MTailor, the men’s tailor app was introduced on ABC’s Shark Tank in season 7. The gadget allowed for custom tailored clothes for men that fit perfectly. Even though inventor Miles Penn walked out of the tank without a deal, his business is still going strong. Find out more about the journey below with these five facts.
5 Facts About MTailor
1) Miles went into the tank asking for $2,500,000 for 10%. This put a $25 million valuation on his company, which seemed steep. Usually the sharks don’t go for values that high, unless there’s major evidence that a profit can be turned.
2) When questioned on his numbers, Miles said that there was no one else on the market like he and his company. The technology is different from anything else, and that’s what helps set him apart. The app measures you with your phone, and Miles said it’s more accurate than an actual in-person tailor.
3) The sharks may have questioned him, but consumers seem to like the app. There’s a 4.5 star rating on iTunes, and a 3.5 star rating for Android.
4) As of 2021, according to Shark Tank Blog, the business does about $4.4 million in sales a year. It’s valued at around $15 million.
5) They’ve since expanded to include women too – in one particular area that fit is quite important: jeans. Men still take the cake on the site though: they’ve got suits, custom pants, and shirts. For a business that was only founded in 2014, seems like Miles is doing fine all on his own.
Check out some of our new fabrics! Now available on our app and at https://t.co/uvBA0S2wCv! pic.twitter.com/UUEBovHpDy
— MTailor (@mtailor) February 8, 2017
Shark Tank season 13 premieres on October 8 at 8 PM ET on ABC. In the meantime, catch other episodes on demand or on Hulu.
Related
An Update on Bee Free Honee from Shark Tank
Kymera Body Board from Shark Tank Update
Update on Shark Tank’s Better Life
Pingback: Who Is Emma Grede from Shark Tank- The Reality TV
Pingback: Petnostics Update from Shark Tank - The Reality TV
Comments are closed.