Rock Bands on Shark Tank
Lees creation quickly got into 4 of the largest retailer's in the Country. This new fashion accessory is getting so popular that even the "Rich and Famous" are wearing
and promoting this product. In fact, the most recognisable face to the Rich and Famous, Mr. Robin Leach comes walking out on stage and starts right into his presentation. Who has been wearing Rockbands? According to Robin Leach the list is very impressive starting with Bono, Johnny Depp, Tommy Lee, Brad Pitt, Angelina Jolie, Lindsey Lohan, Brittney Spears and of course Mr. Leach Himself.
Dahlberg claims to have $300k in sales over the last 5 1/2 years. The entire Shark Tank all go "Oh" at the same time. You open with Robin Leach and then read off a list of celebrities that the World knows, but wheres the beef? Kevin O'Leary asks about sales this year which Lee says "it all depends". Mark Cuban almost looks stunned and quickly sits back in his chair. Then Dahlberg starts explaining a very we'll known Italian Company that want to market in the U.S. under the Rockband Brand License in which he will receive 40%. When asked if that's net or gross sales, Lee seems to try to avoid that question but Daymond John finally gets him to admit its gross sales. Cuban again looks very disappointed.
How much does it cost to make a rock band?They cost $12 to make including the case. Wholesales for $50 per band and retails for $99 to $150. He is currently selling around a dozen Rock Bands a week.
Dahlberg goes on to explain he needs part of the money from the Sharks to fight off patent infringements against his clothing brand which is of course is "Rock Bands". This phrase is covered under several patents including the the popular game title. O'Leary senses a licensing agreement on a larger scale and offers him $100k for 100% of the company and will pay him a 7% royalty fee for everything. Keven 's not interested in the rock bands, he's interested in the Brand that Dahlberg controls with that name. Barbara calls Lee unlucky and in the same sentence says she will go in on O'Leary's deal with him. Daymond says he'll put up $50k if Mark Cuban agrees to put up another $50k for 40% of the company. Two sets of Sharks for two completely ways this business will develop in the future.
DEAL Daymond John and Mark Cuban are proud owners of 40% of the "Brand Rock Bands" for $50k each.
Leather Rock Bands after the Shark Tank Update
I'm a little baffled on this particular deal. You score a deal with the two best Sharks imaginable for the Rock Band Brand and yet 5 months after appearing on the Shark Tank, there has been very little change to speak of. In fact if you look on Lee's Twitter Page (WOW- over 62,000 followers) you almost get the impression he's still a one man show. Did Mark and Daymond end up not making a deal in the Rock Band Business after the show? These guys are known for maximizing all the product's potential they invest in and that does not seem to be the case here.
On the other hand with a Patented Branding Name such as "Rock Star" I could easily see a huge private offer to develop this Brand in another direction. It will be interesting to do another update in another 6 months and see what direction Lee Dahberg has taken the Rock Star Brand.
Order Your RockBand here at Lee Dalhberg's website