Buttercloth, a brand known for its innovative approach to men’s dress shirts, has experienced significant growth since its appearance on the popular TV show Shark Tank. Founded by Danh Tran and Gary Falkenberg, Buttercloth has revolutionized the industry by combining the comfort of a t-shirt with the sophistication of a dress shirt.
After securing an investment from Robert Herjavec on Shark Tank, the company has continued to evolve and expand. This article will explore Buttercloth’s journey post-Shark Tank, discussing its current status, product developments, and the impact of the Shark Tank experience on its success.
What Is Buttercloth?
Buttercloth (a.k.a. ButterCloth), a high-end fashion label, specializes in delivering exceptionally comfortable shirts with a distinctive flair [1]. This renowned brand soared to prominence following its triumphant appearance on the television show Shark Tank.
The hallmark of Buttercloth shirts lies in their superb comfort – meticulously crafted from 100% organic and sustainable cotton, their distinctive production techniques yield a fabric that is remarkably plush and flexible.
These garments are often lauded for their “velvety-smooth” texture, giving rise to the moniker “Buttercloth”. They are meticulously designed to strike the ideal balance between informal and professional attire, rendering them versatile for a multitude of occasions.
How Does Buttercloth Function?
Buttercloth is dedicated to delivering an unparalleled level of comfort and softness, with a focus exclusively on catering to men’s needs.
At the heart of Buttercloth’s mission is the motto, “The World’s Most Comfortable Shirt”, designed to resonate with men who spend long hours at work in their uniforms and desire exceptional comfort throughout the day.
The secret lies in the shirt’s exceptionally cozy fabric, as the company proudly touts. It imparts the sensation of slipping into a well-worn, comfortable t-shirt you’ve cherished for years, yet with a level of delight that compels you to wear it regularly.
Beyond its visual appeal, wearing the shirt is an entirely different experience altogether. The fit is exceptional, enhancing your overall appearance when donning it. Moreover, Buttercloth shirts feature captivating patterns, presenting a diverse array of styles to choose from.
Furthermore, selecting the right size is a breeze, as you can effortlessly find options spanning from the smallest size to XL in slim-fitting garments, ensuring a perfect fit even for those with a larger physique [2].
Buttercloth has swiftly garnered a reputation for excellence and ingenuity, despite its relative newcomer status in the fashion industry. Buttercloth shirts provide an impeccable fit, exceptional durability, and unrivaled comfort, thanks to their innovative six-way stretch material. This brand has truly redefined the concept of everyday wear, marrying comfort and style with finesse.
Pros:
- Quality Material: Buttercloth shirts are made from 100% long fiber cotton, providing them with a silky smooth texture that feels like butter against the skin. This unique fabric gives these shirts a luxurious feel, setting them apart from traditional cotton dress shirts;
- Comfort and Fit: One of the main selling points of Buttercloth is its comfort. The shirts are designed with six-way mechanical stretch, allowing for ease of movement and flexibility. This makes them ideal for individuals who value comfort as much as style in their clothing;
- Variety in Sizes and Designs: Buttercloth offers a variety of sizes and designs to cater to different body types and personal styles. Whether you prefer solid colors, checks, or stripes, there’s likely a Buttercloth shirt that fits your taste;
- Wrinkle-Free: The shirts are wrinkle-free, which means less time spent ironing and more time enjoying the comfort and style of your Buttercloth shirt;
- Impressive Growth: Since its appearance on Shark Tank, Buttercloth has seen significant growth. The company has reportedly made $ 3 million in sales and sold 30,000 shirts, indicating high customer satisfaction and demand for its products;
Cons:
- Price: While the quality and comfort of Buttercloth shirts are undeniable, they come at a higher price point compared to other brands. However, many customers seem to think that the cost is justified given the unique features and quality of the shirts;
- Skepticism about Uniqueness: Some customers have expressed skepticism about the uniqueness of Buttercloth’s offerings, particularly the claim of a 6-way mechanical stretch. While this feature does enhance comfort, it’s not entirely unique to Buttercloth [3];
Who May Benefit from Using Buttercloth?
