Are you looking for headphones that double as a fashion statement? Sheen Moaleman and Keir Dillon have created a line of headphones that cater to fashionable individuals. What will the sharks think of this trendy creation on
Shark Tank Frends Update
- Entrepreneurs: Sheen Moaleman and Keir Dillon
- Business: Fashionable headphones
- Ask: $1 million for 7.6% equity
- Result: No deal
- Shark: None
Sheen and Keir entered
The guys initially started out by partnering with Apple and Best Buy, but lost money on those partnerships. Their headphones averaged between $150 and $200 direct to consumers, and they were convinced their new necklace headphones would bring them huge income.
The new design was set to be sold between $300 and $500, with $60 spent on production per unit.
The sharks immediately expressed concern regarding numbers. Keir and Sheen claimed they were on target to get $8.7 million in sales that year, but had only sold 800,000 units by April. Their previous year’s target was $6 million, but they’d only achieved $2.9 million.
Each of the sharks were wary of the huge amount of money bleeding out of the company. Kevin O’Leary was the first to go out. Guest shark Ashton Kutcher told Keir and Sheen that they had a very pretty design but the business model, losses, and approach were worrying. He went out.
Lori Greiner shared the concerns of the other sharks and also went out, followed by Robert Herjavec. Both sharks expressed that the business model seemed unrealistic, considering the financial losses.
Mark Cuban was less worried about the losses, which he did not think out of the ordinary for the type of product. However, he considered it too big a gamble and also went out.
Sheen and Keir had to leave
Since appearing on
The designer headphones are available for purchase on the Frends company website and Amazon. If we get more info about a Frends update we will let you know!
You’ll find several products featured in Season 7 Episode 24. Follow the links below to read our other company updates for the episode.
Before you go, be sure to check out our Season 7 Products Page for even more on companies and products!