Collars and Co. Shark Tank Update – Shark Tank Season 14
Justin Baer unveiled Collars and Co., which revolutionized business casual with stylish, structured-collar polo shirts that wowed Mark Cuban and Peter Jones on Shark Tank.
Justin Baer presented Collars and Co. on Shark Tank Season 14 Episode 6. He founded the company in 2021 as he was frustrated by the discomfort of traditional dress shirts under sweaters and came up with a solution. He created a polo shirt with a firm, dress-style collar.
Baer started the business with a 500-shirt order in 2021. When a TikTok video of him touting the shirts went viral, he was inundated with orders, and the brand took off.
Apparently, he got the idea while working in New York. Customers could wear the shirts with a suit jacket and tie at work, then take off the jacket and tie for after-work casual attire. Would the Sharks like the idea and challenge the norms of a male-dominated industry?
About Collars and Co.
| Category | Details |
|---|---|
| Business Name | Collars and Co. |
| Founder | Justin Baer |
| Industry | Apparel (Men’s Fashion) |
| Product | Polo shirts with dress collars for business and casual wear |
| Funding (Pre-Shark Tank) | Self-funded |
| Investment Asked | $300,000 for 4% equity |
| Deal Status | Deal Secured with Mark Cuban |
| Deal Outcome | $300,000 for 10% equity + $700k line of credit |
| Valuation | $7,500,000 |
Baer was no stranger to entrepreneurship. He had founded six different companies since 2002: MemberText, TextFox, PropertyChat 365, and Textology, which offered niche text marketing solutions for a variety of industries.
He had some challenges as his manufacturers were in Pakistan, and shipping costs were spiraling upward and affecting his bottom line.
The shirts themselves had been very well received by the public. He offered men’s shirts, but he also had plans for a women’s line. They came in a wide variety of patterns, colors, and collar styles. Prices were $69-$74, depending on which style customers picked.
Nick Faldo was a celebrity endorser of the shirts. The company was growing fast, reportedly at 40% per month.
Collars and Co. Shark Tank Pitch
Justin entered the Shark Tank seeking $300,000 for 4% of his company.
Daymond John looked astonished at the valuation and exclaimed, “Four percent?!” Lori Greiner chuckled. He showed a board that said “Business Casual 101” and then unveiled a photo of a man in a sweater with a collared shirt. It was the “go-to” business casual look around the world. In New York, they called it the “midtown look.”
The Sharks examined their samples. He had four collar styles. Lori liked the material; she said it felt stretchy and comfortable.
Peter Jones said it was a very interesting idea, then he questioned the valuation and asked for sales figures. He had started in 2021, and he had sold 92,000 units for $5.4 million, all direct-to-consumer online. The Sharks were impressed. Net profits were 20%.
What Makes Collars and Co. Unique?
Collars and Co. made polo shirts with structured dress collars, offering a comfortable alternative to traditional dress shirts. Here were some features that set them apart:
- Firm collar that held its shape under sweaters and blazers with no more floppy collars or awkward layering.
- Made from lightweight, four-way stretch fabric that offered exceptional breathability and freedom of movement.
- Provided a refined, put-together look without sacrificing comfort.
Did Collars and Co. Get a Deal on Shark Tank?
Yes, Collars and Co. got a deal.
Mr. Wonderful said they had had a lot of shirt companies on Shark Tank, but none of them had reached $5 million so quickly. He considered that a hurdle and thought Justin had execution skills that the others did not have. Justin said the secret was his sales funnel.
Next, Lori Greiner said she thought what he was doing was fantastic, but it wasn’t for her; she was out.
Peter Jones said he was in a similar business and asked about costs. The shirts cost $15 to make, and they sold for $65-$75. Mr. Wonderful said he had never made an offer on a shirt company, but he was going to make one for this company. Four percent didn’t get him out of bed; he offered $300,000 for 10%.
Justin said, “No way,” and told Kevin O’Leary that if it had been a slow-growth VC deal, that would have been one thing.
Peter said Justin had dismissed a pretty good offer, and Justin said “No way” again. Justin said his ask reflected a $7.5 million valuation, but the company was really worth $20 million.
Mark Cuban asked what Justin needed, and he replied, “Inventory, marketing, and we needed to build a team.” He would need those things to reach $50 million, and he might need a line of credit too. He also wanted a mentor. Daymond said, “I’ll mentor you, take the 10% offer.”
