Swoveralls Update | Shark Tank Season 10

With the goal of securing a $150,000 cash investment from the sharks for his clothing company, Swoveralls, Kyle Bergman came onto Shark Tank with the hopes of earning a deal for his company. Before we get a Swoveralls update to see how the company is doing since appearing on Shark Tank Season 10, let’s see if any sharks ultimately decided to partner with Kyle.

Shark Tank Swoveralls Update

Swoveralls Update

  • Entrepreneurs: Kyle Bergman
  • Business: Clothing
  • Ask: $150,000 for 15% equity
  • Result: No deal
  • Sharks: None

The first topic of discussion after passing out samples was the margins for a single unit of Swoveralls. Kyle told the sharks that it costs him about $33 to have a single unit produced, while he is capable of selling it for just under $100. While the margins seemed acceptable to the sharks, they still wanted to learn more about the company’s performance.

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Over the last twelve months before the pitch on Shark Tank, Kyle’s company, Swoveralls, managed to generate about $200,000 in revenue. All of the revenue came from sales through Amazon’s marketplace. Swoveralls also managed to expand to different sizes and colors after raising $75,000 from Kickstarter.

Barbara Corcoran appreciated the company’s financial performance but ultimately dropped out because she believed that the company’s clothing may be taken down by newer fashion trends that may arise in the future. Mark Cuban and Kevin O’Leary also dropped out for similar reasons.

With two sharks remaining, Kyle was hoping to secure a deal with one of them. Lori Greiner and Daymond John ultimately dropped out and forced Swoveralls to leave Shark Tank without a deal. Let’s look at our Swoveralls update to see how the company is doing after Shark Tank.

In the years that followed, Kyle expanded the company catalog and raised his company’s revenue to $4 million per year. In addition, he’s also managed to survive the COVID-19 pandemic by making specific types of masks and selling them.

While this might not be the exciting Swoveralls update that you’re looking for, but it’s nice to know that Swoveralls has managed to survive and grow, even without a deal from any of the sharks.

You can find the other company updates from Season 10 Episode 20 here:

Don’t forget to take a look at our Season 10 products page! We’ve got more company updates from Shark Tank Season 10.