S14.E06: Collars & Co; SquareKeg; Nana Hats; Wondry Cocktail Wines

[JTMacc99]

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Peter Jones CBE, global investor and Dragon on BBC's "Dragon's Den" returns to the Tank. First into the Tank is an entrepreneur from Bethesda, Maryland, who presents his luxury apparel line designed to elevate one's office look and help them escape the office feel. An entrepreneur from Spokane, Washington, pitches his portable solution to enjoying beverages on tap and take the party wherever one goes; while an entrepreneur from San Diego, California, hopes the Sharks go bananas for his stylish fruit preservation device. A husband and wife from Plano, Texas, hope to get the Sharks buzzing in the Tank with their re-imagined, higher-alcohol level, fruit-infused wine collection.

 
 

Quote

In a "Shark Tank" update, Sarah Morety from Santa Monica, California, and her investors Mark Cuban and Barbara Corcoran update us on Curie, her aluminum-free deodorant and natural product line.

The Sharks in this episode are Mark Cuban, Daymond John, Kevin O'Leary, Lori Greiner and guest Shark Peter Jones.

[CrazyInAlabama]

Sharks: Peter Jones, Daymond, Kevin, Lori, Mark

1-Collars & Co. -Business casual for men.  He wants $300k for 4% of his company.  Instead of wearing a long sleeve shirt under a sweater, you wear the dress collar polo with a collar that looks like a dress shirt.   There are four styles of collars.   Sales are great, all online sales. Daymond says shirt is well made, but he dislikes the collared shirt under a sweater.   Mark and Peter are talking going in together, with a $750k line of credit, but seller balks at 10%. Peter Jones is not happy the seller won’t listen to him.   Seller simply won’t listen to very reasonable offers.

The polo shirt doesn't look like a cotton knit, it looked very slick and shiny, and horrible to wear under a sweater. 

Mark and Peter make the deal.   (I really wonder if this deal was made after due diligence.   I don't see the seller as a partner that Mark and Peter can work with). 

2-Squarekeg Mini Keg-Squareone is used for beer or mixed drinks, maybe wine soon. $300k for 10%, it’s a mini keg that’s portable for home use, picnics, etc.   The cartridge is Nitrogen, instead of CO2.   For wine they’re testing argon cartridges.    It holds almost a 12 pack. 

Mark sets the cartridge off and scared Lori and Daymond.   He had only sold 4000 units for a lifetime sales of $1.4M. Started in 2017, he just became profitable last month (eg the month before the episode was taped, not Oct 2022). He anticipated doing $200K the current month, but that wasn't actual sales.They sold almost a million last year, and they’re now profitable, with $200k a month sales.   (Thanks to ell21788 for the correction about the sales, and numbers.   It's all very confusing to me.) I'm still laughing at Daymond realizing Mark was going to do something scary with the cartridges, and moved out of the line of Mark setting the cartridge off).   Made in Washington state. They focus on the consumer market for now.   The gas keeps the beverage fresh for up to 2 weeks.   (I don’t drink, so I have zero clue about any of this).  Lori and Kevin are interested with white or red wine, and want that.   

Kevin offers a deal for 20%, and makes the deal.   He’ll be a great partner for the company.

3-Nana Hats – a banana preserver-to prolong the life of bananas.   The stem of the banana emits a gas that ripens the banana, which makes them ruin faster. They’re cute. It extends the life of the banana, 8 to 12 days usually.  (He’s a wealth manager for one of the country’s largest investment banks). He launched this company from his living room during the pandemic lockdown.   They project $600k this year, with over $200k in profit.    I wonder if they have a hat with a banana face on it?  Lori wants to partner with Peter, so each one has a continent. Kevin pitches his usual royalty deal.

Lori and Peter Jones make the deal.

4-Wondry-Fruit Infused Cocktail Wines-The couple want to increase the POC presence in the wine industry.     They want  $185k for 8% in their wine empire.    13.9% alcohol.    All wines are fruit forward.  (I have no clue about any of that).  1% of winemakers in the U.S. are Black.   (There are wineries in all 50 states).   Mr. Wonderful isn’t doing back flips over the taste.  The usual is 5 to 7% alcohol, their wines are 13.9%.    They are doing direct to consumer, and through a couple of big retailers in the Dallas area. The wife grew up watching her uncle make bootleg wines, she’s taken wine making courses from noted institutions. He has a masters from Johns Hopkins, and American University law school.  

Mark makes the deal, he’ll be a great partner. 

