Tones of Melanin Update | Shark Tank Season 14 Episode 22

Tones of Melanin Update | Shark Tank Season 14

In Shark Tank Season 14, entrepreneur Ashley Jones introduced her brand Tones of Melanin, a fashion line designed to highlight the style and culture of Historically Black Colleges and Universities (HBCUs).

Ashley sought an investment of $300,000 for 5% equity in her company, which was filling a void in the market for stylish and representative collegiate wear for HBCU students. Ultimately, she secured a deal with Mark Cuban, who offered $300,000 for 12% equity.

Since the episode aired, Tones of Melanin has continued to expand, with the brand’s products now being sold in major retailers and licensed by numerous HBCUs across the country. Let’s explore how Tones of Melanin has grown since its Shark Tank appearance and what the future holds for this innovative fashion line.

What is Tones of Melanin? How Does it Work?

Tones of Melanin is an HBCU-focused apparel brand that designs and sells stylish clothing specifically for the HBCU community. The brand’s goal is to bring more awareness to the rich history and culture of HBCUs while providing students and alumni with fashionable, comfortable, and high-quality clothing that reflects their unique collegiate experiences.

Some of the brand’s popular items include:

• Reversible jackets
• Sweatshirts
• T-shirts
• Bags
• Hoodies

Each piece of apparel is designed with the distinct culture and pride of HBCUs in mind, and the brand currently holds 33 HBCU licenses. Prices for Tones of Melanin products range from $20 to $100, making them accessible to a wide audience of students and alumni alike.

Tones of Melanin Shark Tank Episode 22 Season 14: What Happened at Shark Tank Pitch?

In Shark Tank Season 14, Episode 22, Ashley Jones pitched her company to the sharks, asking for $300,000 in exchange for 5% equity. She explained the gap in the market for HBCU-specific collegiate wear and highlighted how Tones of Melanin is working to fill that need. The brand had already seen strong success, generating $3.3 million in sales since its founding in 2017.

Ashley’s most popular product, the reversible jacket, cost $30 to produce and retailed for $165, showcasing excellent profit margins. In the last year alone, Tones of Melanin had generated $1.1 million in sales, with 75% of sales coming from e-commerce.

Despite the impressive numbers, Daymond John, Lori Greiner, Barbara Corcoran, and Kevin O’Leary chose not to invest. However, Mark Cuban saw the potential and made an offer of $300,000 for 15% equity. Ashley countered at 12% equity, and Mark agreed, finalizing the deal.

Tones of Melanin Shark Tank Pitch Summary

What Happened to Tones of Melanin After Shark Tank?

Since appearing on Shark Tank, Tones of Melanin has experienced significant growth. The brand’s visibility skyrocketed following the episode, and Ashley Jones has expanded her product offerings, introducing new styles that continue to resonate with the HBCU community. The Shark Tank deal also enabled Ashley to extend her distribution network further.

Tones of Melanin products are now available at major retailers like Dick’s Sporting Goods, Belk, and Fanatics, as well as in 18 HBCU Follett bookstores. The company also continues to sell its products through its e-commerce platform, which accounts for the majority of sales.

In addition to business growth, Ashley remains committed to giving back. The company has donated $50,000 to HBCU education as part of its mission to support the HBCU community.

How Much Is Tones of Melanin Worth?

As of 2024, Tones of Melanin is estimated to be worth $2.5 million. The brand’s steady growth, strong sales numbers, and partnerships with major retailers have contributed to this impressive valuation.

With the backing of Mark Cuban and the continued demand for HBCU-themed apparel, Tones of Melanin is well-positioned for further expansion.

Is Tones of Melanin Still in Business?

Yes, Tones of Melanin is still in business and thriving. The brand has expanded its presence both online and in physical stores, and its collection of HBCU-branded apparel continues to grow. The company’s commitment to quality, style, and representation has resonated with its target audience, allowing Tones of Melanin to become a leading name in HBCU fashion.

Which Episode & Season Number was Tones of Melanin Shark Tank?

Tones of Melanin appeared on Shark Tank Season 14, Episode 22, which aired on May 19, 2023. During her pitch, Ashley Jones secured a deal with Mark Cuban, who invested $300,000 for 12% equity in the company.

FAQs

What is Tones of Melanin?
Tones of Melanin is an HBCU-focused apparel brand that designs clothing and accessories to represent the unique style and culture of Historically Black Colleges and Universities (HBCUs).

Did Tones of Melanin get a deal on Shark Tank?
Yes, Tones of Melanin secured a deal with Mark Cuban for $300,000 in exchange for 12% equity during Shark Tank Season 14, Episode 22.

How much does Tones of Melanin apparel cost?
The price of Tones of Melanin apparel ranges from $20 to $100, with its most popular item, the reversible jacket, retailing for $165.

What is Tones of Melanin’s net worth?
As of 2024, Tones of Melanin’s net worth is estimated to be $2.5 million, following its successful appearance on Shark Tank and subsequent business growth.

Is Tones of Melanin still in business?
Yes, Tones of Melanin is still in business. The brand continues to expand its product offerings and remains committed to its mission of representing and celebrating HBCU culture.

Who is the founder of Tones of Melanin?
Ashley Jones, a graduate of Norfolk State University, is the founder and CEO of Tones of Melanin. She launched the brand in 2017 to fill the gap in HBCU-themed collegiate wear.