Tones of Melanin Fashion Line Update | Shark Tank Season 14
Ashley Jones has a fashion company, that has redesigned some of the traditional fashion for college kids in minority communities. Will her product line earn her a deal on
Shark Tank Tones of Melanin Update
- Entrepreneurs:Â Ashley Jones
- Business: Collegiate fashion for minority communities
- Ask: $300,000 for 15% equity
- Result:Â $300,000 for 12% equity
- Sharks:Â Mark Cuban
Ashley brought her fashion line, Tones of Melanin to the tank. She says, that historically black colleges and universities, have been underrepresented in terms of collegiate wear. Her brand is working to fix that.
The company’s iconic reversible jacket has relatively good margins considering that it can be created for around $30, and sold online for $165. Many of their alternative products are also experiencing similar margins, which was good news for all of the sharks that were considering their investment.
Kevin O’Leary wanted to hear more about the company’s sales numbers. Ashley quickly responded, stating that she had more than $3 million in gross revenue sales dating back to 2017.
Daymond John, Lori Greiner, Barbara Corcoran and Kevin O’Leary all dropped out without making an offer. Mark Cuban however was interested. He offered $300,000 for 15% equity. Ashley quickly countered with 12%, and Mark Cuban accepted. What happened next for the brand? Keep reading our Tones of Melanin update to find out!Â
We have great news to share in our Tones of Melanin update! The company is still in business in 2023, and has been doing better than ever.Â
Would you like to learn about the other companies featured on Season 14 Episode 22? Follow the links below!
For even more on companies and products, be sure to stop by our Season 14 Products Page!