Update:  Curie, natural deodorant and skin care.  As always, they’re doing very well.

Edited November 13, 2022 by CrazyInAlabama

[DEL901]

Hated the first guy.  He will be a nightmare to work with.  Liked all the other entrepreneurs.  

Banana hats was silly but useful.  Shocked that they got two sharks, but I can see the usefulness.   

[DrSpaceman73]

54 minutes ago, DEL901 said:

Hated the first guy.  He will be a nightmare to work with.  Liked all the other entrepreneurs.  

Banana hats was silly but useful.  Shocked that they got two sharks, but I can see the usefulness.   

That first guy was an arrogant douche. I bet that deal falls through. He has TWO titans of the clothing industry trying to tell him things snd he dismisses them rudely. Plus I don't really understand the advantage of his shirts. 

Love the banana hats. Going to try them. 

[30 Helens]

I did not understand why they didn’t throw Polo Shirt Douche out on his ass. He disrespects them and they still want to work with him? Whatever. 

I also didn’t understand his pitch. When he kept going on about the uncomfortable dress shirt/ sweater combo, I expected to see a variation on that— like a sweater with attached dress collar and cuffs, or something. But then he jumped to polos? That’s an entirely different look, for a different season. What does that have to do with sweaters? Why not start with the premise that lots of people wear polos to work, but they don’t look as good as they should? Simpler and more direct. 

I also don’t see this as an endlessly growing market. Lots of companies are transitioning to a remote workforce, where the basic uniform is sweats and a t-shirt. Come up with a professional looking t-shirt for Zoom calls, and you might have something. (Can you tell I really didn’t like this guy?)

The banana thing was dumb and unnecessary. You can do the same thing with a piece of Saran Wrap and a rubber band. (Or, like me, just buy bananas at varying stages of ripeness so they don’t all start turning brown at the same time.)

I don’t care about beer on tap (bottled is just fine) and don’t like sweet, fruity wines, so I’m just not the right market for the other two.

[DrSpaceman73]

The beer on tap thing was just too small even if you do like on tap beer.  

[Vermicious Knid]

Loved how Damon wisely gets out of the line of fire before Mark inevitably explodes the nitrogen. And asking the entrepreneur if he often wakes up thinking of better ways to get hammered.

Banana hats? Yeah, I'm not seeing why someone should buy this when you can just use plastic wrap. I had to look it up because I wanted to know if the premise is true and this article says, well, use plastic wrap and a rubber band. Wine guy, wow. That is quite the resume. Product looks good and I would actually try it. But according to their website no one has it stocked in my state, not even Target. Whose search function did point me towards Black Girl Magic wine as an alternative.

[DEL901]

5 hours ago, 30 Helens said:

I did not understand why they didn’t throw Polo Shirt Douche out on his ass. He disrespects them and they still want to work with him? Whatever. 

I also didn’t understand his pitch. When he kept going on about the uncomfortable dress shirt/ sweater combo, I expected to see a variation on that— like a sweater with attached dress collar and cuffs, or something. But then he jumped to polos? That’s an entirely different look, for a different season. What does that have to do with sweaters? Why not start with the premise that lots of people wear polos to work, but they don’t look as good as they should? Simpler and more direct. 

I also don’t see this as an endlessly growing market. Lots of companies are transitioning to a remote workforce, where the basic uniform is sweats and a t-shirt. Come up with a professional looking t-shirt for Zoom calls, and you might have something. (Can you tell I really didn’t like this guy?)

The banana thing was dumb and unnecessary. You can do the same thing with a piece of Saran Wrap and a rubber band. (Or, like me, just buy bananas at varying stages of ripeness so they don’t all start turning brown at the same time.)

I don’t care about beer on tap (bottled is just fine) and don’t like sweet, fruity wines, so I’m just not the right market for the other two.

The polo looking shirts were for wearing UNDER your sweater.  That’s why they had a professional collar with a knit body….supposedly more comfortable or something.  But as you say, with the transition to new ways/places for work, the market is shrinking, not growing.  

[JTMacc99]

9 hours ago, DrSpaceman73 said:

The beer on tap thing was just too small even if you do like on tap beer.  

I live in an area rich with craft breweries.  Like there are 6 or 7 within a ten minute drive. That mini keg is a great way to have some local beer in your fridge on demand. 
 

It’s not a problem that has a lot of people looking for a solution, but if he gets the wine thing to work, he has a very valuable product. 

