Brandon Davenport and Marcellus Alexander III started the polo shirt company Baobab. We suspect that these brands’ polo shirts are more complicated than they appear because they were among the infamous Shark Tank investors. Baobab distinguishes itself from so many other apparel companies by making polo shirts with increased sturdiness, softness, and adaptability.
What is BAOBAB?
A polo shirt manufacturer called BAOBAB Clothing was founded in 2017 and focuses on designing and making polo shirts with more flexibility, toughness, and softness.
It uses cutting-edge nanotechnology to stop odors, stains, fading, and wrinkles. The product’s position as the world’s top smart premium polo shirt is perhaps its most significant feature.
Brandon Davenport and Marcellus Alexander founded the business. After serving as a Business Development Manager at Americas, Marcellus Alexander has a wealth of knowledge in digital marketing and consulting.
Net Worth BAOBAB
A $1.5 million valuation of the company was held both before and after the pitch. Since that time, the business has generated $1 million in annual sales revenue, which has increased the company’s net worth.
Who Is the Founder of BAOBAB?
The company was started by Marcellus Alexander and Brandon Davenport. The Baobab tree served as the model for the company name. It’s a tree that may be discovered in both Australia and Africa.
The tree may live for hundreds of years and provides food to those who gather its fruit and water, according to myth. The clothing is designed to endure a lifetime, just like the tree.
While employed in New York City, Brandon and Marcellus made the decision to start their own business. The two IT entrepreneurs were looking for a fresh opportunity after successfully founding and selling a business.
Polo shirts went well with anything, from sweatpants to a sports jacket, so they both liked to wear them. The cheap quality of the polo shirts they were buying bothered them. They just did not last because the colors faded and the collars bent.
Baobab was developed as a result of the two men’s quest to design the perfect polo. They “engineered” their shirts for almost a year. Using nanotechnology, they produced a fabric that is pre-shrunk, antibacterial, colorfast, stain resistant, and stain resistant (you may wear it ten times before washing it).
The secret ingredient is their distinctive stay-flat collar. As an added benefit, a microfiber cloth is sewn inside the inner bottom right of the shirt to be used for cleaning displays on smart devices and spectacles.
The guys successfully gathered $57,645 through their IndieGoGo and Kickstarter campaigns to launch their business in 2017.
Approximately nine months after the end of the commercials, they started shipping goods. The shirts are $88 for a short sleeve and $98 for a long sleeve, and they come in black, blue, white, and grey.
What Happened To BAOBAB At Shark Tank Pitch?
The goal of Brandon Davenport and Marcellus Alexander III in Shark Tank episode 1104, is to discover the perfect fit for Baobab, their ideal polo shirt. In order to advance it, they need a Shark’s help.
In their Shark Tank presentation, Brandon and Marcellus ask for $150,000 in exchange for a 10% ownership in their $1.5 million company.
They give examples and tell their story. Sharks prefer sampling but not large quantities. Their revenues barely reach $83,000.
The first Shark to leave was Robert, who was followed by Kevin. Daymond left as well since he liked the goods but wasn’t satisfied with the sales.
Although Lori also likes the product, she decides it is too early to make an investment, so she leaves. Mark informs the boys that there is only one Shark left and that they were concentrating too much on the other Shark, so he leaves.
All of the Sharks leave as a result of this and the fact that the shirt’s material isn’t proprietary. Finally, the men left the pitch without concluding an agreement.
What Happened to Baobab After Shark Tank?
Despite leaving the pitch without a sale, the company was still in business as of July 2020 and was still conducting business online.
In the midst of the outbreak, they also started making facemasks. In April 2021, they raised $103,459 using the crowdfunding website Republic. As of January 2022, the company was still operating with a $1 million annual revenue.