Matador Meggings Shark Tank Update - Net Worth, Pitch & Deal - Shark Tank Insights (2024)

Valentino Aseyo, an outfit brand entrepreneur is on Shank Tank Season 15 Episode 2 to rescue men. He had an innovative idea to bring better and more comfortable leggings for men. As a yoga teacher, he failed to find men’s leggings in activewear. Including big brands. So he invented his own.

Valentino has a versatile design and a lot of colors to choose from. An additional compression pad is added to the groin area for the safety of men’s honor. But will Sharks join the leggings brands?

Matador Meggings Net Worth

Valentino asked for a $250k investment in exchange for a 10% equity in his company. That means, he valued his company at $2.5 million at the time of the episode. Although Matador Meggings had great sales but it couldn’t secure a deal on Shark Tank. Based on last year’s sales and expected 10% growth, Matador Meggings current net worth is estimated at around $3.34 million.

What Happened to Matador Meggings After Shark Tank?

After Shark Tank, Matador Meggings experienced a great boost in website traffic, sales and social media exposure. They established their position in the marketplace. The headquarters were established in Miami. It received great reviews. Even featured in the Strategist column.

Moreover, Alex Blynn provided a great review regarding the meggings. He defined the meggings as the “shape-defining silver lining” during his medical setback.

Did Matador Meggings get a deal on Shark Tank?

Unluckily, no. Matador Meggings failed to get any deal from any of the Sharks.

Matador Meggings Shark Tank Update

Founders & Their Backstory

Valentino was born and brought up in Turkey. He came to America as an immigrant. He had a Spanish influence on overall brand aesthetics. He worked for Facebook for 8 years. He was inspired by the men’s leggings idea 8 years ago. While being trained as a yoga teacher, he was in a room with women wearing leggings.

He searches across the market for men’s leggings. Especially to protect their groin area. But he couldn’t find one. So he decided to make one. He made his find prototype using the padding from his sister’s old bra.

Initial Pitch

Valentino begins his pitch with his introduction. He then demanded $250,000 for 10% shares in his company. He begins with Kevin by teasing him regarding leggings. He then introduced his men’s attire wear with modern design. The brand is designed according to men’s anatomy and styled with paddings.

The company has over 50 designs with bold colors. Leggings, shorts, and bike gear are the main collection. These are designed with paddings, as studies show that it helps with blood circulation. Moreover, it has a phone pocket, a zipper pocket, and a shirt loophole on the back. The fabric used is smooth and breathable.

Valentino concluded his pitch and asked Sharks to bring up their queries. A sample of the designs was placed for the Sharks to try and examine the product.

Queries about the Product

Kevin begins with the packaging. Valentino explained that a modesty pad is used to protect the groin area using soft material. They are the only company in the market that provides such protection. Mark asked about his background and his story. After his response to the queries, Daniel inquired if there were no such leggings in the market at all.

Valentino replied that there are active brands that use such padding protection but only for inner wear. Kevin inquired if he is making money. Valentino was glad to reply that he sold $2 million units already. Daymond inquired about the period of this sales number. He said since their launch three years ago. Mark inquired about the sales in the last three years.

He replied that they made $620,000 in revenue. He is predicting $1 million in sales this year. Kevin inquired if the sales are from direct-to-customers. Valentino explained that he is a one-man show. Daniel inquired about the cost and sales. He said it cost $18 to make and sell them at $92. Daniel inquired about the decrease in sales in 2022.

Valentino explained that his strategy was more about customer acquisition in the first two business years. However, now they reduced marketing costs to make more profit. Kevin inquired about their current year’s sales as half of the year is missed. He mentioned that the sales are $20,000 till now. But the ⅔ of the sales will be made at the end of the year.

Shark’s Responses & Final Deal

Kevin was concerned that the product doesn’t have proprietary rights. They can just copy this idea which Valentino appreciated. He will help the more profitable market. However, Kevin stepped out due to his concerns about proprietary rights. Next, Mark stepped out as the functionality of the compression pad was more concerning to the athletes. He isn’t concerned about it being a great business as well.

Lori stepped out too. She didn’t feel confident about the designs that men would prefer to wear. Daymond also stepped out as he thinks it’s not a business in which investment can be made. Daniel was the last one to step out. He observed that Valentino is not his targeted customer.

Unfortunately, Matador Meggings has to leave without a deal.

What Went Wrong with Matador Meggings on Shark Tank

The pitch was amazing and was truly hilarious. Sales were good and the product was reliable. All the Sharks were uninterested in the deal when the proprietary rights and no target customers were highlighted. Especially Kevin was very concerned about it.

Product Availability

There are thousands of designs and styles to choose from. Meggings, shorts, and bike gear are the collections. They might be expensive as they range from $92. Tops are also a new collection to check. You can see the latest collection from their website.

Conclusion

Valentino began his pitch and demanded $250,000 for 10% of the share in his company. He has innovated a sporty wear for men. There is a variety of designs and collections to keep the groin in a protective area. Moreover, the compression padding is good for both medical and aesthetic purposes.

Valentino had good sales and is making out of the business. Despite this, the Sharks stepped out of the deal. No proprietary rights and an unclear target audience made it difficult for the Sharks to put their trust in it. So, Matador Meggings has to leave without a deal.