Shark Tank (2009–…): Season 14, Episode 6 - Episode #14.6 - full transcript

Tonight, global business
tycoon Peter Jones returns to the Tank.

I could take this product
and sell it all over the world.

Pour yourself a glass, and
let's get down to business.

We are disrupting
conventional thinking.

Help me create the next
great worldwide brand.

Which one of you wants
to join the Nana King?

Bananas to the moon, baby!

You think you've
got the dream ticket.

The reality is, this
could go out of fashion.

It's not worth $7.5 million.
It's worth $20 million.

It's cool. Mark brought it up.



I wasn't even thinking royalty.

Yes, you were. You're
taking me seriously now.

I've got a feeling that one day

you're going to
regret this moment.

If either one of us
don't do this deal,

our lives are not gonna change.

We're still gonna be rich.

First in the Tank

is a way to be comfortable
and still look professional.

Hi, Sharks.

I'm Justin Baer from
Bethesda, Maryland,

and today I'm seeking $300,000

for 4% of my innovative
apparel company, Collars & Co.

4%?



Sharks, welcome to
Business Casual 101.

Let's begin.

So, you know this look

where you're wearing a
dress shirt under a sweater?

It's pretty much the go-to
look for every single guy

that works in an
office around the world.

I lived in New
York for 12 years.

This is what's called
the Midtown uniform.

Problem is, I hated wearing
a long-sleeve dress shirt

under a sweater.

It was always hot and
uncomfortable and scratchy.

I didn't want to have
to spend the time

buttoning up my
shirt in the morning.

And then sometimes
you'd also get

what's called floppy collar,

where the collar just flops
down halfway through the day.

But worst of all was putting on
a dress shirt under a sweater.

It is so annoying!

The sleeves always
get bunched up.

My sleeve's, like,
right up there by elbow.

Sharks, I knew there
had to be a better way,

which is why I invented
the dress collar polo.

It's a stretchy,
comfortable golf shirt,

except the top has
a firm collar on it,

so it gives you that exact
same look of a dress shirt,

but it's really just
a comfortable polo.

Sharks, guys are
wearing this with a tie,

under a blazer, with a sweater,

and even for just a slightly
more elevated casual look,

with a polo.

Sharks, we are helping guys
look stylish and stay comfortable,

and we've created a
new category of shirt.

Help me create the next
great worldwide brand.

Thank you.

In front of you,

we actually have four
different collar styles.

It's a nice stretchy material.

Yeah, it's stretchy. Seems
lightweight, breathable.

Totally breathable.

Quite an interesting
idea. Did you say 4%?

4%. Yeah.

4%. Okay. Yeah.

So, sales so far.

We started last year.

We've sold so far 92,000
shirts for $5.4 million.

Whoa! Greiner: Whoa!

Whoa. Whoa. Wow.

Direct to consumer or...

All direct to
consumer, all online.

What was your
profit margin on that?

20% net.

Justin, I got to tell you...

Okay. Wow. That's impressive.

Yeah.

So, this is a really,
really well-made product.

Thank you.

But there's two things I hate.

I hate, with all
my heart, this look.

I've always hated
that Midtown look.

It's just not my style.
I really hate that look.

Another thing is, I hate
offers at 4% for $300,000.

I'm out.

That answers
that. - All right.

We've had other shirt
companies on "Shark Tank."

However, of all the
ones in 14 years,

you've had the fastest
growth to $5 million.

I always consider that a hurdle.

Getting to $5 million,
that's a real business. Yeah.

So you must have some
executional skills in this story

that others don't have.

You're right, Kevin. The
secret is in our marketing.

It's in our funnel. We've
mastered the funnel.

I've been doing
this for 20 years.

Doing what for 20 years?

Business, Internet marketing.

I had a business
in one of the first

check-in applications
for events.

Let me jump in.

I mean, while
these are super nice,

I think what you're
doing is fantastic,

I don't think it's the
right investment for me.

So I wish you good luck, and I
will purchase as gifts. Thank you.

But I'm out.

Thank you. Thank you.

Justin, I'm quite shocked,
because I'm in this business.

I own a company
called Localised,

and we basically take big
brands global all over the world...

This type of product,
specifically, across Asia.

Yeah. We're seeing
growth, but we're not seeing it

at the stage that you've
just taken this business to.

What does it cost to make?

Cost to make landed, $15.

We sell it anywhere
from $65 to $75.

Okay. I've never
bid at a shirt deal.

'Cause, "Oh, shirts.
That's a total commodity."

But you have
numbers to justify it.

First time in 14 years I'm gonna
make an offer to a shirt deal.

I look at it and
say, "$300,000, 4%

doesn't even get me
out of bed to put a shirt on

in the first place."

No. I'll do it for 10%.

No way. Kevin...

You're a decisive
dude. That's good.

If this was an old-line
private-equity deal,

old, slow growth, cash flow...

This is one of the
fastest-growing D2C brands

in the country.

We're growing at 28% a month.

When you hit
that wall, though...

It's all the reason
I'm making the offer.

- Do you have other investors?
- Justin. Justin.

I have no other investors. I'm
just the only one. Justin. To make...

Justin. Yeah.

You've completely
dismissed an offer

that I thought was pretty good.

No way. What sort of equity
are you talking about, then?

