Ashley Jones appeared during Shark Tank Season 14 Episode 22 and pitched her fashion brand Tones of Melanin.
This fashion brand has redesigned some of the traditional fashion for college kids in minority communities.
Did Tones of Melanin get a deal on Shark Tank?
Or,
What happened to Tones of Melanin after Shark Tank?
Find out all the details in our Tones of Melanin Shark Tank update and pitch recap…
If you’re short on time, here’s a quick overview of what happened to Tones of Melanin after Shark Tank:
Quick Summary
Ashley Jones appeared on Shark Tank Season 14 Episode 22 and made a deal of $300,000 for 12% equity with Mark Cuban.
Initially, Ashley asked for $300,000 for 5% equity but Mark Cuban offered $300,000 for 15% equity. Ashley then countered for $300,000 for 12% equity and Mark accepted the offer.
As for the latest Tones of Melanin Shark Tank update, the company is still in business and got a huge boost in sales after its appearance on the Shark Tank show.
Table of Contents
Tones of Melanin On Shark Tank
| Shark | Result |
| Mark Cuban | Accepted deal of $300,000 for 12% equity |
| Kevin O’Leary | No Offer |
| Daymond John | No Offer |
| Barbara Corcoran | No Offer |
| Lori Greiner | No Offer |
Tones of Melanin Shark Tank Deal
- Business: College fashion brand for minority communities
- Entrepreneur: Ashley Jones
- Asked For: $300,000 for 5% equity
- Shark Tank Deal: $300,000 for 12% equity
- Shark: Mark Cuban
Tones of Melanin Company Info
Tones of Melanin Overview
Tones of Melanin is a unique fashion company that bridges the gap in fashion offerings for college students from minority communities, particularly those attending HBCUs.
The company was created by Ashley Jones, a visionary entrepreneur with a passion for fashion and inclusivity. Tones of Melanin blends streetwear and collegiate wear, creating a distinctive fashion genre that resonates with the needs of underrepresented students.
Ashley’s journey began when she recognized the lack of tailored fashion options for students at HBCUs.
After growing up in a family of entrepreneurs, Ashley was driven to fill this gap with a brand that not only spoke to the cultural richness of these students but also provided them with stylish, functional clothing.
Today, Tones of Melanin holds over 40 HBCU licenses, offering apparel that goes beyond fashion—it serves as a cultural statement and a hub for all things related to the HBCU community.
Tones of Melanin Shark Tank Pitch Recap
In a unique and engaging pitch, Ashley Jones, the founder of Tones of Melanin, enters the Shark Tank stage with a lively, small marching band.
As the band wraps up their performance, the Sharks respond with enthusiastic applause. With the music still ringing in their ears, Ashley steps forward and introduces herself, laying out the vision for her business and seeking $300,000 for a 5% equity stake in her company.
The Mission: Filling a Gap in HBCU Fashion
Ashley quickly explains her mission to the Sharks: Tones of Melanin aims to address a historical gap in the fashion industry, specifically for students at Historically Black Colleges and Universities (HBCUs).
According to Ashley, HBCU students have long been underrepresented when it comes to fashionable, collegiate-style apparel.
Tones of Melanin merges streetwear and collegiate fashion, creating a distinctive new genre that resonates with the HBCU community.
With over 40 HBCU licenses, the company is already making waves in the fashion industry, offering trendy apparel that reflects the culture and pride of HBCU students.
But Ashley notes that her company is more than just a fashion brand—it has become a hub for all things HBCU, serving as a focal point for the community.
Tones of Melanin: Quality and Pricing
The Sharks eagerly examine the samples Ashley presents. Lori is impressed with the quality of the clothing, while the others start to break down the pricing structure of the products.
- Barbara’s jacket costs $28 to produce, retails for $110, and wholesales for $86.
- Mark’s reversible shorts cost $20, wholesale for $48, and retail for $100.
- Reversible jackets cost $38 to produce, with a retail price of $165.
These price points showcase the business’s potential profitability, as each item has a strong markup.
Backstory of Tones of Melanin
Ashley shares her personal story, which adds depth to her pitch. She reveals that she’s been passionate about design since high school and continued to hone her skills while attending college.
During her time at college, Ashley began designing apparel for various entities on campus, and eventually decided to launch her own brand, recognizing a significant need in the HBCU community for fashion that truly spoke to them.
Shark Tank Tones of Melanin Business Growth and Financials
Ashley moves on to present the impressive growth of Tones of Melanin since its founding in 2017.
