Collegiate Wear
We independently review everything we recommend. When you buy through our links, we may earn a commission. More information.
Newsletter
Get the latest shark tank product reviews and updates delivered right to your inbox!
Shark Tank Spotlight
You Might Also Like
Tones of Melanin is a distinctive clothing brand that seamlessly blends streetwear, collegiate, and vintage fashion to celebrate the rich heritage of Historically Black Colleges and Universities (HBCUs). Founded by Ashley Jones, an alumna of Norfolk State University, the brand has garnered significant attention, notably appearing on the popular television show “Shark Tank.”
While attending Norfolk State University, Ashley Jones recognized a gap in the market for stylish and representative HBCU apparel. Dissatisfied with the existing offerings, she began designing her own clothing that resonated with the HBCU community’s culture and pride. Leveraging her background in graphic design, creative directing, and marketing, Ashley launched Tones of Melanin in 2017, aiming to create high-quality, affordable apparel that authentically represented HBCU students and alumni.
Tones of Melanin offers a diverse range of apparel, including windbreakers, hoodies, hats, and more, each piece reflecting the unique spirit of HBCUs. The brand holds licensing agreements with over 40 HBCUs, allowing them to produce officially licensed merchandise that resonates with the community they serve. Their products are available through various channels, including Fanatics, Belk department stores, Dick’s Sporting Goods, and numerous HBCU bookstores.
In a memorable episode of “Shark Tank,” Ashley Jones sought an investment of $300,000 in exchange for 5% equity in Tones of Melanin. Her pitch highlighted the brand’s impressive achievements, including lifetime sales of $3.3 million and a recent purchase order of $973,000 from Follett. The Sharks were impressed by her drive and the brand’s growth, leading to a deal with Mark Cuban, who offered $300,000 for 15% equity, which Ashley accepted after negotiating down to 12%.
Season and Episode |
Season 14, Episode 22 |
Air Date |
May 19, 2023 |
Entrepreneurs |
Ashley Jones |
Product |
The brand offers a range of apparel, including jackets, hoodies, and hats, combining streetwear and collegiate fashion to represent HBCU culture. |
Investment Sought |
$300,000 |
Equity Offered |
5% |
Valuation |
$6 million |
Initial Sales |
Achieved lifetime sales of $3.3 million, with $1.4 million in sales over the past 12 months. |
Retail Plans |
Secured licensing agreements with over 40 HBCUs and had products available in major retailers such as Fanatics, Belk department stores, Dick’s Sporting Goods, and 18 HBCU bookstores. Notably, just two days before the pitch, the company received a purchase order for $973,000 from Follett. |
Shark Reactions |
Sharks were impressed by Ashley’s drive and the brand’s accomplishments. Lori Greiner and Barbara Corcoran admired her achievements but felt they lacked expertise in the collegiate fashion market and opted out. |
Bidding War |
Mark Cuban offered $300,000 for 15% equity. |
Final Deal |
After negotiation, Mark Cuban and Ashley agreed on $300,000 for 12% equity. |
*After the filming of a Shark Tank episode, investments are subject to thorough audits and evaluations. During this time period, the terms of the investment can be altered or canceled by either party. As a result, the deals presented on the show may not always come to fruition for various reasons. This site does not guarantee the accuracy of any final investment figures.
Following the “Shark Tank” appearance, Tones of Melanin experienced a significant surge in demand. The brand continues to expand its reach, offering custom homecoming clothing and preparing for the upcoming school seasons. Ashley remains committed to growing the company without relying on third-party logistics, focusing on maintaining the brand’s authenticity and direct connection with its customer base.
Beyond fashion, Tones of Melanin positions itself as a hub for all things HBCU, aiming to bring awareness and support to these historic institutions. To date, the company has donated over $50,000 to HBCU causes, reflecting its commitment to giving back to the community. Looking ahead, Ashley plans to continue expanding the brand’s offerings and reach, ensuring that Tones of Melanin remains a staple in HBCU culture and fashion.
Check out out the new update on Tones of Melanin Shark Tank Update.
