Buttercloth Shark Tank Net Worth 2023
Buttercloth appeared seeking an investment of $250,000 in exchange for a 10% ownership stake in the company. This would have valued the company at $2.5 million.
However, during the episode, one of the investors on the show, Robert, offered to invest $250,000 but in exchange for a larger ownership stake of 25%. This would have valued the company at $1 million. The company accepted Robert’s offer.
What is Buttercloth? Who Founded Buttercloth?
Buttercloth is a clothing company located in Long Beach, California, that specializes in creating dress shirts that are as comfortable as casual shirts but with a more formal appearance.
Each shirt is made entirely of cotton fiber and has a 6-way stretch. The price range for the shirts on the company’s website is between $98 and $118.
The founder of Buttercloth, Dahn Tran, is originally from Vietnam and moved to California at a young age. He experienced discomfort when wearing formal shirts, so he began to develop textiles that had the same feel as t-shirts.
In 2017, he established Buttercloth to pursue his passion for fashion design. The company caters to individuals who are looking for comfortable shirts with attractive fits and patterns.
Buttercloth prides itself on the uniqueness of its products compared to other well-known brands. The shirts are available in a range of sizes and styles, and the company encourages customers to give gift cards to friends or order surprise boxes in addition to purchasing shirts.
Tran’s story is intertwined with Buttercloth’s. As a child in Vietnam, he worked at his family’s tailor shop and began making his own clothing as he pursued his dream of becoming a fashion designer.
After relocating to California in 1994, he took fashion lessons and eventually paid for an Art and Design course at Otis College with his own money, earning a bachelor’s degree in fashion. Later on, he cashed out his 401k, sold his property, and founded the Buttercloth company.
Buttercloth products are currently available for purchase on Amazon.
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Buttercloth Shark Tank Pitch
In the autumn of 2017, Metta World Peace invested in Buttercloth, bringing with him his celebrity status and expertise in e-commerce.
After retiring from basketball, he studied digital analytics and marketing at UCLA to enter the digital marketing sector and monetize his brand.
Metta was drawn to Buttercloth’s comfortable and well-fitting shirts, even wearing one on the Celebrity Big Brother season finale in early 2018.
In October 2018, Buttercloth’s fashion designer Dahn Tran, business partner Gary Falkenberg, and investor Metta World Peace appeared on Shark Tank seeking a $250,000 investment for a 10% stake in the company, with a $2.5 million valuation.
Although Danh was the primary presenter, Metta and Gary shared their connection with the company. Danh shared his emotional immigration experience and how he sold his property and 401K to launch Buttercloth, which has generated approximately $500,000 in sales since 2017, with all marketing done through social media.
However, client acquisition was a significant challenge, with a cost of around $40 per customer. Kevin and Mark backed out due to concerns about customer acquisition costs, while Lori declined due to a conflict of interest with her other fashion lines.
Charles was not present, leaving Robert as the sole investor. Robert loved the company’s web strategy and offered $250,000 for a 25% stake, which Danh initially protested but eventually accepted.
Since the show aired, Buttercloth has added celebrity sponsorships and released a “Robert Herjavec Collection,” contributing to their $6 million yearly revenue as of June 2021.
They have also expanded their range, adding undergarments in July 2021 and a new fabric called Icy Cotton Polos, which actively cools the wearer and is available in multiple colors and patterns.
The company will release Butter Cloth 10.0 in September 2021, which features a fabric ten times softer than their previous version and is available in both shirts and undergarments.
Buttercloth Net Worth
Buttercloth on Shark Tank, seeking $250,000 for a 10% stake in the company. This shows a $2.5 million valuation.
He accepted an offer from Robert of $250,000 for 25% thus valuing at $1 million.
Buttercloth Competitors
Butter Cloth Competitors are as follows; Freecultr, Isaora, Greyy and Bareblow.
Buttercloth FAQS
What happened to Butter Cloth after shark tank?
Following its appearance on Shark Tank, the firm acquired an office, warehouse, design team, customer service representatives, accounting, and logistics.
Tran stated that they hoped to sell more than 50,000 shirts in 2019 and more than double that figure this year.
Butter Cloth has now manufactured Polo’s, sweaters, and coats in addition to shirts.
Do Butter Cloth shirts run small?
Their shirts are a little smaller in size than other major brands. If they are in between sizes or want a looser fit, please purchase one size higher.
Are Butter Cloth shirts wrinkle free?
They are convinced that once they wear one of their shirts, they will never wear another.
What is Butter Cloth made of?
According to the Butter Cloth website, their shirts are constructed of 100% natural and sustainable long fibre cotton with a 6-way stretch for ultimate comfort.
The goods are available in a variety of styles and sizes.
Is Buttercloth any good?
The cloth is quite soft. With the amount of flexibility these shirts provide, it’s difficult to imagine they’re made of 100% cotton.
But when they put it on for the first time, they can definitely tell the difference. Buttercloth has a constant style thanks to its unique hues and contradictory cuffs and collars.
How do Buttercloth shirts fit?
Buttercloth’s button-up fit like it was custom-made for me. The fit is slender, with narrow sleeves and a long torso.
How do they clean Buttercloth?
Laundry at home: Wash in cold water on delicate, then tumble dry on air fluff or lay flat to dry.
Who owns Buttercloth?
Danh Tran founded his now-successful firm Buttercloth after discovering that formal shirts were really uncomfortable.
He went all-in on his aim of making dress shirts as comfy as t-shirts, even selling his home to make it a reality.
Is Buttercloth any good?
The cloth is quite soft. With the amount of flexibility these shirts provide, it’s difficult to imagine they’re made of 100% cotton.
But when they put it on for the first time, they can definitely tell the difference. Buttercloth has a constant style thanks to its unique hues and contradictory cuffs and collars.
What is Buttercloth all about?
Buttercloth is a clothing line that offers shirts and undergarments that are soft, comfortable, durable, and wrinkle-free. Their goods are produced using 100% long-staple cotton.
Where can they buy Buttercloth?
Buttercloth is available online at their website, or on Amazon. They can also visit their retail partners.
Where can they connect with Buttercloth?
They can connect with Buttercloth on Facebook, Twitter and Instagram.
Where is Buttercloth located?
Situated in long beach, California,
What are strengths of Buttercloth?
Buttercloth offers a unique, stylish shirt that is both stylish and comfortable. It’s also incredibly soft, which may set it apart from other shirts.
What are weaknesses of Buttercloth?
Finding the right size is a bit difficult so it’s important to have the correct measurements.
What are the different styles of Buttercloth?
Buttercloth shirt, long sleeve, and polo.
Did Buttercloth secure an investment from the Shark Tank?
The company secured a $250,000 for a 25% stake in the business from Robert Herjavec.
