What Happened To Tones of Melanin After Shark Tank?
What Happened To Tones of Melanin After Shark Tank?
Tones of Melanin is a clothing brand that was introduced on Shark Tank by entrepreneur Ashley Jones. The brand aims to represent historically black colleges and universities and celebrates black culture through its designs. After Shark Tank, the brand has continued to grow and expand.
Ashley Jones works in a 2,400 square feet warehouse in Virginia Beach and plans to make the business bigger after a successful appearance on Shark Tank. The brand is estimated to be worth around $2.5 million and is a revenue-generating tool.
The clothing line can be purchased through the official website tonesofmelanin.com or at Nordstrom, Montebello, Bayshore Shopping Centre, and more. In an interview with HBCU Pulse Radio, Ashley Jones talked about her experiences running an HBCU apparel business and being featured on Shark Tank.
Tones Of Melanin Shark Tank Pitch
Ashley Jones, a Norfolk State University graduate and entrepreneur, pitched her clothing line “Tones of Melanin” to the investors on Shark Tank.
The clothing line was created to support historically Black colleges and universities (HBCUs). Jones launched her brand in 2022 and was seeking an investment of $100,000 for 10% equity in her company.
During her pitch, Jones shared that her brand promotes diversity and inclusivity. She also highlighted that the brand’s athleisure wear is made from eco-friendly materials and that the company donates a portion of its profits to HBCUs.
The Sharks were impressed by Jones’ pitch and her commitment to supporting HBCUs. Mark Cuban ultimately made an offer of $300,000 for 33% equity in the company, which Jones accepted. Business strategist Joe Pardo reacted to the pitch and gave his advice on the outcome in a YouTube video.
Outcome Of The Tones Of Melanin Shark Tank Pitch
Ashley Jones, the founder of Tones of Melanin, appeared on Shark Tank on May 19, 2023. During her pitch, she asked for $300,000 for 5% equity. Mark Cuban offered her $300,000 for 15%, but she negotiated it down to 12% and accepted the deal.
Since launching in 2017, Tones of Melanin has made $3.3 million in revenue to date, with $1.4 million in sales in 2022 and $330,000 in revenue so far in 2023. The brand has 40 HBCU licenses, and its gear is sold in major retailers such as Dick’s Sporting Goods, Belk Stores, and Follett College Bookstores.
With the new investment, Jones plans to expand her brand and collaborate with more HBCUs to obtain licensing programs. The Tones of Melanin products, which include t-shirts, hoodies, book bags, and trucker hats, are priced between $20 and $100.
The brand aims to celebrate the culture of Historically Black Colleges and Universities (HBCUs) through a fusion of streetwear, collegiate, and vintage fashion.
Tones Of Melanin Shark Tank Net Worth
Tones of Melanin is a licensed collegiate wear brand that was pitched on Shark Tank and received a deal with Mark Cuban. The founder and CEO, Ashley Jones, is a proud alumna of Norfolk State University, which is part of the Historically Black Colleges and Universities (HBCU).
Since launching in 2017, Tones of Melanin has generated $3.3 million to date and had $1.4 million in sales in 2022. As of 2023, Tones of Melanin is worth between an estimated $2.5 million and $4 million.
The brand also focuses on philanthropy, with every sale generating income for underrepresented institutions and an estimated $50,000 in total donations.
They have partnered with major recreational brands, like Fanatics and Dick’s Sporting Goods, and their products have gotten into Follett Bookstores located at HBCUs. Their product offerings combine streetwear, collegiate, and vintage fashion to create something bold and new.
Tones Of Melanin Shark Tank Updates
Tones of Melanin is a clothing brand created by Ashley Jones to provide more clothing options for people of all skin tones, particularly those attending historically black colleges and universities (HBCUs).
Jones appeared on Shark Tank seeking an investment to help grow her brand, and she ultimately landed a deal with Mark Cuban for $300,000 in exchange for 5% equity.
Since launching in 2017, Tones of Melanin has grown significantly, with 40 HBCU licenses and products available at major retailers such as Dick’s Sporting Goods, Belk Stores, and Follett College Bookstores. In 2022, the brand made $1.4 million in sales, and in 2023, it had already generated $330,000 in revenue.
Although there is no comprehensive update on Tones of Melanin since the Shark Tank appearance, it is clear that the brand has seen significant growth and success since its founding in 2017.
