Two Guys Bow Tie Shark Tank Update | Two Guys Bow Tie after the Shark Tank Pitch
What is Two Guys Bow Tie?
Two Guys Bow Tie is a Company that manufactures bow ties and other men’s fashion accessories from exotic hardwoods such as African Zebrawood, Peruvian Walnut, South American Bocote, Canary, and others.
There are also different designs, such as plaid and polka dot, with a fabric finishing touch on each bow tie.
They also sell skyline bowties, which show off their clients’ hometown pride.
Who is the Founder of Two Guys Bow Tie?
Two Guys Bow Ties was founded in Tulsa, Oklahoma in 2012 by designers Adam Teague and Tim Paslay.
To address a need in men’s accessories, the couple created handcrafted bow ties that allowed them to combine old school workmanship with current elegance.
Their efforts yielded an original and excellent product, establishing wood as a new and distinct material in the fashion business.
The two have a passion for working with their hands as well as an appreciation for excellent clothing.
This product allows them to do what they enjoy while also presenting a unique product in the menswear business.
Two Guys Bow Ties has already started a trend and has garnered international recognition from tastemakers as well as a large market of stylish clients.
Since opening an Etsy shop early in their career, the firm has gained recognition from Esquire Magazine, GQ, Huffington Post, and other publications.
NBA players Mike Conley and SHAQ, as well as many other celebrities, wear Two Guys Bow Tie merchandise.
Since its inception, they’ve expanded their product line to include wood brimmed fedoras, wooden lapel pins, pocket squares, and beard care items.
You may even “create your own” a bow tie or lapel pin.
What happen to Two Guys Bow Tie at the Shark Tank Pitch?
The two men appear on Shark Tank season 7 episode 3 in search of $150K for a 10% stake in their company. This demonstrates a $1.5 million value.
They instantly suck up to Mr. Wonderful and tell him they wanted to build him something that would set him apart from the fashion crowd.
They give customers bespoke bow tie samples — Lori’s has the Chicago skyline on her bow tie, which she adores!
They go on to say that each bow tie costs $7.50 to create and retails for $45-$95, with internet sales accounting for 75% of total sales.
Last year, Two Guys Bow Ties made $407K in sales, and they’ve made just shy of a million dollars this year. After two and a half years of operation.
They excel at bespoke ties and have the capacity to produce 1000 ties every week.
After NBA players like Shaq and Mike Conley promoted the ties, the business witnessed a significant boost.
Troy says he likes it, but it’s not his area of expertise, so he’s out.
Mr. Wonderful believes bow ties may fit into his love platform (the Something Wonderful Platform). He offers $150,000 in exchange for 15% of the business.
Daymond believes that his licensing and fashion knowledge would be a significant asset to the company, and he is willing to pay $150K in exchange for a 20% stake.
Mark claims that he is not a fashion icon since a hat large enough to accommodate his brains cannot be made, therefore Mark bails immediately.
Lori likes the ties and says she’ll buy them, but she believes Daymond and Kevin would be a better match; she’s out.
The men inquire whether Troy would come in with Daymond, and Daymond says he’d have to go to 30% if that happened, but they still have to ask Troy. After a short pause, Troy says he’s in if they get to 30%.
The boys counter with a 20% royalty plus a 5% royalty until Daymond and Troy’s money is returned.
Kevin says he’ll do a $150K loan for 10% with a 7.5 percent interest rate until his investment is returned, and he’ll place it on his Platform of Love.
Daymond offers $150K for 20% with a 10% royalty, and the boys respond with $150K for 17.5 percent with a 10% royalty, and Daymond exclaims “Contract!” and the guys agree to a deal for $150K for 17.5 percent with a 10% royalty.
Two Guys Bow Tie after the Shark Tank Pitch
The transaction with Daymond was completed. Their revenue more than quadrupled and they increased their employees after the first air date.
They also released wood-brimmed fedoras and a variety of ordinary cloth ties.
Teague launched a second company, Plank and Mill, in 2016. This firm creates salvaged wood peel & stick panels.
Both guys still co-own the company as of August 2021. They employ over 50 individuals and have an annual revenue of approximately $3.5 million.
Two Guys Bow Tie Net Worth
The two men appeared on Shark Tank season 7 episode 3 in search of $150K for a 10% stake in their company. This demonstrates a $1.5 million value.
They accepted an offer from Daymond of $150,000 for 17.5% stake plus 10% royalty thus bringing valuation to be $857,142.85.
Two Guys Bow Tie Competitors
The Tie Bar, Ties Planet, Fossil and OTAA are some of the Two Guys Bow Tie Competitors.
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Two Guys Bow Tie FAQS
What is Two Guys Bow Tie?
Two Guys Bow Tie is an American-based clothing and accessory firm. They sell handcrafted bow ties that are made from exotic hardwoods like African Zebrawood, Peruvian Walnut, Spanish Canary and South American Bocote.
Who is the founder of Two Guys Bow Tie?
Two Guys Bow Ties was founded in Tulsa, Oklahoma in 2012 by designers Adam Teague and Tim Paslay.
How much were seeking in the Shark Tank?
They were seeking $150,000 for a 10% stake in the company.
Did they get the deal from the Sharks?
Daymond offered $150,000 investment for 17.5% stake in the Two Guys Bow Tie with a 10% royalty.
What is Two Guys Bow Tie business model?
The company sells handcrafted bow ties that are made from a variety of exotic hardwoods such as African Zebrawood, Peruvian Walnut, Canary and Spanish Bocote.
Do they ship internationally?
They certainly do! FedEx International is used to transport their items. Bow ties typically take one to two weeks to ship after order placement, depending on the country’s custom procedures.
International shipping is $20, with the exception of Russia, which costs $45. Please keep in mind that certain foreign shipments may be subject to customs or tariffs.
How are Two Guys Bow Ties made?
To enhance the longevity of a bow tie, the wood is shaped, sanded, and then polished with a fine finishing oil.
They laser engrave patterns into the wood for some of their bow ties.
To complete the item, they look for the ideal accenting cloth that would bring out the inherent grain and beauty of the wood.
Approximately how much does each bow tie weigh?
Each bow tie typically weights about 1.5oz.
What neck size do Two Guys Bow Ties fit?
The bow ties include an adjustable band with integrated bow-tie clasps that accommodate neck sizes ranging from 14″ to 21.5″.
What types of wood does Two Guys Bow Ties use?
White Oak, Walnut, Wenge, Padauk, Shedua, Bocote, Sapele, Lacewood, Zebrawood, Canary, Peruvian Walnut, and other exotic woods are available.
What fabrics are Two Guys Bow Ties centrepieces made of?
Their centrepieces are made of cotton, silk, and satin.
Does Two Guys Bow Ties make custom bow ties?
They absolutely do! They may choose their own wood and cloth, and they will construct it. They also give a special discount if you purchase them for a wedding!
Do the bowties come gift-wrapped?
They ship their one-of-a-kind bow ties in similarly one-of-a-kind branded kraft boxes.
Where can they make a press related request?
All press inquiries should be directed to [email protected]
Are Two Guys Bow Ties sold wholesale?
They are, indeed! For further information, please contact [email protected]
What is website of Two Guys Bow Ties?
Two Guys Bowtie Company website is www.woodenbowties.com.
What is The Two Guys Bow Tie phone number?
Two Guys Bow Tie phone number is (405) 612-0116.
