Shed Defender Dog Onesie Update | Shark Tank Season 10
Entrepreneurs Tyson and Miles Walters, pitched their dog product during
If you’re short on time, here’s a quick overview of what happened to Shed Defender after
Tyson and Miles Walters appeared on
| Shark: | Result: |
| Lori Greiner | Accepted deal for $250,000 for 25% equity |
| Kevin O’Leary | $250,000 for 33.3% equity |
| Robert Herjavec | $250,000 for 33.3% equity |
| Mark Cuban | No offer |
| Barbara Corcoran | No offer |
Shark Tank Shed Defender Update
- Entrepreneurs: Tyson Walters and Miles Walters
- Business: Dog onesie that prevents shedding
- Ask: $250,000 for 10% equity
- Result: $250,000 for 25% equity
- Shark: Lori Greiner
Tyson Walters, and Miles Walters, founders of Shed Defender, bring their company to
The patent pending Shed Defender is a onesie that contains the dog’s hair within the suit to reduce the shedding, while still allowing the dog to shed naturally. Perfect solution to contain dog hair in the house, car, or anywhere you don't want to leave a trail of hair! Spend less time sweeping and vacuuming and more time cuddling!
Those who own shedding dogs, know all too well the frustration of cleaning dog hair off of furniture, floors, and clothing. Their product is ultimately meant to put an end to all of that.
The Shed Defender is made from a light-weight, breathable fabric, that is also ec0-friendly. It’s also safe, natural, and veterinarian approved.
Additionally, the Shed Defender unzips from the bottom, just enough, so that the dog can go to the bathroom. This means that you don’t need to fully remove the onesie beforehand.
The sharks could not believe the sales numbers that Tyson and Miles mentioned when asked. After only selling the product for a little over 18 months, they told the sharks that they had $1.2 million in sales.
This actually translates to about 25,000 units of their product. Further, the sales came from their own website and Amazon.
Additionally, they just began wholesaling their products. In terms of cost, they sell nine sizes, with their smallest retailing for $39.99, and their largest for $62.99.
Manufacturing costs $6.23 for the smallest size landed, and $13.26 for the largest size. The sharks were ultimately impressed with their sales numbers and their margins.
Especially when they declared that they had nearly 80% margins, which were in place for all nine variations and sizes for the product.
The entrepreneurs further shared that although they created the product to reduce shedding, there are other perks. It turns out, through customer feedback, they’ve learned that the Shed Defender actually helps to reduce anxiety.
This is because the suit applies pressure, similarly to a weighted blanket concept.
As negotiations started, Mark Cuban expressed how impressed he was with Miles and Tyson. However, he ultimately declared that he didn’t think he could benefit them by making them an offer.
Mark eventually dropped out, followed by Barbara Corcoran. She agreed with Mark, stating it wasn’t the right investment for her.
However Kevin O’Leary decided to make an initial offer of $250,000 for a third of the company.
Robert Herjavec was also interested, so he also offered $250,000 for 33.3% equity in the company.
Lori Greiner was the last shark still in on the negotiations. She quickly undercut the offers of Kevin and Robert, by offering $250,000 for 28% equity.
After a quick counteroffer back to Lori, the three ultimately agreed to do $250,000 for 25% equity, allowing Miles and Tyson to strike a deal with Lori.
Did they continue to achieve success, following
Now let’s dive into our
However, Miles and Tyson continued operating their business, and have managed to raise their company’s annual revenue to just over a $1 million.
They continue to sell their products on the Shed Defender website, and on Amazon. They’re also available at Walmart, and PetSmart.
Check out the Shed Defender website to see what they have to offer, especially since they’ve expanded their product line to include other dog accessories.
Additionally, the company also gives back a portion of their monthly sales to shelters, rescues, and animal related non profits. Things are ultimately looking promising for Shed Defender, despite the deal falling through.
If we learn anything new about this company, we will certainly let you know. In the meantime, you can check out our other company updates from Season 10 Episode 2, by following the links below!
For even more on companies and products, be sure to stop by our Season 10 products page!
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!