Let me tell you a story about one of the most exciting and inspiring entrepreneurial journeys to come out of Shark Tank. It’s about Collars & Co., a brand that took a simple yet frustrating wardrobe problem and turned it into a multi-million-dollar business. If you’ve ever struggled with uncomfortable, bulky dress shirts under sweaters or blazers, you’re going to love this story. Let’s dive into how Justin Baer, the founder of Collars & Co., turned his innovative idea into a thriving business with the help of two sharks: Mark Cuban and Peter Jones.
The Problem That Sparked an Idea
Justin Baer wasn’t just any entrepreneur. With over 20 years of experience in marketing, he had a knack for identifying problems that needed solutions. Like many of us, he found himself frustrated with traditional dress shirts—they were uncomfortable, bulky, and just didn’t work well under sweaters or blazers. He thought, There has to be a better way. And that’s when the idea for Collars & Co. was born.
In 2021, Baer launched his brand with a single product: the “Dress Collar Polo.” It was a game-changer. Imagine the comfort of a soft, breathable polo shirt combined with the sharp look of a firm dress collar. It was perfect for business casual settings and offered men an easier way to look polished without sacrificing comfort. The product resonated immediately with consumers who were tired of the same old dress shirt struggles.
The Big Moment: Shark Tank Pitch
Fast forward to Season 14, Episode 6 of Shark Tank. This was Baer’s moment to shine—and boy, did he deliver! Walking into the tank, Justin Baer had one clear goal: secure an investment to scale his rapidly growing business. He asked for $300,000 in exchange for 4% equity in Collars & Co., valuing his company at $7.5 million.
Baer’s pitch was nothing short of captivating. He showcased his Dress Collar Polo and explained how it solved a real problem for men who wanted to look professional without the hassle of traditional dress shirts. He brought samples for the sharks to feel and see for themselves, emphasizing the product’s versatility and comfort.
What really caught everyone’s attention were his sales figures—$5.4 million in just 18 months! That kind of growth is rare for such a young company, and it immediately sparked interest among the sharks.
But it wasn’t all smooth sailing. Some sharks, like Lori Greiner and Daymond John, were skeptical about the valuation Baer placed on his company. They questioned whether the product had staying power in such a competitive market. However, others—Mark Cuban and Peter Jones—saw something special in Baer’s vision and determination.
One memorable moment from the episode was when Mark Cuban said he saw his younger self in Justin Baer: someone persistent, ambitious, and unwilling to back down. It was clear that Baer wasn’t just pitching a product; he was pitching himself as an entrepreneur worth investing in.
The Deal That Changed Everything
After some intense negotiations, Justin Baer walked away with an incredible deal. Mark Cuban and Peter Jones teamed up to offer $300,000 in cash plus a $700,000 line of credit in exchange for 10% equity in Collars & Co. That deal valued the company at $3 million—a significant drop from Baer’s initial valuation but still a win considering what he gained in return.
Cuban and Jones didn’t just bring money to the table; they brought mentorship, global networks, and decades of experience scaling businesses. For Baer, this partnership was about more than just capital—it was about having two powerhouse investors who believed in his vision.
Breaking Down the Numbers
Here’s a quick snapshot of everything you need to know about Collars & Co.’s Shark Tank journey:
| Category | Details |
|---|---|
| Product Name | Collars & Co. |
| Founders | Justin Baer |
| Season & Episode | Season 14, Episode 6 |
| Ask (Investment & Equity) | $300,000 for 4% equity |
| Final Deal | $300,000 + $700,000 line of credit for 10% equity |
| Shark(s) Involved | Mark Cuban, Peter Jones |
| Memorable Episode Moments | Baer’s negotiation persistence; Cuban’s remark about seeing his younger self |
| Current Net Worth | $56.2 million (2024 estimate) |
| Current Business Status | Active |
| Revenue Since Shark Tank | Over $14.2 million (lifetime revenue as of mid-2023) |
| Social Media Presence | Strong TikTok following; significant engagement across platforms |
| Key Achievements | Launched women’s line; opened physical stores in Chicago and Boca Raton |
Life After Shark Tank
Appearing on Shark Tank was just the beginning for Collars & Co. The exposure from the show catapulted the brand into mainstream success almost overnight.
Revenue Explosion
Within days of the episode airing, Collars & Co.’s website saw a 300% increase in traffic. In just one week, they generated between $200,000 and $250,000 in revenue—a testament to how much people loved their product.
Product Expansion
One thing Justin Baer understood early on was that customer demand drives growth. After Shark Tank, he expanded Collars & Co.’s product line to include outerwear and even launched a women’s collection—which sold out within a week! This kind of agility is what sets successful brands apart from their competitors.
Retail Presence
While online sales remained strong, Baer decided to branch out into physical retail stores as well. Today, Collars & Co. has flagship locations in Chicago and Boca Raton, giving customers an opportunity to experience their products in person.
Marketing Mastery
Collars & Co.’s marketing strategy has been nothing short of brilliant. They leveraged TikTok virality to reach younger audiences while also partnering with high-profile athletes like NFL star Tiki Barber and golf champion Nick Faldo to appeal to sports enthusiasts.
Where Are They Now?
As we head into late 2024, Collars & Co. is thriving:
- Annual Revenue: The company is now generating over $9 million annually.
- Market Reach: They’ve expanded their presence both online and offline with stores in major U.S. cities.
- Valuation: The brand is estimated to be worth around $56.2 million—a staggering leap from its original valuation during Shark Tank.
- Active Status: Collars & Co. remains active and continues to innovate within the menswear industry.
Lessons From Collars & Co.’s Success
There’s so much we can learn from Justin Baer’s journey with Collars & Co.:
- Identify Real Problems: The best products solve real problems that people face every day.
- Leverage Marketing Channels: From TikTok virality to celebrity endorsements, smart marketing can make all the difference.
- Be Adaptable: Expanding into new product categories and retail channels allowed Collars & Co. to meet customer demand head-on.
- Choose Investors Wisely: Partnering with Mark Cuban and Peter Jones gave Justin Baer access to resources far beyond just financial capital.
Looking Ahead
So what does the future hold for Collars & Co.? If their track record is any indication, they’re only going up from here. With plans for further product innovation and global expansion on the horizon, this brand is poised to dominate its niche while exploring new opportunities in lifestyle apparel markets.
For me—and I’m sure many others—Collars & Co.’s story is more than just an inspiring tale of entrepreneurial success; it’s proof that solving everyday problems can lead to extraordinary results when paired with passion and persistence.
So next time you’re shopping for business casual wear or thinking about starting your own venture, remember Justin Baer’s journey—and don’t be afraid to dream big!