What Happened to Buttercloth After Shark Tank? (2022 Updated)

 

There is usually some difficulty when it comes to choosing what to dress. Some believe that casual Fridays are an occasion to dress casually. Nonetheless, if you want to dress casually in clothing correctly on a Friday, Buttercloth could have something for you.

Buttercloth is a California-based company that makes formal shirts that feel “like your favorite t-shirt.”

If you are familiar with the name, you may have seen the presentation of Buttercloth on Shark Tank. A designer from Long Beach named Danh Tran, who understands the dilemma of choosing between comfort and elegance, came up to pitch on the show.

To have both elements can be challenging, that is why Danh Tran created The Buttercloth, a collection of dress shirts manufactured from a one-of-a-kind mix of 100 percent cotton fiber fabric.

The shirts are entirely constructed of “long fiber cotton,” which has a six-way stretch, and are “breathable.” Moreover, according to an entrepreneur, the shirts are like Bing “wrapped in a Caribbean hammock. However, it is ready to deliver a NASA lecture.”

Buttercloth prices range from $98 to $118 and are only available on the company’s website. Each shirt costs about $20 to $25, including delivery.

For the first seven months in business, Buttercloth has earned more than $500,000 in total sales despite the entrepreneur’s estimate that a single client’s acquisition costs about $40. And, Buttercloth has only used Facebook and Instagram for marketing.

The entrepreneur claimed that he is looking for a $250,000 investment, with two-thirds going into goods purchase and the remainder toward “in-house marketing,” but he would also accept advice on how to deal with it.

Company Overview in Shark Tank

Company Name Buttercloth Shirts
Website / Social Media         buttercloth.com
Episode          Season 10 Episode 4
Product Offering       Professional-looking and comfy cotton shirts
Founded 2018
Founders Danh Tran, Gary Falkenberg
Required Investment $250,000 with 10% equity
Closing Deal $250,000 with 25% equity
Offered Sharks          Robert Herjavec
Current Business Status In Business

What is Buttercloth?

It is one of the most famous brands for men’s dress shirts entirely made of cotton and does not easily retain body odor or wrinkle.

In October 2018, this basketball player, a business partner, and a fashion designer proposed Buttercloth to Shark Tank.

How Does Buttercloth Work?

The emphasis of the company is on ensuring comfort and softness which is exclusively made for men.

Buttercloth’s motto is “The World’s Most Comfortable Shirt,” which aims to appeal to guys who spend all day at work with their working uniform and want to be exceptionally comfortable.

The shirt is composed of very comfy fabric, as the company advertises. It feels like a comfortable T-shirt you’ve owned for years, yet you will want to wear it because it’s too wonderful.

The shirt looks great, but wearing it is a whole other experience. Furthermore, the fit is superb, which helps you appear excellent while wearing it. Additionally, The shirts have very stunning patterns, and there is a diversity of styles to pick from.

Moreover, picking a size is also not a problem, as you can buy anything that ranges from the smallest size to XL in slim-fitting clothes, which will suit you perfectly if you have a bigger body type.

Who Founded Buttercloth? Founder Backgrounds

Danh, the developer of Buttercloth, spent a brief period growing up in Vietnam before going to America. 

As a kid, Danh used to work at his family’s tailor business in Vietnam. He started producing his clothes to achieve his dream of turning into one famous fashion designer.

Before attending fashion school, he started his work at Mattel, designing clothing for Barbie dolls. After selling his house and taking a loss on his 401(k) savings, he invested $250,000 of his budget into the company.

In 1994, when his family shifted to California, he pursued a career in fashion prior to his landing a job at Mattel.

He received his bachelor’s degree in fashion at Otis College. After selling his belongings and cashing in his retirement plan, he established Buttercloth.

Buttercloth Business Before Shark Tank

A Vietnamese national, Danh Tran, resides in the Long Beach area of California with his wife and two children. He has had a love for fashion design since he was a child, and he has devoted his whole life to pursuing it.

This designer has come up with a line of stylish and comfortable shirts.

Co-founded with his dad in Buttercloth, Danh proposed to the sharks of 250,000 US Dollars in exchange for equal ownership.

