Hill Billy Shark Tank Net Worth 2023
Hill Mike Abbaticcho and Shon Lees are the owners of a company called Billy Brand. They appeared on the television show “Shark Tank” with the hope of securing a $50,000 investment in exchange for 25% ownership of their company, which would value their company at $200,000.
However, the Sharks made a different offer. They offered to invest $75,000 in exchange for 100% ownership of the company, which would value the company at $75,000.
The owners of Billy Brand accepted this offer, meaning that they gave up all ownership of the company in exchange for the investment from the Sharks.
What is Hill Billy? Who Founded Hill Billy?
The HillBilly Brand is a company that specializes in selling apparel and accessories that cater to a country lifestyle.
Their products range from t-shirts to hunting gear, and they offer both men’s and women’s clothing, including what they call “redneck” t-shirts and tank tops.
The company has expanded its offerings to include trucker hats, various accessories, and even drinks. Mike Abbaticchio, who is the founder and president of the HillBilly brand, hails from Florida and holds a bachelor’s degree in business from Nova Southeastern University.
Meanwhile, Shon Lees, who is the CEO and co-founder, also comes from Florida and had attended Florida State University prior to starting two businesses.
Currently, Abbaticchio and Lees still run the HillBilly brand.
Hill Billy Shark Tank Pitch
Mike Abbaticcho and Shon Lees, the owners of Hillbilly Brand, appeared on Shark Tank seeking $50,000 in exchange for a 25% stake in their apparel line of hats and t-shirts that showcases their brand’s increasing popularity.
This suggested a $200,000 valuation, with the majority of revenues being generated from participating in sporting events and live country western concerts.
Their negotiations with the Sharks were influenced by the fact that Sports Authority had recently acquired Hillbilly Brand.
Robert Herjavec was interested in their sales, and they reported selling $50,000 worth of merchandise in the previous 12 months through events and expected to reach $60,000 by the end of the year.
They also secured a distribution contract with Sports Authority and were in the process of negotiating further arrangements.
When pressed on their valuation, Abbaticchio and Lees defended their $200,000 estimate, citing their sales and the worth of their trademarks. However, Kevin O’Leary was unimpressed and left the negotiations, leaving four Sharks remaining.
Barbara Corcoran felt that she lacked the necessary licensing relationships to assist the men in selling their brand, so she opted out.
Robert Herjavec then proposed that Jeff Foxworthy join the transaction, purchase the brand outright, and license it. Foxworthy agreed and brought in Daymond John, the apparel tycoon.
Herjavec made an offer of $50,000 for the brand, plus a 7% royalty on licensed sales, but Abbaticchio and Lees provided a counter-offer of $100,000 for a 10% stake in the company and a guarantee that they would have the right to repurchase the brand if it fails to sell.
The Sharks responded with an offer of $75,000 for a 100% stake and a 7% royalty on licensed sales, which the men accepted.
Ultimately, the partners were unable to reach an agreement with the three Sharks, and the transaction was rejected. Despite this setback, Hillbilly Brand continued to soar in worldwide prominence.
They expanded their collection to include women’s clothing and even created their own iced tea brand. As of July 2021, the company generates revenue of $1 million per year.
Hill Billy Net Worth.
Hill Mike Abbaticcho and Shon Lees, owners of Billy Brand, came to the Shark Tank seeking a $50,000 investment for a 25% ownership.
Hill Billy Competitors?
Hill Billy Shark Tank Updates
Hill Billy Brand is a clothing line that was featured on ABC’s Shark Tank in 2011. The company owners, Mike Abbaticchio and Shon Lees, were seeking a $50,000 investment for a 25% stake in their clothing line of hats and t-shirts bearing the Hill Billy Brand.
The majority of their sales came from doing sporting events and live country western concerts. During their appearance on Shark Tank, they were able to strike a deal with three Sharks – Daymond John, Robert Herjavec, and guest shark Jeff Foxworthy.
However, after the show aired, they were not able to come to terms with the Sharks, and the deal fell through.
Despite not reaching a final agreement with the Sharks, Hill Billy Brand was able to expand into several new markets and product categories with the help of the advice and exposure they received from the show. The company can now be found at many country music events and several major retailers.
As of 2023, there is no recent update on the company’s progress or whether they have made any new deals with investors or partners.
HillBilly Brand Shark Tank Summary:
|Mike Abbaticchio and Shon Lees
|Shark Tank Appearance
|Seeking $50,000 investment for 25% stake in their clothing line. They were offered $75,000 for 100% ownership of the company by the Sharks.
|Apparel and accessories catering to a country lifestyle, including t-shirts, hunting gear, trucker hats, various accessories, and drinks.
|Mike Abbaticchio (Founder and President) and Shon Lees (CEO and Co-founder)
|$200,000 (before Shark Tank appearance), $75,000 (after accepting Sharks’ offer)
|Robert Herjavec, Daymond John, and Jeff Foxworthy (guest shark). The Sharks offered $75,000 for 100% ownership of the company, which was accepted by the owners of HillBilly Brand.
|The deal fell through after the show aired, but HillBilly Brand was able to expand into several new markets and product categories with the help of the advice and exposure they received from the show.
|$1 million per year (as of July 2021)
|There is no recent update on the company’s progress or whether they have made any new deals with investors or partners.
