Best Wardrobe Solutions Shark Tank Net Worth 2023
Best Wardrobe Solutions Shark Tank Net Worth
As of February 2023, there is no public information available about Best Wardrobe Solutions’ net worth.
Cedric Cobb, the founder of Best Wardrobe Solutions, appeared on Season 10 of Shark Tank in 2019 to pitch his men’s apparel business.
He asked for an investment of $200,000 in exchange for 15% equity. Daymond John offered him $1.00 for the same amount of equity and Cedric accepted.
Since then, Best Wardrobe Solutions has continued to grow and expand its product line. The company sells fashion accessories such as ties, pocket squares, collar stays, belts, shoes and more. Its signature product is the Best Pocket Square Holder which sells for $19.99 on Amazon.
Cedric has also teamed up with The Lapel Project founder Sebastian Garcia after Mark Cuban invested $150,000 in The Lapel Project during the show.
What is Best Wardrobe Solutions? Who is the Founder of Best Wardrobe Solutions?
Best Wardrobe Solutions is a company that specializes in men’s fashion accessories. They offer a range of products such as ties, pocket squares, collar stays, belts, shoes, and other fashion accessories.
Their one-of-a-kind mobile app helps men learn how to properly knot a pocket square, which is a kerchief that can be worn in a suit pocket.
One of the most popular items sold by Best Wardrobe Solutions is the Best Pocket Square Holder.
This lightweight holder is used to keep a pocket square neatly folded in place in any blazer or jacket. It comes in various designs and colors to match their ties and costs $19.99 on Amazon.
Cedric Cobb is the President/CEO of Best Wardrobe Solutions and the inventor of the Best Pocket Square Holder. He has a 20-year career in corporate sales, management, and wardrobe consulting, which has earned him the title of fashion expert.
Cedric was inspired to invent the Best Pocket Square Holder after watching the Steve Harvey talk program in 2015 and noticing that the host’s pocket square was out of place.
Knowing that many men faced the same problem, he came up with the Best Pocket Square Holder as the solution.
Cedric’s mother, who was a professional seamstress and entrepreneur for over 30 years, inspired him to pursue an education and a career in corporate America.
Best Wardrobe Solutions has recently released a mobile app that makes purchasing the Best Pocket Square Holder easier and faster.
Best Wardrobe Solutions Shark Tank Pitch
Cedric made an appearance on season 10 episode 21 of Shark Tank, seeking $200,000 in exchange for a 15% stake in his company, which valued his company at $1,333,333.33.
During his pitch, Cedric demonstrated how his pocket square holder worked and distributed samples. The cost of each holder was $19.99, and the wholesale price was $7.50 per unit.
However, due to all production taking place in the United States, the cost had increased to $3.40 per unit.
Despite the product being available for purchase on various platforms, including Best Wardrobe Solutions’ website, Amazon, Etsy, and church conferences, Cedric stated that wholesale accounted for up to 70% of total sales.
Cedric was seeking funding to reduce manufacturing costs by moving production to an assembly line. While Mark did not like the wholesale aspect of the business and withdrew from the deal, Robert thought the product was cool but too niche and also withdrew.
Kevin believed he could help the product succeed and offered a $1.50 royalty per unit, but Daymond came back into the negotiation and offered a $1 royalty per unit instead, which was ultimately accepted by Cedric.
As of August 2019, it is unclear if the deal was completed. Best Wardrobe Solutions has expanded its product line to include fraternity pocket squares, bow ties, shoes, socks, and lapels, as well as having a groomsmen store.
The company generates $3 million in yearly sales as of June 2021 and is available for purchase on the company website and Amazon.
Best Wardrobe Solutions Net Worth
Cedric appears on Shark Tank season 10 episode 21 in search of $200,000 for a 15% stake in his company.
This translates to a $1,333,333.33 valuation. They accepted an offer from Daymond for $200,000 for $1 per unit royalty in perpetuity thus the same valuation.
Best Wardrobe Solutions Competitors
There is no competitor identified for Best Wardrobe Solutions.
Best Wardrobe Solutions Shark Tank Updates
Best Wardrobe Solutions is a fashion technology company that sells fashion accessories for men, including ties, pocket squares, collar stays, belts, shoes, and more.
Cedric Cobb, the founder of Best Wardrobe Solutions, developed an app that shows men how to properly accessorize, especially when handling a pocket square.
One of the company’s best-selling products is the Best Pocket Square Holder, which holds the fold of any pocket square or round securely in a jacket pocket without it moving or shifting.
Cedric Cobb pitched Best Wardrobe Solutions on Shark Tank in episode 1020, seeking $200,000 for 15% of his business. The Sharks all seemed to like the product, but several thought it was “too niche”. Despite objections, Kevin offered $200,000 in a straight royalty deal.
After joining the Shark Tank family, Cedric teamed up with The Lapel Project founder Sebastian Garcia, who Daymond John said was the “best salesman” on Shark Tank. Mark Cuban invested $150,000 in The Lapel Project and said it “is one of my all-time favorite deals.
Since airing on Shark Tank, Best Wardrobe Solutions has rebranded and is now under the new name, Best Wardrobe Solutions. The company is estimated to be generating $3 million in sales per year.
Best Wardrobe Solutions is selling its flagship product direct-to-consumers on its website as well as through Amazon, Etsy, and major in-person events. The product is sold for $19.99 to $24.99.
