Buck Mason Men’s Fashion Update | Shark Tank Season 6
With less than 2% of clothing sold in America actually being made in America, Sasha Koehn and Erik Schnakenberg wanted to offer clothing options for men that were American made. Their products are high quality, affordable and focus on the basics, because men often get overwhelmed with clothing choices. Will their company earn them a deal on
Shark Tank Buck Mason Update
- Entrepreneurs: Sasha Koehn and Erik Schnakenberg
- Business: American made men’s fashion
- Ask: $200,000 for 8% equity
- Result: No deal
- Sharks: None
Sasha and Erik brought their American made men’s fashion line, Buck Mason to the tank. Because they believed that most guys don’t have time to shop or found it overwhelming, they offer their customers curated packages of 3-6 pieces of clothing that all work together. These packages can be ordered on their website, but individual pieces can also be purchased.
At the time of filming, all of their sales were directly to customers through their own website, with sales reaching $300,000 in the previous eight months. A traditional pair of jeans from their line sells for $135.00, while their tee-shirts sell for $24.00 and their button-down shirts sell for $88.00. With average sales numbers and reasonable margins, the sharks were certainly interested in Sasha and Erik’s clothing brand.
Mark Cuban was not interested in being an investor in the fashion industry, so he dropped out. Lori Greiner loved that the products were American made but she didn’t think she’d be the right partner, so she dropped out. Robert Herjavec was impressed with their sales numbers, but he had too many concerns, so he went out too. Daymond John felt that the company would be too costly, so he dropped out next.
Kevin O’Leary said that the only offer he could make was $200,000 in exchange for 50% equity. The guys countered Kevin with $200,000 for 15% equity, plus a $100,000 line of credit, and he dropped out. Then, at the last moment, Robert came back in to make an offer of $200,000 for 25% equity plus $100,000 line of credit to fund inventory.
Sasha and Erik countered Robert at 17% equity but he wouldn’t budge. Sasha and Erik walked away without a deal. What happened next for their company? Keep reading our Buck Mason update to find out!
We have good news to report in our Buck Mason update. Though Sasha and Erik failed to get a deal on
Would you like to find out about the other companies featured on Season 6 Episode 26? Follow the links below for our other company updates from the episode.
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Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!