Technology Enabled Clothing is the licensing department of Scott Jordan’s ScottEvest empire. Scott, a non-practicing attorney, discussed this facet of his firm in Shark Tank episode 311.
All electronic devices (such as iPads and cell phones), which have become commonplace in modern life, can be accommodated by the several compartments and wiring found in technology-enabled clothing.
A garment with a “system” for Technology Enabled Clothing makes traveling safer, more convenient, and quicker at airport security checkpoints.
The patented method is used by Jordan’s own retail company, ScottEvest, and he intends to license the creation to other producers. A favorite of the tech-savvy audience is ScottEvests.
What is Technology Enabled Clothing?
If you work in the electronics sector, you undoubtedly already know how difficult it is to transport all those gadgets.
You have your laptop, digital camera, phone, tablet, and also all of the add-ons and gadgets that go with them.
High-level access to all of these devices is provided by Technology Enabled Clothing (TEC) via covert pockets located in the lining of the clothing. Because TEC hides cords, staying connected while traveling is simple.
Shark Tank was contacted by the creator of ScottEvest by TEC with a $500k offer for a 15% stake in the business. Due to difficult negotiations, TEC was unable to get an investment.
Who Created Technology Enabled Clothing (TEC)?
Scott Jordan invented SCOTTeVEST. This patented vest has holes for threading earbud wires through. The majority of Shark Tank investors were skeptical of Jordan’s pitch.
Mark Cuban expressed his displeasure with Jordan’s trademark. Which allows him to sue any small designer who incorporates such a hole into their active wear.
Jordan was promoting Technology Enabled Clothing, or TEC, rather than the garment itself.
TEC Before Shark Tank
Scott Jordan is a self-made business magnate who does not practice law. However, SCOTTeVEST, Jordan’s empire, is known for its innovative clothing line.
The term TEC stands for Technology Enabled Clothing. It is a product with several interior pockets designed primarily to store and protect mobile electronic devices.
This garment is designed to be worn under any vest or jacket and is intended to make transportation and even airport security easier.
While Jordan only uses this one-of-a-kind technique in his retail business, his ultimate goal is to license the patent to other well-known outwear manufacturers.
ScottEvests is already well-known among technology enthusiasts, so he is confident that his invention will be well-received.
However, the licensing agreement he has been eyeing will necessitate the assistance of someone with the necessary connections.
TEC goes to Shark Tank in the hopes of receiving an investment from one of the world’s most powerful businessmen or women.
Who made an investment in TEC?
Robert Herjavec and Kevin O’Leary approached Jordan with offers. Jordan spoke on the phone with Apple co-founder Steve Wozniak, but walked away empty-handed, leading many Americans to believe he was a greedy jerk.
On his website, Jordan clarifies his side of the story, stating that after the episode was completed, he went to shake hands with all of The Sharks, including Mark Cuban, who complimented Jordan on a job well done.
Instead of shaking hands, Herjavec told him to “show some respect.” Then did not shake hands with anyone else.
TEC Shark Tank Update
Jordan and his company have thrived, and ScottEvest anticipates revenue of around $20 million in 2013. Technology Enabled Clothing is also in the process of suing AyeGear for patent infringement.
Jordan debuted the ScottEvest TEC 2.0 Jacket at the Consumer Electronics Show in January 2013. The next-generation jacket includes some novel features.
The sleeves can be removed and headphones can be incorporated into the collar. The lining contains batteries, and solar panels on the shoulders provide power for on-the-go gadgets. Marty McFly’s only flaw is his inability to self-size!
Scott Jordan kept his exuberant demeanor. After referring to Fox News viewers as “fucking fools,” he was forced to resign as CEO in 2017.
In 2019, he regained control of the company after the bank called a $2 million loan. The loan was used to pay for television advertisements.
The advertising team was not tracking the effectiveness of the advertisements and simply continued to pour money at them, resulting in the $2 million bills.
Jordan repaid the loan and reclaimed ownership of the company. During the 2020 Covid-19 outbreak, Scott hosted a series of live streams with his mother-in-law to discuss travel.
In July 2021, the company’s annual revenue will be $3 million. Jordan’s net worth is estimated to be $65 million.
Is TEC Still in Business?
Jordan’s company has grown significantly since he appeared on Shark Tank. In addition to SCOTTeVESTS, the brand now sells pants and shorts online. The Hidden Cargo Pants 2.0 have eight pockets and cost $80.
In addition, a pair of Hidden Cargo Shorts with eight pockets costs $65. They even sell two-pocket travel boxer shorts (25 cents).
