Beloved Shirts entered the Shark Tank in Season 7 with their novelty apparel which includes everything from a hamburger sweatshirt to an emoji hat. We caught up with owner Jeremiah
Robison who used his Tank experience to re-strategize his business.
Here’s what he told us about…
What’s Happened Since the ‘Tank’
We had a significant spike the month our episode aired in March, but sales have since trickled back down to normal. We really rely mostly on the fourth quarter for the majority of our revenue and I feel that the brand awareness we’ve gained from airing on Shark Tank will cause us to beat last year’s fourth quarter revenue. We’ve since downsized. The feedback from the Sharks caused me to re-strategize in terms of increasing net profit. As you might recall, that was one of the big hang-ups for them in investing. I’ve since cut down significantly on our fixed expenses, while simplifying our store and overall brand focus.
It all started with Katy Perry! She fell in love with our Pizza Belovesie and wore it on tour. Our relationship progressed with her and we even ran an official collaboration last Christmas for her line of holiday-themed Belovesies. It was an amazing experience and I even got to be in her commercial for it which was filmed in her living room. This collaboration sparked a lot of celebrity interest and even Chris Jenner ordered Belovesies for the entire Kardashian family for Christmas morning.
The Sharks’ Assessments
I really appreciated their feedback, especially Lori’s. She had an issue with our “22,000 SKUs” and that has led me to simplify a lot more, and even consider investing in our top 10 bestsellers as actual inventory for the holiday. The majority of our products are sold on a made-to-order basis. In addition to this, we’ve worked very hard with our manufacturer to improve the overall turnaround time. I’m excited to announce that as of now, we are averaging five days for fulfillment of our made-to-order products.
Not Regretting Rejecting Daymond’s Offer
His offer just didn’t seem fair to me. He was basing the valuation entirely on net profit and seemed to be ignoring our large revenues and traction from the get-go. I don’t regret rejecting his offer.
Fun New Offerings
We are all about Pokemon Go lately! You’ll notice a lot of fun Pokemon-inspired designs hitting the shop lately. In addition to this, I’d have to say our Ramen prints! Our good friends Eddie and Dre Wollrabe just released a YouTube video (shown above) of them rapping in our beloved chicken Ramen sweatshirt and joggers. It’s been circulating on reddit and has been gaining some viral traction -almost 80,000 views already!
Plans to Have Users Create Their Own Designs
Beloved has something very exciting in development actually. We are just about to launch the beta version of our artist community platform. Since the early days of Beloved, we’ve received countless requests from our users wanting to submit their own design ideas to our store. We are all about inspiring people to unleash that #belovedstateofmind onto all-over-print apparel and I can’t wait to show everyone how easy it will be to create and even sell on this platform. Beloved will be launching it under the name Sublimation Kitchen and we are now officially taking requests for beta invites to the seller program which will roll out next month.