Sun-Staches Shark Tank Update | What happened to Sun-Staches after the Shark Tank Pitch
What is Sun-Staches?
Sun-Staches are novelty sunglasses that allow them to “carry the party with them wherever they go.”
They are essentially plastic sunglasses with bizarre patterns, including additional components that dangle down over their face or pop up over their forehead.
There are several designs available for both children and adults. There’s one that looks like a football helmet and has a plastic face mask that drapes down over your mouth.
Another pair transforms you into Santa Claus, another into a cat, and still another into a firefighter or a cowboy. The designs are quite detailed, with several ingenious elements and intriguing touches.
Who is the Founder of Sun-Staches?
Dan Gershon, David Levich, and Eric Liberman, the developers of Sun-Staches, are high school friends.
Dan graduated from the University of San Diego with a Bachelor of Science in Management Science. David and Eric went to California State University, Northridge to study.
David, the first Sun-Staches designer, began by selling watches but then enlisted the help of his buddies before capitalizing on the then-growing market for sunglasses.
Sun-Staches was created after the three decided to help a buddy who couldn’t grow a mustache develop one by sticking a mustache on a pair of sunglasses.
What began as a joke quickly became the beginnings of a series of novelty sunglasses with mustaches affixed.
This is when the crew realized they could improve even more and began producing themed sunglasses.
They launched their enterprise with a little $200 and, within a few years, had a whole array of characters ranging from cowboys to pirates and licensed Sun-Staches with sports teams like the Ninja Turtles.
Customers included Bill Murray, Justin Bieber, and a slew of other celebrities. The glasses were available on Amazon as well as at Urban Outfitters, Toys R Us, and Party City.
What happened to Sun-Staches at the Shark Tank Pitch?
David, Eric, and Dan appear on Shark Tank Season 6 Episode 5 in search of $300,000 in exchange for 5% equity. This represents a $6 million valuation.
The Sharks are taken aback by that number and amused by the items, but the expressions on their faces indicate that they are not taking them seriously.
They distribute sample Sun-Staches, including a cowboy for Robert, a black cat for Lori, a devil for Mr. Wonderful, a football helmet for Daymond, and a leprauchaun for Mark (who refused to wear it).
When the Sun-Staches folks inform the Sharks they made $5.7 million in sales last year, the Sharks take notice.
They sell online as well as at specialty stores such as Toys R Us and Party City. The goods retail for $7.99 to $12.99, and they are made for $0.75 to $1.50 apiece.
The Sharks enjoy the profit margins and the $750,000 in revenue.
Mr. Wonderful disagrees with the estimate, believing they are worth $2.5 million. The men then inform them that Target wants them in ALL of their shops. Sun-Staches’ main game is licensing, which is why they want a Shark.
Lori Greiner indicated that she was out because she didn’t feel enthused or passionate about the product.
Mr. Wonderful shortly followed, indicating that he, too, was leaving since he thought they were not going to reassess their firm to a pricing range he agreed with.
According to Robert Herjavec, you are in love with the future, but you must be realistic about where you are now. He’s gone.
The boys want to hear an offer, and Mark wants to know the bottom line. Mr. Wonderful advises they ask for $300,000 for 20% and then reduce it to 10%. Right before the break, Daymond states they’re ready to flush the toilet.
When they return, Daymond offers to assist with licensing and $300,000 for a 25% stake; he promises to take them to $20 million in a year or two.
The boys respond with $300,000 for a 12 percent stake in a partnership with Mark and Daymond, but Mark withdraws.
They challenge Daymond with $300,000 for 15%, Daymond answers with 20% and requests a quick response, they react with 17%, but Daymond remains strong at 20%, and they reach an agreement.
Sun-Staches after the Shark Tank Pitch
In the episode 627 update, Daymond reveals that he landed a licensing deal with Marvel for Sun-Staches! Even without the deal, they’ve sold $4.2 million in just 5 months.
Sun-Staches apparently tried to license with Marvel before, but they were turned down. It was made possible by Daymond and the Shark Tank effect.
Daymond hosts Bombas, MySelf Belts, Sun-Staches, and Cozy Bug at an entrepreneur workshop about increasing internet sales in an episode 712 update segment.
Celebrity chef Rocco DiSpirito is cooking for the group and providing social media advice. According to him, businesses must constantly engage fans in order to increase sales.
They share a gourmet meal, and Daymond claims that these businesses have made over $11 million in sales since appearing on Shark Tank.
He believes they are all going to a whole new level.
Fast forward to November 2021, and the company is still chugging along with a yearly revenue of $5 million.
Sun-Staches Net Worth
The Company Net Worth is $11 million.
There is no competitor identified for Sun-Staches.
What is Sun-Staches?
Sun-Staches are novelty sunglasses that allow them to “carry the party with them wherever they go.” They are essentially plastic sunglasses with bizarre patterns, including additional components that dangle down over their face or pop up over their forehead.
There are several designs available for both children and adults. There’s one that looks like a football helmet and has a plastic face mask that drapes down over their mouth.
Who is the founder of Sun-Staches?
Sun-Staches was founded by Dan Gershon, David Levich, and Eric Liberman.
How much were they seeking in the Shark Tank?
They asked for $300,000 in return for 5% equity.
Did they get the deal from the Shark Tank?
They did! They received a $300,000 offer from Daymond John for 20% equity.
Is Sun-Staches still in business?
Yes, As of November 2021, and the company is still chugging along with a yearly revenue of $5 million.
What episode of Shark Tank was Sun-Staches featured?
They were on Season 6 episode 5.
How much is the company worth?
They are worth $11 million.
When was Sun-Staches on Shark Tank?
They were on Shark Tank on October 17th, 2014.
Can they track their package?
Yes! They will get an email with their tracking number once their item has been finalized and is ready for dispatch.
Do they offer free shipping?
They do provide free delivery to the United States on all orders over $25.
Do they ship internationally?
They are currently unable to ship worldwide. They are working on a solution to make this work and will provide an update as soon as possible.
Do they have Party Favour packs available?
Yes! All of their $7.99 kids’ sunglasses are available in 3 and 6 pack quantities, making them ideal for any birthday celebration.
These packs may be found in the quantity drop-down box on each Lil’ Character product page.
They would like to place a bulk order of Sun-Staches. Where should they go to do that?
They’d be delighted to chat with them, whether they’re a shop owner or a distributor. Please contact [email protected] and they will assist them.
What is the net worth of Dan Gershon?
Dan Gershon’s net worth is unavailable.
What is the net worth of Dave Levich?
Dave Levich’s net worth is unavailable.
What is the net worth of Eric Liberman?
Eric Liberman’s net worth is unavailable.