'Shark Tank': Ade+Ayo bags $200K deal, fans call out Daymond John for not making offer
With people of different nationalities living all across the world, it is not always easy to keep in touch with one's roots. But for African parents who want their children to grow to understand and appreciate African aesthetics, design and culture, then apparel brand Ade+Ayo certainly has your back. Made from vibrant textiles, Ade+Ayo creates comfortable clothing while teaching kids about African traditions.
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Abisola Adedokun and Temidayo Adedokun of Ade+Ayo came on the show looking for $175k for 10% equity. With a $1.7 million valuation, the brand has made around $160K in sales. The clothing costs $6 to make and retails for $19, seeing that affordability is essential to the brand. The Adedokuns explained that they needed the money to put back into inventory and hire more people, seeing that it was a 2-person operation. Kevin and Mark backed out immediately, noting that they would add little to no value, as apparel wasn't their domain.
However, fans found it interesting that Kevin claimed apparel wasn't his thing, but was the first and only shark to make Behave Bras an offer. "Kevin O'Leary told a couple who created a kids' clothing line that "clothing is not my thing." But on the prior segment he invested in a bra company. What's his thing, boobs? @ABCSharkTank" joked a fan. "@kevinolearytv How can you say you don't invest in clothing start-ups when you just made a bra deal? #SharkTank" added another.
Kevin O’Leary told a couple who created a kids’ clothing line that “clothing is not my thing.” But on the prior segment he invested in a bra company. What’s his thing, boobs? @ABCSharkTank pic.twitter.com/DKunGs2Qz1— Schwartz (@SchwartzTime) March 12, 2022
Following suit, Lori, too, walked away from making them an offer. All eyes were on retail giant Daymond John. However, Daymond explained that due to their prices and sales, the equity he would be asking for would be far too high and for him, that would feel like they are giving up their dream. It all came down to Barbara Corcoran, who believed that the brand could grow far more and that the Adedokuns were heavily underestimating themselves. She made them an offer for 33.3% with a $500K credit line. They countered with $200K for 30%, but Mark warned them not to nickel and dime it. The final offer she made them was $200K for 33.3%, which they eventually accepted.
Fans were thrilled to see that Barbara made them a deal. "Ordering dresses for my granddaughters immediately!!! These are beautiful!" tweeted a fan. "Congratulations to @BarbaraCorcoran and #AdeAndAyo! We are excited to see your continued success! Great product! #SharkTank noted another. "So glad @BarbaraCorcoran made the deal. Great people making great clothing! I love it. #SharkTank" added another.
Ordering dresses for my granddaughters immediately!!! These are beautiful!— Dianne Bostic (@DianneBostic1) March 12, 2022
Some fans, however, thought that Ade+Ayo gave up too much equity and were disappointed that Daymond backed out from the deal, despite him explaining why he did so. "I'll elaborate on my previous tweet. If the deal didn't make sense to Daymond business wise I understand. I just think he should made one for the culture #SharkTank" tweeted a fan. "Ade-ayo look like they got great clothes. I was surprised that they took Barbara's deal," said another. "Something about Barbara on Shark Tank saying that she has to be equal to these two Black owners with their very Black business doesn't feel right to me." added another.
I'll elaborate on my previous tweet. If the deal didn't make sense to Daymond business wise I understand. I just think he should made one for the culture ✊🏾 #SharkTank— Linda (@mzcaramelbunni) March 12, 2022
Ade-ayo look like they got great clothes. I was surprised that they took Barbara's deal,— charles d. haskell (@newyorkmets1986) March 12, 2022
Something about Barbara on Shark Tank saying that she has to be equal to these two Black owners with their very Black business doesn’t feel right to me.— Sarah B. (@FourtyFour_4s) March 12, 2022
'Shark Tank' Season 13 airs on Fridays at 8/7c on ABC.
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