You came in with
$300,000 for 4%.

You've dismissed
as if Mr. Wonderful

wasn't even in the room.

That's at 10% Well, that's
at $3 million valuation.

This thing, I pushed
it for $7.5 million.

It's not worth $7.5 million.
It's worth $20 million.

Why is it worth $20 million?

Because this thing is...

What is your free
EBITDA? What is it?

20%. We made $1
million over $5 million.

Justin... Justin,
what do you need?

Inventory, marketing, and
we need to build a team.

If we're gonna
go to $50 million,

we need to have some
key players in place. Okay.

So how are you gonna
get the money for inventory?

So are you looking to raise,
are you looking to finance?

We're gonna need a
line of credit also. Okay.

But the other thing that
I'm looking for is a mentor

and somebody to
help me grow this thing

really to the next level.

This is... You know
what? I'll mentor you.

I'll mentor you.
Take the 10% offer.

That was my mentorship.
This could be the next...

The next great brand.

I don't know whether you
know this market as well as I do.

This is beyond brutal.

And the reason why
this is just so brutal

is because fashion shifts and
moves at a literally rapid rate.

And you are up
here at the moment,

and you think you've
got the dream ticket

coming into "Shark Tank."

The reality is, in
six to twelve months,

this could go out of fashion.

Here's the reality,
Peter. I don't know.

I don't think it's
going out of fashion.

Peter... Peter, here's
the reality. But it could.

I don't think so. Here's the
reality. We're going into a recession.

People aren't buying shirts,
and they can't pay their mortgage.

Correct. Right?

Then he starts
bringing in more...

He has a lot of SKUs.
He starts bringing in more.

You know, some
things don't get sold.

He doesn't have a
second door like Burlington

or any place to get rid of this.

And now his inventory
starts to chew into his profits.

And then he realizes,
"Oh, wait a minute.

I don't know as
much as I thought."

Absolutely. And... But, Daymond,
these shirts... These are core styles.

That we'll have for 30 years.
When I got in the business,

Levi's was doing $18 billion.
They're doing $4 billion now.

Everything goes out of style.
Justin... Justin... Justin...

Well... I'm about to
make you an offer.

Listen.

You need to cut out cost.

I have that infrastructure,

and I could take this product
and sell it all over the world.

So I'm gonna make
you an offer. Okay.

But my offer is also
at 10% for $300,000.

You must be kidding.

Justin...
Justin... Honestly.

Why'd you even come in here?
You knew we were gonna do that.

Hold on. Hold on.
Hold on. Hold up. No!

At $3 million valuation?

You're gonna go
from 4% to, what, 5%?

Justin... What do you mean?

Well, why don't you just go down
to 2%? He's out, Justin, so look.

$300,000 is
obviously not enough.

So you already have in mind

where you're going to go
get your additional capital.

I mean, we need...

We need probably a
$700,000 line of credit.

All right. That's easy.

So if I went in with Peter...

So, Peter, so if
you handle global,

domestic, and I don't
mind putting up...

And I'm sure Peter
wouldn't either...

Um, a line of
credit at 8%, 9%...

Whatever the interest
rate should be... 8%, 9%?

Yeah, 'cause rates
are going up. No!

For a line of credit? He's a tough
tough negotiator you are, Justin.

For a line of credit? Mark,
but we have inventory.

We have assets... hard assets.

I know you guys give out
line of credits to apps and stuff.

There's nothing tangible.
You have clothing as inventory.

Even if you got 50%...
Justin, you didn't even flinch

when he said "me
and Peter together,"

which they both have shared
with you huge backgrounds.

Then you make us an offer.

Justin, you make us an offer.

Yeah, 'cause it seems
like we're wasting time here.

No. Everything they
say to you is like, "No!"

So what are you
doing? Well, you're...

You're valuing this and
you're not really seeing the...

You get a chance to...
No, we're seeing that,

and we're seeing that there's
gonna be 10 more people

through the door in another
minute, so what's your offer?

So, Justin, I'll include

the $700,000 line of
credit, but $300,000 cash.

What is the equity
you're willing to offer us?

Two Sharks are out.

Kevin and Peter have
each offered $300,000

for 10% of Justin's shirt
company, Collars & Co.

Mark is willing
to go in with Peter

and has offered an additional
$700,000 line of credit.

But he wants a
bigger chunk of equity

than the 4% Justin
came in offering

and has asked him to
make his best and final offer.

What is the equity
you're willing to offer us?

5%.

Wow.

But look. I think
10% is too much.

I just think 10% is too much.
So when you say that, Justin...

Let me clean something up here,

make your
decision-making easier.

10% is too much? I'm out.

Okay. Yeah. Th... You're val...
You're not valuing... This is...

Justin, I know
the value of this business,

and you've done really
well to get a 10% offer.

So you're saying
it's worth .5...

No. The incremental...
Wait. Wait. If we're gonna do...

First of all, we're gonna
$10 million in sales this year.

You want me to valuate at
.3 sales? The thing is, Justin...

The problem is... Listen.
This is why in a partnership...

Mark knows that's
not gonna work.

No, no, no. But
you've got to have...

You have two ears
for a reason, right?

And I don't think
you're listening.

And that's not good.

That's not a good sign
from an entrepreneur.

