Matador Meggings Net Worth Shark Tank Update

Women love to wear leggings and even men have shown great interest in wearing them while working out or as casual and comfortable wear. However, men can’t wear the normal ones found in the market as it leads to the prominence of their private groin region leading to embarrassment.

Valentine Aseyo, the owner of Matador Meggings, has introduced the perfect leggings for all men in the world. Their leggings have a modesty pad that conceals the groin region of men. Moreover, it can also increase blood circulation and activate minor muscles that help in working out and good sexual life.

The owner came on Shark Tank to request $250K in exchange for 10% of his company. He also demonstrated how it truly conceals men’s private region and even brought his products along with two models to demonstrate his innovation in the legging industry. Let’s see if he got the deal or not.

Matador Meggings Net Worth Shark Tank Update

Valentine Aseyo was looking for an investment of $250K in exchange for 10% equity in Matador Meggings, which valued the company at $2.5 million. Valentine did not secure a deal on the show. After the episode aired, Matador Meggings gained a good boost in exposure through social media and word of mouth. As per my rough estimate, the current net worth of Matador Meggings in 2024 is around $6 million.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Kevin O’Leary	Out	N\A	N\A
Mark Cuban	Out	N\A	N\A
John Daymond	Out	N\A	N\A
Lori Greiner	Out	N\A	N\A
Daniel Lubetzky	Out	N\A	N\A

The Owner’s Backstory

Valentine related that he was born and raised in Turkey but he is half Spanish. He came to the US as an immigrant and initially worked on the organizational side at Facebook for eight years. One day he was at a yoga class training to be a yoga teacher with all the women wearing leggings and he was the only one who wasn’t wearing them. Then he searched for leggings for men and he found no such product.

Then he started to work on it. He took the foam from her sister’s old bra and used it as a pad. He attached it with his own old-school leggings and that was his first prototype.

Initial Pitch

The owner came on the show to seek $250K in exchange for a 10% equity stake. Their men’s legging line provides bike gear, leggings, and compression shorts in over 50 unique prints and colors.

The additional features in the leggings include an open pocket, a zipper pocket for valuables, a T-shirt towel loop at the back, and silky-smooth fabric to give a comfortable experience to men.

Queries about the Product

Kevin asked the first question about their padded section. Valentine replied that it is called a modesty pad that gives the region a rounded shape. This part is the unique section of their product as there are no other leggings in the market with the same innovation.

Daniel then wanted to confirm if there really is no such product for men in the market. The owner replied that although there are such products, they are used as undergarments, not as leggings.

Kevin then asked if his business was making any money. He replied confidently that he had already sold over $2M worth of clothing.

Daymond asked the time duration of making such huge sales. Valentine highlighted that he launched the product almost three years ago. Last year, his sales were $620K and this year’s expectations are almost $1M.

He also added that in the first year of the business, he made around $365K in sales and in the second, the sales were $800K.

Kevin was then curious to know about his medium for sales. He pointed out that he does everything on his own and he is direct to consumers.

Daymond inquired about his SKUs so far. It was about 50, which was a red flag for the sharks.

Daniel asked about the cost of the product and his profit from it. Valentine highlighted that it costs $18 to make and retails for $92. He also added that in the first year, his sales were low as his main concern was customer acquisition, not gaining profit.

After hearing from Valentine that he wanted other brands to take up his idea, Daniel got confused and asked what would be the differentiating factor. He replied that his product’s color and unique prints make them unique.

Shark’s Response and Final Decision

Kevin was the first shark out of the deal as he considered his idea could be copied by any brand in the market.

Cuban then backed out too as the product has no huge business in terms of functionality.

Lori and Daymond followed the other sharks and decided to back out too as they considered his business to not be investable yet.

Finally, Daniel left the deal as well because of his vagueness in terms of his target consumers.

Product’s Availability

Although the company was not able to secure a deal on Shark Tank, it is still functioning. The product line has been expanded with more features like durability, odor-free, UV-resistant, and irritation-free systems.

Their large social media presence makes it easier for them to stay in business.

Conclusion

Despite not securing a deal on Shark Tank, Matador Meggings continues to grow. The men’s leggings, featuring a unique modesty pad, have gained attention for their innovative design and functionality. The company has expanded its product line with more features and maintained strong sales. With a growing social media presence, Matador Meggings remains popular among customers.