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Former fashion model and Rock Bands entrepreneur Lee Dahlberg appeared on Shark Tank season 4 episode 3, presenting his product, fashion leather wristbands containing exotic stones. According to Lee, the Rock Bands not only look good but also offer healing properties, as they are made from animal hides, including crocodile, python, and calf skins.
Robin Leach also appeared to accompany Lee on the pitch, which made the pitch even more impressive. Additionally, Lee mentioned some A-list celebrities who were already wearing his wristbands, including Johnny Depp, Bono, Angelina Jolie, Brad Pitt, and Jack Nicholson.
Lee Dahlberg’s initial ask on Shark Tank was $100k for 20% of his business. The sharks were quite impressed with Lee's numbers, which showed $300k in sales over five and a half years. After offers from Mark and Daymond, they agreed through negotiations.
However, the deal did not go as planned. Currently, Lee sells these bracelets on his personal website.
Rock Bands after Shark Tank: What was the original deal?
Rock Bands were featured in Shark Tank season 4 episode 3, where Lee Dahlberg pitched his wristbands with healing properties to the Sharks. The panel included Mark Cuban, Kevin O’Leary, Daymond John, Barbara Corcoran, and Robert Herjavec.
Lee explained how the stones in the wristbands possess healing properties and have been carved by artisans whose stone crafting lineage dates back to the Ming Dynasty. During his demonstration, a surprise guest, Robin Leach, appeared to support his pitch.
According to Lee's website, leedahlberg.com, the bracelets are described as:
"ROCKBANDS™ by Lee Dahlberg are unique pieces of jewelry that blend stones containing healing properties into bold unisex wearable statements. Take the positive energy with you, every day."
Robin Leach is the voice of the television show Lifestyle of the Rich and Famous. He got right into the Rock Bands and began pitching for the product. He listed celebrities who wore bands, including Britney Spears, Brad Pitt, Angelina Jolie, Tommy Lee, Johnny Depp, Bono, and more. He even mentioned that Bill Clinton had worn a Rock Band.
Lee also explained how he sold his house to invest in his product. Eventually, it all paid off when his company entered America’s top four retail stores.
Lee Dahlberg’s original ask was $100,000 for 20% equity in his company. He also sought help in improving his product’s online presence and getting a lawyer for legal matters.
The sales for Rock Bands were impressive, with Lee mentioning that he made over $300,000 in five and a half years. The cost to produce each bracelet was $12, including the cast. The wholesale price was around $50, whereas the retail price was around $99 to $150.
The company's Facebook page describes the product as:
"A rock on a band makes a Rock Band”… But deeper than that the stones have healing properties."
Mark found these numbers quite impressive and saw potential. Kevin wasn't sure about the product. However, he was interested in branding and licensing. His offer was $100,000 for 100% equity, and Lee would get a 7% royalty.
Barbara said that Lee was unlucky and had spent five years with little to show for it. However, she mentioned the potential of licensing. She joined Kevin in his offer of a 50-50 partnership.
On the other hand, Mark and Daymond offered $100,000 for 40% equity. They mentioned that they would handle licensing, whereas Lee would get 60% of the business and could continue designing the Rock Bands.
Ultimately, Lee took up Mark and Daymond’s offer.
What happened to Rock Bands after Shark Tank?
The Shark Tank deal with Lee didn’t go through somehow. As of now, there have been no significant changes in Lee Dahlberg’s business.
He continues to sell Rock Bands through his personal website, leedahlberg.com, and is active on social media. The company has 2.9k Instagram followers and is also active on X and Facebook.