A Summary Table for Best Wardrobe Solutions Shark Tank Net Worth 2023:
| INFORMATION | DETAILS |
| Company Name | Best Wardrobe Solutions |
| Founder | Cedric Cobb |
| Products Offered | Ties, pocket squares, collar stays, belts, shoes, and more |
| Signature Product | Best Pocket Square Holder ($19.99 on Amazon) |
| Shark Tank Appearance | Season 10, Episode 21 |
| Amount Sought On Shark Tank | $200,000 for 15% equity |
| Deal Made On Shark Tank | Daymond John offered $1 per unit royalty |
| Net Worth (As Of Feb 2023) | Not publicly available |
| Annual Sales (As Of June 2021) | $3 million |
| Competitors | None Identified |
| Updates | Expanded product line to include more items |
Best Wardrobe Solutions FAQS
What Is Best Wardrobe Solutions And How Does It Work?
Wardrobe solutions are designed to help organize and maximize storage space in a closet or bedroom. There are several types of wardrobe solutions available, including closet systems, modular wardrobes, and portable closets.
Closet systems are pre-designed kits that include shelves, drawers, and hanging rods that can be customized to fit the user’s needs. Modular wardrobes are made up of individual pieces that can be combined to create a custom storage solution.
Portable closets are lightweight and can be moved around easily, making them a good option for those who need temporary storage.
When choosing a wardrobe solution, it is important to consider the size of the space and the user’s storage needs. For small spaces, a compact closet kit or a portable wardrobe may be the best option.
For larger spaces, a modular wardrobe or a closet system with customizable features may be more suitable.
It is also important to consider the functionality and practicality of the wardrobe solution, such as how often it may need to be moved.
When evaluating wardrobe solutions, it is important to consider factors such as durability, design, and price. The best wardrobe solutions are those that are functional, durable, and fit the user’s needs and budget.
Who is the founder of Best Wardrobe Solutions?
Cedric Cobb is the founder of Best Wardrobe Solutions. He is a fashion expert and entrepreneur, and he has created several other men’s fashion accessories, including bow ties and cuff links.
What Was The Outcome Of Best Wardrobe Solutions Shark Tank Pitch?
Cedric Cobb pitched Best Wardrobe Solutions, his fashion technology company, on Shark Tank episode 1020.
He was seeking $200,000 for 15% of his business and demonstrated how his signature pocket square holder works.
The Sharks all seemed to like the product, but several thought it was “too niche”. Despite objections, Kevin offered $200,000 in a straight royalty deal.
After joining the Shark Tank family, Cedric teamed up with The Lapel Project founder Sebastian Garcia, who Daymond John said was the “best salesman” on Shark Tank. Mark Cuban invested $150,000 in The Lapel Project and says it “is one of my all-time favorite deals”.
Cedric accepted $200,000 from a Shark in exchange for a 15% stake in his company. The article does not specify which Shark invested in Best Wardrobe Solutions.
Best Wardrobe Solutions sells fashion accessories for men, including ties, pocket squares, collar stays, belts, shoes, and more.
Cedric developed an app that shows men how to properly accessorize, especially when handling a pocket square.
One of his best-selling products is the Best Pocket Square Holder, which sells for $19.99 on Amazon. Cedric likely wants to grow his business by getting on shelves in large fashion retailers.
Did Any Of The Sharks Invest In Best Wardrobe Solutions?
Yes, one of the sharks invested in Best Wardrobe Solutions. Kevin offered $200,000 in a straight royalty deal.
The company accepted the offer from Daymond for $200,000 for $1 per unit royalty in perpetuity. The amount invested was $250,000.
What Happened To Best Wardrobe Solutions After Appearance On Shark Tank?
There is no information available on what happened to Best Wardrobe Solutions after their appearance on Shark Tank. A search for “Best Wardrobe Solutions Shark Tank” did not yield any relevant results.
It is possible that the company did not receive a deal from the Sharks and continued to operate independently. Alternatively, the company may have gone out of business or rebranded under a different name.
Without further information, it is impossible to determine what happened to Best Wardrobe Solutions after their appearance on Shark Tank.
How much he seeking in the Shark Tank?
Cedric is seeking $200,000 for a 15% stake in his company. This translates to a $1,333,333.33 valuation.
Did he get the deal from the Sharks?
They accepted an offer from Daymond for $200,000 for $1 per unit royalty in perpetuity thus the same valuation.
How much does Pocket Square Holders cost?
These Pocket Square Holders retail for $19.99 each and Pocket Square Holders wholesale for $7.50 per unit.
What episode of Shark Tank was Pocket Square Holders aired?
They aired on Shark Tank season 10 episode 2.
What material is the product made of?
The Best Pocket Square Holder is manufactured of Industrial Grade Freckled Felt, which is incredibly sturdy and long-lasting.
The felt is black, and the colour consistency varies. This material is ideal for a sport coat’s breast pocket because, unlike card board, it does not slip or slide in the pocket lining.
It also has a clamping mechanism that may be used to open and secure the pocket square for one-time or permanent use.
When episode was Pocket Square Holders aired on Shark Tank?
They aired on Shark Tank season 10 episode 2.
Is best wardrobe solutions still in business?
His website and Amazon are where he makes his sales. The firm is still in operation and makes $3 million in yearly sales as of June 2021.
What is the pocket square?
A pocket square is a little rectangle of fabric that fits snugly in their jacket’s breast pocket, offering a tasteful touch of fabric peeking out to boost aesthetic attractiveness. Everyone’s attention is focused on that square.
How does a pocket square holder work?
The Best Pocket Square Holder is a lightweight, long-lasting tool that is meant to hold the fold of any pocket square or handkerchief permanently within the breast pocket of a suit, tuxedo, sport coat, or vest for work or a one-time event.
Simply choose their favourite pocket square or handkerchief from their collection.
What is the net worth of Cedric Cobb?
Cedric Cobb’s net worth is unavailable.
