With the goal of securing a $150,000 cash investment from the sharks for his clothing company, Swoveralls, Kyle Bergman came onto
Shark Tank 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.
- SUPER SOFT ORGANIC COTTON: Swoveralls Overalls are made with 100% organic cotton that is certified by the global organic textile standard (GOTS-certified). We only offer the high quality cotton based products.
- SUPERIOR COMFORT MEETS FUNCTION: Whether you plan on lounging at home, hanging out with friends, or just taking the dog for a walk - Swoveralls Overalls can easily be worn inside and outside, providing you with unbelievable comfort wherever you are. All Swoveralls come with adjustable straps, 6 deep pockets (including an internal zippered front pocket for valuables), and a zipper fly.
Over the last twelve months before the pitch on
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
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:
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