Baobab, the clothing company known for its innovative stain and fade-resistant polo shirts, has carved out a unique niche in the apparel market since its founding in 2016. Despite not securing a deal on Shark Tank, the company has continued to grow, boasting an estimated net worth of $2 million as of 2024. In this in-depth blog post, we’ll explore Baobab’s history, its Shark Tank appearance, the company’s operations and marketing, and what the future may hold for this up-and-coming brand.
Who is Baobab?
Baobab is a clothing company founded by Brandon Davenport and Marcellus Alexander III, two entrepreneurs from Los Angeles. The duo met in New York and previously found success with their marketing agency, Vesta Mobile Solutions, which they sold in 2010. Seeking their next entrepreneurial venture, Davenport and Alexander focused on the polo shirt market, identifying an opportunity to create a superior product using innovative fabrics and manufacturing techniques.
Who Is The Founder Of Baobab?
Brandon Davenport and Marcellus Alexander III are the co-founders of Baobab. Davenport graduated from Morgan State University with a degree in finance, while Alexander earned a business management degree from Hampton University. Before starting Baobab, Davenport worked as an advertising account executive at CBS, while Alexander held a client service role at Hearst Television.
| Founders | Brandon Davenport, Marcellus Alexander III |
|---|---|
| Company Name | Baobab Clothing, Inc. |
| Founded | 2016 |
| Product | Stain and fade-resistant polo shirts |
| Funding History | Crowdfunding on IndieGoGo and Kickstarter raised over $57,600 |
| Current Valuation | $2 million |
| Current Revenue | Approximately $1 million annually |
| Notable Products | Polo shirts, long sleeve polos, t-shirts, face masks |
| Marketing Strategy | Facebook and Instagram ads |
| Sales Channels | Amazon, BaobabClothing.com |
| Customer Retention | 35% repeat customers, 87% purchase multiple shirts |
How Was The Shark Tank Pitch Baobab?
Baobab appeared on Season 11 of the popular entrepreneurial TV show Shark Tank in 2019. Seeking $150,000 in exchange for a 10% equity stake, Davenport and Alexander pitched their innovative polo shirt brand to the panel of investor “sharks.” While the sharks were impressed with the product’s unique stain and fade-resistant properties, they were turned off by the founders’ valuation of $1.5 million, given the company’s relatively low sales of just $85,000. Ultimately, none of the sharks made an offer, and Baobab left the tank without a deal.
Baobab Shark Tank Update:
Despite not securing an investment in Shark Tank, the exposure from the show proved to be a boon for Baobab. The founders revealed that they made a year’s worth of revenue in just 12 hours following the episode’s airing, as the spike in demand quickly depleted their inventory. However, the COVID-19 pandemic slowed Baobab’s polo shirt production, prompting the company to sell face masks for a period. In 2021, Baobab raised over $100,000 through a crowdfunding campaign on the Republic platform.
| Season | 11 |
|---|---|
| Ask | $150,000 for 10% equity |
| Valuation | $1.5 million |
| Result | No deal |
| Sharks | Mark Cuban, Robert Herjavec, Kevin O’Leary, Daymond John, Lori Greiner |
What Happened To Baobab After Shark Tank?
After their disappointing Shark Tank experience, Baobab has continued to grow and evolve. The company has expanded its product line beyond polo shirts, now offering long-sleeve polos and t-shirts. Baobab has also partnered with the Malagon Group to help drive the brand’s growth. In 2021, co-founder Marcellus Alexander was recognized by Forbes as one of “The Next 1,000” up-and-coming entrepreneurs. Despite some mixed reviews on platforms like Trustpilot, Baobab has managed to maintain solid sales, generating around $1 million in annual revenue.
Baobab Net Worth:
As of 2024, Baobab’s estimated net worth is $2 million. This valuation is based on the company’s consistent revenue growth, successful crowdfunding raise, and ongoing expansion into new product categories. While the Shark Tank’s appearance did not result in an investment deal, it ultimately proved to be a valuable source of publicity and momentum for the brand.
| Shark | Result |
|---|---|
| Mark Cuban | No Offer |
| Robert Herjavec | No Offer (conflict of interest with Buttercloth) |
| Kevin O’Leary | No Offer (cited competition) |
| Daymond John | No Offer (low sales concern) |
| Lori Greiner | No Offer (customer, not investor) |
Baobab Growth and Operations:
Baobab has steadily grown its operations since its founding in 2016. After initially launching through crowdfunding platforms like Indiegogo and Kickstarter, the company began shipping its signature polo shirts to customers in 2017. As demand increased following the Shark Tank appearance, Baobab had to adapt its supply chain and manufacturing processes. The company now sells its products primarily through its e-commerce site, BaobabClothing.com, and on Amazon.
Baobab Marketing and Sales:
Baobab’s marketing strategy has relied heavily on digital channels, particularly Facebook and Instagram advertising. The company also leverages influencer partnerships and targeted retargeting campaigns to reach consumers. This omnichannel approach has proven effective, with 35% of Baobab’s customers making repeat purchases and 87% buying multiple shirts. The brand’s emphasis on quality, innovation, and customer satisfaction has helped drive sales, which reached an estimated $1 million in 2020.
Baobab Social Media Presence:
Baobab maintains an active social media presence, particularly on Instagram and Facebook, where the company shares product updates, customer testimonials, and lifestyle content. The brand’s Instagram account (@baobabclothing) has amassed over 18,000 followers, providing a platform to engage with its target fashion-conscious consumers. Baobab also utilizes its social media channels to promote sales, new product launches, and other brand initiatives.
Baobab Interesting Facts:
- Baobab’s co-founders, Brandon Davenport, and Marcellus Alexander III, previously founded a successful marketing agency called Vesta Mobile Solutions, which they sold in 2010.
- The company’s proprietary “BaoTech” fabrication process is designed to make its polo shirts stain-resistant, wrinkle-resistant, and fade-resistant.
- Baobab’s polo shirts retail for $98 each, with a manufacturing cost of $38 per unit.
- During the COVID-19 pandemic, Baobab began producing and selling face masks to supplement its core polo shirt business.
What’s Next For Baobab?
As Baobab continues to grow, the company is well-positioned to expand its product offering and distribution channels further. The brand may explore collaborations with other fashion and lifestyle brands and consider opening physical retail locations to provide customers with a more immersive brand experience. Additionally, Baobab may seek additional investment or partnerships to fuel its next phase of growth and innovation.
Final Words:
Baobab’s journey from a Shark Tank rejection to a $2 million net worth brand is a testament to the power of perseverance and adaptability in the entrepreneurial world. By leveraging innovative manufacturing techniques, a solid digital marketing strategy, and a commitment to product quality, Davenport and Alexander have built a unique and successful clothing company that continues to resonate with fashion-conscious consumers. As Baobab looks to the future, its growth potential remains promising, with opportunities to expand its product line, distribution channels, and overall market presence.
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