No, no. You do have to listen.

I'm listening. You can dismiss
it and you can walk out of here.

That's absolutely fine.

But we should be allowed
to voice our opinion.

And you're not allowing
me to voice mine

'cause you keep talking over me.

No, I hear what you're saying. Which
lets me know that you're not listening.

You have everything right
now in the palm of your hands.

And for 6%... That's all
that we're talking about... 6%.

You have no idea what the
scale of the opportunity is

and what we're going to
add, and the value to that...

You're discounting it.

No, I'm not discounting
what you guys bring,

and that's why I'm here.

But we're gonna do
$10 million in sales.

But what about if we
take it to $200 million?

Justin, but with
the two of them,

you could actually
be doing $80 million.

So you're talking to guys who've
been in the business 30 years.

We see deals like
this all day long.

If either one of us
don't do this deal,

our lives are not gonna change.

We're still gonna be rich.

Justin, you're asking
us to go to work for you.

There is no amount you
could pay to hire the two of us

to mentor you and
help you... him globally.

I couldn't even hire him.

If you're valuing your company
at $20 million and 10%...

And you want me to
give you a discount to 3%?

Justin... Justin, I'm out.

I have a feeling you're
not gonna get a deal. Okay.

I'm out, too, Justin. I think...

Would you do it for 7%? No.

I think we're all out, right?

We're all out.

7%? We're out.

Justin, I hate to say
it, but I've got a feeling

that one day you're going
to regret this moment.

He still has
a chance to say yes.

Here it is.

$300,000 in equity for 10%.

I'll put up a line of
credit of $700,000.

We'll do a market
rate interest, right?

But it's first dollar in,

meaning I get paid the minute
you get paid by your customer.

And you're in it?

And I'm in it.

Yes or no?

Let's do it.

Whoa!

Good job, guys. You lucky...

Wow.

It's gonna be the
best deal you ever did.

Thanks, man. Congrats,
man. I'm proud of you.

You've done an
amazing deal. Thanks.

Uh-huh. Well done
for not walking away.

Thanks.

I knew there was a reason

I didn't like guys
that wore this shirt.

But congratulation...

- No. Congratulations.
- Congrats.

I'm glad you were
able to start listening.

Thank you so much. This
was great. - Good luck.

Whoo!

He reminded me of
me. I'm not gonna lie.

Because when you're young, you
don't know what you don't know.

I did a lot more
talking than listening.

It's gonna be interesting to see
how he works with us, though.

We'll find out. Yeah.

It means a ton that Mark Cuban
and Peter Jones are mentors now.

I mean, having them in my corner

is just going to kind
of free me up to...

To think bigger than I
ever thought before.

And hopefully one day
I'll be sitting next to them

in one of the Shark chairs.

In Season 13,

Sarah Moret made a
deal with Barbara Corcoran

for her clean deodorant
company, Curie.

$300,000 for 10%
and 4% adviser shares.

Let's see what she's up to now.

The night our episode
aired, we sold out completely.

We had a
15,000-person wait list.

Once we restocked, we
sold out again and again.

We partnered with
a new manufacturer.

We also found a new
distribution center.

Now we have two warehouses

that help us get our products
to our customers faster.

So, Sarah, let's get
together with your story.

Barbara has been very
hands-on with the company.

We've done webinars together,
Instagram giveaways, TikToks.

Barbara is just always
there when you need her.

Before going on "Shark Tank,"

Curie was never a
profitable business.

Now we're profitable, and we've
done over $1.6 million in sales.

We worked for over a
year developing our formula.

We've also appeared
on QVC three times.

My first airing, I sold almost
$140,000 in 16 minutes.

We launched a worldwide
partnership with Equinox.

They have over 100 clubs.

Curie's deodorant
spray is available

in every single one of them.

Next year, we're planning
to focus on expanding

our retail presence and
taking over the world.

I believe your growth
is gonna explode.

What makes Sarah
such a great entrepreneur

is she is brave at heart.

You have to remember
that she quit a well-paying job

and started this little business

just on her belief that
she could make a go of it.

It's amazing when you
put your mind to something

what an entrepreneur can do.

Every single step in
my career has been a fight

to get a seat at the table.

I worked in venture capital,

where 9% of venture
capitalists are women.

I knew if I wanted a seat
at that table, I had to take it.

My hope is that my
story inspires others.

For any women out there

questioning if their
idea is good enough,

there's only one
way to find out.

Don't wait for things to
happen. Make it happen.

You have the power to
make your dreams come true.

Next into the Tank

is a better design
of a party staple.

What's up, Sharks?
I'm Tim Loucks.

I'm here today seeking $300,000

in exchange for 10%
equity in my company.

So, drinks on tap are
becoming more popular now

than they've ever been before.

People are absolutely loving
the at-home draft experience.

But the problem is most
kegs and draft systems are big,

expensive, and not portable.

There's no way I'm gonna
take this thing on a boat,

on a golf cart...

Heck, I probably can't
even fit it in the fridge.

There's no way that's happening.

Kegs had problems... until now.

Meet SquareOne, the world's
most efficient mini keg ever.

SquareOne has the
ultimate cool factor.

By providing more
volume in less space,

it lets you bring not just beer,

but your favorite drink on
tap just about anywhere.

