Butter Cloth Shark Tank Update

Butter cloth is as smooth as butter. Butter Cloth is the world’s most comfortable shirt-producing business. Butter Cloth is a mixture of 100% cotton fabric that is designed and modified through a special system that makes it super soft and comfortable.

Butter Cloth gives you a feel of your favorite and a cool t-shirt, but in person, it’s a casual shirt. Butter Cloth is a six-way stretch comfort shirt and gives you a wrinkle-free experience. Butter Cloth offers 15% off on the first order.

Butter Cloth at a Glance:-

IdeaStylish, Comfortable, and Professional cotton shirts
FoundersDanh Tran, Gray Falkenberg, and Mr. Peace
Asked For$250,000 For 10%
Accepted Deal$250,000 For 25%
SharksRobert Herjavec
Business statusIn Business
Episode No.Season 10, Episode 4
WebsiteButter Cloth
Buy on AmazonBuy Now!

Index:

Who are the founders of Butter Cloth?

Metta World Peace, Danh Tran, and Gray Falkenberg are the founders of Butter Cloth. Mr. Peace is an NBA-won championship champion who joined Danh and Gray as a celebrity spokesperson and investor. Danh is the main mastermind behind Butter Cloth. In 1994, Danh emigrated from California to Vietnam with his family. Danh had been interested in this line since he was a teenager.

He used to design doll clothes after taking some classes at a community college. Danh completed his graduation from Otis College of Arts and Design and then he performed as head designer at Affiliation Clothing for 10 years. Danh always hated the shirt as they are stiff from there he thought of going with the same and that’s how Butter Cloth came into the market and on this journey, Mr. Peace and Gray joined him to make it a big success.

Did Butter Cloth get a deal on Shark Tank?

Metta, Gary, and Danh enter the shark tank looking for an investment of $250,000 in exchange for 10% equity in the Butter Cloth. They needed this investment to get over the customer acquisition problem. Metta and Gary explained how they joined Butter Cloth. Danh explained the uniqueness of their business and demonstrated six ways of stretching.

They shared that they normally run their marketing via social media platforms and, since 2017, they had made total sales before coming to the show $500,000. Danh shared that they spent $40 on attracting customers. Kevin O’Leary was not impressed with the cost and went out. Mark suggested they should focus on marketing and go out. Lori Greiner went out as she had many similar business ties-ups and, due to conflict of interest, she also went out.

Charles felt that it was too risky to spend his money and went out. Robert Herjavec, the golf player, was the only shark left in the tank and felt that he could help the brand, as he was impressed with their online strategy and gave an offer of $250,000 in exchange for equity of 25%. Danh and his partners try to negotiate but Robert holds firm and finally, Danh accepts the deal offered by Robert.

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What happened to Butter Cloth after Shark Tank?

After the show, Robert Herjavec kept his promise, and the deal with Butter Cloth was closed. They also had an increase in celebrity endorsements. Once the show aired, the sales went beyond expectations and they also came with the Robert Herjavec Collection after that. In season 11 of shark tank, they pitched for the Robert Collection.

During the pitch, they pitched for a valuation of $2,500,000, and by the end of the pitch, Robert Herjavec gave an offer that valued the business at $1,000,000.

After the show, In August 2021, Butter Cloth made an addition a shirt made of mint fiber, up to 29% of it cool, which keeps you cool inside, which is named Icy Cotton Polo’s and, while in July 2021, an underwear line too. Butter Cloth offers shirts in white, grey, and maroon along with navy microprint and grey strip dimensions. In September 2021, they launched Butter Cloth 10.0 which is 10 times softer than the original fabric.

Competitors of Butter Cloth

  • Men’s Warehouse
  • Indochino
  • Paul Frederick
  • Suit Direct
  • Slater
  • &Collar

What is the net worth of Butter Cloth?

Butter Cloth has annual revenue of $6 million. Butter Cloth holds a valuation of $2,500,000 on the show, which was dropped by Robert Herjavec to $1,000,000. Currently, the business is doing well with $6 million in annual revenue, which indicates the net worth of the business is holding great numbers.

Is Butter Cloth still in business?

Butter Cloth is still in operation as per the ongoing year 2022. In July 2021, they added an underwear line. In August 2021, they launched shorts fabric shorts called Icy. In September 2021, they brought Butter Cloth 10.0, which shows that they are very active in the market and tough competition in the market. Butter Cloth has successfully made its name and place in the business world and is planning more to achieve.

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FAQs:

What is Butter Cloth?

Butter cloth is as smooth as butter. Butter Cloth is the world’s most comfortable shirt-producing business. Butter Cloth is a mixture of 100% cotton fabric that is designed and modified through a special system that makes it super soft and comfortable.

Who founded Butter Cloth?

Metta World Peace, Danh Tran, and Gray Falkenberg are the founders of Butter Cloth. Mr. Peace is an NBA-won championship champion who joined Danh and Gray as a celebrity spokesperson and investor. Danh is the main mastermind behind Butter Cloth.

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