Technology Enabled Clothing – SCOTTeVEST – Update

SEASON 3 EPISODE 7

PITCH

apparel with pockets specially designed to hold tech gadgets

ENTREPRENEUR

Scott Jordan

ASKED FOR

$500,000 for 15%

GOT

NO DEAL

SHARK

NO SHARK

STATUS

IN BUSINESS

What is ScotteVest?

SCOTTeVest is a clothing firm that entails strategically- located compartments for ferrying personal items such as tablets, smartphones, and other portable gadgets. Although it’s marketed for travelers, the organization also caters for law-enforcement and military officers who need to carry a glut of gadgets.

ScotteVest garments are engineered to carry your items in 42 uniquely designed pockets. Their design distributes the weight of loaded pockets uniformly within the clothing while maintaining a non-bulky and slim silhouette.

History

The company was founded in 2000 by Scott Jordan in Chicago, Illinois. Their brand name was attuned in 2002 to minimize its similarity to the lower case ‘e’ in IBM, thus preventing a lawsuit. The firm moved to the Ketchum, Idaho, in 2003 and changed its name from Scott eVest to ScotteVest following a lawsuit by the Scott USA organization.

Its first product, ‘eVest,’ was dubbed as ‘ fisherman’s techie vest,’ but after multiple years of innovation, ScotteVest has included more than fifty stylish, top-notch items for women and men.

Currently, its board members are Steve Wozniak (Apple’s co-founder), Hap Klopp( North Face’s founder), and Robert Scoble( tech-evangelist)

About Scott Jordan

Scott Jordan maintained his CEO up to 2017, where his role in the company was transferred to the present president Rule Marshall. Scott founded the company with zero fashion experience and grew it with his wife Laura in their guest bedroom.

He appeared on Shark Tank on March 2, 2012, but was unwilling to give a part of ScotteVest to the Sharks and chose TEC (a licensing Firm)

Since he loves sharing tips with entrepreneurs, students, and competitors, Scott has written the book, Pocket Man, that encompasses his mistakes and lessons learned. He has also made multiple public appearances, such as the Big Idea with Donny Deutsch.

21st Century Intelligent Clothing

Besides jackets, coats, pants, and other outerwear, the company offers boxer shorts with a Smartphone compartment. These garments contain incorporated conduits for threading flexes and wires.

The smart pockets sport advanced features like a weight management unit that ensures optimum comfort and carrying capacity, Personal Area Network ( links the bags to each other via the lining), removable sleeves for easy conversions to vests, and a sunglasses pocket( contains attached chamois for cleaning the lenses and screen).

Other designs feature removable, flexible solar panels that charge devices. The firm also provides a wearable battery for chagrining Google Glass, integrated into shirts.

Sales and Revenue

ScotteVest records steady yearly revenue growth of between 20 percent to 40 percent. During December 2013, it made annual sales of about $10 million, and most of the products were sold through their website.

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