Ash and Anvil Shark Tank Net Worth 2023
Ash and Anvil Shark Tank Net Worth
The net worth of Ash & Erie is estimated to be above $1 million as of February 2023.
Ash & Erie, formerly known as Ash & Anvil, is a clothing company founded by Steven Mazur and Eric Huang in 2015. The company specializes in clothing tailored for men 5’8” and below.
In October 2017, the company appeared on Shark Tank USA and received an investment of $100,000 in exchange for 12.5% of the company.
Since appearing on the show, Ash & Erie has sold over $5 million worth of products.
What is Ash and Anvil? (Now Ash and Erie) Who are the Ash & Anvil founders?
Ash and Anvil is a clothing brand that specializes in creating apparel for men who are 5’8″ and shorter. Their collection includes T-shirts, polos, trousers, and shorts, all made from soft and durable fabrics.
The company was founded in 2015 by Steven Mazur, who is 5’6″, and Eric Huang, who is 5’8″. They both bring distinct skills in business and creative design to the table with Ash and Erie.
Despite being acclimated to and at ease with their unique characteristics, Steven and Eric have always struggled to find clothes that fit well. This struggle inspired them to start their own clothing brand for shorter men.
Ash & Anvil’s clothing line started with shirts and has since expanded to include jeans, shorts, polos, and crew necks. The brand’s items are manufactured in the United States and cost $79 for a shirt and $159 for jeans.
With a successful IndieGoGo campaign that raised $26,461 in seed money, Steven and Eric were able to create modest runs of their initial designs.
Their goal is to not only cater to shorter men but also empower them to feel confident in their appearance.
Ash and Anvil Shark Tank Pitch
On Shark Tank Season 9 Episode 5, Steven and Eric pitched their company, seeking $100,000 in exchange for a 12.5% stake, valuing their company at $800,000.
They started by addressing the issue of finding clothing for shorter men. During their presentation, they revealed their Ash and Anvil shirts, which fit them well.
When questioned, they defined short as five feet eight inches or under. Daymond John, who is also five feet eight inches, compared himself to Eric and Steven.
The company had generated $130,000 in sales over nine months, with a profit margin of 55%, selling shirts for $79 and making them for $35.
Steven revealed that the company’s largest issue was building up inventory, which required more investment.
With 40 million potential customers in the United States who are under five feet eight inches tall, the market was significant.
Robert, Lori, and Daymond all declined to invest for various reasons. Mark Cuban offered $150,000 for a 25% stake, which they declined initially but ultimately accepted.
However, they later found funding without completing the contract with Mark and changed their name to Ash and Erie due to trademark issues.
After the show aired, the company gained mainstream media attention, including features in Slate and Bustle, and appeared on CNN and CNBC.
In May 2018, they reached $1 million in sales, and a year later, they received $1.2 million in venture capital investment. As of December 2021, their revenue was slightly over $1 million per year.
Ash and Anvil Net Worth
Steven and Eric appear on Shark Tank in search of $100,000 in exchange for a 12.5% stake in their company. This equates to an $800,000 value.
They accepted an offer from Mark of $150,000 for 25% equity thus valuing it at $600,000.
Ash and Anvil Competitors
Criquet Shirts is the main competitor of Ash and Anvil.
Ash and Anvil FAQS
What is Ash and Anvil?
Ash & Anvil is a clothing brand that specializes in casual button-down shirts and pants for shorter men (5’8′′ and under).
Who founded Ash & Anvil?
Steven Mazur (5’6″) and Eric Huang (5’8″) founded the company in 2015.
How much were they seeking in the Shark Tank?
The founders were in search of $100,000 for a 12.5% stake in their company.
Did they get a deal from the Shark Tank?
They accepted Mark Cuban’s offer of $150,000 for 25% equity.
Where can they buy Ash & Anvil garments online?
They can visit their website to purchase the garments online and on Amazon.
What is the Ash & Anvil price range?
The shirts cost $79 and the jeans cost $159.
Where are Ash & Anvil made?
They are made in Detroit, Michigan.
Why did ash and anvil change name?
They changed the name of the firm to Ash and Erie just before their episode aired owing to worries from “a larger organization” that they were infringing on some of their trademarks.
They reached $1 million in sales in May of 2018, around 7 months after they aired.
What happened to ash and anvil?
Ash & Anvil was renamed Ash & Erie after appearing on Shark Tank. The superb quality of Ash & Erie’s shirts has not changed, despite the name change.
More than 11,000 shirts and 1,100 jeans were sold. Sweaters and chinos have been added to the Ash & Erie product line.
Where can they find Ash & Erie?
They are headquartered in Detroit, Michigan.
Is ash and anvil legit?
The company is legitimate. Ash & Anvil has not been sued by anyone. The company has received glowing reviews from customers.
How long should a button-down shirt be untucked?
Untucked button-down shirts should be long enough to cover their waist, but not so long that they seem like they’re wearing a dress.
What payment methods do Ash and Erie accepts?
Ash & Erie accept PayPal.
What materials is Ash & Erie made of?
The sweaters by Ash & Erie are manufactured with 30% extrafine merino wool, a soft and sumptuous winter fabric that looks and feels comparable to cashmere.
The remaining fabric is a combination of 35% viscose and 35% nylon knit fabric.
What should the length of a man’s shorts be?
A 7″ inseam or anything near to it is the ideal length and balance for shorter guys.
How are men’s shirts measured?
Wrap the tape measure around the widest part of their chest and back to get their chest measurement.
This is normally just beneath their armpits. Take a deep breath and maintain the tape measure parallel to the ground.
What is net worth of Steven Mazur?
Steven Mazur’s net worth is unavailable.
What is net worth of Eric Huang?
Eric Huang’s net worth is unavailable.