We are all trying to wear our most comfortable clothes, whether we are at home or at work, or traveling. Now there is a new introduction in the comfort wear industry, combining two popular fashion concepts, sweatpants and overalls to create a new form of clothing, which is called … Swoveralls! (For obvious reasons)
Kyle Bergman (a.k.a the Great Fantastic) decided to bring this idea of his to the shark tank to secure an investor. Let us see what happened there.
Swoveralls at a glance:
| Business idea | Comfortable Combination of sweatpants and overalls. |
| Founder | Kyle Bergman |
| Asked for | $150,000 for 15% |
| Accepted deal | No deal |
| Sharks | No shark |
| Business status | In business |
| Episode | Season 10, Episode 20 |
| Website | Swoveralls |
| Buy on Amazon | Buy Now! |
Index:
Founder Story:
Kyle Bergman came up with the idea of Swoveralls when he decided to make a pair of overalls for himself out of sweatpants material after noticing no other product was available in the way he wanted, which he found to be much more comfortable than the usual denim.
He then used his skills as a fashion industry veteran as he had been working for Bloomingdales and Birchbox, which he then used to start the gears turning to him setting up his own company based around his new product available for men both and women.
He took to crowdfunding and had a successful Kickstarter and Indiegogo campaign which resulted to around $183,000 as well as raising $75,000 in Backer Club, which he then used to start his company. He has done his MBA at NYU and his support is also given to 1% for the planet, Israel Lacrosse, and Urban Pathways. He now plays for the Israeli lacrosse team and is also a fitness coach at orange theory.
Did Swoveralls get a deal on Shark Tank?
Kyle Bergman introduces himself to the sharks, asking for $150,000 for 15% of his company. He gives them some samples of his product and explains that the product has the comfort of sweatpants and the style and pockets of overalls.
But the sharks are unimpressed and think that this is a trend-based product that will pass and be forgotten and don’t think they should invest despite the good sales and margins. Kyle says that he will use the money efficiently to help with his inventory issues and later also start kids and youth sizes, But the sharks don’t buy it, and all of them back out.
What happened to Swoveralls after Shark Tank?
After the shark tank pitch, Kyle continued to operate his business, slightly changing his website format, and keeping the pre-order option going with the 1–2-month delivery window, while also creating his own micro crowdfunding program. Turns out he really needed the sharks’ help regarding his inventory maintenance.
Product details:
- Available in all sizes for men, women, and children with various vibrant colors and classic designs, all provided by sustainable suppliers across the country.
- Also vary regarding winter or summer wear options with an interior pocket for any valuables.
- Prices may range around $95 and may change according to size or type.
- The company can be contacted at, support@thegreatfantastic.co.
- The company is based out of New York City.
Competitors of Swoveralls
some competitors of Swoveralls, not for the product, but for the company are
- J crew
- Hot topic
- Forever 21
- Sensual fashion Boutique
- Zulily
- GAP
What is the net worth of Swoveralls?
With over $230k in the shark tank and a net worth of $ 1 million and now over $ 4 million as annual revenue, the company has surely grown but we can say that the current net worth of the startup is near $ 5 million.
Is Swoveralls still in business?
Yes, Swoveralls is still in business and is continuing to sell its unique product while having around $100 k in sales every month and as the company is owned by 1% for saving the planet, some revenue is donated to environmental NPOs.
Swoveralls has also introduced Swovie shorts and other variants of the product suitable to the younger generations and may be thinking of new products as you read this article. We salute his idealism because who knew someone could start his company on a fashion trend people didn’t even know they wanted! We also hope for him for all his future endeavors as he has inspired us to keep inventing new things!
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FAQs:
What is Swoveralls?
Swoveralls is a comfortable Combination of sweatpants and overalls.
Who founded Swoveralls?
Kyle Bergman came up with the idea of Swoveralls when he decided to make a pair of overalls for himself out of sweatpants material after noticing no other product was available in the way he wanted, which he found to be much more comfortable than the usual denim.