Buttercloth, a brand that gained fame on Shark Tank, offers unique dress shirts made from 100% long fiber cotton. These shirts are designed to provide the comfort of a t-shirt while maintaining the polished look of a dress shirt.
The primary beneficiaries of Buttercloth shirts are men who prioritize both comfort and style in their wardrobe. This includes professionals who need to dress formally for work but also value the comfort that is often associated with more casual attire.
Individuals with active lifestyles may also benefit from Buttercloth shirts. As they are made with a six-way stretch material, these shirts allow for greater mobility than traditional dress shirts. This makes them an excellent choice for individuals moving a lot throughout the day.
Furthermore, Buttercloth shirts are a great option for those who appreciate sustainable fashion. The use of long-fiber cotton, a natural and sustainable material, contributes to the brand’s eco-friendly ethos.
Notable personalities, such as Metta Sandiford-Artest, have expressed their preference for Buttercloth, highlighting the brand’s appeal to celebrities and public figures [4].
About the Founders Of Buttercloth
Buttercloth, headquartered in sunny California, specializes in crafting formal shirts that boast the comfort level of your most beloved t-shirt. If you’re familiar with the brand, you might recall their captivating presentation on the hit TV show Shark Tank. The brain behind this innovative venture is none other than Danh Tran, a Long Beach designer who comprehends the perennial conundrum of choosing between comfort and sophistication.
The challenge of marrying these two aspects prompted Danh Tran to create The Buttercloth, a collection of dress shirts meticulously crafted from a unique blend of 100% cotton fiber fabric [5].
These shirts are exclusively fashioned from “long fiber cotton”, renowned for their extraordinary six-way stretch capability and breathability. One could aptly describe them as akin to being “cradled in a Caribbean hammock while preparing for a NASA lecture”.
Buttercloth shirts come with a price tag ranging from $ 98 to $ 118, exclusively accessible through the company’s website. Each shirt purchase, including shipping, averages about $ 20 to $ 25 [6].
Impressively, in their initial seven months of operation, Buttercloth has amassed over $ 500,000 in total sales, surpassing the entrepreneur’s estimate that acquiring a single customer would cost approximately $ 40. Remarkably, the brand has relied solely on Facebook and Instagram for its marketing efforts.
Now, the entrepreneur is on the lookout for a $ 250,000 investment, with two-thirds earmarked for procuring goods and the remaining portion allocated to enhancing their in-house marketing strategies. Additionally, he is open to receiving valuable advice on navigating this exciting journey.
The Pitch Of Buttercloth At Shark Tank
Danh and his partner, Gary, strode confidently onto the Shark Tank stage, warmly greeting the panel of Sharks. With genuine enthusiasm, they introduced themselves and their brainchild, ButterCloth. The bold sign behind them proudly proclaimed it as the “World’s Most Comfortable Shirt”. In his distinct deep Southern accent, Gary put forth their request for a $ 250,000 investment in exchange for a 10% stake in their company [7].
Danh took the reins of the presentation, sharing his personal aversion to traditional dress shirts, which he found uncomfortable, thick, and irritating. He passionately expressed his vision of looking sharp while feeling as relaxed as if wearing a cherished t-shirt. To realize this vision, Danh had innovated a new fabric, the essence of ButterCloth.
Gary chimed in, elaborating on ButterCloth’s exceptional fabric, crafted from 100% natural, sustainable, and long-fiber cotton. To lend credibility to their fiber expertise, they introduced Metta World Peace, the renowned basketball player. Metta showcased his skills in a blue button-down business casual shirt, effortlessly dunking a basketball into a hoop at the side of the stage. He confidently claimed that making a basket in a ButterCloth office shirt was just as easy as in his regular uniform, attributing this ease to the breathability and six-way stretch inherent in every shirt.
Gary extended an inviting question to the Sharks, asking who among them wanted to be part of the journey to make the world a softer place by joining the ButterCloth team. Gary painted a vivid picture of how wearing one of their shirts made you look as though you were giving a presentation at NASA while feeling like you were vacationing on the beach. Danh chimed in; emphasizing that anything was possible when clad in ButterCloth. In a playful show of enthusiasm, Metta World Peace lifted Danh by the waist, and Danh confidently made the basket.
