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Discover Hood Hat: Custom Hats to Represent Your Neighborhood, Brand, or Business
Hood Hat, as featured in episode 21 of season 15 of Shark Tank, is a brand specializing in custom hats that allow you to represent your neighborhood, brand, or business with style.
With a focus on personalization, Hood Hat offers a variety of collections and a customizer tool to design your perfect hat.
Whether you want to showcase your hometown pride or create a unique piece for your company, Hood Hat has you covered.
Their collections include options like the “Name Game,” “The Clean,” and “Pro Baseball,” ensuring there’s something for everyone.
The customization process is user-friendly, with over 100 color and fabric combinations available. You can get your custom hat fast with no minimum order requirements and quick shipping times (4-5 days).
Max Nelson, founder of Hood Hat, launched his premium handcrafted baseball cap line to fill a market void for customizable, high-quality headwear. Rooted in his Staten Island upbringing, Nelson’s brand reflects neighborhood pride and personal expression.
Hood Hat, made in NYC from luxurious materials, emphasizes meticulous craftsmanship and community support, donating 5% of sales to the Anti-Recidivism Coalition. Celebrities like Jay Z and Ryan Reynolds are fans, showcasing Hood Hat’s unique niche in fashion.
Hood Hat specializes in custom hats that help users design their hats online. The hats focus on hometown pride and unique styles and are made with high-quality materials.
Each hat comes with a unique logo or design, and customers can choose the color and style that best fits them.
Hood Hat aims to offer stylish headwear for everyone and is also durable and comfortable. Their goal is to bring people closer to their roots through fashion.
Before appearing on Shark Tank, Hood Hat had a modest but growing customer base. The brand captured attention with its unique custom designs and high-quality materials.
Early customers appreciated the chance to create hats that showcased their hometown pride. Hood Hat was spread mainly through word-of-mouth and social media. The initial reviews were positive, noting that the hats were stylish and comfortable.
HOOD Hats on Shark Tank: Luxury Headwear Redefined
Max Nelson showcased his company, Hood Hat, on Shark Tank in Season 15. He sought an investment of $500,000 in exchange for a 5% stake in Hood Hat.
He introduced the product as a platform for creating custom hats representing one’s hometown. The caps were stylish and had a nostalgic look.
During his pitch, Max explained how each hat could be customized with different designs and colors.
He also shared the unique features that set Hood Hat apart from other brands. The presentation highlighted the product’s distinct market appeal and potential.
In his initial pitch, Max emphasized, “We use top-tier materials like merino wool, gabardine, cashmere, and Japanese twill. They aimed to provide customers with hats that not only fit better but also match the quality of their other clothing.”
He continued, “HOOD designs and crafts classic, customizable luxury hats. We wanted to disrupt the traditional hat market, and in doing so, we created a new category: luxury headwear.”
You can explore Hood Hats’ website to find a hat for your city or town or even design your own. They also offer hats featuring state logos, sports logos (unlicensed), and “Swiftie” logos, among others.
You can order a personalized hood hat for about $70 and $90, with general prices ranging from $65 to $120, depending on the style. They frequently offer discounts, such as 40% off when you buy ten or more hats and a Buy One, Get One 50% off deal.
When asked about funding, Max explained that he had self-financed Hood for the first two years. Later, he raised some money from friends and family.
The company has avoided large investment firms, taking pride in its independent growth.
Barbara inquired, “You’re asking for $500k for 5%, so you must have impressive sales numbers.”
Max responded, “Yes, we’ve achieved $1.9 million in total sales so far.”
When the sharks asked about the start date, Max said, “We began in spring 2018, making $18,000 in sales that year. In 2019, we made $23,000.
In 2020, we introduced a customization platform and made $364,000. In 2021, we reached $508,000. This year, we’re aiming for $1 million in sales.”
Kevin then asked if Hood Hats was profitable. Max admitted that despite the strong sales figures, the business wasn’t yet profitable.
Mr. Wonderful expressed frustration, noting that despite seeking a $500k investment for a 5% stake, implying a $10 million valuation, the company lacked free cash flow in a market where hats are common. He foresaw significant challenges ahead for Hood Hats.