[KaveDweller]

18 hours ago, DrSpaceman73 said:

That first guy was an arrogant douche. I bet that deal falls through. He has TWO titans of the clothing industry trying to tell him things snd he dismisses them rudely. Plus I don't really understand the advantage of his shirts. 

When he was talking about dress shirts under polos being annoying, I thought his product was going to be a sweater with a color attached so it LOOKED like you had on two shirts when it was only one. That seems like a better solution to the problem.

But I'm a woman so maybe I just don't get it.

[eel21788]

22 hours ago, DEL901 said:

Banana hats was silly but useful.  Shocked that they got two sharks, but I can see the usefulness.   

I like my bananas to be really, really ripe. For that reason, I'm out.

[eel21788]

20 hours ago, 30 Helens said:

I also didn’t understand his pitch. When he kept going on about the uncomfortable dress shirt/ sweater combo, I expected to see a variation on that— like a sweater with attached dress collar and cuffs, or something.

3 hours ago, KaveDweller said:

When he was talking about dress shirts under polos being annoying, I thought his product was going to be a sweater with a color attached so it LOOKED like you had on two shirts when it was only one.

 I was thinking he was going to show us a dickie with a pointed collar.

21 hours ago, DrSpaceman73 said:

That first guy was an arrogant douche. I bet that deal falls through. He has TWO titans of the clothing industry trying to tell him things snd he dismisses them rudely. Plus I don't really understand the advantage of his shirts.  

He believes his company is worth $20M when he has sold fewer than 100K units. When Mark and Peter went out, they should have stayed out. Trying to work with someone who has such huge delusions of grandeur is going to be really difficult.

[eel21788]

21 hours ago, DrSpaceman73 said:

Love the banana hats. Going to try them. 

I see that as becoming another Dollar Store mark-down item.

[eel21788]

23 hours ago, CrazyInAlabama said:

Squarekeg Mini Keg-Squareone is used for beer or mixed drinks, maybe wine soon. . . They sold almost a million last year, and they’re now profitable, with $200k a month sales. 

He had only sold 4000 units for a lifetime sales of $1.4M. Started in 2017, he just became profitable last month (eg the month before the episode was taped, not Oct 2022). He anticipated doing $200K the current month, but that wasn't actual sales.

23 hours ago, CrazyInAlabama said:

 it’s a mini keg that’s portable for home use, picnics, etc. 

I still wasn't quite sure exactly what how this was supposed to work. Do you take your keg into your favorite craft brewery and ask them to fill it for you? Is there a system for you to exchange your empty keg for a full one the way you do with Blue Rhino propane tanks? Do you buy whatever brand of canned beer, but it is somehow better if you fill your keg with it instead of drinking it straight from the can? Why would you put cocktails in it? Does it carbonate them?

I don't drink, so I just couldn't catch on to why this is any better than a standard portable Igloo cooler full of ice.

For once, Lori didn't bellyache about being served something with citrus in it. Maybe she doesn't know how to make an Arnold Palmer, alcoholic or not.

[CrazyInAlabama]

1 hour ago, eel21788 said:

He had only sold 4000 units for a lifetime sales of $1.4M. Started in 2017, he just became profitable last month (eg the month before the episode was taped, not Oct 2022). He anticipated doing $200K the current month, but that wasn't actual sales.

I still wasn't quite sure exactly what how this was supposed to work. Do you take your keg into your favorite craft brewery and ask them to fill it for you? Is there a system for you to exchange your empty keg for a full one the way you do with Blue Rhino propane tanks? Do you buy whatever brand of canned beer, but it is somehow better if you fill your keg with it instead of drinking it straight from the can? Why would you put cocktails in it? Does it carbonate them?

I don't drink, so I just couldn't catch on to why this is any better than a standard portable Igloo cooler full of ice.

For once, Lori didn't bellyache about being served something with citrus in it. Maybe she doesn't know how to make an Arnold Palmer, alcoholic or not.

I'll change the numbers on the portable keg.  Since I don't drink I didn't have a clue about the keg, or the cocktail wines.   I appreciate the update, the show goes by pretty fast. 

[eel21788]

19 minutes ago, CrazyInAlabama said:

I'll change the numbers on the portable keg.  Since I don't drink I didn't have a clue about the keg, or the cocktail wines.   I appreciate the update, the show goes by pretty fast. 

Unfortunately, those little details get stuck in my brain for way too long. I have concerns that those kinds of details are preventing my remembering something much more important.

[hifihifi]

I hope they have an update on that first guy. I can't see the deal going through or him working with the English guy & Mark Cuban.

