Mo's Bows will have you Smiling, and Styling is the claim Shark Tank receives when Mo Bridges begins his pitch on the hit television show for entrepreneurs. He proudly states that he is NBT, the “Next Big Thing!”
Mo's Bows hand sewn taught by Grandma
Moziah Bridges and his mother have a company called Mo's Bows, a business he created after his grandmother taught him how to sew. He is coming into the Shark Tank asking for $50,0000 in exchange for 20% equity in his company. Mo is seeking a deal with one of the Sharks but more specifically his idol, Daymond John.
Mo is known for always dressing dapper, the same as his father. He even rides his bike while wearing a suit with his bow ties. He is still wearing his handmade ties and looking great.
Originally aired 04/25/14
Episode: Season 5 Episode 526(Amazon)
Entrepreneur: Moziah Bridges
Ask:$50,000 for 20% equity
“Figure out what you like to do and find out how you can make money doing it” is what Mo tells the Sharks. He shares that with everyone.
“I know together we can make a lot of money by making people look good and feel good in my bow ties.”
As of taping his Shark Tank Episode, Mo's Bows has 2,000 bow ties sold, with 1500 in the year leading up to the show. Mo utilizes online marketing, and trunk shows to sell his ties. Each handmade tie costs between $6-10 to make and retails between $45-55.
Mo is seeking $50,000 so that they can secure manufacture to scale up production. Robert is concerned that going from handmade to mass produced will change his product and lower what he can charge for the bow tie.
Mark Cuban chimes in asking Mo if he knows what pricing elasticity is? Mo Doesn't, so Mark explains when you can't produce enough to match your demand, you raise your prices to the point where market and price match.
Sharks in Mo's Bows episode:
The offer for Mo's Bows
Mark Cuban goes out because he is not a fashion guy. Barbara Corcoran goes out saying Mo doesn't need anyone for his business because it is doing well. Robert Herjavec is out because he doesn't think he is the right partner for Mo.
Daymond John is out because he doesn't want to take any equity from him, but he commits to being a mentor for Mo. Kevin O'Leary jumps in and offers $50,000 for a $3 royalty on the bows. Daymond tells Mo if he takes that offer that he will not be his mentor.
Mo's mother chimes in and tell Kevin, “No Deal.” She says that Mo is the CEO of Mo's Bows, but she is the CEO of Mo.
Daymond keeps his promise and is mentoring Mo, showing up at a factory in Belleville, NJ to create Mo's ties and get them all around the world. This manufacturer makes the ties by hand.
Mo's Bows received a test in Neiman Marcus. He could end up in all of their stores. Additionally, Mo's Bows now has a partnership with the NBA, receiving a license to put all the NBA team logos on his ties with an estimated $6 billion in sales this year. Mo is knocking deals down as he turns 16 this year!
Check out his ties at https://mosbowsmemphis.com