Gameday Couture Fan Apparel For Women
DEAL
EPISODE SUMMARY
đź•“ Air Date: December 5, 2014
Asking For:
$500,000 for 20%
Investor:
Mark Cuban
Deal:
$500,000 for 30%
PRODUCT SUMMARY
Gameday Couture provides fashionable alternatives for female sports fans, offering high-quality fabrics at competitive price points for a stylish and comfortable look on game days.
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Background Story
Founded by Shawna and Kurt from Oklahoma, Gameday Couture emerged from a shared passion for sports and a dissatisfaction with the limited options available for female sports fans. Shawna and Kurt, a couple with a deep connection to their local community, observed a stark contrast in their game-day attire. While Kurt could effortlessly find head-to-toe team gear, Shawna was left with unappealing choices—either oversized jerseys or light pink T-shirts that failed to capture the essence of her team spirit. This frustration led to the inception of Gameday Couture, a company dedicated to revolutionizing the fashion landscape for female sports enthusiasts.
The duo recognized a gap in the market and envisioned a brand that seamlessly blended trending fashion with the fervor of sports fandom. Hailing from Oklahoma, a region known for its vibrant sports culture, Shawna and Kurt set out to create a line of clothing that would empower women to showcase their team pride with comfort and style. Their journey began with a determination to provide high-quality fabrics at competitive price points, ensuring that female sports fans could embrace their passion without compromising on fashion. Gameday Couture’s commitment to capturing the spirit of game days and offering a diverse range of options resonated with fans, leading to their initial success in the Southern regions.
However, Shawna and Kurt harbored ambitions to dress fans from all corners of the nation, prompting their pitch on “Shark Tank” to secure the necessary investment for broader expansion. With backgrounds rooted in their local community and a shared vision for transforming the female sports fan market, Shawna and Kurt embarked on a journey that would see Gameday Couture become a beacon for stylish and comfortable sports apparel, catering exclusively to women who sought more than traditional fan attire could offer.
The Product
Gameday Couture offers a diverse range of fashion-forward attire specifically designed for female sports fans, providing a stylish alternative to traditional team merchandise. The product line includes a variety of clothing options that seamlessly blend comfort, trendiness, and team spirit. From comfortable yet fashionable everyday wear to head-to-toe outfits for game days, Gameday Couture’s offerings cater to the diverse preferences of its target demographic.
The products boast high-quality fabrics, ensuring both comfort and durability. With a keen eye on competitive pricing, Gameday Couture positions itself as an affordable choice for fans seeking stylish and officially licensed sports apparel. The average price point stands at $22 wholesale and $44 retail, making the brand an attractive option for budget-conscious consumers.
Accessible to a wide audience, Gameday Couture’s products can be purchased both online and through various retail channels. The company strategically collaborates with retailers and universities, showcasing an alumni cut that combines affordability with fashion.
This approach not only enables fans to express their team allegiance in a trendy manner but also establishes Gameday Couture as a sought-after brand in the female sports fan market. With an emphasis on blending fashion trends with team pride, Gameday Couture’s products serve as a stylish expression of sports fandom for women across the nation.
How It Went
The company’s position before Shark Tank
Gameday Couture has demonstrated robust performance, reflecting substantial growth and a solid market position. In the fiscal year preceding their appearance on Shark Tank, the company achieved sales of $750,000, with an impressive projection of $1.5 million for the current year. This upward trajectory underscores the brand’s appeal and resonates with its target audience, primarily female sports fans seeking fashionable alternatives for expressing their team pride. The company strategically collaborates with a network of partners, including retailers and universities, to expand its market reach.
Currently holding licenses for approximately 37 colleges and universities, Gameday Couture has laid the groundwork for further expansion. While the founders highlighted success in the Southern region, they aspire to dress sports fans from across the nation, showcasing the brand’s potential for broader market penetration. Gameday Couture has positioned itself in the wholesale market with an average price point of $22, attracting retailers seeking a balance between quality and affordability. The retail price of $44 caters to consumers looking for stylish yet reasonably priced sports apparel. The company’s commitment to maintaining competitive pricing contributes to its success in capturing the female sports fan market.
The funding for Gameday Couture has primarily come from reinvesting profits back into the business. This strategic approach has allowed the company to apply additional licenses, seek out new markets, and build a platform for sustained growth. While the founders noted profits of about $100,000 from the current year’s projected $1.5 million in revenue, they emphasized their dedication to reinvesting in the business for further expansion. The company’s current structure revolves around strong relationships with licensing directors and collaborations with retailers and universities.
The Negotiations:
The negotiations on “Shark Tank” for Gameday Couture unfolded with a mix of excitement, skepticism, and unexpected turns. Shawna and Kurt entered the Tank seeking $500,000 for a 20% equity stake in their company. Mark Cuban, known for his strategic investments, made the first offer, proposing $500,000 for a slightly higher equity share of 30%. However, Cuban introduced a twist by withholding a contingency, only to be revealed after the founders accepted his offer. While Damon John expressed skepticism about the company’s valuation and Robert Herjavec bowed out early, Mark Cuban’s unconventional approach intrigued the founders.
The negotiation took an unforeseen turn when Cuban revealed his caveat – a personal design for the Dallas Mavericks, inspired by his wife’s dissatisfaction with the team’s clothing for women. This revelation sparked an immediate deal as Shawna and Kurt eagerly accepted Cuban’s offer of $500,000 for 30%, recognizing the added value of partnering with someone as influential as Cuban. Lori Greiner, known for her expertise in retail and fashion, expressed interest in the product and hinted at unexplored online opportunities.
The negotiation highlighted the importance of strategic partnerships and the unique dynamics of each Shark’s investment preferences. While concerns were raised about the company’s valuation, Mark Cuban’s offer, contingent on addressing a personal need, ultimately secured the deal. The unexpected twist injected a sense of excitement into the negotiation, and Gameday Couture left the Tank with a strategic partnership that could propel them to new heights in the competitive world of sports fashion.
