Dapper Boi Shark Tank Update – Net Worth, Pitch & Deal

Charisse and Vicky appeared on Shark Tank Season 14, Episode 20 to present their unique product. They have a clothing business designed for neutral genders. They asked for an investment of $250,000 in exchange for 5% equity in their company.

The couple began with a simple but powerful idea. They belong to the LGBTQ Their clothes are designed in a stylish but gender-neutral fashion. The owners acknowledged a gap in the clothing market that goes beyond traditional gender norms. Charisse and Vicky were dedicated, creative, and passionate when they launched Dapper Boi. But did they get a deal on Shark Tank? Let’s find out.

Dapper Boi Net worth

Charisse and Vicky asked for a $250k investment in exchange for 5% equity in their company. They valued their company at $5 million at the time of the show. Unfortunately, they couldn’t secure a deal. Despite this, when the episode aired, Dapper Boi got a good boost in website traffic, sales, and social media exposure. As per my rough estimate, with the 10% growth rate (typical business growth) over the years, the current net worth of Dapper Boi is around $8.05 million.

What happened to Dapper Boi after the shark tank?

Dapper Boi is still in business and making great sales. Despite not getting any deals on Shark Tank, they got a boost in exposure. They have increased their website traffic and sales. There was a time when they had approximately $450k in debts. But they worked hard and managed to save their business and today, they are an inspiration for new entrepreneurs in their community.

Did Dapper Boi get a deal on the shark tank?

No, Dapper Boi did not get a deal. The sharks felt that the amount of work and investment needed was too much, and they disagreed with the founders’ vision and business model. The sharks were concerned about finances so none of the sharks wanted to invest in their business.

Shark(s) NameOffer and Demand
Mark CubanOut
Lori GreinerOut
Kevin O’LearyOut
Barbara CorcoranOut
Damon DashOut

Dapper Boi Shark Tank Update

dapper boi net worth

Founders backstory

Dapper Boi was founded in 2015 by Vicky and Charisse Pasche. The inspiration behind this brand was Vicky’s personal struggle, which relates to gender identity and body type. As she had a masculine body, Vicky found that traditional clothing for women didn’t suit her style. So, she created a clothing brand named Dapper Boi that would be fit for neutral gender and for those women who have a masculine body.

Vicky and Charisse designed the clothes for the individuals who did not comply with traditional gender norms. Their goal was to provide stylish but comfortable clothing options that empowered people to express their identity. As they offered they ranges and sizes, the brand quickly got attention for unique products, captivating a dedicated following within LGBTQ+ community and beyond.

In spite of facing challenges, including financial struggles during COVID-19, Pasches was passionate about the business to create a more inclusive and fashionable landscape. Their journey from personal struggle to entrepreneurial success highlights the diversity in the fashion industry.

Initial Pitch

The initial pitch was the uniqueness of their brand like inclusive size and fitting, gender neutral designs, authentic mission, community engagement and representation in fashion. Shark appreciated what they have done for their community. They asked for $250k in exchange for 5% equity in their company.

Despite unique factors none of the sharks got impressed from the deal. In the pitch they highlighted the market gap for neutral gender and inclusive clothing options. Vicky and Charisse mentioned how traditional fashion brands offer a limited clothing choice in the fashion industry. They also emphasized sizes, designs, and authentic representation that’s why they highlighted customer loyalty from the LGBTQ+ community and beyond.

Queries about the product

what happened to dapper boi after the shark tank

Mark Cuban asked about the financial aspects, revenue projections, profit margins, and plans for scaling the company. Vicky and Charisse explained their assumptions and methodologies for generating revenue and profit margins.

Barbara Corcoran was interested in branding and marketing strategies. They had their specific goals and target audience. They showed their social media presence like Facebook and Instagram. Collaborations and paid partnerships were also part of branding and marketing. Vicky and Charisse highlighted the educational content to raise the awareness of gender diversity.

Kevin O’Leary focused on cost structure, sales channels, and customer acquisition costs. Vicky and Charisse mentioned bulk purchasing, optimization of the production process to minimise the waste. They mentioned advertisement, influencer paid partnerships and email marketing.

Lori Greiner was interested in the development process and expansion of the product line. The owners of the brand explained about the launching of new products and inclusive and innovative designs that could grab the larger audience. They also mentioned the durability and comfort of their products. They emphasized feedback also.

Daymond John was interested in the inspiration and personal experience behind Dapper boi. Vicky and Charisse shared their personal journey, mission, values, community impact and vision for the future.

Sharks’s responses and final deal

There are different factors that sharks did not accept the deal. Sharks declined to invest in the company. According to the sharks, the entrepreneurs overvalued their company and the requested investment was not enough to solve the company’s problems and fulfill other matters.

What went wrong with Dapper Boi on Shark Tank?

The primary decision was based on the competition in the market. The sharks were concerned about the brand’s financial performance as it was in crisis during COVID-19. Dapper Boi did not fit any investors’ portfolio as there were different challenges in the business, such as scaling manufacturing and distribution and marketing hurdles.

In the last two years, Dapper Boi lost over $450,000, which was a major concern for sharks. Despite being in debt, Mark Cuban questioned how they suffered with the loss regardless of the high margins. Daymond offered mentorship to the Pasches, although he was hesitant to provide financial backing. Lori and Kevin were not interested in the deal.

The sharks were concerned about finances, market perception and execution risks like challenges in the business such as manufacturing and distribution. In the span of 7 years, they made $7 million in sales. As they have only one outlet so they’re selling their products online too, and for this reason, their high shipping costs were very high.

Product availability

Dapper boi products are available to purchase online and have a store in San Diego, California. The products that Dapper Boi sell includes on their jackets, sweatshirts, pants, shorts, hats and socks. For more information you can visit their official website.

Conclusion

Despite their captivating mission and offer, the Sharks ultimately declined to invest in Dapper Boi, citing several reasons such as concerns about valuation, scalability, and financial performance. However, Dapper Boi got the exposure. Although they faced many challenges Vicky and Charisse continued their mission which provided gender neutral clothing for everyone.

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