Metta encouraged the Sharks to experience the magic of ButterCloth for themselves and began distributing samples. Robert commented on their effective marketing model, and each Shark received a custom-tailored shirt to their liking, tailored to their size and preferences. Kevin, with a hint of humor, pointed out the eclectic group they made, eliciting laughter all around. He then probed into how they had all come together.
Metta began the story, by revealing that he had earned a BA in math during college and had maintained an interest in marketing despite his NBA career. He wanted to endorse a product he truly believed in, and after trying ButterCloth, he was hooked. He marveled at its athletic attributes, enabling him to play basketball and run while appearing business casual, thanks to the sweat-wicking and wrinkle-resistant material.
Gary then shared how he got involved. He explained that he was friends with ButterCloth’s Chief Operating Officer, Bob, who had requested his assistance in helping Danh with marketing and sales. After getting to know Danh, Gary was effusive in his praise, describing him as “an unbelievably remarkable person”.
Danh opened up about his journey, revealing that his parents ran a tailor shop in Vietnam, where he started making clothes at the tender age of ten. His mother had initially tried to steer him away from a career in fashion, deeming it a dismal choice. However, Danh’s determination led him to pursue his dream of coming to America and establishing a career in fashion. It was a daunting choice, as it meant defying his parents’ wishes for him to become a doctor or lawyer.
Ultimately, he decided to apply to a prestigious fashion school, but the hefty $ 120,000 annual tuition was beyond his means. Undeterred, he took a job at Mattel making doll clothes, saving diligently for five years until he could afford to attend fashion school. He earned his bachelor’s degree in fashion and ascended to the position of head designer at Affliction Clothing.
Robert lauded Danh as the real deal, while Charles marveled at the shirt’s quality and shifted the conversation toward the business aspect. He inquired about the cost to consumers, to which they revealed a price range of $ 98 to $ 118, with a production cost of $ 20 to $ 25 per shirt. Gary clarified that this was the landed cost, including shipping, as they exclusively sold the shirts online.
Danh disclosed that ButterCloth had raked in half a million dollars in sales within the seven months leading up to their Shark Tank appearance, achieved solely through online sales and digital marketing via Facebook and Instagram ads through their digital marketing agency.
Kevin inquired about Danh’s personal investment in the company, learning that he had poured an impressive $ 240,000 into the venture, including liquidating his retirement fund, selling his house, and quitting his job to fully commit. While the Sharks appeared impressed, Kevin steered the discussion back to the business aspect, probing into the customer acquisition cost. Gary revealed it was around $ 40, somewhat diminishing the appeal of their estimated $ 75 margin.
Gary outlined their plans for the $ 250,000 investment, with two-thirds designated for additional inventory and the remaining third allocated to enhanced marketing. He expressed their aspiration to eventually bring marketing in-house, seeking the Sharks’ guidance on this front.
Kevin offered several suggestions for reducing customer acquisition costs but emphasized the associated expense. He asserted that ButterCloth would need to address this issue promptly to survive and, with regret, declined to invest.
Mark acknowledged the challenge, noting that ButterCloth’s high customer acquisition cost overshadowed their healthy margin on each shirt. He endorsed increased investment in marketing to bring costs down but expressed his hesitance to get involved, ultimately opting out.
Lori, who had ventured into the clothing business in recent years, cited her ongoing project and declined to invest in ButterCloth, as she believed it wouldn’t be fair to take them on as an investment.
Charles Barkley weighed in, acknowledging the cutthroat nature of the clothing industry and expressing his unwillingness to embrace the stress it entailed, even with the endorsement of his colleague, Metta World Peace. He, too, decided to pass and exited the deal.
With only Robert remaining, Danh appealed to him personally, highlighting his dedication and commitment to the business. After some contemplation, Robert extended an offer of $ 250,000 in exchange for a 25% equity stake in ButterCloth, a higher equity percentage than initially sought by the entrepreneurs.