Sharks, sitting in front of you
is your very own SquareOne.

I've filled it with
a tasty beverage.

Wah!

Pour yourself a glass, and
let's get down to business.

Wow! All right.

I like you, and I
don't even know you.

So, Peter, Mark, and
Daymond, you guys have beer.

Mr. Wonderful, you have a
vodka nitro espresso martini.

Oh, damn. And,
Lori, yours is a John Daly.

So it's the alcoholic vodka
version of an Arnold Palmer.

Wait. We need to
do a toast. To the...

Chevaliers du Tastevin!

Yay!

What do you think of
that one, Mr. Wonderful?

Pretty good, actually.
This is really good.

So, this is CO2
in this cartridge?

So, yours is the only one that's
actually running on nitrogen.

So, that's a new
product release.

I always thought
that draft beer,

there... there was
something fresher about that.

Sure. But if you're putting
mixed drinks in there,

what's the value in that?

Sure.

So, the value, like in the
home space is, for instance,

like when we go out on the boat
or we're doing things outdoors,

we can batch a whole
gallon of cocktails

that we're gonna take
with us, like margaritas.

Super simple to bring with us.

Then anybody can
serve themselves.

You make this like
a little draft pour

of any kind of drink.

But wine. You
don't do wine in this.

You could
do wine in this, right?

So, we actually have a
wine product in the hopper

that'll run on argon with
a different wine spout.

We're not quite there yet,

but that's kind of our
third product. Got it.

Tell us how the whole...
All the pieces fit together.

So, basically SquareOne,
it's 128 ounces,

so it holds either two growlers'
worth of beer, eight pints.

So that's a 12-pack, almost.

Yep. Just about a 12-pack.

Basically, you would fill it
with your beverage of choice,

whether it's a cocktail or beer,
and then assemble the tap,

and then you pressurize it.

So it runs on CO2
or nitrogen cartridge.

And then it's good
until it's finished.

Tell me how to disassemble it

so I can go put in
another drink. Sure.

Sure. So basically,
everything's threaded.

It's got a pressure-release
valve on this side.

So before you do
any disassembly,

you would pull the pressure.

So right here? Yeah.

But you want to turn
the valve off to the left.

Right. You sure you want
to be doing that, Mark?

Daymond, where are you going?

You're gonna blow your head off.

Turn this thing, pull this out.

There's a little
pressurized thing on there.

Do this. Yep.

Oh!

I was... I was
trying to help you.

I knew that was gonna happen!

You know, you said
it was safe enough,

- so I just figured...
- Oh, wow!

Meanwhile, while he's
blowing himself up, Tim...

Tim, you must
have... We're gonna get...

'Cause obviously $3 million
is quite a big valuation.

You must have good sales so far.

So, we've sold over 4,000 units.

Right now, lifetime sales
are over $1.4 million.

Wow! Okay.

- Over what period of time?
- Last 12 months?

Over a year. Yeah? Wow.

And what have you
made out of that, Tim?

So, we lost about
$250,000 last year.

- Ooh. Um...
- That's okay.

This year, we're on
track to make a 15% net.

Okay. This is gonna be
our first profitable in the month,

and we're on track to do over
200 grand this month in sales.

Damn. Nice.

And how much are they?

Uh, so, that one right
there in front of you

retails for $259.

That's not bad.
And what does it cost?

It costs us $130.

We make them in
Washington state.

Last May, we set up our
own manufacturing facility

where we started adding
and refining our processes

so we could get the costs down
to where we could be profitable.

So, I'm buying these things
as a consumer for my home.

Correct. This is
not for a business.

But it could be, right?

Yes.

So, we focused 100%
direct-to-consumer on this.

Really, the vision was
in the commercial market.

When COVID hit,
we're like, "Okay.

We're spending a lot
of money developing

and creating these
products, but we got to start

bringing some money
back through the door."

And, Tim, how did you
come up with this, then?

What made you
think of this? Sure.

So, I've always
been an idea guy.

Never really took
action on any. Okay.

But it was November 2017.

I woke up in the middle
of the night, like...

And for some crazy
reason I was thinking about

the inefficiencies
of round kegs.

And I'm like,
"Everywhere they're stored,

everywhere they're transported,
everywhere they're refrigerated

are square, rectangular spaces."

I just thought it would be a
huge value... - Okay.

But, Tim, as us...

As all of us being
potential partners,

how often you wake
up at 2:30 in the morning

thinking about a more
efficient way to get hammered?

Never. But I guess I was lucky.

Yeah, right?

Tim, so, it is very, very cool.

But I don't really
comprehend the value of it

because I'm just...
I'm not a tap drinker,

so I'm a little stuck there.

I just... I don't think
I-I get it as much.

Sure. So I'm out.

Thank you.

So, Tim, I have an
important question,

because I'm in
the wine industry.

You know, there's a lot
of delivery systems for...

That actually try and
keep wine from spoiling

after you've had a
little bit of a bottle.

We put argon or
nitrogen gas in it.

Is the one you're
making for wine...

Could I put three bottles
of chardonnay in here

and then would the system
I'm asking if this is a plan...

You're gonna use argon
gas to seal that surface

from any oxygen
hitting it. Correct.

So for the next two weeks,

I could be pulling out
a glass of chardonnay?