She shares the following key financial data:
- Lifetime sales: $3.3 million
- Sales in the last 12 months: $1.4 million
- 2022 sales to date: $1.1 million (with 75% of sales coming from retail, and the remaining 25% from eCommerce)
She also highlights recent successes, including a $973,000 purchase order from Follett, a significant distributor. So far, the company has made $300,000 in profits.
Additionally, Ashley mentions that the company’s manufacturer allows them to pay for products after they are delivered, which helps with cash flow management.
Ashley’s Ask During Tones of Melanin Shark Tank Pitch
Ashley is seeking $300,000 for a 5% stake in her business. She explains that she plans to use this funding to set up a third-party logistics company to better manage product fulfillment and ensure that items are retail-ready.
While Lori suggests that Ashley could outsource this need to an existing logistics company, Ashley is firm in her belief that setting up her own logistics operation will give her more control over the process.
In addition, Ashley expresses interest in using part of the investment for marketing. She notes that she has only spent $50,000 on marketing so far, and sees this as an area where additional funds could help expand the business.
Shark Responses and Offers
As Ashley continues to lay out the details of her business, the Sharks begin to weigh in with their thoughts and offer feedback.
Lori Greiner: Out, but Impressed by the Story
Lori is moved by Ashley’s story and the company’s potential, but admits she’s not well-versed in the specifics of this market. Despite her admiration for Ashley’s accomplishments, Lori ultimately decides to pass on the deal.
Lori’s decision: Out.
Barbara Corcoran: Out, Due to Lack of Knowledge
Barbara also expresses her admiration for Ashley’s energy and entrepreneurial spirit, but she doesn’t feel she knows enough about the business or the HBCU market to make an informed investment.
Barbara’s decision: Out.
Kevin O’Leary: Concerned About Inventory Management
Kevin O’Leary, known for his sharp focus on profitability and efficiency, raises concerns about the challenges of managing inventory as the company grows.
He believes that as the business expands, Ashley will face significant inventory challenges that could eat into profits. Since he doesn’t want to be involved in such a business, Kevin decides to bow out.
Kevin’s decision: Out.
Daymond John: Out, but Offers Advice
Daymond John, although intrigued by the business, reveals that he is already involved in competing businesses. He recognizes the fast-growing nature of the HBCU apparel market, but due to his existing commitments, he’s unable to invest in Tones of Melanin.
However, he offers valuable advice, suggesting that Ashley consider having on-campus representatives to help sell the brand and create further visibility for her products.
Daymond’s decision: Out.
Mark Cuban: A Deal at a Higher Equity
After hearing from the other Sharks, Mark Cuban expresses his appreciation for Ashley’s drive and passion. He admires her ability to grow the business to its current state and is intrigued by the potential for future expansion.
Mark offers $300,000 for 15% equity, a deal that is significantly higher than Ashley’s initial ask of 5%.
Ashley, confident in the potential of her brand, counters with 12% equity. Mark quickly agrees, and the deal is finalized at $300,000 for 12% equity.
Mark’s offer: $300,000 for 15%, countered by Ashley’s request for 12%—Deal made at 12%.
What happened to Tones of Melanin following the Shark Tank Show? Keep reading our Tones of Melanin Update to find it out!
Tones of Melanin Shark Tank Update
So, what happened to Tones of Melanin after Shark Tank?
According to the latest Tones of Melanin Shark Tank Update: the company has experienced significant growth, both in terms of revenue and brand recognition after its appearance on Shark Tank.
The Shark Tank exposure led to a sharp increase in online orders, with many customers eager to support a brand that champions inclusivity and cultural pride.
During the rerun of the episode in July 2023, just two months after the original air date, the company saw an even larger spike in orders, as more people tuned in to watch the show.
Ashley’s innovative approach to expanding her company without relying on third-party logistics has kept her company on a steady path of growth.
Although she originally sought the $300,000 investment to set up a third-party logistics company to handle her growing inventory needs, she later decided to pursue a more direct approach, opting to manage operations herself.
This strategy aligns with Ashley’s desire for greater control over her business and its trajectory.
As part of her strategy to continue the company’s expansion, Tones of Melanin began offering custom homecoming clothing for order just ahead of the fall school season.
This seasonal offering reflects the brand’s deep connection to the HBCU community, where homecoming is a major event, and students often seek exclusive, personalized apparel for the occasion.
