Polo shirts are some of the most versatile pieces of clothing you can add to your wardrobe. That’s why it’s only fitting if they’re resistant to fading and stains. Baobab by Brandon Davenport and Marcellus Alexander III was made exactly like this. It’s an ingenious product that sadly didn’t get a deal on Shark Tank. As of 2023, Baobab is worth $2 million.
The Founders
Brandon Davenport is from Los Angeles, California, and is a finance graduate of Morgan State University. All the way from the west coast, Marcellus Alexander III hails from Los Angeles, California. Alexander has a business management degree from Hampton University.
Marcellus started his career as an advertising account executive at CBS network. Brandon also worked in the background of the entertainment industry as a client service specialist at Hearst Television.
After the two met in New York, they founded the marketing agency Vesta Mobile Solutions. It became a massive success and was acquired by Aegis Mobile in 2010.
Founding Baobab
With the success of their first startup, the entrepreneurs wanted to take on more opportunities in another field. They both loved wearing polo shirts but didn’t find any brand that could satisfy their needs.
So, they created the perfect polo shirt with Baobab Clothing, Inc. in 2016. By using nanotechnology, they developed a shirt that repels stains, wrinkles, odors, fading, and shrinking. Furthermore, it can be worn up to ten times without washing.
In 2017, the founders launched funding campaigns on IndieGoGo and Kickstarter to raise more than $57,600. Nine months later they began shipping the product to customers, and sales started to come in. Before arriving on Shark Tank, the business had made $85,000 in revenue.
Appearing on Shark Tank
Brandon and Marcellus appeared on season 11 of the show, asking for $150,000 in return for 10% equity in their business. The entrepreneurs valued the company at $1.5 million as they predicted they would reach $1 million in the next year.
The Sharks liked the product but the valuation wasn’t realistic. Their chances of closing a deal drifted away when they shared their low sales numbers.
The Sharks were immediately turned off. Robert Herjavec and Kevin O’Leary were the first ones to go out. Daymond John and Lori Greiner expressed their fondness for the brand but still declined to invest. Mark Cuban was interested but the founders didn’t do a good job of answering his questions.
Sales After Shark Tank
Not long after Baobab’s episode aired on television, the pandemic happened. It slowed down the production of polo shirts, but the team pivoted and sold facemasks to make up for the loss in sales. In 2021, the company raised more than $103,459 on the crowdfunding platform Republic.
Baobab is still going strong as they made $700,000 in 2020 and later hit their predicted sales forecast on the show. Their products can be bought through Amazon and their e-commerce website, BaobabClothing.com. Facebook ads are a big part of their strategy to retarget customers and attract repeat orders.
The polo shirt firm has a rating of 2.9 stars on Trustpilot but this is based on only 8 customers. Despite these reviews, Baobab manages to pull in decent sales, earning around $1 million in annual revenue. Currently, Baobab is worth an estimated $2 million.