Danh, Gary, and Metta exchanged glances, pondering the proposition. After a brief pause, Danh countered with a 20% equity stake [8]. Robert considered the offer, reflecting on the effort and resources required to support the business. He decided to meet them in the middle and revised his stake to 25%. Danh, with a nod, accepted the offer, exuding a sense of excitement as Robert made his way to the stage for a congratulatory handshake.
Buttercloth After The Shark Tank
As of 2023, Danh’s innovative spirit remains unquenched. He has continued to expand the ButterCloth product line, introducing a plethora of new offerings to the ButterCloth shop. Among these additions is “Icy Cotton”, a specially engineered fabric designed to keep you cool and comfortable during warm weather [9]. Additionally, the product range now encompasses t-shirts, Henleys, face masks, underwear, jackets, and polo shirts, catering to a diverse array of clothing needs.
In September 2021, the brand unveiled ButterCloth 10.0, a remarkable advancement designed to be up to 10 times softer than Danh’s original groundbreaking invention. This dedication to enhancing comfort underscores ButterCloth’s commitment to its mission.
While there had been plans to venture into brick-and-mortar retail, the disruptive impact of the 2020 pandemic has temporarily shelved those ambitions. As of now, ButterCloth continues to exclusively market and sell its products through its website.
Remarkably, despite this setback, the company continues to thrive, amassing annual revenues nearing the impressive mark of $ 5 million. This enduring success attests to the enduring appeal of ButterCloth’s exceptional comfort and quality.
The Net Worth Of Buttercloth
Buttercloth, the brainchild of entrepreneur Danh Tran, experienced a remarkable surge in success and growth following its appearance on the hit TV show Shark Tank. During Season 10, the brand caught the eye of another immigrant entrepreneur, Robert Herjavec, who made a substantial investment of $ 250,000 in exchange for a 25% ownership stake in the company.
The Shark Tank exposure proved to be a turning point for Buttercloth, catapulting it into the spotlight. In just seven months after the show, the brand achieved an astonishing $ 3 million in sales and sold an impressive 30,000 shirts. This exceptional momentum prompted Buttercloth to diversify its product offerings, expanding into categories such as underwear, socks, polos, and face masks.
Buttercloth’s distinctive selling proposition was its commitment to providing a comfortable alternative to traditional dress shirts. They achieved this by using 100% natural, sustainable, and stretchable materials, setting them apart in the fashion industry. Despite facing the challenges brought on by the COVID-19 pandemic, Buttercloth continued to flourish.
While their plans to venture into physical retail stores faced delays, their robust online presence remained a cornerstone of their success. This online stronghold contributed to their annual revenue approaching the impressive milestone of $ 5 million. Celebrity endorsements from figures like Metta World Peace and Jay Leno further elevated the Buttercloth brand, solidifying its reputation in the market.
Buttercloth’s triumph extended beyond mere sales figures. The company proactively engaged in fundraising efforts, encompassing various methods such as venture capital funding, crowdfunding, and traditional financing avenues. These strategic initiatives, coupled with soaring sales and international expansion, underpinned the brand’s robust financial performance and offered a promising outlook for the future.
By 2022, Buttercloth’s net worth had surged beyond the $ 5 million mark, underscoring its substantial growth trajectory since its pivotal appearance on Shark Tank [10]. The brand’s unwavering commitment to customer satisfaction and its innovative approach to men’s fashion positioned Buttercloth as a rising star in the fashion industry, poised for continued success.
Alternatives To Buttercloth:
- Mizzen + Main. Known for their moisture-wicking and wrinkle-resistant shirts, Mizzen + Main offers a variety of styles that combine performance fabrics with traditional tailoring;
- Bonobos. Bonobos offers a wide range of dress shirts that are praised for their fit and quality. Their selection includes both casual and formal options;
- Outlier. Outlier is known for their innovative use of materials. They offer performance dress shirts that are designed to be breathable, durable, and comfortable;
- Swet Tailor. Swet Tailor aims to make it easier for guys with bigger or more athletic builds to find well-fitting dress shirts. Their shirts are designed to be wrinkle-free and comfortable;
- Proper Cloth. Proper Cloth offers custom dress shirts, allowing customers to choose their preferred fabric, style, and fit. Their wool shirt is noted for its quality and reasonable price;
- Truwear. Truwear’s dress shirts are designed to offer comfort and durability, with features such as moisture-wicking and stain resistance;
FAQ:
- How much is Buttercloth worth now?
