What Happened to Two Guys Bow Tie After the Shark Tank Pitch?
What is Two Guys Bow Tie?
Two Guys Bow Tie makes bow ties and other men’s fashion accessories out of exotic hardwoods like African Zebrawood, Peruvian Walnut, South American Bocote, Canary, and others.
Different styles, such as plaid and polka dot, are also available, with a fabric finishing touch on each bow tie.
They also sell skyline bowties, which display their customers’ pride in their hometown.
Who is the Founder of Two Guys Bow Tie?
Designers Adam Teague and Tim Paslay launched Two Guys Bow Ties in Tulsa, Oklahoma in 2012.
To fill a gap in the market for men’s accessories, the couple produced handcrafted bow ties that combined old school craftsmanship with modern elegance.
Their efforts resulted in an innovative and high-quality product that established wood as a new and distinct material in the fashion industry.
They have a love of working with their hands as well as a taste for high-quality apparel.
This product allows them to do what they love while also offering a one-of-a-kind product in the menswear industry.
Two Guys Bow Ties has already created a trend and received international acclaim from tastemakers as well as a large market of fashionable customers.
The firm has received acclaim from Esquire Magazine, GQ, Huffington Post, and other publications since starting an Etsy shop early in their career.
Two Guys Bow Tie products is worn by NBA stars Mike Conley and SHAQ, as well as a slew of other celebrities.
They’ve expanded their product line to include wood brimmed fedoras, wooden lapel pins, pocket squares, and beard care products since their inception.
You can even “make your own” lapel pins or bow ties.
What happen to Two Guys Bow Tie at the Shark Tank Pitch?
The two men come on Shark Tank season 7 episode 3 looking for $150,000 in exchange for a 10% interest in their company. This indicates a $1.5 million worth.
They immediately suck up to Mr. Wonderful and tell him they wanted to build him something unique in the fashion world.
They provide customers with personalized bow tie samples – Lori’s bow tie features the Chicago skyline, which she enjoys!
They go on to explain that each bow tie costs $7.50 to make and retails for $45 to $95, with 75% of total sales coming from the internet.
Two Guys Bow Ties made $407,000 in sales last year, and they’re on their way to making a million dollars this year. Following a two-and-a-half-year period of operation.
They specialize in bespoke ties and can make up to 1000 ties every week.
The business grew significantly after NBA players like Shaq and Mike Conley marketed the ties.
Troy says he enjoys it, but it isn’t his area of expertise, so he won’t be participating.
Mr. Wonderful considers bow ties to be a good fit for his love platform (the Something Wonderful Platform). He offers $150,000 in exchange for a 15% stake in the company.
Daymond believes that his understanding of licensing and fashion would be a valuable asset to the company, and he is willing to pay $150,000 in exchange for a 20% share.
Mark states that he is not a fashion icon because no hat large enough to fit his brains can be manufactured, so he leaves right away.
Lori likes the ties and says she’ll buy them, but she thinks Daymond and Kevin would make a better couple, so she’s out.
The men question if Troy would come in with Daymond, and Daymond responds that if that happened, he’d have to go to 30%, but they still have to ask Troy. Troy says he’s in if they get to 30% after a little pause.
The boys respond with a 20% royalty plus a 5% royalty until Daymond and Troy’s funds are refunded.
Kevin says he’ll take out a $150,000 loan at 10% interest for 7.5 years until his investment is repaid, and he’ll put it on his Platform of Love.
Daymond offers $150,000 for 20% with a 10% royalty, and the boys counter with $150,000 for 17.5 percent with a 10% royalty, prompting Daymond to exclaim “Contract!” and the guys to agree to a deal for $150,000 for 17.5% with a 10% royalty.
What Happened to Two Guys Bow Tie After the Shark Tank Pitch?
Daymond’s transaction was completed successfully. After the first air date, their revenue more than quadrupled, and they hired more people.
They also manufactured a range of plain cotton ties and fedoras with wood brims.
Plank and Mill, Teague’s second company, was founded in 2016. This company makes peel-and-stick panels out of reclaimed wood.
As of August 2021, both men are still co-owners of the company. They employ over 50 people and generate roughly $3.5 million in annual revenue.
What is the Net Worth of Two Guys Bow Tie?
The two men entered Shark Tank season 7 episode 3 looking for $150,000 in exchange for a 10% ownership in their company. This indicates a $1.5 million worth.
They accepted Daymond’s offer of $150,000 for a 17.5 % ownership plus a 10% royalty, bringing the total valuation to $857,142.85.
Current valuation is evidently higher since the Company has grown.
Who are the Competitors of Two Guys Bow Tie?
Two Guys Bow Tie Competitors include The Tie Bar, Ties Planet, Fossil, and OTAA.
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Two Guys Bow Tie FAQS
What is Two Guys Bow Tie?
Two Guys Bow Tie is a personalized bow tie company from Tulsa, Oklahoma that launched in 2012.
Who are the founders of Two Guys Bow Tie?
Designers Adam Teague and Tim Paslay launched Two Guys Bow Ties.
Does Two Guys Bow Tie Have Any Social Media?
Yes, it has Facebook, Instagram and Twitter accounts.
What is the website of Two Guys Bow Tie?
The website of Two Guys Bow Tie is www.twoguysbowties.com or www.woodenbowties.com
How much was Adam Teague and Tim Paslay seeking in the Shark Tank?
They were seeking $150,000 for 10% of the company.
What happened to Two Guys Bow Tie after appearing on Shark Tank?
Daymond’s transaction was completed successfully. After the first air date, their revenue more than quadrupled, and they hired more people.
They also manufactured a range of plain cotton ties and fedoras with wood brims.
Did Two Guys Bow Tie get a deal on the Shark Tank?
They got a deal on the Shark Tank. They signed an agreement with Daymond John who invested $150,000 for a 17.5 % ownership plus a 10% royalty, bringing the total valuation to $857,142.85.
Is Two Guys Bow Tie still in business?
Yes, Two Guys Bow Ties is still in business. It has over 50 staff and generates roughly $3.5 million in annual revenue.
Do Two Guys Bow Ties ship internationally?
They certainly do! FedEx International is used to transport its items. Bow ties typically take one to two weeks to ship after order placement, depending on the country’s customs procedures.
International shipping is $20, with the exception of Russia, which costs $45. Please keep in mind that certain foreign shipments may be subject to customs or tariffs.
How much do their ties cost?
Two Guys Bow Ties costs $7.50 to create and retails for $45-$95.