Yes, 100%.

Well, that is a cool idea.

Tim, it's cool.

Listen. It did
pique my interest.

Now, I'm a wine drinker, right?

What would be really cool is...

Is if you get that
one figured out,

I hope you'll come back
in the Tank with that.

Sure. You don't
have it right now,

so I think you're
onto something.

I wish you good
luck, but I'm out.

Thanks, Lori.

Tim, I-I can't see

how I could help you turn
this into a great business.

I think it's a really neat
invention, but I just can't...

I can't scale this with you.

So for that reason, I'm out.

Thank you, Peter. Cuban:
Yeah. Tim, I love the product.

I really, really do.
Obviously, I'm clumsy with it.

I'm not good with
mechanics at all.

I see the value for it.

I'll definitely try to buy
some, because I think...

I think you have a hit.

I just don't know
where I would fit with it.

So for those reasons, I'm out.

Thanks, Mark. You're welcome.

Everybody out?
Yep. Yes.

Okay. So, I'm intrigued.

Okay.

When is the wine product coming?

In less than three months.

Why didn't you say that to me?

I-I guess I just didn't say it.

So, I'm really intrigued with
the white wine in the fridge

and the red wine
sitting out on the bar

with the argon or nitrogen gas.

That's a very cool idea.

The industry has been trying
to solve for that for 20 years.

Absolutely.

All right. I'll give
you the 300K.

I want 20%.

I'll tell you why.

I mean, you need someone like
me to help you blow this up online,

because, really, you want
to sell it direct to consumers.

So, what do you think,
Tim? - What do you want to do?

No. I think it's great.

I-I honestly...

I know Mr. Wonderful has
great senses in this space

when it comes to beverage.

Would you consider
doing the $300,000 for 15%

and meet me in the middle?

No.

It... It's a simple product.
I like what you've done.

I mean, other than
Mark blowing himself up.

But, um, it's gonna
be work for me.

I get behind this, we'll
make a lot of money together.

It... It looks beautiful.
It fits in the fridge.

And I'm gonna
take a flier on it.

I want 20%.

Let's do it.

Yeah!

Smart, Tim. Well done.
Good luck.

Smart. It's beautiful.

It's beautiful.
Kevin, thank you.

You did a great job
on this. Thank you.

Congrats, Tim. Congrats.

Congrats, Tim. Thank you, guys.

Well done, Tim. Fantastic.

Thanks, man. We'll blow it up.

Thanks, Kevin.

- I like that deal.
- Kevin... Yeah.

I like that deal, Kev.

I think it's a great deal.

SquareKeg's been my life

on the side from my
day job for five years.

It's been a complete
grind, but it's enabled me

to leave the corporate
handcuffs behind once and for all.

And now that I'm working
with Mr. Wonderful,

I'm super confident we're
gonna take this thing to the moon.

Next up is an adorable solution

to prolong the life
of a favorite snack.

Hey, Sharks. My
name is Sean Adler.

I'm seeking an
investment of $150,000

in exchange for
10% of my company.

We've all been there.

You come home from the
grocery store with fresh bananas,

having every intention
of eating the whole bunch.

But let's be honest
with ourselves.

Some of those
happy yellow bananas

are gonna turn brown,
sad, and end up in the trash.

Yuck.

You see, as bananas
begin to ripen,

they release ethylene gas,

a natural ripening agent
found in fruits and vegetables.

Ethylene gas hates
yellow bananas.

So we have to slow this
absorption at the crown.

And that's where my
company, Nana Hats, comes in...

the world's first
banana-preservation device

specifically designed to be
functional, reduce food waste,

and look super adorable
on your kitchen countertop.

Each of our silicone caps
comes retrofitted with a magnet

that's meant to be
used with any one

of our 12 interchangeable hats.

So, which one of you Sharks
wants to join me, the Nana King,

as I set out to put a hat on all
the bananas across the world?

Is it through the
top you're saying,

that causes the ripening?

So if you cover it,

then the ethylene
gas is not emitted?

No, it's still...
It's still emitted,

but you're basically
slowing the... the spread

of the ethylene gas
to the other bananas.

How long does it extend it for?

So, we make no specific claims
as to how many days we can get,

because each... each...
Every set of bananas is different.

But a ballpark would
be eight to twelve days.

Okay. Well, that's of value.

And is that why when sometimes
I buy bananas from the store,

there's, like, the
green, um, plastic wrap

around the top of
them... 'cause the store

is trying to preserve
it for a little bit longer?

Yes. Exactly. It's the
same methodology.

And, you know... I learn...

I learn new things every day.

What do you sell it for and
what does it cost you to make?

We sell it in
two-packs for $12.99.

The average cost of our hat,

with the standard-size
silicone and the packaging,

um, is $1.95.

So just the... the
little silicone sock

without the magnet would
be significantly cheaper, right?

It's correct.

So why couldn't you put a
little smiley face on the sock

and call it a day
instead of having this?

Yeah. I mean, you don't
want to look at a little sock

on your bananas.

No offense, Kevin.

Sean... Sean, th...

What made you come up with this?

Why Nana Hats?

You know, I got the
idea back in 2016.

I was just coming home
from the grocery store,

just thinking of ways to
keep my bananas fresh.

So I...

You know? I'm
telling you. It's what...

