Bermies Swimwear Update | Shark Tank Season 9

Uki Deane came onto Shark Tank during the final episode of Season 9 to pitch his swimwear company for men. Bermies was in need of an investment from the sharks. Uki told the sharks his goal was to raise $200,000 in exchange for 20% equity. Let’s see if Uki’s negotiating skills were enough to convince the sharks to risk their money on his swimwear business and get a present-day Bermies update.

Shark Tank Bermies Update

Bermies Update

  • Entrepreneurs: Uki Deane
  • Business: Swimwear for Men
  • Ask: $200,000 for 20% equity
  • Result: No deal
  • Sharks: None

Uki told the sharks that he risked his entire life savings to launch Bermies. During the 2016 calendar year, Bermies generated a little less than $300,000 in total gross sales. Those sales are slightly up in the current calendar year, according to Uki.

BERMIES Miami Navy

Each pair of Bermies is made out of 90% polyester and 10% lycra which means they are stretchy, breathable, fast-drying but most importantly extremely comfortable. Our trunks also come with with a 4 way stretch, 100% polyester, high quality mesh liner, which means you can say goodbye to rashes and wedgies. There are two side pockets and a back pocket with velcro tab and elastic key loop. Bermies are all about comfort, quality and style at an affordable price!

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A single unit costs about $10 to produce and can be sold for $50. While the margins are respectable, only a small portion of the Bermies’ sales were directly online. Mark Cuban and Daymond John did not want to risk their money on this particular investment, so they both dropped out without making an offer.

The other sharks were also concerned about Bermies and saw it as a major risk. For that reason, all of the remaining sharks ultimately dropped out without making an offer. Bermies would leave Shark Tank without a deal with any of the sharks, but that would apparently not stop Uki Deane from pushing his company to the next level.

Let’s quickly get a Bermies update to see how the company is doing. The company’s annual revenue has tripled since appearing on the show and Bermies recently reached the $1 million milestone in a single year. Uki continues to operate his business during the 2022 calendar year with a clear goal of blowing past his previous sales accomplishments.

Despite not getting a deal on Shark Tank, we are calling this Bermies update a success!

You can find the other company updates from Season 9 Episode 24 here:

Don’t forget to take a look at our Season 9 products page! We’ve got more company updates from Shark Tank Season 9.