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 order of business 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.
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.
While the margins seemed acceptable to the sharks, they still wanted to learn more about the Swoveralls performance.
Over the last twelve months before the pitch on
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
Let’s look at our Swoveralls update to see how the company is doing after
In the years that followed, Kyle expanded the company catalog and raised his company’s revenue to an estimated $4 million per year. In addition, he’s also managed to survive the COVID-19 pandemic by making masks and selling them.
While this might not be the exciting Swoveralls update that you’re looking for, 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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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!