Did 1920 Clothing get a deal on Shark Tank season 16? Details explored

Shark Tank aired a new episode on Friday, November 8, 2024, and featured another set of entrepreneurs vying to walk away with an investor. In the segment, former U.S. Army Logistics Officer Ashley Sankar and her husband, Zach, appeared. The couple pitched their company, NineteenTwenty, or 1920, a utility-patented convertible fashion brand, hoping to secure an offer from at least one of the sharks.

NineteenTwenty sold jackets and skirts that could transform into a tote, pillow, or bag. They presented their product as a need of the hour for many across the globe. The multifunctionality of their jackets prioritized user convenience and ease.

The couple asked for $250,000 for a 10% stake in their company, valued at $2.5 million. NineteenTwenty's multifunctional convertible clothing fashion impressed investors, earning them offers from Kevin O'Leary and Robert Herjavec. However, after much consideration, 1920 clothing entrepreneurs finalized a deal with Robert.

Ashley and Zach accepted Robert's deal, offering $250,000 for 25% equity in their company.

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Shark Tank season 16: NineteenTwenty aimed to revolutionize clothing

Ashley and Zach appeared on episode 4 of Shark Tank season 16, pitching their company NineteenTwenty or 1920's convertible jackets. They sought $250,000 for a 10% equity. In their presentation, they demonstrated how their jackets could transform into a blanket, a tote bag, and more.

The tote bags could carry anything weighing up to 40 lbs. Besides the puffer jackets, they also sold windbreaker jackets, which could convert its hood into a crossbody bag. Users could fit their jackets inside the bag and make themselves a travel pillow while traveling. The Shark Tank entrepreneurs claimed their products could serve a purpose in the farmer's market, the gym, the laundromat, and more.

"Our convertible clothing adapts to your busy lifestyle instead of you needing to adapt to it," said Ashley.

The business owners faced questions from the Shark Tank investors as soon as they concluded their presentation. Ashley revealed she aimed to revolutionize fashion and introduce the world to more practical clothing. Their innovative designs included jackets of different lengths and sizes, ranging from XS to 5XL. Their windbreakers retailed between $72 and $148, whereas their puffers ranged between $228 and $278.

They also sold skirts, priced at $61. Like the jackets, the skirts were convertibles and could transform into versatile bags.

Ashley and Zach informed the Shark Tank investors that people started to know about their company after one of their videos went viral on social media, garnering over 66 million views. They started their company in December 2022 and did $78,000 in sales. They made $269,000 in 2023, with a lifetime sale of $505,000.

Despite the sales and popularity, the business owners revealed they could not afford more than four launches yearly. When they claimed to have projected sales of $750,000, the Sharks became curious about their profit. However, they were not impressed by the numbers and were convinced there was a miscalculation.

"One of the biggest challenges is fully understanding accounting and managing your cash flow," Mark Cuban said.

The Shark Tank cast member refused to offer NineteenTwenty a deal, citing their inability to understand their finances as his primary reason. Similarly, Daniel Lubetzky backed out, saying the garment industry was too competitive for a new project to find its place.

The Sharks on the panel dismissed Kevin when he questioned Ashley and Zach's commitment to their business, noting they still worked full-time jobs. Despite that, Kevin was impressed by their business model. Hence, he offered them $250,000 and asked for 30% equity.

Robert countered Kevin's deal and offered $250,000 for a 25% stake in their company. NineteenTwenty's owners accepted Robert's offer due to its low equity rate.

"I'd rather have 70%, 72% of something than have a 100% of nothing. We came to make a deal," Ashley said.

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Shark Tank season 16 releases new episodes every Friday at 8 pm ET only on ABC.