Tones of Melanin Shark Tank Table Summary:
| INFORMATION | DETAILS |
| Brand Description | Tones of Melanin is a clothing brand that represents historically black colleges and universities and celebrates black culture through its designs. |
| Founder | Ashley Jones |
| Investment on Shark Tank | Ashley Jones secured a deal with Mark Cuban for $300,000 in exchange for 12% equity in the company. |
| Company Worth | The brand is estimated to be worth between $2.5 million and $4 million. |
| Revenue | Tones of Melanin has made $3.3 million in revenue to date, with $1.4 million in sales in 2022 and $330,000 in revenue in 2023. |
| Licensing | The brand has 40 HBCU licenses and its gear is sold in major retailers such as Dick’s Sporting Goods, Belk Stores, and Follett College Bookstores. |
| Products | Tones of Melanin offers a range of products including t-shirts, hoodies, book bags, and trucker hats, priced between $20 and $100. |
| Philanthropy | Tones of Melanin generates income for underrepresented institutions and has donated an estimated $50,000 to different HBCU educational endeavors. |
| Retailers | Tones of Melanin products can be purchased through the official website, Nordstrom, Montebello, and Fanatics. |
| Growth | The brand has seen significant growth since its founding in 2017 and continues to expand, aiming to collaborate with more HBCUs to obtain licensing programs. |
| Partnership | Tones of Melanin has partnered with major recreational brands such as Fanatics and Dick’s Sporting Goods. |
| Recognition | The brand was featured on the television show Shark Tank, gaining exposure and securing an investment from Mark Cuban. |
Tones Of Melanin FAQs
What Is Tones Of Melanin And How Does It Work?
Tones of Melanin is a brand that creates apparel and promotional items for Historically Black Colleges and Universities (HBCUs). It is a Black woman-owned business that holds over 33 HBCU licenses.
Tones of Melanin’s mission is to create clothing that brings awareness to HBCUs and to design apparel that represents Historically Black Colleges and Universities. It provides job opportunities for HBCU students and alumni, and the Tones of Melanin team has either attended or graduated from an HBCU.
Melanin is a substance responsible for producing skin and hair pigmentation. It provides pigmentation to your skin, eyes and hair, absorbs harmful UV (ultraviolet) rays and protects your cells from sun damage.
Tones of Melanin, on the other hand, is a modern-day revenue-generating marketing tool for all HBCUs, as well as a supporter of Historically Black Colleges and Universities. It is not a substance related to pigmentation.
Who Is The Founder Of Tones Of Melanin?
Ashley Jones is the founder of Tones of Melanin, a clothing line that supports Historically Black Colleges and Universities (HBCUs).
She is also the owner of the company. Jones recently appeared on the television show Shark Tank and received a $300,000 investment from Mark Cuban.
What Was The Inspiration Behind Tones Of Melanin?
Tones of Melanin is a streetwear brand that was founded by Ashley Jones in 2017 while she was a student at Norfolk State University.
The brand is focused on celebrating HBCU culture and promoting the idea of black excellence. Ashley Jones was inspired to start the brand as a way to showcase the pride and confidence that she felt as a student at an HBCU.
She wanted to create a brand that would allow people to represent their culture and identity in a stylish and fashionable way. The brand has gained popularity and recognition, and was even featured on the television show Shark Tank, where Ashley Jones secured a $300,000 investment from Mark Cuban.
What Are Some Of The Products Offered By Tones Of Melanin?
Tones of Melanin is a licensed collegiate wear brand that offers a range of products including streetwear, collegiate and vintage fashion.
Their merchandise includes reversible jackets, windbreakers, T-shirts, and other clothing items featuring HBCUs (Historically Black Colleges and Universities) logos and designs. The brand is owned by Ashley Jones, who started it in 2017 while she was a student at Norfolk State University.
Their products can be purchased from their website, Fanatics, and Nordstrom. Tones of Melanin aims to highlight all HBCUs to generations to come through their brand.
Did Tones Of Melanin Get A Deal With Shark Tank?
Yes, Ashley Jones, the founder of Tones of Melanin, got a deal with Shark Tank. Mark Cuban offered her $300,000 for 15% equity, but she negotiated it to 12%.
The deal was made on Season 14, Episode 22 of Shark Tank, which aired on May 19, 2023. Since launching in 2017, Tones of Melanin has raked in $3.3 million to date.
Is Tones Of Melanin Still In Business?
Yes, Tones of Melanin is still in business as of May 2023. Tones of Melanin is a modern-day revenue-generating marketing tool for all Historically Black Colleges and Universities (HBCUs) and a supporter of HBCUs.
The brand provides apparel that represents HBCUs and aims to solve the issue of styles that are not suitable for everyone. Tones of Melanin was founded by Ashley Jones, who completed her Bachelor of Science in Business Administration and Management from Norfolk State University in 2015.
The brand is known for being the first-ever HBCU athleisure brand to be pitched to the Sharks on the show “Shark Tank”. Tones of Melanin has 40 HBCU licenses, and its gear is in major retailers, including Dick’s Sporting Goods, Belk Stores, and Follett College Bookstores.
The brand has donated about $50,000 to different HBCU educational endeavors to date. Tones of Melanin brings the HBCU culture to the forefront by partnering with over 18 HBCU Follett Bookstores around the United States.
Where Can I Buy Tones Of Melanin Products?
You can buy Tones of Melanin products from several places, including:
- Official website: Tones of Melanin products can be purchased through their official website tonesofmelanin.com.
- Nordstrom: You can buy Tones of Melanin products online or in-store at Nordstrom.
- Montebello: Tones of Melanin products are available at Montebello Town Center.
- Fanatics: You can find Tones of Melanin merchandise at Fanatics.
It’s important to note that due to an influx of orders, it may take 2-3 weeks for your order to arrive.
