Robert Herjavec On Shark Tank
Highlights
- Aaron Ross and Sanya Richards-Ross secured a deal from Robert Herjavec in Shark Tank’s ongoing season.
- The Ross couple’s venture, Coordinates, offers coordinated clothing for families.
- Robert made an offer after raising many concerns and guiding Aaron and Sanya about their branding.
Since Shark Tank’s first season, Robert Herjavec has appeared as a constant panelist. In his long journey on the show, Robert has been loved by viewers for his eye for creative clothing businesses. The latest Shark Tank episode showed a similar Robert Herjavec Shark Tank deal during the Coordinates pitch.
Coordinates made its way to the Shark investors in the seventh episode of the ongoing season. The husband-wife duo of Aaron Ross and Sanya Richards-Ross appeared along with their families in coordinated loungewear.
Describing their vision of helping families create lasting memories, Aaron and Sanya presented their pajamas and other loungewear products to the Sharks. Impressed by the product, Robert Herjavec sealed the deal with the Coordinates entrepreneurs after a bidding fight with a fellow Shark.
Below are complete details of this amazing Robert Herjavec Shark Tank deal.
Coordinates Shark Tank: Pitch Recap
The Olympic champion couple of Aaron Ross and Sanya Richards-Ross entered Shark Tank seeking $100K for 10% equity in Coordinates. They impressed the Shark investors with their history of wins as individual athletes and then presented their Christmas collection and Team USA range (for the Olympics).
Sanya claimed that Coordinates is the ‘exclusive loungewear and pajama partners of team USA through 28.’ Robert thought this was a huge win for the entrepreneurs. However, he was equally confused about what the brand actually stands for.
Robert Herjavec Shark Tank: Final Deal With Coordinates
When it comes to investing in creative clothing businesses, Robert Herjavec tops the Sharks list. His previous investment in the supremely hit Tipsy Elves is an ideal example of the same. However, Coordinates’ lower sales and confusing brand name made Robert a bit apprehensive about investing in it.
Here is a complete explanation of how Coordinates was successful in bagging a Robert Herjavec Shark Tank deal:
During their pitch presentation, Aaron and Sanya shared the backstory of how they used to wear coordinated clothes during their time at the university. This was the time when their motivation for coordinated loungewear for families came through.
After hearing their story, Robert Herjavec reminded the entrepreneurs of his investment in Tipsy Elves, a big pajama company. Claiming that he is making a huge amount of money through that deal, Robert said ‘I love fun stuff.’ Plus, he stated that people buy such stuff.
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The Shark investor then inquired if Coordinates sold its offerings online only. Sanya replied that Coordinates started with their Christmas collection in 2023 and sold only through the online platform.
When inquired further about the business figures, Aaron and Sanya said that the set that they had come wearing on Shark Tank cost $89, and it cost them $27 to make it. Sales for Coordinates in 2023 were $25K only.
Right after this, Robert stressed that the brand name ‘Coordinates’ was quite confusing. To explain better, he brought up Tipsy Elves again and said that although it was ‘just ugly Christmas sweaters,’ the business was ‘fun.’ This is how Robert and Tipsy Elves could take the fun and cool brand into pajamas and ski-wears.
But Robert felt that such clarity was lacking with Coordinates as the brand name could mean countless things. It did not relate to the clothing vertical in any way.
After this, while other Shark investors opted out, Robert was the only one left. But then he put on his glasses and read out some terms labelled on one of their collections. These terms were focus, resilience, courage, and excellence. Robert stated that one of these terms could have been their brand name.
Accepting his suggestion, Aaron and Sanya said that they were open to changes to their branding. After a brief emotional moment, the entrepreneur duo received their offer from Robert for $100K at 25% equity. When the duo countered it with 20% equity, Daymond John said he would do the deal.
However, emphasizing that he has been ‘living this space’ for 16 years, Robert, too, agreed to Coordinates’ counteroffer of $100K for 20% equity. Aaron and Sanya decided to take up the Robert Herjavec Shark Tank deal.
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Conclusion
The Robert Herjavec Shark Tank deal with Coordinates is an ideal example of his passion for fun clothing ventures. Despite being apprehensive about its unclear brand name and low sales, Robert tried to see the potential of Coordinates. This included its ties with Team USA during the Olympics and the family-oriented concept.
On the other hand, Aaron Ross and Sanya Richards-Ross were more drawn towards Robert’s offer due to his previous success with Tipsy Elves, another fun clothing business.
Entrepreneur, auteur, raconteur. Rob Merlino is a blogger and writer who enjoys the Shark Tank TV show and Hot Dogs. A father of five who freelances in a variety of publications, Rob has a stable of websites including Shark Tank Blog, Hot Dog Stories, Rob Merlino.com and more.
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