Sisters Ellie Brown and Becca Nelson have come up with a fun way to create instant party and novelty shirts. Their reusable, wearable shirt stickers give a boring white shirt personality and flare. Will the sharks give them a deal on
Shark Tank evREwares Update
- Entrepreneurs: Ellie Brown and Becca Nelson
- Business: Wearable fabric stickers for shirts
- Ask: $100,000 for 30% equity
- Result: $200,000 for 100% equity
- Sharks: Mark Cuban
Ellie and Becca came into the tank wearing their popular shirt tie stickers, and they passed out personalized samples to all of the sharks. They explained that their evREwares stickers were reusable and very durable. Their products were great for parties, sporting events and more.
Robert Herjavec was the first shark to ask about the company’s sales. The two sisters responded quickly and told him that evREwares had already reached about $600,000 in total gross revenue sales. The problem was that the products weren’t selling through at a very fast rate and sales are projected to drop from $300,000 in the previous year to a significantly less amount in 2014.
The sharks also believed that the wearable fabric stickers were too expensive to manufacture and sell. The current price point at the time of the pitch was between $4.99 and $7.99, which seemed very expensive and all of the sharks agreed. It costs about $0.50 to make according to Ellie and Becca. Kevin O’Leary exclaimed that it was the most expensive sticker on the market.
First to drop out was Lori Greiner, who had invested in a similar product and saw that the consumer need was not there. Kevin, Barbara Corcoran and Robert Herjavec went out too. Mark Cuban seemed to be the only shark interested, and he offered the ladies $200,000 for the entire business at 100% equity. After some time, they agreed to the deal. After selling their business, what happened with the company? Keep reading our evREwares update to find out!
Our evREwares update is a little bit strange because it seems that Mark never finalized the deal to buy the company after the episode aired. The two sisters were sort of stranded in a sense and were ultimately left with very few options. The company ultimately went out of business less than two years after appearing on
Would you like to find out more about the other companies featured on Season 6 Episode 14? Follow the links below for our other company updates from the episode.
For even more on companies and products, be sure to check out our Season 6 Products Page!
Shop the Shark Tank Recap Store
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!