Buttercloth During Shark Tank Pitch

Three people, namely Danh, Metta, and Gary, join the Shark Tank, searching for 250,000 US dollars for a 10 percent stake. However, for most of the parts, Dan’s pitch steals the show.

He becomes teary as he informs the Sharks about his devastating immigration journey. Robert, one of the Sharks and an immigrant, becomes teary-eyed because Danh says he put in his 401(k) budget and even sold his home to get Buttercloth off the ground.

The company uses social media to conduct all of its marketing. They have made approximately 500,000 US dollars in sales counting from 2017. The most challenging issue is acquiring new customers. Danh and his team currently spend approximately $40 to attract new clients. They’d want to enlist the aid of a Shark in this matter.

Four sharks decline the offer to support Buttercloth. Kevin is scared of the prices, so he’s out. Mark agrees that Buttercloth should allocate more money to marketing. Lori thinks that Buttercloth might be a competition, hence she rejects the offer. Lastly, Charles believes it is too hazardous and withdraws as well.

The only remaining of the Sharks is Robert. He has shown keen interest in their web approach and is able to aid the business. Robert proposed 250,000 US dollars for a 25 percent stake. However, Danh complains and argues, but Robert maintains his position, and Danh agrees.

Buttercloth Closing Deal in Shark Tank

Robert allocated 250,000 US Dollars in return for a 25 percent share in the firm. Originally, Buttercloth joined the program looking for $250k and aimed for a 10 percent stake.

Robert told Buttercloth that he might be able to help them with their customer acquisition and marketing costs, which were estimated to be approximately $40.

Robert is following through on his promise. He is aiding in the marketing and selling of his collection under the Buttercloth name.

Buttercloth After Shark Tank

Buttercloth’s sales increased after the show aired. The firm had only sold half a million US dollars in seven months before participating in the program. Following that, it sold for $500,000 in only two weeks!

The firm had been modified a year following its first debut. They now had a warehouse and an office, including marketing, design, logistics, accounting, and customer service crew.

They expected to sell approximately 50,000 clothes in 2019, and 100,000 shirts in 2020.

In terms of product variety, they planned to introduce sweaters and polo shirts in 2019; however, sweaters are not yet available.

In 2020, they wanted to expand their offerings to include henleys, shirts, and jackets. They also intended to launch a garment with a revolutionary fabric technology that actively cooled the body.

Moreover, Buttercloth had also planned to begin delivering to mortar and brick businesses, but the coronavirus outbreak is likely to have put a stop to that ambition. Instead, they sell face masks that are reversible and come in four distinct patterns that are meant to be as pleasant as their shirts.

Over 17,000 people have followed The Buttercloth account on Instagram, while the Facebook page has 7,600 likes. Furthermore, the reviews are overwhelmingly good. So, does wearing a Buttercloth shirt make you feel like you’re draped in a hammock inside the Caribbean beneath a palm tree and make you appear like you’re delivering a keynote speech at NASA? It may be worthwhile.

Current Update: Is Buttercloth Still In Business?

Since the show’s debut less than a year ago, Buttercloth has debuted a “Robert Herjavec Collection.” They are provided an update section that introduces them to the collections.

Even though the deal with Robert has been concluded, the firm seems to be doing well today. In addition, the Buttercloth name has become associated with high-end men’s shirts. Buttercloth, on the other hand, did not end there. There are now more celebrity sponsors, and sales increased during concert night, as they typically do.

They have extended their apparel line to include a variety of styles, and they have even released a Covid-appropriate mask that is as soft as butter.

Their new collection includes sweaters, coats, and fashionable polo necks, all made from the fabled 100 percent cotton butter-soft fabric. The company designed shirts made of 29 percent mint fiber, which constantly cools you down as you wear them, which is called Icy Cotton Polos.

New initiatives are in the works. However, some have been halted because of the Covid-19 epidemic.

The company is performing incredibly well, with annual revenue of $6 million as of June 2021 and they include underwear products in July.

Buttercloth 10.0 was published in September 2021. This new fabric product is ten times softer compared to their old one.