Peter said he knew this market and it was brutal; in 6-12 months, this could have gone out of fashion. Justin didn’t believe it.
Daymond John said inventory could start eating into profits and that everything would eventually go out of style. He also added it was a well-made product, but there were two things he hated: the midtown look and the valuation; he was out.
Peter said he had the infrastructure for this type of business in place, and he could sell it all over the world. He offered $300,000 for 10%.
Mark Cuban thought $300,000 wasn’t enough, and Justin said he would probably need a $700,000 line of credit as well. In response, Mark Cuban said he could offer a line of credit at 8 or 9 percent, which Justin laughed at, and Mark said interest rates were going up.
Justin said he had hard assets. Mark said that he and Peter would provide the $300,000 plus the $700,000 line of credit and asked what equity Justin would offer them.
After a break, Justin said he would do that deal for 5%. All the Sharks expressed astonishment and shook their heads. Justin said 10% was too much, and Mr. Wonderful said, “I’m out.” Peter said he knew the value of this business, and Justin had done well in getting a 10% offer.
Justin said he was going to do $10 million in sales in 2022, and Peter was valuing the company too low. Peter expressed his frustration with Justin and thought he was dismissing the value of the Sharks.
Mark said, “If either one of us didn’t do this deal, our lives weren’t going to change; we would still be bleeping rich.” Mark said there was no amount he could pay to have Peter help him. Justin said he didn’t like the $3 million valuation the Sharks were offering, and Peter went out.
Mark went out too, and Justin asked if Mark would do it for 7%, and he said no. Peter said Justin would regret this decision someday.
Mark gave Justin one more chance at accepting the offer of $300,000 and a $700,000 line of credit at a market-rate interest of 10%. Peter said he was in on the deal too, and Justin accepted.
Collars and Co. Shark Tank Update
In the immediate aftermath of the show’s original air date, Collars and Co. had a 300% increase in website traffic and a 100% increase in sales. Mark Cuban told CNBC that Justin reminded him of his younger self. The deal with Mark and Peter closed.
Justin told MR, “Mark and Peter had been awesome. They were in touch and always extremely responsive. I’ve gone back and forth with Mark on email some nights until 1:00 am.”
The company also launched an outerwear collection and introduced brand ambassadors, such as former New York Giant Tiki Barber and golf champion Sir Nick Faldo.
The company planned on doing wholesale in the first or second quarter of 2023, and they opened a pop-up store at Tyson’s Galleria in McLean, Virginia, from November 20 through December 4, 2022.
This business received an update segment in Shark Tank Season 14, Episode 18. In the Collars and Co. Shark Tank update, Justin said that in the 18 months before Shark Tank, he had done $5.4 million in sales.
In the two months since doing the deal with Peter and Mark, he had done $8.5 million in sales. The company introduced a women’s line, which sold out in one week.
Justin was meeting with buyers from Nordstrom, Zappos, and Saks Fifth Avenue. Due to the increased volume, the company went from an 8,000-square-foot warehouse to a 20,000-square-foot warehouse.
Peter gained international business exposure through his localized website. Mark said this would be a $100 million company before long.
Justin announced that he was donating over $50,000 worth of products to Hire Heroes so veterans could look good on the job.
In the summer of 2023, the company opened a brick-and-mortar store in Chicago. A second store followed in October 2023 in Boca Raton, Florida. By April 2024, a third store had opened in King of Prussia, Pennsylvania. Lifetime revenue had surpassed $20 million.
On July 26, 2025, Collars and Co. announced that it had exceeded $100 million in total sales, validating Mark Cuban’s prediction and establishing the brand as one of Shark Tank’s most successful apparel businesses.
Posts about Collars and Co. on Shark Tank Blog
Read more details about Collars and Co – Dress Golf Shirts.
Where Can You Buy It?
The Collars and Co. products are available for purchase directly through their official website. You can also buy them on Amazon. For more details, check out their social media on Facebook and Instagram.
Quick Summary
- Justin Baer presented Collars and Co., polo shirts with dress collars designed for both business and casual attire.
- The company had experienced rapid growth, with $5.4 million in sales in its first 18 months.
- He sought $300,000 for 4% equity and secured a deal with Mark Cuban and Peter Jones for $300,000 plus a $700,000 line of credit at market-rate interest for 10% equity.
Check out other Shark Tank Season 14 Episodes.
Curious about the other businesses that appeared on Shark Tank Season 14 Episode 6? Check out the business updates below.