Did Tones of Melanin Get A Deal On Shark Tank?
Yes, Tones of Melanin Got A Deal On Shark Tank.
While Tones of Melanin impressed the Sharks with Ashley’s inspiring story and the company’s potential, not all of them were willing to invest.
Lori was captivated by Ashley’s accomplishments but wasn’t familiar with the market, so she passed. Barbara also saw Ashley’s passion but didn’t feel equipped to support the business, while Kevin expressed concerns about inventory management as the company scaled and opted out.
Daymond, involved in competing ventures, offered helpful advice but couldn’t invest due to conflicts.
However, Mark Cuban saw great potential in Ashley’s drive and vision. He offered $300,000 for 15% equity in the business, and after a brief negotiation, Ashley countered with 12%. Mark agreed, and the deal was finalized at $300,000 for 12% equity, securing a major investment for Tones of Melanin.
Tones Of Melanin Net Worth
At the time of their Shark Tank appearance, Tones of Melanin was valued at $6 million.
Ashley was seeking a $300,000 investment for 5% equity, which placed the company’s valuation at $6 million. With lifetime sales of $3.3 million and $1.4 million in sales over the past 12 months, the company was on a strong financial footing.
Additionally, their partnership with major retailers like Fanatics, Dick’s Sporting Goods, and multiple HBCU bookstores contributed significantly to their revenue.
Considering the steady growth in sales, including a recent $973,000 purchase order from Follett, Tones of Melanin continues to thrive.
With Mark Cuban’s investment and the company’s increasing visibility, their net worth is likely higher than the original valuation, potentially surpassing $6 million as they expand their HBCU fashion offerings and retail partnerships.
Is Tones Of Melanin Still In Business?
Yes, Tones of Melanin is still in business and continues to thrive.
Since its appearance on Shark Tank, the company has seen significant growth, with an uptick in online orders following the airing of the episode. They are actively preparing for the fall school season and offering custom homecoming clothing, further solidifying their presence in the market.
Ashley Jones, the founder, has remained dedicated to growing the business and expanding its reach within the HBCU community.
Despite the challenges of running a business in a competitive industry, Tones of Melanin has proven its resilience. With major partnerships, including a $973,000 order from Follett and strong relationships with retailers like Dick’s Sporting Goods, the brand is firmly established.
While there is no evidence yet that the deal with Mark Cuban has closed, the company’s continued success and growing visibility show that Tones of Melanin is here to stay.
Tones Of Melanin Reviews
Tones of Melanin has received positive reviews for its unique approach to fashion, combining streetwear with collegiate style to cater to HBCU students.
Customers appreciate the high-quality materials and the vibrant designs that reflect their cultural identity.
Many reviews highlight the brand’s ability to fill a significant gap in the fashion market for historically underserved communities, making it not just a clothing brand, but a symbol of pride for HBCU students.
The company has also been praised for its commitment to supporting HBCUs, with over 40 licenses secured from various schools. While some customers mention that the prices may be on the higher side compared to other fashion brands, the value is often justified by the quality and the unique cultural significance of the products.
Overall, Tones of Melanin continues to build a loyal customer base, and the reviews reflect a growing appreciation for the brand’s mission and vision.
Where To Buy Tones Of Melanin Products?
Tones of Melanin products can be purchased directly from the company’s official website, where they offer a wide range of apparel, including streetwear and collegiate-inspired designs.
The online store features a variety of items such as jackets, hoodies, t-shirts, and accessories, all showcasing the brand’s unique connection to HBCUs. Additionally, the website offers exclusive collections and seasonal releases, making it a great destination for fans of the brand to find the latest styles.
In addition to their online store, Tones of Melanin products are available at select retail locations, including 25 HBCU bookstores, as well as major retailers like Dick’s Sporting Goods and Follett.
These partnerships help expand the brand’s reach, making it accessible to a wider audience of HBCU students and supporters. Fans of the brand can also look out for special pop-up shops and events that may feature exclusive releases or limited-edition merchandise.
The Impact of Tones of Melanin on the Fashion Industry
Tones of Melanin has made a significant impact on the fashion industry, particularly in terms of representation and inclusivity. The brand has become a go-to source for stylish and culturally relevant clothing for students at HBCUs.
By offering products that resonate with the student body’s unique cultural identity, the brand has helped redefine the traditional college apparel market.
