Evrewares - Shark Tank Update

Sister entrepreneurs Ellie Brown and Becca Nelson appeared on Shark Tank Season 6 seeking $100,000 for 30% equity in Evrewares, valuing their party supplies company at $333,333. The inspiration for Evrewares came from the sisters' desire to create a fun and easy way to transform boring white shirts into personalized party attire, developing reusable fabric stickers that could be applied to clothing for special events, sporting occasions, and celebrations.

The evREwares product line consisted of wearable fabric stickers designed to look like ties, bow ties, and other decorative elements that could be easily applied to shirts and removed after use, allowing people to quickly customize their appearance for themed parties, corporate events, or sports gatherings without permanently altering their clothing. The stickers were marketed as durable and reusable, offering consumers a cost-effective way to create instant costume effects or show team spirit without investing in expensive specialty clothing that might only be worn once.

At the time of their Shark Tank appearance, the sisters had achieved approximately $600,000 in total gross revenue, but they were facing significant challenges with declining sales, projecting a drop from $300,000 in the previous year to substantially less in 2014, while dealing with manufacturing costs of $0.50 per unit and retail prices between $4.99 and $7.99 that the sharks considered excessively expensive for what was essentially a decorative sticker.

During their Shark Tank presentation, Ellie and Becca demonstrated their evREwares products by wearing the shirt stickers themselves and providing personalized samples to each shark, showcasing the ease of application and the visual effect of their wearable decorations.

However, the sharks quickly identified several concerning issues with the business, including declining sales trends, high manufacturing costs relative to the product's perceived value, and what Kevin O'Leary described as "the most expensive sticker on the market," leading Lori Greiner to drop out first due to her previous experience with similar products that lacked consumer demand. As Barbara Corcoran, Kevin O'Leary, and Robert Herjavec also declined to invest due to various concerns about market viability and pricing, Mark Cuban emerged as the only interested shark, making an unusual offer to purchase the entire business for $200,000 at 100% equity rather than the partnership the sisters had originally sought.

After deliberation, Ellie and Becca accepted Mark's offer, effectively selling their entire company rather than just seeking investment capital, but the deal created unexpected complications when it never finalized after filming. Following the show's airing, the sisters found themselves in a difficult position where Mark Cuban apparently did not complete the acquisition as agreed, leaving them without the expected buyout payment and struggling to continue operations independently.

The company was unable to overcome the market challenges and financial difficulties that had made the sharks hesitant to invest in the first place, ultimately going out of business less than two years after their Shark Tank appearance, and our latest research shows the business is not operating anymore.