Are you sick and tired of finding suits and blazers not suitable for your build, shape, and size well there is a three-step app that can will just that for you? MTailor is a Men’s clothing tailor that specializes in making clothes that match your needs. With MTailor you can give your measurements from your phone and then customize it as per your choice and finally delivered to your doorstep.
It was the idea of Miles Penn the current owner of Bit body Inc. Miles Penn, wanted to solve what he saw as a problem with odd fitting products from online stores, MTailor has soared from its humble beginnings in 2014 to a popular app that customizes to your needs and fit!
Miles discovered he was dissatisfied by the service given by the tailors in his city as he used to get mismatched clothes and ones that would not fit him. So, he chose to create this app that would change his life forever. “I founded MTailor! In order to develop suit-worthy apparel for everyone of any age (specific to men).
MTailor at a glance:
| EPISODE | Season 7 Episode 17 |
| BUSINESS | Custom tailor app from men and women. |
| ENTREPRENEUR | Miles Penn |
| ASKED FOR | $2,500,000 For 10% at $250 million valuation |
| ACCEPTED OFFER | No/None |
| SHARK | No Shark |
| BUSINESS STATUS | In Business |
| WEBSITE | MTailor |
Index:
Founders Story:
How do you make it happen –A technology that measures you perfectly as per your fit with the help of an app. “YOU START WITH THE FIT”. In 2014, Miles started his Business from a prototype in the form of an app the users love and have no complaints as to the working of the app. They have given it a 4.1-star rating and love it all the same.
The technology that created these custom fits for its clients was like the philosophy of chakras of yoga in meditation. There are 17 points on our body marked by the creator of this app and by measuring them only can you create perfectly fitting clothes.
Miles truly believed in the philosophy of keep is simple yet complex: Instead of extracting and processing stats of height weight and size shape, “just measure the parameters.”Just Customize your clothes, Get measured, Delivered to your home. See it’s easy as 1 2 3! Miles proudly states – that’s about it. “I use real measurements,” he says. “I know that sounds crazy.”
Did MTailor get a deal on Shark Tank?
Miles Penn created this app when he was in college as a project and then decided to start it as a company. He believes his app gives its customers perfectly fitted clothes every time with three simple steps.
The inventor behindMTailor’s product, Miles Penn, pitched his business on Shark Tank. Miles Penn sought investment of $25,000,000 against 10% equity. This was the biggest ask in Shark tank history and sadly the Idea got no deal and no shark.
What happened to MTailor after shark tank?
Miles Penn Shark Tank’s pitch triggered a significant increase in national and international downloads for the company. Not to forget, a review of 4.1 stars was given to the company and they are currently doing well in the business.
- The no. of employees- 49.
- Revenue – $4,400,000
- Valuation – $15 Million.
Great to hear that more people are interested in downloading the app reaching 600,000 downloads. In 2018 with investment from Khosla venture and other ventures a total of 7.2 million making the breakdown 5.2 and 2 million respectively.
MTailor net worth:
The company has extended its line to men: top, suits, bottoms, and women: jeans. Valuation of company Year over Year has grown from $7.2 million from inception to now currently at $15 million in 2020. Outside Shark Tank, Khosla venture is a major investor in the MTailor.
Investors in the company:
Khosla ventures:
Khosla venture is a major investor in the MTailor. It is a company based in the USA that focuses on investments of companies that have changed the face of the industry by introducing their products and have a niche as compared to competitors. It is a major investor and has helped millions of other companies as well.
Competitors:
| Companies | MTailor | Shoptagr | Missy gowns | Dote shopping | Damartex |
| Details | Made to measure dress shirts using iPad | Intelligent Shopping Assistant | Online Retailer of online dresses of high quality | Virtual shopping mall that introduces retailers to users by promoting products on iphone app | Provides clothing and accessories for seniors |
| Founding Date: | 2014 | 2013 | n/a | 2014 | 1953 |
| Locations of HQ | San Francisco USA | Bnei Brak ,IL | Coventry,GB | San Francisco USA | Roubaix, FR |
| Employees | 49 | 68 | N/A | 13 | 3300 |
Interesting Aspects:
MTailor! delivers authentically Customized clothes tailored and best for your build!
- The M tailor has three easy steps to get customized fit clothes for you they are”
- Customize your clothes
- Get measured
- Delivered to you
- Miles was quite arrogant during his pitch on the Shark Tank.
- He got offers from Daymond John and Robert Herjavec but he declined both.
- MTailor is just one of the many “Made to Tailor” shirts companies out there.
- The algorithm /technology of the app is scientifically proven to be 20% more accurate measurements than the professional tailor!
Is MTailor still in business?
The company is profitable both from both downloads and revenue perspectives. With a large user base on mobile phones at a current net worth of $15 million in 2020 the story speaks for itself.
The new version of the brand will offer a diverse line of masks, for the pandemic and will continue along the profitable line of making well-tailored suits that make your fit stand out in the crowd.
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What is MTailor?
MTailor is a Men’s clothing tailor that specializes in making clothes that match your needs. With MTailor you can give your measurements from your phone and then customize it as per your choice and finally delivered to your doorstep.
Who founded MTailor?
It was the idea of Miles Penn the current owner of Bit body Inc. Miles Penn, who wanted to solve what he saw as a problem with odd-fitting products from online stores.
