Collars & Co. Update | Shark Tank Season 14

While working in New York, Justin Baer found traditional dress shirts uncomfortable and impractical for transitioning between formal and casual settings. Frustrated by their stiff feel during long workdays, he created Collars & Co., polo shirts with dress collars that pair with suits and adapt easily for after-work wear. This solution offers professionals both comfort and versatility. Will any of the sharks invest in Justin’s business? Find out in our Collars & Co. update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to Collars & Co. after Shark Tank.

Justin entered Shark Tank Season 14, seeking $300,000 for 4% equity in his men’s fashion business. After his pitch, he secured a deal with Mark Cuban and Peter Jones for $300,000 for 10% equity + a $700,000 line of credit.

In terms of a Collars & Co. update, the company has expanded its product line, partnered with professional athletes, and grown to over $20 million in lifetime revenue.

Shark	Result
Mark Cuban and Peter Jones	Accepted offer of $300,000 with a $700,000 line of credit for 10% equity.
Kevin O’Leary	$300,000 for 10% equity.
Daymond John	Mentorship
Lori Greiner	No offer

Shark Tank Collars & Co. Pitch

• Entrepreneur: Justin Baer
• Business: Men’s Fashion
• Ask: $300,000 for 4% equity
• Result: $300,000 for 10% equity + $700k line of credit
• Sharks: Mark Cuban and Peter Jones

Justin entered Shark Tank seeking an investment in his innovative polo shirts that offer the look of a dress shirt with unmatched comfort.

He explained that the investment would fund inventory, marketing, and team building to support the company’s rapid growth and meet surging demand.

Moreover, his pitch aimed to secure both financial support and mentorship to take his rapidly growing company to the next level.

Collars & Co. is a direct-to-consumer fashion brand that makes men’s clothing. Their signature product is a polo shirt with a dress collar.

Additionally, it blends the polished look of a dress shirt with the comfort of a polo. The brand focuses on solving common wardrobe problems like stiff fabrics and bulky layers.

The dress-collar polo combines the structure of a dress shirt collar with the comfort of a polo. Justin emphasizes its versatility, explaining it pairs well with ties and can be worn under sweaters or vests.

The sharks examined the samples, and Lori Greiner commented on the material, noting its soft and flexible quality.

Justin showcases the four collar styles, underlining the product’s suitable appeal.

Guest shark Peter Jones finds the concept intriguing but questions the $7.5 million valuation.

However, the business has done $5.4 million since launching in 2021, with a 20% net profit margin.

Peter requested the cost details, and Justin explained that the shirts cost $15 to produce and sell for $65 to $75.

Daymond John is the first shark to exit, citing his dislike for the mid-town look and the valuation as his reasons.

Mr. Wonderful highlights the company’s rapid growth and praises Justin’s execution skills, which were shaped by two decades of internet marketing experience.

Meanwhile, Lori says this isn’t the right investment for her. She’s out.

Kevin O’Leary breaks his usual hesitation toward apparel investments and offers $300,000 for 10% equity.

Justin immediately declines, arguing that the offer undervalues his company, which is growing 28% monthly and has no external investors.

Peter offers $300,000 for 10% equity, highlighting his global reach and infrastructure, but Justin insists the company is worth $20 million.

In contrast, Mark Cuban asks Justin what he needs, and Justin explains he requires funds for inventory, marketing, building a team, and mentorship.

Daymond offers mentorship and urges Justin to reconsider the 10% offers, while Peter warns about the risks of fashion trends fading.

Mark and Peter team up, proposing $300,000 with a $700,000 line of credit for 10% equity.

Justin counters with 5%, and this surprised the sharks.

In response, Kevin exits, frustrated by the lack of compromise. Meanwhile, Peter and Lori stress the value of a shark’s support.

However, Justin continues to argue that the $3 million valuation is too low, and Mark and Peter walk away after Justin resists further.

Mark and Peter give Justin one last chance, offering $300,000 with a $700,000 line of credit for 10% equity. Justin finally accepts.

Let’s get a Collars & Co. update to see where Justin is today.

Shark Tank Collars & Co. Update

Our Collars & Co. update found that the deal with Mark Cuban and Peter Jones closed successfully.

Fast forward two months after airing, and Collars & Co. had done $8.5 million in lifetime sales.

Further, our Collars & Co. update found that the company has gone on to partner with professional athletes like Tiki Barber and Sir Nick Faldo.

By the end of 2023, Collars & Co. had grown to over $20 million in lifetime revenue.

The future is looking bring for our next Collars & Co. update.

For more updates on companies from Shark Tank Season 14 Episode 6, be sure to check the links below:

• Square Keg Update
• Nana Hats Update
• Wondry Update

Before you go, check out our Shark Tank Season 14 page for more updates