Ash and Anvil Shark Tank Update – Ash and Anvil Net Worth 2024

A major issue that Detroit-based Eric Huang and Steven Mazur identified concerned shorter males when they were shopping. The majority of clothing in stores was either too long, too huge, or too baggy. They felt it was unjust that males who were shorter had to shop in the children’s section or wear clothes that were too small.

Many males felt uneasy about this. Thus, Ash and Anvil were founded by Eric and Steven. They produced apparel for shorter guys, such as shirts. They fit flawlessly. They brought a big idea to Shark Tank Season 9 and entered the tank. Their goal was to instill confidence in shorter men. They would therefore offer them well-fitting clothing. They want $100,000 from the Sharks, or 12.5% of their business.

ash and anvil net worth 2024

Eric Huang and Steven Mazur asked for a $100k investment in exchange for 12.5% equity in their company. This meant they valued their company at $800,000. Mark Cuban made a deal for $150,000 in exchange for 25% of their company, which valued their company at $600,000.

After the show aired, Ash and Erie saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Ash and Erie in 2024 is about $2.54 million.

Ash and Anvil Shark Tank Update

Ash and Anvil continued to put in a lot of effort even after their stint on Shark Tank. Their company was able to expand. They were forced to adopt a new name. Anvil and Ash, according to another business, were too similar to theirs. Thus, Ash and Erie became the firm name. Despite the failure of the Mark Cuban deal, Eric and Steven persisted. They proceeded in moving forward, even managing to raise funds independently from other investors.

The business had already generated over $1 million in revenue by 2018. That is a significant number of shirts sold to needy shorter men! Their annual income increased to more than $1 million by 2021. Their company was even more successful in 2023, bringing in over $2 million annually. They added jeans, polos, and even raincoats to an already extensive collection. Even now, Ash and Erie continue to support shorter men in feeling better about their clothing choices.

In terms of an Ash and Anvil update, Sure enough, Steven and Eric closed a deal on Shark Tank. For 25% stock, Mark Cuban made them an offer of $150,000. The entrepreneurs’ initial requirement was exceeded by this. They first sought $125,000 for a 12.5% stake in the company.

Another Shark, Kevin O’Leary, also put in a bid. Kevin proposed a $100,000 deal with 15% equity. Although they liked both offerings, the business owners went with Mark’s. $150,000 for 25% stock was his offer. But the agreement with Mark Cuban collapsed following the show, so it never went through. But even without the agreement, the business continued to prosper.

Sharks Names	Demand & Offer	Counter Offer	Accepted ?
Mark Cuban	$150,000 for 25% equity.	N/A	Yes
Kevin O’Leary	$100,000 for 15% equity.	N/A	N/A
Daymond John	Out	N/A	N/A
Robert Herjavec	Out	N/A	N/A
Lori Greiner	Out	N/A	N/A

Ash and Anvil Shark Tank pitch

In our Ash and Anvil update research, Eric and Steven were both shorter men who knew the struggle of finding clothes that fit. Many shorter men face this issue, especially with dress shirts. Eric and Steven wanted to fix this problem. It affected many men shorter than 5 feet 8 inches, not just themselves. They decided to create a clothing line. It would help shorter men feel better in their clothes.

At first, they faced many challenges. They needed money to make more clothes and reach more customers. They had to figure out how to make the perfect-fitting shirt and how to make it affordable. They found it challenging to start the business, but they were determined to assist people like themselves

In regard to an Ash and Anvil update, They mentioned it’s difficult for shorter men to obtain clothes that fit when Eric and Steven entered the Shark Tank. They even talked about their personal difficulties. They then displayed Ash and Anvil, their apparel line, to the Sharks. They tore their clothes off. The shirts in their collection fit precisely.

The Sharks were impressed with the look of the shirts. Steven and Eric requested $100,000 for a 12.5% stake in their company. They requested the funds so they could expand their company and purchase more inventory. In nine months, they claimed to have made $130,000 in sales. A huge audience of shorter guys had the need of clothes to wear.

The Sharks had some questions for Eric and Steven. Robert Herjavec asked what they meant by “short.” They said it was anyone 5 feet 8 inches or shorter. Daymond John, one of the Sharks, is 5 feet 8 inches tall. He joked by measuring himself against the entrepreneurs.

Kevin O’Leary wanted to know how much each shirt cost to make and how much they sold it for. Eric and Steven explained that it cost them $35 to make each shirt and they sold them for $79. They also explained that they needed the money to make more shirts and grow their business.

The business concept impressed the Sharks. They were pleased that Eric and Steven were providing much-needed wardrobe options for a sizable group of males. Mark Cuban made a fast offer of $150,000 for a quarter of the business. Though Mark was confident in the company, this went above and beyond what Eric and Steven had requested.

An offer was also made by Kevin O’Leary. He made a $100,000 offer for 15% of the business. However, Mark Cuban declared he was out as soon as he heard Eric and Steven were considering Kevin’s offer. At that point, Mark was asked if he would still stick to his deal by Eric and Steven. Mark agreed and their offer of $150,000 for 25% equity was approved.

Things didn’t go as planned, despite the fact that Mark Cuban made a deal for Eric and Steven. The show delayed the closing of the contract. Deals that are struck on Shark Tank may fall through for various reasons when they are done in real life. But Eric and Steven were unfazed.

They kept up their diligent work and looked for other sources of funding for their company. A few sharks, such as Lori Greiner and Robert Herjavec, made no bids. They didn’t believe they were a suitable fit for the company. Making garments for shorter men was not something that Daymond John was fond of. Thus, he too did not extend an offer.

Product Availability

Ash and Erie design clothing for males who are under five feet eight inches tall. They include polos, rain jackets, pants, and shirts in their product line. The brand wants shorter men to look good in clothes that fit them well. The Ash and Erie website offers products for purchase online.

Their pants run approximately $159, and their tees are roughly $79 each. If the clothing doesn’t fit, they have an excellent return policy and give free shipping inside the United States. Ash and Erie are always expanding and bringing new items to their apparel collection.

Conclusion

From Ash and Anvil, Eric and Steven set out to address an issue that many shorter guys encounter. They designed a line of clothes that fit men precisely who are shorter. Their company was exposed to a wider audience thanks to their Shark Tank experience. Even if their agreement with Mark Cuban fell through, they were successful.

Currently, Ash and Erie, their company, is profitable, bringing in more than $2 million annually. The business gives shorter men confidence boosts and helps them discover clothes that fit. Ash & Erie is headed for even greater success in the future with new goods and an expanding clientele.