Tones of Melanin is a groundbreaking fashion brand that brings a fresh and stylish approach to HBCU-themed collegiate apparel. Founded by Ashley Jones in 2017 while she was a student at Norfolk State University, the brand was created to fill a gap in culturally relevant and fashion-forward clothing for Historically Black Colleges and Universities (HBCUs). With a blend of streetwear and collegiate fashion, Tones of Melanin has grown into a multi-million dollar business with major retail partnerships and a strong commitment to supporting HBCU culture. The brand’s journey to Shark Tank Season 14 highlighted its success, growth potential, and Ashley’s entrepreneurial spirit, securing a $300,000 investment from Mark Cuban.
Net Worth of Tones of Melanin
While the exact net worth of Tones of Melanin is not publicly disclosed, the company’s valuation on Shark Tank was $6 million, based on Ashley Jones’ initial offer. With lifetime sales exceeding $3.3 million and growing retail partnerships, the brand’s financial value continues to rise. If sales growth and expansion plans stay on track, Tones of Melanin’s net worth could significantly increase in the coming years.
Key Takeaways
- Founder: Ashley Jones launched Tones of Melanin in 2017 while attending Norfolk State University to fill a gap in HBCU-themed collegiate fashion.
- Shark Tank Ask: $300,000 for 5% equity at a $6 million valuation.
- Deal Secured: Mark Cuban invested $300,000 for 12% equity.
- Sales & Growth: $1.4 million in annual revenue, with major retail partners like Fanatics, Dick’s Sporting Goods, and Follett.
- Impact: Over $50,000 donated to HBCU causes, with expansion plans in motion post-Shark Tank.
- Future Goals: Scaling operations without third-party logistics and offering custom homecoming apparel for HBCU students.
Tones of Melanin: Brand Overview
| Category | Details |
|---|---|
| Founder | Ashley Jones |
| Industry | Apparel, Collegiate Fashion |
| Established | 2017 |
| Product | HBCU-branded jackets, hoodies, windbreakers, and more |
| Investment Ask | $300,000 for 5% equity |
| Valuation | $6 million |
| Sales Channels | Fanatics, Dick’s Sporting Goods, Belk, 18 HBCU bookstores |
| Total Lifetime Sales | $3.3 million |
| Last 12 Months Sales | $1.4 million |
| Recent Purchase Order | $973,000 from Follett |
| Profits | $300,000 to date |
| Manufacturing | Pay-after-delivery model |
The Story Behind Tones of Melanin
Ashley Jones launched Tones of Melanin in 2017 while attending Norfolk State University. Noticing the lack of stylish and diverse HBCU apparel, she decided to create her own designs, sometimes selling them straight from her backpack. With a background in graphic design, creative directing, and marketing, she rapidly built the brand, securing licensing deals with every HBCU and historically Black fraternities and sororities.
Today, Tones of Melanin has grown beyond t-shirts, offering jackets, hoodies, windbreakers, hats, and more. Ashley’s commitment goes beyond fashion—she has donated over $50,000 to HBCU causes and is dedicated to expanding her brand with affordable yet high-quality apparel.
Tones of Melanin’s Shark Tank Pitch
Ashley entered the Shark Tank with an energetic marching band, immediately capturing the Sharks’ attention. She highlighted that HBCU students have been historically underrepresented in collegiate fashion and emphasized how her brand fills this gap. The Sharks examined the apparel, praising the quality and pricing:
- Jackets: Cost $28 to produce, wholesale for $86, retail for $110.
- Reversible Jackets: Cost $38 to make, retail for $165.
- Reversible Shorts: Cost $20, wholesale for $48, retail for $100.
Ashley explained that 75% of sales come from retail partnerships, while the rest is from eCommerce. She also revealed a $973,000 purchase order from Follett, showcasing her business’s demand and potential.
Investor Reactions
- Lori Greiner admired Ashley’s story but didn’t feel she had expertise in this niche, so she opted out.
- Barbara Corcoran praised Ashley’s energy but also passed due to limited industry knowledge.
- Kevin O’Leary expressed concerns about inventory challenges and scalability, deciding not to invest.
- Daymond John acknowledged the fast-growing HBCU apparel market, but due to conflicts of interest with competing businesses, he did not invest. However, he provided valuable advice on expanding sales through campus representatives.
- Mark Cuban was highly impressed by Ashley’s entrepreneurial spirit and determination. He offered $300,000 for 15% equity. After some negotiation, they settled on 12% equity, sealing the deal.
Post-Shark Tank Growth
Following the Shark Tank appearance, Tones of Melanin experienced a significant surge in online orders. The brand gained more visibility, leading to increased demand. While there is no official confirmation that the deal with Mark Cuban closed, Ashley has continued to grow her business.
In an interview with Black Enterprise, she expressed her desire to expand Tones of Melanin without relying on third-party logistics. This move could help maintain quality control and increase profit margins. The company is also gearing up for the fall school season, offering customized homecoming clothing for HBCU students.
Future Outlook
Ashley Jones’s journey with Tones of Melanin exemplifies resilience, innovation, and a passion for cultural representation. With continued retail partnerships, growing brand recognition, and a strong entrepreneurial mindset, Tones of Melanin is set to become a leading force in collegiate fashion.
Conclusion
Tones of Melanin is more than just a clothing brand; it’s a movement that celebrates and empowers HBCU students and alumni. Ashley Jones has built a business rooted in cultural pride, entrepreneurship, and community impact. With a growing presence in major retail stores and online markets, the future looks promising for Tones of Melanin. As the brand continues to expand, it serves as an inspiration for young entrepreneurs, demonstrating that passion and determination can turn a simple idea into a thriving business.
