ENTREPRENEURS: Taylor, Brooks and Tanner Dame
PITCH: Proof Eyewear
ASKING FOR: $150k for an 10% stake
BEST PART OF THE PITCH: The three brothers from Idaho create hand-crafted eyewear from the most sustainable woods out there. They have eco-friendly frames and their family has been in the wood business for a very long time. Since no two trees are exactly alike, no two pairs of Proof glasses are either. They have $433k in sales over 12 months and they predict doubling it. People like Snoop Dogg and Beyonce have worn their glasses. They have a big order from Pacific Sunwear.
DO THE SHARKS BITE? Lori is partners with a large company that makes sunglasses, so she's afraid of a conflict of interest. She's out. Mark follows her lead. Daymond is bummed to hear that the guys don't want their product to be in a major retailer for fear of killing the brand. He's out. Kevin will give the guys $150k for a 25% stake. He also wants $2.50 per order until he gets his money back. That amount drops to a dollar after his investment is returned. Robert offers $150k for 25% with no royalty involved.
THE RESULT: Robert and Kevin bicker about the differences in their offers as the brothers make a phone call to their dad. The guys ask if either shark would be able to up their money offer. They ask Robert for $200k for 20% of the company, but Robert wants to stick with his original offer. That's not something the brothers can do. Robert is disappointed, but the brothers are proud that they stayed true to their vision.