Beyond its impressive product line, Tones of Melanin has also become a community hub. It serves as a platform for all things HBCU-related, from fashion to cultural events, empowering students to celebrate their heritage and express their identity through what they wear.
This sense of community-building sets Tones of Melanin apart from other fashion brands targeting college students.
Where Is Tones of Melanin Now?
So, where is Tones of Melanin now, nearly a year after its Shark Tank appearance?
The brand has continued to grow and evolve, with strong sales figures and an expanding customer base. Ashley’s dedication to her company has helped her navigate challenges and take advantage of opportunities within the fast-growing HBCU-licensed product market.
Despite the absence of a finalized deal with Mark Cuban, Ashley remains optimistic and committed to scaling her business in a sustainable way.
Ashley’s entrepreneurial spirit and commitment to her mission have been key drivers of her success.
In a recent interview with Black Enterprise, she shared her vision for expanding her company without relying on third-party partnerships, a move that allows her to maintain control over the brand’s direction.
Ashley’s deep roots in the HBCU community and her passion for creating a business that serves the needs of her people continue to fuel the growth of Tones of Melanin.
Lessons For Entrepreneurs From Tones Of Melanin Shark Tank Journey
The Tones of Melanin Shark Tank journey offers key lessons for entrepreneurs, particularly about understanding market gaps and leveraging personal experiences to build a business.
Ashley Jones identified a significant need within the HBCU community for culturally relevant fashion, and she turned her passion into a successful brand.
Entrepreneurs can learn the importance of focusing on niche markets and creating a product that resonates deeply with a specific audience, as Ashley did with her unique streetwear and collegiate designs for HBCU students.
Another valuable lesson is the importance of negotiating and being flexible. Ashley’s ability to counter Mark Cuban’s initial offer and secure a deal for 12% equity instead of the 15% he proposed shows that negotiations are a vital part of growing a business.
Entrepreneurs should be prepared to defend their valuation and know their worth, but also be open to compromise when opportunities arise.
Ashley’s story also demonstrates the significance of persistence and using every challenge as a learning experience in the entrepreneurial journey.
FAQs On Tones of Melanin Shark Tank Update Today
Who Owns Tones Of Melanin?
Ashley Jones is the owner of Tones of Melanin, a collegiate apparel brand. The company designs clothing specifically for Historically Black Colleges and Universities (HBCUs).
Is Tones Of Melanin Legit?
Yes, Tones of Melanin is legit. It is a Black woman-owned business that holds over 33 HBCU licenses and creates apparel and promotional items to raise awareness for Historically Black Colleges and Universities (HBCUs).
Did Tones Of Melanin Get A Deal On Shark Tank?
Yes, Tones of Melanin secured a deal on Shark Tank. Mark Cuban offered $300,000 for 15% equity, which Ashley Jones countered to 12%, and Mark agreed to the new terms. The deal was finalized with Ashley securing the investment for her growing business.
Is Tones Of Melanin Still In Business?
Yes, Tones of Melanin is still in business. The company continues to grow, with over 40 HBCU licenses and strong sales, including a significant purchase order from Follett. Despite the challenges, the brand is expanding its product offerings and staying active in the market.
What Happened To Tones Of Melanin After Shark Tank?
After appearing on Shark Tank, Tones of Melanin saw a significant increase in online orders and continued to grow its presence in the HBCU community.
Although the deal with Mark Cuban has not yet closed, the company remains focused on expanding its product offerings and preparing for the fall school season.
Ashley Jones is also working to expand without using a third-party logistics company.
Conclusion: Tones of Melanin After Shark Tank
The Tones of Melanin Shark Tank update showcases a brand that has found its niche in the fashion world, offering stylish, inclusive apparel for students at HBCUs.
Since appearing on Shark Tank, the brand has experienced significant growth, thanks to its unique product line, strong cultural ties, and dedicated founder.
While the deal with Mark Cuban remains unclosed, Tones of Melanin’s journey is far from over. With a clear vision, a growing customer base, and a focus on empowering the HBCU community, Tones of Melanin is set to continue making waves in the fashion industry.
If you’re looking for trendy and meaningful clothing that celebrates diversity and cultural heritage, look no further than Tones of Melanin. This innovative brand is not only reshaping the fashion landscape but also empowering a generation of students to express themselves through fashion.
Have you checked out Tones of Melanin’s apparel? What do you think of Ashley’s journey and her impact on the fashion world?
Share your thoughts in the comments below, and don’t forget to follow Tones of Melanin for more updates and exciting new releases!
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