You know, and I went online,
and I saw lots of methods.

Like, everything from
duct tape to tinfoil.

And I had inconsistent results,
and plus all those methods

add to the single-use-plastics
problem in the country, so...

What's your job?
What... You must...

I work now as a wealth manager

for one of the country's
largest investment banks.

Do you? Yeah.

I thought of this in 2016.

I said, "I'm gonna work on
this when I have more time."

You know, basically 2020
came around, the world stopped.

All of a sudden, I had a
lot more time on my hands.

I'm learning to work
from home remotely.

I assembled the
first 15,000 units

and launched the company

all from the comfort of
my living-room couch.

What's happened since?

2021, for the full year,
we did a $483,000.

Oh! Cuban: Hello!

Get out of here.

Bananas to the moon, baby!

You're taking me seriously now.

Okay. Wait, wait,
wait. So that was last year.

What's gonna happen this year?

We're projecting to
do $600,000 this year.

And on the $600,000
we're gonna make $240,000.

Wow. Excellent!

What's the breakdown
of the sales from retail

to direct-to-customer?

Yeah. So 60% of
our business is D2C.

The other 40% is wholesale.

Where are they
putting these in retail?

We have a few mini novelty
gift shops around the country,

but 99% of our wholesale sales

are through one
large online gift retailer.

Have you tried to talk to
any of the grocery chains,

like Kroger or any of them
to see if they were interested?

Yeah. I've hammered
the pavement.

I've been making lots
of calls and e-mails.

And, you know, this is
a brand-new product...

Sean, look.

I'm not gonna invest.
It's just not a fit for me.

But I have to tell you this.

Every single person who
watched this show has at some time

come up with what everybody
told them was a crazy idea.

But you didn't listen,

and you went from what
is obviously an insane idea,

turned it into a product,
sold $600,000 worth,

and you were going to put
$240,000 in your bank account

because you were smart enough
and driven and focused enough

to follow through
with your crazy idea

of putting hats on bananas.

So congratulations. Thank you.

You know? So congrats.

Thank you. Thank
you for saying that.

Sean, um, I just don't think
it's a big enough business

where you need a partner,
though. Before you go out...

You know, let's
first talk about the IP.

We have a pending utility
patent for a sealed cavity

around the crown
of the bananas...

So a banana
-preservation device.

Good for you. Good for you. Are
there a lot of banana-preservation

No. We'll be first.

I get it. Is there a Banana
Preservation Society?

Only in London. If
there is, I'm gonna...

We can join it
together. - All right.

So listen. It's there.

You don't need
a partner for this.

I'm out. Thank you, man.

Sean, have you got
a full-time job still?

I do. So who's
running the business?

You're looking at, uh, the
sole employee of the business.

And you own it 100%? 100%.

My wife helps me a lot,
and I'm a brand-new father...

Congrats... in the
last three weeks.

Aww!

In the banana outfit.

Sean, do you know what?

I've been around for a
long time, and I've seen

some things where we can
laugh and have a bit of fun.

But sometimes
these things go crazy.

I really like this
product, and I also think

it could be one of those
products in the Shark Tank

that could be really successful.

And it's gonna take
quite a lot of work

to make a lot of money.

I'm not gonna make
it easy for you, though,

'cause I'm only gonna
offer you half of the money.

Oh. So you're gonna
have to get another Shark on board.

Two Sharks are out.

Peter is interested in Sean's
banana-preservation product,

Nana Hats,

but he wants to split the
deal with another Shark.

I'm not gonna
make it easy for you, though,

'cause I'm only gonna
offer you half of the money.

Oh. So you're gonna
have to get another Shark on board.

I'd do the other half.

You know, Peter's from the U. K.

I'm U. S. A.

I go in with you,
and then I think

that we would be covering
two continents, right?

- Be globally bananas.
- Right.

Global brand for Nana Hats.

What do you say? A percentage?
What percentage are you asking for?

I would offer you half
of the money for 15%.

And I would take 15%.

Then, we...

Well, there's
another Shark here.

Well, now you're
getting two Sharks.

I smell a royalty deal coming.
You're getting international and national.

Hold on. Hold on. So
you have to give up 30%.

That's very, very,
very aggressive.

And you haven't heard
from the fruit fly yet.

Yeah. No, no. I
would do this deal for 10%.

However... because
Mark brought it up.

I wasn't even thinking
royalty at the beginning.

Yes, you were.

But I'd like a dollar a unit.

Aw, Kevin.
Which actually is not horrible

for 10% versus 30%. Wow!

Wow.

There's another way to go here.

We could throw Lori under the
bus 'cause we don't need her,

and Peter and I
can get together.

Then you get banana loco.
Oh. Peter is a man of honor.

No, no. She slipped
on a banana peel.

No problem.

What you didn't know is
that the Queen awarded him

Commander of the British
Empire. Commander Jones.

And a man who is
Commander of the British Empire

would never throw a
woman under the bus.

Yes, he would! In two
seconds. No, he would not.

Do you want a partner like that? Sean, I'm too
much of a gent to throw Lori under the bus.

A partner that would
throw me under the bus.

Would you like a partner
like that? So the deal...

The deal with Lori and
I is your dream ticket.

Take it. That's right.

No. You're paying
way too much equity.

