Yourself Expression – Custom Jewelry
NO DEAL
EPISODE SUMMARY
🕓 Air Date: May 6, 2016
Asking For:
$50,000 for 20%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Yourself Expression is an interchangeable accessories company offering over 1,000 designs with five unique collections designed for women, men, kids, and pets.
WATCH HERE
IN A RUSH?
Click these to jump to the section you want to read.
Background Story
Siblings Shelby Gogulski, 15 years old, and Gordy Gogulski, 10 years old, from Jacksonville, Florida, founded Yourself Expression. The idea originated when Shelby, inspired by expensive boots with a cute bow, decided to create her own bows to match her outfits. This sparked a crafty project that led them to create interchangeable accessories.
The company was officially started over a year ago when Shelby was trying to find a way to help her parents pay for her high school tuition. Initially, it was a small venture selling interchangeable boot clips to friends and family, but with the inclusion of Gordy, they started designing more accessories. Since the creation of their website in August of the previous year, they achieved $250,000 in sales.
The Product
Yourself Expression offers interchangeable accessories with a unique snap base and separate poppers, allowing one piece of jewelry to have over 1,000 different designs. The product comes in five unique collections tailored for women, men, kids, and even pets.
Each piece is purchased blank, and customers can then choose from a variety of designs to personalize their accessories. Shelby designs the accessories, and they work with four manufacturers to bring the designs to life.
The products are sold individually through their website, and they are currently available in 90 retail locations, including boutiques, hospitals, gift shops, and Hallmarks.
How It Went
The company’s position before Shark Tank
Yourself Expression has shown impressive performance, achieving $365,000 in sales this year. The company is structured as a family-owned business, with Shelby owning 35%, Gordy owning 20%, and their mom owning 25%. Their products are available in 90 retail locations, covering various markets. The Poppers, the interchangeable designs, cost between 30 cents and $1, sold for $4, while the bases cost between $1.20 and $4, sold between $10 and $14.
With net sales at $250,000, the company has generated $80,000 in profit. They express a need for business expertise, and connections to theme parks, cruise lines, boutiques, and souvenir shops, with the main goal of expanding into the souvenir industry, seeking character and sports licensing.
The Negotiations:
The negotiation saw the siblings seeking $50,000 for a 20% equity stake. However, the Sharks were concerned about the inventory management challenges and the potential difficulty in scaling the business. Barbara Corcoran and Kevin O’Leary both opted out, expressing concerns about the business’s long-term viability.
Mark Cuban and Lori Greiner praised the siblings for their achievements but decided to pass, suggesting they might find bigger and better opportunities in the future. Robert Herjavec, too, opted out, advising them to focus on what sells best. The siblings left the Tank without a deal but seemed motivated and determined to pursue their vision for Yourself Expression.
