Buck Mason Shark Tank Net Worth 2023
Buck Mason Shark Tank Net Worth
Buck Mason is an American men’s clothing brand founded in Los Angeles, California by Sasha Koehn and Erik Allen. The company specializes in button-up shirts, chinos, and other men’s clothing. Buck Mason had a business valuation of $2.5 million when it appeared on Shark Tank.
In the year following their introduction on Shark Tank, Buck Mason increased their sales by 20-100% per month. As of 2023, the company has an annual revenue of $16 million and a net worth of $16 million.
Buck Mason is still in business and has several job openings on their website, indicating that they are looking for a Shark to provide cash and advice for growth.
What is Buck Mason? Who is the Founder of Buck Mason?
Buck Mason is a high-end fashion brand that specializes in creating modern, stylish apparel for men. The company’s product line includes button-up shirts, chinos, and other clothing items.
Buck Mason has both online and brick-and-mortar retail locations in Los Angeles, New York, and San Francisco.
Sasha Koehn and Erik Allen, who were neighbors in Venice, California, founded Buck Mason in 2013 with the goal of creating updated, timeless American classics for everyday wear.
Their products are made from high-quality materials, and Buck Mason knits all of their textiles in-house to ensure top-notch quality.
While some of their products, such as their raw denim jeans, may appear slightly structured at first, they are designed to last a lifetime and get better with each wash and use.
Buck Mason sources its long-grain cotton from the world’s finest cotton farmers to produce soft, durable fabrics.
Although Buck Mason’s products may be more expensive than those from other brands, they are designed to endure generations rather than just a single season.
A single tee shirt from Buck Mason might cost $10 or more in fabric alone, but the quality is well worth the investment.
Sasha Koehn and Erik Allen founded Buck Mason to provide fashionable, high-quality clothing for American men while creating jobs in the United States.
Only a small percentage of clothes purchased in America are made in the country, but Buck Mason is committed to defying this trend by producing all of their clothing in the United States.
Buck Mason’s clothing items, such as their ideal five-pocket jeans, well-fitting Oxford shirts, and classic trousers, come in tried-and-true colors and are built to last.
The brand has gained a loyal following of customers who are passionate about quality and a timeless look.
Prices for Buck Mason gear can be a bit higher, with a tee-shirt costing $24, an Oxford shirt costing $88, and a pair of slacks costing $135.
Buck Mason Shark Tank Pitch
As the firm is expanding and has multiple employment positions available on their website, Sasha and Erik decide to seek out a Shark who can provide cash and advice for their expansion.
They enter the business with a proposal of $200,000 for an 8% stake in the firm valued at $2.5 million.
Their clothing line is modeled after Erik’s father, and they prioritize producing high-quality, classic men’s clothing over following fashion trends.
They use a direct sales model to distribute individual items and packages and acquire clients through social media, mainly Instagram, with a near-zero customer acquisition cost.
During the pitch, Mark objects to the price of their jeans, but Sasha and Erik explain that the price reflects the fact that the clothing is manufactured in the United States.
They generated $300,000 in revenue in a single year, and 38% of their clients repurchased. They invested $10,000 each and expect to earn $500,000 in a year.
Kevin offers $200,000 for a 50% stake in the firm, citing that they are still too far away from profitability.
However, Sasha and Erik refuse to give up more than 15% of their company’s stock, so they counter with an offer of $200,000 for a 15% stake in the business, a $100,000 line of credit, and free clothing for life.
Robert interjects with an offer of $200,000 for a 25% ownership in the firm and a $100,000 line of credit, warning them not to counter.
Mark agrees with Robert’s offer, but Sasha and Erik are unwilling to give up so much of their company’s stock.
They counter with an offer of $100,000 in exchange for 17% equity in the business, but Robert refuses to accept their offer, and they leave the pitch without a deal.
After the broadcast of their pitch on Shark Tank, Sasha and Erik state that they were unable to close the deal because they estimated the firm was worth between $1.5 million and $2 million, and Robert’s offer was significantly less.
However, in the year after their appearance on Shark Tank, the firm experienced exponential growth, increasing by 20% to 100% every month.
They now have 12 retail locations in California, New York, Austin, and Atlanta, with plans to add another half-dozen in 2021, and their annual revenue is around $16 million.
Competitors of Buck Mason
The company has many competitors in the market. These are; Harrods Limited, John Lewis Partnership plc, Scanstation Computers Ltd, Selfridges & Co. 3,000, Harvey Nichols, Rosary Bay Limited, Soraya Interiors and eClerx Services LTD.
Net Worth of Buck Mason
The company net worth is estimated to $2 million in 2021.
Buck Mason FAQs
What is Buck Mason?
Buck Mason is a luxury clothing company that offers button-up shirts, chinos, and other apparel geared to the modern gentleman.
Who is the founder?
Buck Mason was founded by two guys, Sasha Koehn and Erik Allen, who were neighbors in Venice, California.
What is their offer on Shark Tank?
They were asking for $200,000 for an 8% stake in the company for a valuation of $2.5 million.
Did they get the deal?
No, they did not.
Is still in business?
Yes, and is still expanding across the country.
What and where is their headquarters?
Their headquarters is in Venice, California.
In their website, they have a list of stores where you can find them. They are located in Boston, Dallas, Miami Beach, Nashville, New Orleans and NYC.
What is the demographic?
The firm’s ideal customer is a sophisticated professional man who appreciates quality and timeless style. In other words, their target customer is a guy with a refined taste for classic clothing.
Are they profitable?
Yes, over the past year, they’ve generated over $3 million in revenue and expect to generate $6 million by 2021. On top of that, they’ve also made over $1 million in investments from outside sources.
How much does Buck Mason cost?
The company products vary in prices: a t-shirt costs $24, an Oxford shirt costs $88 and a pair of slacks costs $135.
What is the Buck Mason phone number?
The phone number of Buck Mason is not available right now.
How old is Buck Mason?
Buck Mason was founded in 2013. This year marks their seventh anniversary.
What is the main product of Buck Mason?
Buck Mason products include clothing items such as T-shirts, Jeans, Shirts, Oxford shirts and athletic wear.
What is the Target Market of Buck Mason?
The target market for Buck Mason products are young professional such as new menswear trends and trends in fashion.
Is Buck Mason a luxury brand?
When it comes down to it, they’re a specialized shop that provides high-quality luxury essentials (think well-made fancy-pants T-shirts and jeans suitable for the workplace) at a very competitive price point.
Is Buck Mason made in China?
Their garments are manufactured in the world’s finest facilities, combining cutting-edge technology with painstaking, handmade excellence.
Since 2014, they’ve manufactured hundreds of thousands of goods in the United States and increased our domestic output by more than 100% every year.
Is Buck Mason ethical?
Buck Mason’s primary fabric is organic, sustainably farmed cotton. All garments are manufactured in factories that are safe, clean, and ethically operated.
What is the net worth of Sasha Koehn?
The estimated net worth of Sasha Koehn is unknown.
What is the net worth of Erik Schnakenberg?
The current net worth of Erik Schnakenberg is unknown.