[eel21788]

3 hours ago, hifihifi said:

I hope they have an update on that first guy. I can't see the deal going through or him working with the English guy & Mark Cuban.

I can definitely see him trying to renegotiate the equity with them again once the cameras were off or make some other stupid move.

As I said before when Mark and Peter went out the first time, they should have stayed out.

[khyber]

14 hours ago, eel21788 said:

I like my bananas to be really, really ripe. For that reason, I'm out.

I like my bananas just barely ripe (still almost green) so I am in, way in. I never buy more than one or two bananas at a time so I will give this a try.

14 hours ago, eel21788 said:

 I was thinking he was going to show us a dickie with a pointed collar.

That's exactly where  thought he was going.

[bilgistic]

3 hours ago, khyber said:

That's exactly where  thought he was going.

As did I!

[Welshman in Ca]

The first guy was an ass of the highest order & there is no way that it will work out with Mark & Peter with his attitude, it's a fucking shirt get over yourself.

[DEL901]

The collar guy has added sweaters and outerwear. 
https://collarsandco.com

And there is a quote from Forbes about them changing the game in the shirting industry.    Any bets on how he will do when the competition ramps up?

[bilgistic]

"Changing the game in the shirting industry."😒 It's a polo shirt, brah. And there are already polo shirts made with poly/nylon/spandex.

(The presenter, not you, @DEL901.)

[eel21788]

On 11/12/2022 at 6:09 PM, eel21788 said:

 I was thinking he was going to show us a dickie with a pointed collar.

On 11/13/2022 at 8:33 AM, khyber said:

That's exactly where  thought he was going.

On 11/13/2022 at 11:57 AM, bilgistic said:

As did I!

Now that we have our business idea, the three of us should apply to Snark Tank.

[aemom]

On 11/12/2022 at 12:00 AM, 30 Helens said:

The banana thing was dumb and unnecessary. You can do the same thing with a piece of Saran Wrap and a rubber band. (Or, like me, just buy bananas at varying stages of ripeness so they don’t all start turning brown at the same time.)

I agree, but I have different banana tricks. I learned that organic bananas last longer than the regular ones.So I buy about eight bananas- as green as I can - and they last the week. The other thing that I learned is that you have to separate them to slow down their ripening.

So when I get home, I pull them all apart and I have bananas for the week. No fancy sock needed!

On 11/12/2022 at 8:09 PM, eel21788 said:

 I was thinking he was going to show us a dickie with a pointed collar.

He believes his company is worth $20M when he has sold fewer than 100K units. When Mark and Peter went out, they should have stayed out. Trying to work with someone who has such huge delusions of grandeur is going to be really difficult.

As did I and I wonder why they were so hell bent on getting a deal.

The beer guy: How much are the cartridges? That was not addressed in the pitch at all.

Also, how do you properly clean out the unit? Not addressed either.

Wine people were fine - I don't drink wine so nothing to add.

[eel21788]

On 11/12/2022 at 6:09 PM, eel21788 said:

 I was thinking he was going to show us a dickie with a pointed collar.

15 hours ago, aemom said:

As did I

On 11/14/2022 at 1:24 PM, eel21788 said:

Now that we have our business idea, the three four of us should apply to Snark Tank.

You can join us in our business endeavor; however, we are now down to 25% equity for each of us. What should we offer the snarks?

Edited November 16, 2022 by eel21788

[lh25]

On 11/13/2022 at 12:17 PM, DEL901 said:

 Any bets on how he will do when the competition ramps up?

It seems like something big companies might start doing if they see a market like he did.  He didn't say anything about patents, not sure he could get one.

[jabRI]

On 11/13/2022 at 3:17 PM, DEL901 said:

And there is a quote from Forbes about them changing the game in the shirting industry.    Any bets on how he will do when the competition ramps up?

But like one of the sharks said (Peter?Daymon?) fashions change, the 'midtown uniform' of today will be different a year from now. I remember when upturned collars for women were a thing, or a sweater tied around the neck.  You can't base a business on a fad unless you can quickly pivot.  Exception might be the other shark tank shirt guy 'untucked' which is not going to go out of fashion any time soon, as it's more about comfort and practicality.

[Shellie]

I just watched this on the rerun last night. Even though the banana cover is unnecessary, I can still see people buying it, as consumers buy lots of unnecessary gadgets. There are snack bag clips, for instance, when clothespins do the same thing. Those rubber grippy mats for opening jars, when a fat rubber band works just as well.