As of 2023, Buttercloth is estimated to have a net worth of $ 5 million [11].
- Who owns Buttercloth now?
Buttercloth was founded by Danh Tran and Gary Falkenberg. They continue to own and operate the company.
- Do Buttercloth shirts work?
Buttercloth shirts have been praised for their comfort, style, and quality. They are made from long fiber cotton and offer a six-way stretch, making them both comfortable and flexible.
- Does Buttercloth wrinkle?
Buttercloth shirts are designed to be wrinkle-free, reducing the need for ironing.
- Are wool shirts worth it?
The value of wool shirts depends on individual preferences. Wool shirts are known for their durability, breathability, and ability to regulate temperature. However, they may require more care than shirts made from other materials and can be more expensive.
- Who was on Shark Tank with Buttercloth?
Buttercloth appeared on Shark Tank in 2018. The founders, Danh Tran and Gary Falkenberg pitched their business to the sharks, and Robert Herjavec invested $ 250,000 for a 25% stake in the company.
- Where is Buttercloth based?
Buttercloth is based in Los Angeles, California.
- How real is Shark Tank?
Shark Tank is a reality TV show, and the pitches and negotiations are real. However, deals made on the show are not final and undergo due diligence after filming before they are officially closed.
- How does Buttercloth fit?
Buttercloth shirts are known for their comfortable fit. They offer a six-way stretch, providing flexibility and ease of movement.
- What is the history of Buttercloth?
Buttercloth was founded in 2016 by Danh Tran and Gary Falkenberg. The company gained significant attention after appearing on Shark Tank in 2018, where it secured an investment from Robert Herjavec.
- What is Buttercloth icy cotton?
Buttercloth’s Icy Cotton is a patented technology that integrates the cooling properties of menthol with fabric. This technology enables the fabric to absorb and release moisture quickly, providing a cooling effect.
- Is wrinkle-free fabric safe?
Most wrinkle-free fabrics are treated with chemicals to maintain their smooth appearance. While these chemicals can cause allergic reactions in some people, they are generally considered safe. However, it’s always a good idea to check the specific materials and treatments used in a garment if you have concerns.
- What is Buttercloth made of?
Buttercloth shirts are made from 100% long fiber cotton.
- Who is the poorest Shark Tank?
While all the sharks on Shark Tank are wealthy, in terms of net worth, Barbara Corcoran is considered the least wealthy shark. However, her net worth is still estimated to be in the tens of millions.
- Who is the least successful “shark”?
Success can be measured in different ways, and each shark has had their share of both successful and unsuccessful investments. It’s difficult to declare one shark as the least successful without specific criteria.
- What happened to companies after Shark Tank?
The experiences of companies after appearing on Shark Tank vary greatly. Some, like Buttercloth, have seen significant growth and success following their appearance on the show. Others may not have seen the same level of success, and some deals fall through during the due diligence process after filming.
Useful Video: Buttercloth Wins The “Best Reaction Ever” Award
References:
- https://www.looper.com/1025469/whatever-happened-to-butter-cloth-after-shark-tank/
- https://gazettereview.com/buttercloth-after-shark-tank-update/
- https://www.bstrategyinsights.com/buttercloth-after-shark-tank/
- https://seoaves.com/buttercloth-shark-tank-update/
- https://www.sharktanksuccess.com/butter-cloth-review/
- https://sharktankrecap.com/butter-cloth-update-shark-tank-season-10/
- https://bizzbucket.co/butter-cloth-shark-tank-update/?expand_article=1
- https://sharktanktales.com/buttercloth-shark-tank-update/
- https://www.business2community.com/small-business/shark-tank-deal-butter-cloth-accepts-250000-from-robert-herjavec-02137425
- https://theadultman.com/fashion-and-style/buttercloth-review/
- https://buttercloth.com/