- You can counter also, Sean.
- Ask him... Ask him

how he's going to, like, pound
the pavement. I'm gonna counter.

Would you consider
15% for $150,000?

What, half? Peter,
would you go to 20%?

I-I would do it for 20%.

20%?

20%, $150,000. $150,000.

The two of us. At
20%, you get both of us.

You guys, you have a deal.

Whoo! You guys are bananas.

God. Wow. You're
really that tall.

He is tall.

I thought I was the
tallest guy in the room.

Thanks for that.

Congrats, Sean. Well done.

You know, they
were laughing at first,

but, you know, once I
hit them with the sales

and, you know, my
vision for the future,

they seemed to be on board.

So I couldn't be happier
to have, you know,

Lori and Peter as partners.

And I really think we're
gonna make Nana Hats

a household name.

Okay, Lori. Walk over here.

Yeah. T...

You are evil and nasty!

Next into the Tank

is a couple seeking to
disrupt a vintage industry.

Hi, Sharks. I'm Whitney Gates.

And I'm Chaz Gates. Together...

We're the United Gates!
We're the United Gates,

reigning from Dallas, Texas.

What?!

And we're seeking $185,000

for an 8% stake in our
emerging wine empire.

Tired of boring wines that
leave you without a buzz?

Crave handcrafted cocktails,

but hate the time and
work they take to make?

What is all this?

Want the convenience
of ready-to-drink options

without all the
fake ingredients?

Artificial flavors?
Artificial colors?

What the... Chaz!
Chaz! Language!

We're on "Shark Tank."

Well, Sharks, do we
have the solution for you.

Drumroll, please.
Drumroll, please.

Introducing Wondry!
Introducing Wondry!

An international, award
-winning collection of wines

infused with
organic fruit extracts

and crafted with a kick.

Of 13.9% alcohol by volume!

Wondry wines blur the lines

between a premium
wine and craft cocktail,

delivering a heightened
alcohol experience

with a juicy, smooth finish.

Most importantly, our wines
are fruit-forward, aromatic,

beautifully balanced,
and absolutely delicious.

Aged in small batches
through our proprietary

fermentation and
infusion process,

our wines are
tastefully crafted for...

any occasion.

Sharks, we reject exclusivity
within the wine industry.

So whether you're a
first-time sipper or a sommelier,

at Wondry, all
winos are welcome.

As a part of the less than
1% of American winemakers

who are Black,

we are disrupting
conventional wine thinking

and reimagining
the wine experience

for those with
nontraditional tastes.

So, Sharks, are you ready
to shatter glass ceilings

by filling glass
bottles with Wondry?

Shall we toast?

To Wondry! To Wondry!

Let's sip different!
Let's sip different!

So, Sharks, in front of
you, as we mentioned,

is our collection of wines.

You have Sangria Especial...

Ooh... which is our
top-selling varietal year-round.

You also have
Cran Apple en Blanc,

which is our top-selling wine
during the holiday season.

It sells like hotcakes.

You also have our
newest introduction,

our Southern Country
Cocktail Cream.

If you're familiar
with cream liqueurs,

this is our unique spin.

You have two signature
Wondry cocktails...

Our Watermelon Rosé with
a simple mixer... lemonade.

That tastes amazing, that
Watermelon Rosé. You like that?

Thank you. Yeah. Ah.
Thank you so much.

I like the apple. Apple good.

Do you like that?
Yeah! Apple good.

Apple good. Yeah!

We feel like our wines
are differentiated,

because if you look at a
semisweet wine of this caliber,

they're generally around
5% to 7% alcohol by volume.

Oh. Okay.
So we are double

that of what you would
see... Big difference.

In an average
semisweet wine of this type.

97% of wine sold in America
is sold for under $14.99 a bottle.

Yes. So I'm hoping

you're gonna tell us
you're under that price point.

So, we're actually slightly
above that price point.

But there's a reason for that.

We use only the
most premium, organic,

and all-natural
ingredients with our wines.

Our price point is
$18.99 suggested retail.

At that price point, are you
doing direct-to-consumer

or are you going through retail?

We're doing both.

We have our
distribution strategy

that we're currently
leveraging in Texas.

So we're currently selling
in two big-box retailers

in the Dallas-Fort Worth region.

Which ones?

Target and Total Wine.

I've tasted this, and I'm
about to get drunk, so...

There we go!

So, what does it
cost to manufacture?

Absolutely.

To manufacture one
bottle of our cocktail wines,

it costs $3.61.

We sell a bottle of our
wines for $13.30 to retailers.

Wow. It's good margin.

And when did you
start the business?

We started the business in
August of 2021. August of last year.

So we're right around 11
months. Just shy of a year.

11 months. And what's
been the sales in 11 months?

In 11 months, we've
done $250,000 in sales.

That's not bad. And what was
your profit on that $250,000?

So, on the $250,000, we
will do $60,000 in profit.

We're at a 32% operating margin.

That's not bad either. How
much have you invested?

$100,000 total,

which we know is a barrier
to entry to a lot of people.

Oh. So it's a big amount.
So we've been fortunate...

through savings

in order to invest
that in the business.

What's your previous history?

Were you winemakers? Were you...

Interestingly enough,
I actually grew up

watching my late paralyzed uncle
making wine out of his garage.

