We’ve all seen handmade afghans at thrift stores. Schuyler Ellers saw a huge opportunity in these heritage textiles. His company, Lord Von Schmitt, repurposes handmade afghans to make interesting new clothing. It’s very popular with the LGBTQIA+ and festival communities! What will the sharks think of these funky fashions? Keep reading our
Shark Tank Lord Von Schmitt Update
- Entrepreneur: Schuyler Ellers
- Business: Crocheted clothing made from repurposed afghans
- Ask: $100,000 for 10% equity
- Result: No deal
- Shark: None
When Schuyler brought his crocheted fashions to the tank, the sharks tried them on and strut around in an impromptu fashion show. They seemed to enjoy them, which is a trend among customers of Lord Von Schmitt. Over the last four years, the company had $188,000 in sales. Fashions are handmade, but some are also outsourced. The sharks were less than impressed with the sales.
Mark Cuban is the first to drop out because Schuyler isn’t charging enough. He wants Schuyler to see his work as art instead of fashion, so he should increase his prices. On the other hand, Robert Herjavec thought that they were too focused on art and needed to lean more into fashion. He goes out, too.
It isn’t for Lori Greiner, so she dropped out. Daymond John thought it was too early, so he dropped out. Finally, Kevin O’Leary was the only shark remaining. He said the business was uninvestable and didn’t make an offer. Unfortunately, Lord Von Schmitt walked out of the tank without a deal.
Lord von Schmitt is still a small company, but they are working towards growth. Our Lord Von Schmitt update research revealed that the company sells on their website as well as in an Etsy shop. The shop currently has about 3,000 sales. It also looks like Lord Von Schmitt took Mark’s advice, as their prices are higher than they were during filming.
If you’re curious about the other products featured in Season 11, Episode 22, follow our company updates here:
After you get caught up on this episode, make sure to check out our company updates from the rest of Season 11 on our Season 11 products page.