Hillbilly is introduced as a clothing brand that offers a line of clothing designs for truckers and those who were “born country” and raised outdoors. They offer their products to those who want to enjoy the raw American lifestyle.
Hillbilly introduces T-shirts that the company called “redneck” and tank tops for both men and women. The company added a variety of hats for truckers as “trucker’s hats” accessories and beverages to its range. Toady hillbilly items are also available on Amazon but available in only 11 US States.
Hillbilly at a glance
|Episode No||Season-2, Episode-4.|
|Founder||Mike Abbaticchio and Shon Lees.|
|Business Idea||Clothing brand for Truckers and Rednecks.|
|Asked For||$50,000 for 25% of equity.|
|Accepted Deal||$75,000 for 100% of equity and 7% royalty on future licensing deals.|
|Sharks||Daymond John, Jeff Foxworthy, and Robert Herjavec.|
|Business Status||In Business.|
Hillbilly was formed and introduced by Mike Abbaticchio, from Florida along with his friend Shon Lees, Mike holds Bachelor’s degree in “business” from “Nova South-eastern University”. Shon Lees is also from Florida and went into “Florida State University” they combined and formed “Hillbilly” clothing company.
Did Hillbilly get a deal on Shark Tank?
The owners interestingly introduced hillbilly they introduced their range of products explains the market, and what values it delivers they explain their sales as by selling through events only, they have generated $50,000 last year, and they want to sell up to $60,000 before end of that year (when they come into the show).
Robert Herjevic likes the product segment and want to invest in it but not alone as they want Mr. Foxworthy as their co-partner, the owners are demanding funds that nowhere relates with their company’s valuation and they don’t have any selling and marketing expertise, As sharks are not satisfied with the valuation of the company at $200,000 therefore, major sharks denied to invest in their business.
Three sharks are willing to invest in them and offer $50,000 for his entire 100% of the business but got a counteroffer from the owners of $1,10,000 for a 100% stake and 10% of royalty on further licensing, but they are again given an offer of $75,000 and 7% royalty. Mike and Shon agree to it and here they get a deal on Shark Tank.
What happened to Hillbilly after Shark Tank?
After a few days, the company informed that they still working on the terms and conditions of the deal with Sharks but the control and management are still in his hands.
They further continue to add more products in their product segments, after a few months, they further informed that they agreed to a trademark licensing program with Trademarketing Resources, Inc.
TRI was assigned to identify the quality licensing partner for varieties of other product segments that the company is going to introduce in future under Hillbilly’s Brand.
After that company signed various agreements with various agencies and brands to improve their brand marketing.
- The revenue of the company increases after the show as they gain massive popularity after the show. In July ’21 the revenue of the company is $1 Million annually.
- They are able to generate $50,000 of sales in the next few months as they increase their production and marketing scale to reach far more customers.
- They collaborated with various brands and licensing companies to improve their product quality and create their unique identity.
- The brand valuation increases day by day as the company performs very well in the market.
- They are also available on Amazon with a variety of their products.
- Currently, Hillbilly is making approximately $5 Million of revenue each year.
Competitors of Hillbilly
The competitors of Hillbilly include the following:
- Lineman Wear – Lineman Wear is also a textile fashion company that has a similar vision as Hillbilly they produce various creative, catchy, and unique lineman T-shirts and various gift items.
- Damian King Designs – Damian King Designs are also a very tuff rivel of Hillbilly as they produce and design various fashionable kinds of stuff. They established their headquarters in San Francisco.
The following table shows the difference between their revenue and employees.
|Hillbilly||Approx. $5 Million||25-100|
|Lineman Wear||Approx. $1 Millon||8-10|
|Damian King Designs.||Approx. $1 Million||8-10|
Net-Worth of Hillbilly
- At the time of the shark tank appearance, Hillybilly was valued at around $75,000.
- After the show, the sales of the company increase and it creates a massive record production of their products and generated approximately $1 million in the next few months.
- The valuation of the company also increases rapidly as the investors signed various agreements and collaborations with different licensing companies and brands.
- In the next few years, the company is able to generate approximately $4 million of sales, and its net worth increases up to $4 Million.
- As of July 2021, the company is earning $1 million in annual revenue.
- Today hillbilly is a well-known name and creating quality products and delivering them across America.
Is Hillbilly still in Business?
Hillbilly is still in the business and performing very well and become a well-known brand for representing the traditional American culture through their T-shirts and Redneck and various beverages and associates for both men and women.
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- Roominate: What Happened after Shark Tank?
What is Hillbilly?
A clothing brand that offers a line of clothing designs for truckers and those who were “born country” and raised outdoor. They offer their products to those who want to enjoy the raw American lifestyle.
Who founded Hillbilly?
Hillbilly was formed and introduced by Mike Abbaticchio, from Florida along with his friend Shon Lees, Mike holds Bachelor’s degree in “business” from “Nova South-eastern University”.