Mark Cuban inquired about profit margins. Max disclosed that each hat costs $14 to make and sells for $90, with an additional $10 for customization. This led some viewers to question why the company wasn’t profitable despite the high markup.
Mark Cuban criticized the valuation, saying it was too high compared to the company’s revenue. He decided to pass on the deal.
Mr. Wonderful also declined to invest, feeling the valuation wasn’t justified. He expressed disappointment, noting that in the past, he would have strongly criticized such a valuation.
Barbara, Lori, and Michael Rubin shared similar concerns and chose not to make an offer. Their primary worry was that the business had been around for a while but still wasn’t profitable.
Hence, there was no deal between Hood Hat and Sharks on the show.
Hood Hat Challenges and Growth After Shark Tank
After appearing on Shark Tank Season 15, Hood Hats faced criticism for their high $90 price tag and lack of profitability despite $1.9 million in sales. The sharks deemed the company’s $10 million valuation unrealistic, leading to no investment offers.
Post-show, Hood Hats continues to sell luxury, customizable caps online, but viewers remain skeptical about their pricing strategy. The company is still striving to achieve profitability and market competitiveness.
Hood Hat faced a few bumps after the show. Their main issue was that they had been around for a while but were not making profits yet. The Sharks did not believe in their business model’s ability to be sustainable. Despite this setback, the company persisted.
They focused on improving their product and expanding their market reach. By using social media smarter, they gained more customers. Over time, Hood Hat grew stronger and more stable.
Max knew they needed a new strategy to grow and decided to focus more on social media marketing to reach a wider audience. They also worked on improving their website for a better customer experience.
The partnership with local stores helped the brand get its hats in front of more people. To stand out, they introduced limited-edition designs that created excitement among customers.
By listening to feedback, they were able to make changes that attracted new buyers and kept existing ones happy.
Hood Hat Success Stories After Shark Tank
Many customers have shared their love for Hood Hat in which they talk about the unique designs and great quality. One customer said they wore their hat every day because it was so comfortable.
Another customer mentioned getting a lot of compliments and questions about where they got their hat.
Hood Hat has even been seen on celebrities like Ben Affleck and Ryan Gosling. These positive stories help show how popular Hood Hat has become since appearing on Shark Tank.
After Shark Tank, Hood Hat pursued several partnerships. These collaborations helped grow the brand. Max Nelson worked with local businesses to create unique designs. The company also teamed up with influencers to increase visibility.
Hood Hat expanded its reach through a partnership with a fashion retailer. Celebrities like Ben Affleck have boosted the popularity of hood hats.
These collaborations played a key role in the brand’s continued success and market expansion. Hood Hat thrived by leveraging strategic partnerships post-show.
Hood Hat Changes and Innovations
After Shark Tank, Hood Hat made several changes. First, they improved their hat designs. They focused on better materials and a more comfortable fit. Then, they updated their website. The new site made it easier for customers to design custom hats.
Hood Hat also introduced new styles and colors. This kept their products fresh and exciting. Finally, the company added a sustainability initiative, using eco-friendly materials. These innovations helped Hood Hat stay relevant and grow in a competitive market.
Hood Hat focused on improving its product after Shark Tank. They used better materials to make the hats more comfortable. Their new designs offered a better fit for different head sizes. The company also added more colors and styles to its lineup.
Customers could now choose from a wider variety of options. Additionally, Hood Hat made their products more durable. These changes aimed to meet customer needs and boost satisfaction. These efforts helped the brand stay competitive in the market.
The Hood Hat team continuously sought to improve their product. They introduced customizable options, allowing customers to design hats that reflected their personal style or hometown pride.
The team also developed a new app, making it easier for users to create and preview their custom hats. In addition, they partnered with local artists to offer exclusive designs.
These innovations helped keep the brand fresh and appealing to a wider audience, meeting diverse customer needs and preferences. Hood Hat is still in business with an estimated net worth of $1.5 million.
Also, read about other businesses from Season 15, Episode 21:
