MTailor is a company that does sell customized shirts for men. All that is required is for you to measure your size with the phone camera. Interestingly, they are more accurate as compared to human tailors by 20%. The amount of combinations that are available for unique shirts is over 10,000. This is a very simple process. The company was founded by Miles Penn. He did travel to San Francisco to pitch the idea to Shark Tank with the aim of getting funding. Keep reading to know more about the net worth of MTailor in 2018.
They say everything starts with a very simple idea. Well, that is the case for MTailor. The founder, Miles, he did hate to visit the tailor every time he wanted a new shirt. To him, it was waste of more time that could be utilized somewhere else. He did not love even the idea of visiting the mall and trying new clothes. Online shopping was not working for him too. This is because he had to order five shirts to get the one that does ship and also save himself for four separate returns. Custom clothes are usually a perfect fit. However, this is usually expensive and even a bigger hassle than the regular shopping. That remains. This is what motivated him to start MTailor Company.
At first, he did not have enough capital to expand the business as he would want it to. Therefore, he did approach Shark tanks for funding. He did take through the process of ordering the shirt that he was wearing then. The first step was to choose the fabric that you want. He did choose a heavy purple oxford. Get to pick out a collar. The next thing was the cuff. He chose the one button round. Choose whether you want tucked or untucked options. The next step is getting measured by your phone. The process is very easy, and it takes less than thirty minutes. You have to be in fitting clothing. Find a wall that you can lean on.
Once the device turns green, you are ready to step back. Get into position. Do a single spin with the arms up. After you are done spinning, the camera will compare the measurements to the background. Submit the measurements, and you are ready to go. The prices of the shirts of MTailor are very high. A shirt will go from $69 -$125. He did decline the offer from the shark tank officials.
MTailor business is doing very well on its own. This is even though the shark tank did not invest in it. The company apps are available on both the Android and iTunes platforms. Currently, the app has focused on selling shirts alone. Their website does not have a catalogue of products available. To learn more about this company, it will be advisable to download the app. Here, you will have the first-hand experience.
One of the greatest achievements of the company is being able to establish both the Android and iTunes platforms for the users to be able to access the services. Their website is also enjoying very good traffic, and it will be amazing to see the next big thing they will come up with.
Net Worth and Earnings
There is no doubt that MTailor as a company has undergone a massive expansion. The exact market value of the company is not yet available. However, the company is worth over $14 million and is still growing. The fact that you can do everything in the comfort of your seat. It will be amazing to see the kind of designs that they will come up in the future.
MTailor is a company that has seen a huge expansion in the recent days. The company is a clear indication of what can achieve if only you believe in your ideas. The valuation of the company is about to rise as many people are getting more comfortable with it compared to online shopping.