One Capital City business scored some serious capital on ABC’s “Shark Tank” last week.
Collars & Co., a DC-based menswear brand, landed a deal with legendary investor Mark Cuban and British billionaire Peter Jones. Despite asking for $300,000 for a 4% stake, owner Justin Baer secured a $1 million investment ($300,000 in equity and a $700,000 line of credit) for a 10% stake in the company.
Collar & Co, perhaps best known to locals for its Dress Collar Polo™, a formal-looking collared dress shirt that’s as easy to clean as an athletic polo, has been in existence for less than two years, but already has the likes of Tiki Barber and Sir Nick Faldo sporting its styles.
Owner Justin Baer, an avid entrepreneur, is also the founder of MemberText and Textology. He also built and exited one of the first ticketless check-in apps, Check In Easy, but he says this experience with Shark Tank was truly one-of-a-kind.
“Going on Shark Tank was an incredible, exhilarating, humbling, and once-in-a-lifetime experience,” Baer told K Street Magazine. “18 months ago, I set out to address the gap I saw in men’s office wear to help guys look stylish but still feel comfortable, and I’m just so proud to see how far it’s come.”
“To have two Sharks, who are billionaires, recognize Collars & Co.’s potential to change the landscape of menswear as we know it makes me even more driven and dedicated to the brand’s future. With Mark Cuban and Peter Jones by my side, I’m looking forward to continuing to improve and expand the brand far and beyond what anyone would expect!”
