Baobab Clothing is a premium luxurious clothing brand that primarily claims to offer high-end clothing to the consumer. Baobab’s polo shirt is resistant to shrinking, fading, odors and wrinkles. All the clothes from this brand are made from sustainable materials.
This premium clothing brand was founded in 2016 by Marcellus Alexander III and Brandon Davenport. These two close friends started this company because of low quality clothes. They had bought a cloth by paying a higher price but it got spoiled in a short time.
To provide a very good clothing with a premium price, they launched Baobab Polo Shirt. After launching the business, they launched a crowdfunding campaign on Kickstarter for 45 days on May 3, 2017. With this crowdfunding, they raised an amount of $26,483 from 133 backers.
They started a project on the Indiegogo platform, in which they raised a total amount of $31,182. Their two crowdfunding campaigns were successful.
This clothing brand needs funding to survive, So Alexander & Davenport appeared on Shark Tank Season 11 Episode 3 and asked the sharks for $150,000 for 10% equity at $1.5 Million Valuation.
What Is Baobab Clothing?
Baobab Clothing is a premium quality apparel & fashion brand. This brand provides sustainable, performance polo shirts that are resistant to shrinking, fading, odors, wrinkles.
This brand uses “Pima Cotton” to make clothes which mainly comes from Peru. Nanotechnology is used to make products and all products are designed in Harlem, New York City.
Different types of polo shirts and t-shirts are available, apart from this there are also eyewear clean clothes in the shirts. This shirt can be worn for traveling, sports and also during professional work. The cost of this shirt is $98.
|Company Name||Baobab Clothing|
|Founder||Marcellus Alexander III and Brandon Davenport|
|Product||premium luxury polo shirt|
|Asked For||$150K for 10% equity|
|Final Deal||No Deals|
|Episode (Shark Tank USA)||S11 E3|
|Air Date||Oct 13, 2019|
|Business Status||In Business|
|Headquarters||New York, New York City, United States|
|Lifetime Worth (Sales)||$1 Million+|
|Go To Amazon||Buy Now|
|Watch On||Amazon Prime|
Another Shark Tank Pitch
Who Is The Founder Of Baobab Clothing?
The co-founders of the Baobab clothing brand are Marcellus Alexander III and Brandon Davenport. Both of them are doing this business part time.
Marcellus Alexander III
Alexander comes from a business management background having worked in various companies including Travelzoo, Hearst, John Paul and more. In 2018, after leaving his job, he focused on his clothing brand. In May 2021 he has joined Colgate-Palmolive as Remote Selling and Digital Capabilities.
Davenport is a marketing and finance expert by profession. He worked at General Assembly to study finance from Morgan State University.
As the marketing head, he worked in many companies, including PwC, HyperActive Thinking and more. On July 2021, he has joined Shopify as Head of Equitable Commerce.
How Was The Shark Tank Pitch Of Baobab Clothing?
Marcellus Alexander and Brandon Davenport both entered Shark Tank asking the sharks for $150k for 10% equity. They gave a very nice presentation of polo shirts.
This cloths contains 98% “Pima Cotton” and 2% Stretch. The cost of this shirt is $98. Their gross revenue is $85,000. They have invested $35,000 in this business so far. Sell online products by doing social media marketing, especially Facebook ads.
All the sharks were out and this business also did not get investment. Davenport and Alexander were left empty-handed from Shark Tank.
What Happened To Baobab Clothing After Shark Tank?
This clothing brand does not get investment in shark tank Most of the sharks did not fund the company seeing its current performance.
Still The founder did not give up, they have launched a Crowd SAFE campaign on Republic in 2021. As on Apr 16, 2021 they have successfully raised total amount of $103,459 from 292 investors.
In Two Years (2019 – 2020), the growth rate of this company was 800%. By 2022, the annual revenue of this company was around $1 million. As of February 2023, this company is still active but both the co-founders are doing this business part time.
Baobab Clothing Shark Tank Update
Thousands of visitors visited the shop site of this brand simultaneously after this episode aired. There will be 10% of these thousand people who might have bought this product.
We’re following Marcellus Alexander III and Brandon Davenport along with their company for further updates.
What Is The Net Worth of Baobab?
This clothing company asked for a $1.5 million valuation on Shark Tank. However, this company did not get any funding. But this brand was promoted for free on a national show and millions of people came to know about this brand.
In 2022, the market size of Men’s Wear was $33 billion, but only $4.5 billion is the market for polo shirts. Polo shirts industry alone is worth billions and there are many brands in this industry. It is very difficult for a new brand to survive in this industry.
Is Baobab Still In Business?
In the beginning of the business, this brand was focusing only on polo shirts, but now this brand has started making T-shirts. Slowly this brand is entering into other men’s clothing accessories.
The brand has been featured by numerous media publications since Shark Tank, including Yahoo Finance, Heavy, Bleu Magazine.
The current headquarter of this company is in New York, New York City, United States and it employs 2 to 10 people.
Yes, Baobab is still in business as of February 2023.
frequently asked questions
Who are the founder of Baobab?
Baobab was founded in 2016 by two close friends, Marcellus Alexander III and Brandon Davenport.
How much is Baobab worth?
The current worth of the Baobab clothing brand is estimated at $1.5 million.