT SPACES
KIDS 12 & UNDER FREE!!!