I actually called it
happy juice at the time.

Your uncle was a
bootlegger? Yes!

Basically, yes. He was!

But his wines really
served as catalyst

for community
relaxation and escape

among our friends
and family members.

So I wanted to
re-create those moments

and just continue on this great
legacy that my uncle had set.

I started teaching
myself how to make wine

and then decided to start
taking collegiate courses

at one of the
nation's top programs

for viticulture and enology.

And you really have to have
that knowledge of how to craft wine

and do it in a really kind
of premium way to succeed.

Now, Chaz, what's your story?

In all honesty, when
we were walking out,

it hit me that I'm not
supposed to be here.

My mom raised
me and my siblings.

She had to work
multiple jobs just to ensure

we had a warm meal and a...
And a nice roof over our head.

That led me to go to
college in Arkansas,

at the University of
Arkansas, Pine Bluff.

Shortly after graduation,
I moved to D. C.

I worked as a legislative aide
in Congress during the day.

I went to Johns
Hopkins at night.

I got my master's degree.

I worked for two
congressmen from Arkansas.

I moved to China.

I taught at a university in
China for a couple of years. Wow.

You speak Chinese?

I then went to law school at
American University in D. C.,

became a corporate lawyer,

started to feel the tug to
move back home to Dallas.

And since I moved back,
I've been in-house counsel

for one of the world's largest
semiconductor companies

and tech companies.

So, Chaz, ultimately,

you've underachieved
in your life, then.

Exactly. Yes.

Have you started
to talk to the big box?

The number-one retailer
of wine on Earth is Costco.

Yes. Have you talked to them?

We have not yet
talked to Costco,

but we've had the great luck

of being able to engage
Target and Total Wine

within the first five
months of our business.

How's your
sell-through in Target?

We are the number-two

Black-owned adult-beverage
brand nationwide.

Nationwide.

I don't know
anything about wine.

I've never been a wine person.

Sure. I know you're
gonna do well.

I hope that somebody
else on the panel...

Probably the more... the
one with more expertise here...

Does something with you,
but for that reason, I'm out.

We understand. And
thank you, Daymond.

Listen. First off,
like, so impressive.

Your pedigrees?
Thank you so much.

Wow. But I'm a person
who stays away from sugar.

Sure. Mm-hmm.

And I like to invest in things

that I'm also going
to drink and use.

Sure. Sure.

So I don't see it as a
good investment for me.

So, um, for those
reasons, I'm out.

Sure.

I used to own a wines-direct
business in England,

but I think that
it's not right for me.

And I just want to explain why,

because it's not
a reflection of you.

It was quite a tough journey
for me, even as an investor.

So I'm gonna wish you all the
very best and say that I'm out.

What do you guys need?

We're winemakers, and
so with the investment,

we would invest
that into equipment.

So an automatic bottling
line, which would help us

be more efficient in
the winemaking process.

So you own all
your own equipment,

you do all your own bottling?

All of it. Yes.

We work hard every single day.

We're not sleeping at night.

We have a 9-month-old
son that we're taking care of.

And so this is a lot of time
and effort that we've put in.

But winemaking, yes.

But it's something that
we're passionate about.

It's part of her legacy,
and it's something that...

Guys, look. I love what
you're doing. Yeah. Thank you.

Kevin, are you... are
you able to do something?

Because I know you've
got your own wine.

If I'm going to invest a lot
more time and resources

into a wine business,
it's gonna be my own.

I'm sorry. I'm out.

Okay. So you wanted
$185,000 for 8%?

8%, yes. Yes, sir.

I'll give you $200,000...
It's just an easier number...

For 15%.

That's an incredibly
fair offer, Mark.

Can we ask you for a
little bit more money...

$250,000 for 15%?

$225,000 for 15%.

Mark, you got a deal.
Welcome to our wino family!

Welcome to Wondry.

Yay! Thank you so much!

Gosh. Thank you, Mark. Yay.

You're the best. Thank you
so much. Thank you so much.

Appreciate it. Thank you so much.
You just made our dreams come true.

No. I'm excited, 'cause
you guys are local.

You guys are amazing.

Thank you so much.
Thank you so much.

This means so much.
Yeah. This is gonna be great.

You just made our dream
come true. Congratulations, guys.

Cheers! O'Leary: Cheers.

- Cheers. Thanks!
- Well done, guys.

Whoo! Whoo.

Yeah, baby! Yes. Yes.

Love you. Actually got a deal.

We did it.

Are the doors shut? Oh, my gosh.

Ha! Ha! Ha! Ha! Ha!

Mark Cuban! Let's go! Yes. Whoo!

We are living the
American dream right now.

And to anyone
who's ever doubted,

we can tell you all it takes
is a little sweat equity,

a little commitment
to what you're doing,

and I promise you will get
a return on your investment.

Absolutely. This is
what it's all about.

Thank you, "Shark
Tank." Thank you, Mark.

This is awesome.
A dream come true.

Mark, it's gonna
be a huge winner.

It's gonna be huge.

It'll crush it. It'll crush it.

Good luck to you, Mark.
I'll take it. I'll drink to that.

- Cheers! Two great people.
- Cheers to Mark.

To Wondry.

And to the...

Chevaliers du Tastevin!

Hey!