Gameday Couture is a clothing brand that designs sports clothing for women. The brand makes clothing lines for women who want to support their favorite team with a fashionable alternative to traditional sports merchandise.
Shawnna Feddersen the CEO of Gameday Couture was frustrated with the lack of woman’s apparel for sports fans and decided to come up with a fashionable twist for the traditional sports clothes. Shawnna Feddersen and Kurt Feddersen a couple from Oklahoma went on Shark Tank asking for the investment of $500,000 for 30% of equity. The episode aired on the 6th season of the series.
Gameday Couture at a glance:
- Sports clothing brand for women.
- Founder: Kurt Feddersen and Shawnna Feddersen
- Asked For $500,000 for 20% at $2.5 million valuation on Shark Tank.
- Received $500,000 for 33% from Mark Cuban.
- Currently in business.
Index:
Who owns Gameday couture?
The Oklahoma university alumni started the woman’s high-fashion apparel company in 2010 and only tested the products. The company was fully launched the next year.
During the pitch, Shwanna Feddersen reveals that after getting frustrated by the lack of availability of women’s apparel for the sports teams she decided to start the Gameday Couture designing the clothing for the woman who wants to support their favorite teams. The Feddersen’s described their clothing as “a classic traditional woman’s fashion with a modern twist”.
How was the Gameday couture Shark Tank pitch?
The Feddersen’s displayed a large variety of apparel during the pitch. Hats, skirts, t-shirts, tunics, and more with the different sports team names on them. Kurt Feddersen describes the brand as “high-quality fabric at a competitive price” suggesting that their product is not only affordable but also durable.
Robert Herjavec asks the couple “how many colleges they have a license from” being an investor in the clothing business himself he knew how expensive investment in college logo can be. Kurt Feddersen answers this question by revealing that they have 37 licenses as of right now and they are still working for more.
When asked about the revenue they revealed they made $750,000 last year and are projecting a $1.5 million profit this year. Kurt also revealed that they use the profit to get the license from various colleges. Kevin doesn’t seem very happy that they didn’t know their actual value he says that they have overpriced their business. Robert Herjavec and Daymond Jonh stepped out as well.
Mark Cuban seems interested in their business and makes then an offer of $500,000 for 33% of stakes but he put a condition on them. “You are going to have to trust me on this a little bit,” Mark says as he states he won’t reveal a caveat until they accept the offer.
After thinking for a moment Kurt and Shwanna accepted the offer. Mark reveals the caveat that they have to make a line for the Dallas maverick a team that mark owns.
How does Gameday couture make money?
During the pitch, the owners revealed that the average cost price of the product is $8 and on average, it retails for $44 and on wholesales at $22.
The product has a wide reach online as it continues to sell on various websites such as amazon along with their website gameday-couture.com; the company continues to sell in boutiques and shops as well.
What Happened to Gameday Couture after Shark Tank?
After receiving the investment from Shark Tank, Mark Cuban got on board with the company for expansion. “We are truly blessed to be seating in such a valuable situation with such a strong investor and mentor behind us,” said Shawnna Feddersenn during the follow-up episode.
The company has now partnered with NBA and makes woman’s products for all 30 teams. They are now licensed with over 1500 colleges and continue to sell the product from 2000 stores nationwide.
The company now has two brands Gameday Couture and Social House. The brand Social House allows the customer to complete their look through an interactive social community.
Net worth of Gameday couture:
The company was valued at $10,00,000 in 2014. The founder received the investment of $500,000 from Mark Cuban during the Shark Tank for 30% of the equity of the condition of making the line for the team he owns.
Year by year evaluation:
- 2010: The couple Kurt and Shwanna decided to test their sports fashion apparel in 2010, launching the business the next year successfully.
- 2013: In 2013, the company reportedly made a $750,000 profit and is has the license of over 30 and more college logos.
- 2014: The couple appeared on Shark Tank in 2014 during the 6th season of the show. They ask for a $500,000 investment for 20% of the company stakes. Mark Cuban offers the deal of $500,000 for 30% of the stakes on the condition of making a clothing line for his team. Kurt Feddersen during the pitch revealed that they were projecting $1 million sales by end of the year.
- 2018: Gameday Couture projects the sales of $20 million by the end of the year and makes $12million in the year. The Gameday couture remains one of the most successful investments done on Shark Tanks.
- 2020: Gameday Couture now has partnered with NBA and makes products for all 30 teams. They are now licensed to make clothes for over 1500 college teams and launched their second their brank social house from where they continue to sell their products.
Interesting facts:
- Shawnna Feddersen was a hairstylist and wasn’t really into the fashion business at the beginning
- Shawnna Fedddersen represented Oklahoma in Mrs. United states on 2005
- Mark Cuban conditioned the founder to make a line for his team.
Is Gameday couture still in business?
Gameday couture continues to grow with its wide online reach. The company has significant growth on social media. The company now has reached 30k follower on Facebook and as of this day have 32.3k followers on Instagram.
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FAQs:
What is Gameday Couture?
Gameday Couture is a clothing brand that designs sports clothing for women. The brand makes clothing lines for women who want to support their favorite team with a fashionable alternative to traditional sports merchandise.
Who founded Gameday Couture?
Shawnna Feddersen and Kurt Feddersen a couple from Oklahoma who founded Gameday Couture went on Shark Tank asking for the investment of $500,000 for 20% of equity.