What Happened to Buck Mason After Shark Tank?
What is Buck Mason?
Buck Mason is a premium clothing brand that specializes in button-up shirts, chinos, and other items for the modern gentleman.
Buck Mason is fully online, with physical stores in Los Angeles, New York, and San Francisco. Buck Mason was founded in 2013 by Sasha Koehn and Erik Allen, who lived next door to each other in Venice, California.
Buck Mason knits all of their textiles in-house, ensuring the best quality from the yarn to the fabric. It’s not cheap; a single tee shirt may cost $10 or more in fabric alone, but their goods are meant to last generations rather than seasons.
Buck Mason obtains their delicate, long-grain cotton from the world’s best cotton producers.
While some of their pieces, such as their raw denim jeans, may look slightly structured at first, they are designed to last a lifetime and improve with each wash and wear.
Who formed Buck Mason?
Buck Mason was formed in 2013 by Sasha Koehn and Erik Allen, who were neighbors in Venice, California.
Buck Mason was founded by Sasha Koehn and Erik with the express goal of creating updated, modern American classics for everyday wear that are easy, look better with age, and fit perfectly with how they live their life.
Since starting with only a t-shirt, they’ve added dozens more goods to the Buck Mason uniform of jeans and shirts, as well as a clientele of males who are equally driven to quality and a timeless aesthetic.
While such prices may appear to be exorbitant, they are equivalent to other high-end designer apparel in the same style, such as the perfect five-pocket jean, a well-fitting oxford, or the classic trouser.
They each had a vision for their closets: classic pieces in tried-and-true hues that would stand the test of time.
Buck, they reason, is nothing more than their dream closet. As a result, the two of them established Buck Mason in order to provide American-made, high-quality clothing at a reasonable price.
They founded the company to create employment in America and to provide high-quality, trendy clothing for American men. Only 3% of clothing purchased in the United States is made in the United States, but Buck Mason is defying the trend.
Buck Mason clothing is not cheap: a tee costs $24, an Oxford shirt costs $88 and a pair of pants costs $135.
What Happened to Buck Mason’s Pitch on Shark Tank?
Because the business is growing and there are several job openings on their website, they both decide to seek out a Shark who can provide cash and advice for development.
Sasha and Erik entered the Shark Tank seeking $200,000 for an 8% stake in their company, worth $2.5 million.
They dressed in clothes inspired by Erik’s father. They are avoiding current trends in favor of creating high-quality, simple men’s clothes. They hand out samples and describe their direct sales technique, which includes both single things and packages.
Mark complains about the price of the jeans, but they explain that it is due to the fact that they are made in the United States.
They made $300,000 in sales in a single year, and 38% of their customers repurchase. They attract customers using social media, specifically Instagram, and as a result, customer acquisition is nearly non-existent. They each invested $10,000 and anticipate earning $500,000 in a year.
Kevin declares that he would pay $200,000 for a 50% stake in the company since it was still too far away from profitability.
They have claimed that they will not give up more than 15% of the shares in their firm. Kevin claims he was unable to attain that amount.
They counter with $200,000 for a 15% stake in their company, a $100,000 line of credit, and lifetime free apparel.
Robert steps in and offers $200,000 for a 25% stake in the company and a $100,000 line of credit, telling them not to respond.
Mark tells them that Robert’s proposition was sound since they would benefit much from his services and the items he can provide.
However, they are hesitant to give up so much ownership and make a counter-offer of $100,000 in return for a 17.5% stake in their company. Robert refuses to compromise, and the pitch ends without a deal.
Buck Mason After Shark Tank: What Happened?
Following the Shark Tank episode, they indicated that they were unable to seal the deal because they evaluated the firm’s value to be between $1.5 million and $2 million, whereas Robert’s offer was much less.
Every month for the first year following their launch, the firm rose by 20% to 100%.
They now have 12 retail sites in California, New York, Austin, and Atlanta, with plans to add another half-dozen in 2021, and yearly sales is roughly $16 million.
Buck Mason’s competitors
The market is crowded with rivals for the firm. Harrods Limited, John Lewis Partnership plc, Scanstation Computers Ltd, Selfridges & Co. 3,000, Harvey Nichols, Rosary Bay Limited, Soraya Interiors, and eClerx Services LTD are among those involved.
Buck Mason’s net worth
The company valuation was $2.5 million during and after the pitch, since then the company is still in business and hence the company’s net worth might have been more than that of pitch.
Buck Mason FAQs
Is Buck Mason clothing expensive?
Buck Mason clothing is not cheap. A tee costs $24, an Oxford shirt costs $88 and a pair of pants costs $135. But, if you take into consideration the quality of their products as well as the longevity you will get out of them, it’s not a bad investment.
How does Buck Mason earn money?
The firm sells their products directly to their customers through the internet and through their dealers.
What is Buck Mason’s mission?
Buck Mason’s mission is to provide high-quality, stylish clothing at a reasonable price. They want their customers to be able to live out their American dream without being financially burdened while they look good and feel great.
How old are the founders?
Buck Mason was founded by Sasha Koehn and Erik Allen, who were neighbors in Venice, California.
What is the Best Suit of Buck Mason?
The Best Suit of Buck Mason is the Oxford shirt, which is sure to please any man. It’s a classic and timeless piece that can be worn casually or dressed up.
What is the material uses to make Buck Mason?
The main material used to make Buck Mason clothing is cotton.
What are the other materials used to make Buck Mason?
Buck Mason clothing is made up of 100% cotton and they use a lot of it. They use organic, fair trade cotton that comes from farms in the United States and not China. It’s just as well-crafted as their jeans, and it’s easy to wash and wear for a long time.
How do I wash Buck Mason?
Customer can wash Buck Mason clothing normally as they would wash any piece of clothing. It shouldn’t shrink too much or fade after a few washes.
How often do I wash my buck Mason clothing?
This depends on how often they wear it, but it shouldn’t be washed much more than once a week.
How many colors does Buck Mason make?
There are three colors of Buck Mason clothing. The collection consists of jackets, jeans and oxford shirts. There are three shades of each piece.
How much does Buck Mason cost?
The price range for a single item is from $24–$88, with their dress shirts going up to $190.
What is the warranty period for Buck Mason?
The warranty period for Buck Mason clothing is one year (as opposed to the standard 30 days that most companies provide.
What are the sizes of Buck Mason?
The sizes of Buck Mason clothing range from Small to 2X.
How much does it cost to ship Buck Mason?
The cost for shipping is $5 for domestic orders and $15 for international orders.