What Happened to Sun-Staches After the Shark Tank Pitch?
What is Sun-Staches?
Sun-Staches are novelty sunglasses that allow people to “bring the party wherever they go.” They are simply plastic sunglasses with unusual designs, as well as extra components that drop down over their face or pop up over their forehead.
There are a variety of designs for both youngsters and adults. One resembles a football helmet and includes a plastic face mask that drapes over your mouth.
Another pair turns you into Santa Claus, another into a cat, and a third into a firefighter or a cowboy. The designs are extremely detailed, with several inventive components and unique touches.
Who is the Founder of Sun-Staches?
Sun-Staches creators Dan Gershon, David Levich, and Eric Liberman are high school classmates.
Dan earned a Bachelor of Science in Management Science from the University of San Diego. David and Eric enrolled in classes at California State University, Northridge.
David, the original Sun-Staches designer, started out selling watches but quickly gathered the support of his friends before capitalizing on the then-growing market for sunglasses.
Sun-Staches was born when the three wanted to assist a friend who couldn’t grow a mustache grow one by pasting a mustache on a pair of sunglasses.
What started as a joke rapidly evolved into the beginnings of a line of novelty sunglasses with mustaches applied.
This is when the staff thought they could do even better and started making themed sunglasses.
They began with a little investment of $200 and, after a few years, had a plethora of characters ranging from cowboys to pirates and licensed Sun-Staches with sports teams such as the Ninja Turtles.
Bill Murray, Justin Bieber, and a bevy of other celebrities were among the customers. The glasses may be purchased on Amazon as well as at Urban Outfitters, Toys R Us, and Party City.
What happened to Sun-Staches at the Shark Tank Pitch?
David, Eric, and Dan made an appearance on Shark Tank Season 6 Episode 5 in quest of $300,000 in return for 5% equity. This equates to a $6 million valuation.
The Sharks are surprised by the quantity and delighted by the objects, but their reactions show that they are not taking them seriously.
They hand out sample Sun-Staches, such as a cowboy for Robert, a black cat for Lori, the devil for Mr. Wonderful, a football helmet for Daymond, and a leprauchaun for Mark (who refused to wear it).
The Sharks take note when the Sun-Staches people tell them they made $5.7 million in sales last year.
They offer both online and at specialty stores like Toys R Us and Party City. The items range in price from $7.99 to $12.99 and are produced for $0.75 to $1.50 each.
The Sharks are pleased with their profit margins and $750,000 in sales.
Mr. Wonderful, on the other hand, believes they are worth $2.5 million. The men then inform them that Target wants them in all their stores. The major game for Sun-Staches is licensing, which is why they want a Shark.
Lori Greiner stated that she was leaving because she was not thrilled or passionate about the product.
Mr. Wonderful quickly followed, signalling that he, too, was quitting since he did not believe they would review their business to a pricing range he agreed with.
You are in love with the future, but you must be realistic about where you are now, according to Robert Herjavec. He’s no longer there.
The lads are eager to hear an offer, and Mark is eager to learn the bottom line. Mr. Wonderful suggests they ask for $300,000 at 20% and then cut it to 10%. Just before the break, Daymond announces that they are ready to flush the toilet.
When they return, Daymond offers to help with licensing and $300,000 in exchange for a 25% ownership; he pledges to take them to $20 million in a year or two.
The lads offer $300,000 for a 12% ownership in a partnership with Mark and Daymond, but Mark declines.
They challenge Daymond with $300,000 for 15%, Daymond responds with 20% and asks a rapid response, they respond with 17%, but Daymond stands firm at 20%, and they make an agreement.
What Happened to Sun-Staches After the Shark Tank Pitch?
Daymond discloses in the episode 627 update that he has acquired a license contract with Marvel for Sun-Staches! Even without the arrangement, they’ve already sold $4.2 million in 5 months.
Sun-Staches previously attempted to license with Marvel, but were refused down. Daymond and the Shark Tank effect made it feasible.
In an episode 712 update piece, Daymond hosts Bombas, MySelf Belts, Sun-Staches, and Cozy Bug during an entrepreneur workshop about improving internet sales.
Rocco DiSpirito, a celebrity chef, is cooking for the group and offering social media guidance. Businesses, he believes, must continually engage fans in order to grow sales.
They have a sumptuous supper, and Daymond states that since appearing on Shark Tank, these firms have achieved over $11 million in sales.
He feels they are all progressing to a higher level.
Fast forward to November 2021, and the firm is still humming away with $5 million in annual revenue.
Who are the Net Worth of Sun-Staches?
The net worth of the company is $11 million.
Who are the Competitors of Sun-Staches?
Sun-Staches does not have any competitors.
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Sun-Staches FAQS
1. What is Sun-Staches?
Sun-Staches are a line of novelty sunglasses with mustaches applied. The Sun-Staches character glasses are sold as licensed products from apparel lines and franchises around the world.
2. What is the current valuation of Sun-Staches?
The current market value of Sun-Staches is $11 million.
3. What was the original idea behind Sun-Staches?
Sun-Staches was born when the three wanted to assist a friend who couldn’t grow a mustache grow one by pasting a mustache on a pair of sunglasses.
4. Do they offer free shipping?
They do provide free delivery to the United States on all orders over $25.
5. Do they ship internationally?
They are currently unable to ship worldwide. They are working on a solution to make this work and will provide an update as soon as possible.
6. Who founded Sun-Staches?
Sun-Staches was founded in 2006 by David Van Reybrouck, Eric Van Reybrouck, and Damien Van Reybrouck.
7. Where can they purchase Sun-Staches?
They can purchase Sun-Staches online at Urban Outfitters, Amazon.com, and Party City. You can also find them at Toys R Us and Party City.
8. How much were they seeking in the Tank?
They were seeking $300,000 in return for 5% equity. This equates to a $6 million valuation.
9. What happened to Sun-Staches after the Shark Tank?
Daymond discloses in the episode 627 update that he has acquired a license contract with Marvel for Sun-Staches! Even without the arrangement, they’ve already sold $4.2 million in 5 months.
10. Is Sun-Staches still in business?
Yes, as of November 2021, the firm is still humming away with $5 million in annual revenue.
