Where is Matador Meggings now? 'Shark Tank' men's wear brand has $2 million in lifetime sales since launch
BARCELONA, SPAIN: Matador Meggings is a clothing brand that specializes in designing and manufacturing leggings tailored specifically for men. The company's leggings are crafted with features to accommodate the male anatomy, providing comfort, functionality, and style for various activities ranging from workouts to casual wear.
The founder of Matador Meggings isValentine Aseyo. Originally from Turkey, he immigrated to the United States and enjoyed a successful career at Facebook, where he dedicated eight years to the company's growth and development. Aseyo's background in the tech industry and his desire to fill a gap in the market for men's athletic wear led him to launch Matador Meggings, aiming to redefine men's leggings. In developing the brand identity for his emerging company, Valentine Aseyo drew inspiration from his Spanish heritage, ultimately choosing matadors as a central design theme.
Matador Meggings has recently introduced a new collection called Floral Meggings to their website, which has garnered excitement and positive reception. Describing the collection on their official Instagram account, the company expressed, "This new style fills our hearts with joy. It's so colorful & vibrant. You can combine it with literally any color you have in your closet." In June 2022, they launched their Pride collection, which received enthusiastic praise from their followers on social media.
What happened to Matador Meggings on 'Shark Tank'?
Entrepreneur Valentine Aseyo made a memorable entrance into the 'Shark Tank' with a pitch that combined humor and enthusiasm for his line of leggings and leisurewear designed specifically for men. His quirky personality and entertaining presentation had the sharks laughing and engaged throughout the pitch.
Valentine then requested a reasonable $250,000 for a 10% equity stake. While the Sharks were impressed by Valentine's dedication to providing a "perfect superhero crotch" with his product, along with the impressive $2 million revenue he's generated, they ultimately decided not to invest.
Kevin O'Leary expressed his usual distaste for ventures lacking proprietary technology, while Mark Cuban voiced his skepticism about serious athletes, like his own Dallas Mavericks, choosing fashion-centric leggings over proven and effective compression pants, even if they have to pair them with shorts to maintain modesty on the court. In the end, Valentine Aseyo left the tank without securing any deal.
What led to Valentine Aseyo launching his company Matador Meggings?
Valentine shared the origin story of his company on its Instagram account. It all started five years ago during his yoga teacher training. Surrounded by a group of over 20 women, he found himself as the only man in the class. While the women comfortably wore yoga pants, he felt excluded due to the revealing nature of traditional leggings, particularly concerning the male anatomy.
Over the years, Valentine noticed that the market failed to adequately address this need. Existing brands either flattened the crotch area, making the leggings uncomfortable or accentuated the male anatomy in ways that Valentine found unappealing. Thus, he envisioned a solution and coined it as his contribution to mankind: MEGGINGS! These were men's leggings intricately crafted to suit male physiology.
Valentine's extensive tech background, spanning over a decade, includes prestigious roles at companies such as Facebook/Instagram, Bandsintown, IBM, and Colgate-Palmolive, which provided him with a unique perspective. Leveraging his experience, he infused functionality into his meggings, integrating features like open phone pockets, secure zipper compartments for valuables, and a convenient t-shirt/towel loop at the back. These additions catered to modern men's diverse activities, from intense workouts to leisurely brunches or festivals.
'Shark Tank' Daniel Lubetzky felt Valentine has 'more to figure out' regarding his company
Daniel Lubetzky shared his insights with Matador Meggings' founder after watching his presentation on X. He expressed that while Valentine delivered an engaging pitch, he believed that having a strong stage presence and entrepreneurial skills doesn't always come as a complete package. Daniel mentioned that he felt Valentine still had aspects to figure out but conveyed his support and well wishes.
Valentine from @matadormeggings gave an entertaining presentation, but stage presence and entrepreneurial chops aren't always a *package* deal. At the end of the day, I felt like Valentine has more to figure out. I really liked him and wish him the best! @abcsharktank #SharkTank pic.twitter.com/jFLpxAcWqW
— Daniel Lubetzky (@DanielLubetzky) October 7, 2023
Regarding why the Sharks may have refrained from striking a deal, Daniel cautioned that @matadormeggings should be cautious about launching too many SKUs (Stock Keeping Units) too quickly. Drawing from his experience building @KINDsnacks' predecessor PeaceWorks, he shared a valuable lesson learned: attempting to cater to everyone's needs can lead to dilution and ultimately loss of a clear brand identity.
@matadormeggings needs to be careful not to launch too many SKUs too fast. I learned this lesson the hard way when building @KINDsnacks' predecessor PeaceWorks: when you try to be everything to everyone, you risk becoming nothing to no one. @abcsharktank #SharkTank pic.twitter.com/101Bwcef6T
— Daniel Lubetzky (@DanielLubetzky) October 7, 2023
What is Matador Meggings's founder Valentine Aseyo currently up to after appearing on 'Shark Tank'?
Since his appearance on 'Shark Tank', Valentine Aseyo has established the headquarters of Matador Meggings in Miami. Matador Meggings has also garnered numerous positive reviews, further solidifying its position in the market. Notably, the leggings were featured in the Strategist column "This Thing's Incredible."
In the review, Alex Blynn lauded the versatility of the leggings, emphasizing their suitability for a wide range of activities, including gym workouts, brunch outings, and even dance parties. What particularly stood out was their comfort, as Blynn mentioned wearing them during a painful episode of sciatica. Describing them as a "shape-defining silver lining" during his medical crisis, he emphasized the comfort and functionality of Matador Meggings that extended beyond regular wear.
Matador Meggings is projecting to make $1 million in sales in 2024
Since its launch four years ago, Matador Meggings has achieved over $2 million in lifetime sales. In 2022 alone, the company generated $620,000 in sales. Looking ahead, the company was projecting to reach a total of $1 million in sales for the current year.
Regarding the cost structure, the leggings are manufactured for $18 per unit and are retailed at $92. This pricing strategy allows for a healthy profit margin while positioning the product competitively in the market.
‘Shark Tank’ Season 15 airs on Fridays on ABC at 8 pm ET. For those who missed the episode, it will be available on demand the following day and on Hulu. Additionally, viewers can explore past seasons and episodes on Amazon Prime Video and iTunes.