Tired of wearing the same old clothes? Beloved Shirts might be able to help you break out of the mold. Jeremiah Robison’s shirt brand creates quirky shirt designs to showcase your personality. What will the sharks think of this unique clothing brand on
Shark Tank Beloved Shirts Update
- Entrepreneur: Jeremiah Robison
- Business: Fun, off-beat shirt designs
- Ask: $175,000 for 5% equity
- Result: No deal
- Shark: None
Jeremiah came to
Adult onesies, one of the biggest staples of the company, sold for $129.99, whereas t-shirts sold for $39.99. He made about 60% in profits, as each product is made to order. He hadn’t spent any money on inventory. However, this created a problem, as the pieces took a long time to get to customers.
Despite this glaring issue, Jeremiah had $2.3 million in sales over the previous 2.5 years. Another issue he ran into is the number of SKUs. Because of the sizes and unique designs, Beloved Shirts had over 22,000 SKUS on the website. These issues needed a shark’s guidance to fix.
Mark Cuban asked how Jeremiah planned to scale the business, but he wasn’t satisfied with the answer and went out as a result. Robert Herjavec and Lori Greiner followed. Robert has a conflict of interest with Tipsy Elves, and Lori didn’t think the company was investible.
Kevin O’Leary agreed with Lori, so he went out (but not before forbidding Daymond John to make a pity deal). Daymond offered $175,000 for 25%. Jeremiah tried to counter at 15%, but Daymond would only go down to 22.5%.
Jeremiah declined the deal because he didn’t want to give up that much company. He left the tank without a deal. Find out where the company is now in our Beloved Shirts update.
Our Beloved Shirts update revealed that the company is still active and very successful! Its annual revenue is estimated to be around $4 million. Through the years Jeremiah has built a great business relying on independent contractors, which definitely worked in his favor.
You can track all of the new shirt drops on the Beloved Shirts website. We will be sure to let you know of any future Beloved Shirts updates!
Want to know where the other companies featured in Season 7 Episode 21 are now? You can find our other company updates here.
Before you go, check out our Season 7 Products Page for even more on companies and products!