Hill Billy FAQS
What Is Hill Billy And How Does It Work?
HillBilly Brand is a country lifestyle clothing brand that offers a range of products from t-shirts to hunting gear. The brand was created to provide people who enjoy the country lifestyle with a way to express themselves.
HillBilly Brand fills a gap in the lifestyle clothing market by offering fashionable clothing for those who were born country and raised outdoors. The brand started off selling t-shirts and hats from the back of a truck and has grown into a premier outdoor lifestyle brand.
The creators of HillBilly Brand, Mike Abbaticchio and Shon Lees, appeared on Shark Tank seeking $50,000 for 25% of their company. They were able to strike a deal with Robert, Jeff, and Daymond, giving up 100% of the company.
However, according to a 2023 update on Gazette Review, they were not able to reach a final agreement with the Sharks.
HillBilly Brand’s logo and rights to the word “Hill Billy” extend to the clothing category as of right now and they own three trademarks in the United States and one in Canada.
The brand has been successful at events and has over 30 stores in the Southeast. In addition to that, they also landed a distribution deal with a company that supplies travel plazas and truck stops.
HillBilly Brand Beverages are also coming to a store near you and they are looking for international distributors.
Who Founded Hill Billy?
Mike Abbaticchio and Shon Lees are the founders of Hill Billy.
What Types Of Clothing Does HillBilly Brand Offer?
HillBilly Brand offers a range of country lifestyle clothing products, including t-shirts, hats, and hunting gear. The brand was created to give people who enjoy the country lifestyle a way to express themselves.
HillBilly Brand’s clothing line has been successful at country music events and several major retailers. They also offer HillBilly Vine Whiskey and HillBilly Bourbon. HillBilly Brand is looking for international distributors for their products.
What Was The Outcome Of Hill Billy Shark Tank Pitch?
Hill Billy Brand was able to strike a deal with three Sharks on Shark Tank. The Sharks who invested in the company were Daymond John, Robert Herjavec, and Jeff Foxworthy.
However, according to a Facebook post on their page two days after the show aired, they were still working on the terms of the deal. Despite having struck a deal on the show, they weren’t able to reach a final agreement with the Sharks.
What Happened To Hill Billy After Its Appearance At The Shark Tank?
After appearing on Shark Tank, Hill Billy Brand was able to strike a deal with three Sharks, Daymond John, Robert Herjavec, and Jeff Foxworthy. However, according to a Facebook post on their page two days after the show aired, they were still working on the terms of the deal.
Despite having struck a deal on the show, they weren’t able to reach a final agreement with the Sharks, which caused the deal to fall through.
Hill Billy Brand continued to grow their product line and expand their brand, offering not only clothing but also HillBilly Vine Whiskey and HillBilly Bourbon. They were also looking for international distributors for their products.
What is Hill Billy’s revenue?
According to Mike Abbaticchio in his Shark Tank pitch, they’ve earned $50,000 in sales already in the last twelve months.
Did Hill Billy get an investment from the Sharks?
They accepted an offer from the Sharks of $75,000 for 100% plus 7% royalty on licensed sales.
When was Hill Billy aired on Shark Tank?
Season 3 episode 4, aired on April 8, 2011.
What are their weaknesses of Hill Billy?
Hill Billy is a business started by two individuals who have no background in sales. Their valuation is only $200,000 with little to no track record of sales.
How do Hill Billy make money?
Hill Billy Brand is a country lifestyle apparel business that sells anything from t-shirts to hunting gear.
Men’s and women’s country attire includes what the HillBilly Brand refers to as “redneck” T-shirts and tank tops.
The HillBilly Brand expanded its offering to include trucker hats, a variety of accessories, and even drinks.
What are their Strengths?
Hill Billy is an established brand that has grown immensely in popularity since it was first started. They have also secured high-profile celebrity endorsements from stars like Ozark Mountain Daredevils, Kenny Chesney and Jeff Foxworthy.
Who invested in Hill Billy?
Robert, Daymond and Foxworthy invested in Hill Billy but investment was later decline by the owners.
How many people follow Hill Billy on Instagram?
As of July 2018, they have over 100k followers on Instagram @hillbillybrand.
What does Hill Billy Brand offer?
The HillBilly Brand offers a complete line of country lifestyle apparel, beverages and merchandise based on their “redneck” designs such as T-shirts, hats, accessories and apparel for both men and women.
Is Hill Billy still in business?
Yes, Hill Billy is still in business and currently thriving as a company.
They have expanded beyond clothing to include hats and accessories, drinks and even toys for children.
They’ve also begun selling their branded products in other countries.