Pretty Rugged's Shark Tank journey: How blankets turned into a success story
Pretty Rugged, founded by Tracy Slocum, appeared on Shark Tank Season 14 to pitch her high-margin premium outdoor blankets and apparel. Despite losing out on the $200,000 deal offered by Lori Greiner and Robert Herjavec on the show, the brand has continued to operate successfully, generating millions in revenue and expanding its operations.
Source: Facebook
TABLE OF CONTENTS
- Key takeaways
- Explore Pretty Rugged's Shark Tank journey
- Pretty Rugged's Shark Tank pitch
- How is Pretty Rugged doing after Shark Tank?
- How much does a Pretty Rugged from Shark Tank cost?
- Who owns Pretty Rugged?
- Did Pretty Rugged get a deal on Shark Tank?
- Is Pretty Rugged still in business after Shark Tank?
- How much is Pretty Rugged worth?
Key takeaways
- Tracy Slocum pitched Pretty Rugged products on Shark Tank in October 2022, asking for $200,000 for 10% equity, with $3 million in lifetime sales at the time.
- The company's flagship waterproof faux fur blankets cost between $36 and $40 to produce and retail at $290, achieving gross profit margins of up to 80%.
- Lori Greiner and Robert Herjavec offered Tracy $200,000 for 25% equity, but the deal was never finalised.
- Pretty Rugged has continued to operate and generate multi-million-dollar yearly revenue in spite of the unresolved deal.
Explore Pretty Rugged's Shark Tank journey
Inspired by her great-great-grandfather and her own love for adventure on Lake George in New York, USA, Tracy Slocum Arakelian founded Pretty Rugged. Since its launch in 2017, the lifestyle brand company has produced blankets and pieces of clothing that embody comfort, luxury, and modern design.
On 21 October 2022, Tracy pitched her products to Mark Cuban, Lori Greiner, Robert Herjavec, Kevin O'Leary, and Emma Grede on Shark Tank Season 14, episode 5. In her pitch, she presented windproof, waterproof, and washable faux fur blankets, pieces of outerwear, and accessories.
Source: Instagram
Pretty Rugged's Shark Tank pitch
In her Shark Tank pitch, Tracy Slocum asked for a $200,000 investment for 10% equity, valuing the company at $2 million. Slocum showcased the brand's premium luxury and outdoor lifestyle products, particularly the flagship waterproof and windproof faux fur blankets.
She revealed that the blankets, manufactured with a proprietary fabric called RuggedTex, cost $36 to $40 to make and sold for $290 at retail and $290 wholesale, generating high profit margins of 70% and 80%, respectively.
At the time of the pitch, Pretty Rugged had made $3 million worth of lifetime sales. In 2021, the company brought in $1.2 million in revenue and a net profit of $32,000.
Source: Facebook
Tracy spent $180,000 on trade shows in 2024 and had funded a large purchase order. She had booked $715,000 in sales by July 2022 but faced a $250,000 loss for the year. Despite the high lifetime sales and margins, Kevin O’Leary expressed concern over the company's reported losses and supply chain issues.
After inquiring more about her product, sales, profit, and revenue, Lori Greiner and Robert Herjavec offered her $200,000 for 25% equity. Lori would also offer help with sales, and Robert would offer financial guidance. Although Slocum countered with 20% equity, they settled on a 25% ownership.
How is Pretty Rugged doing after Shark Tank?
Having grown into a multimillion-dollar business with $3 million in lifetime sales and over 30,000 units of its flagship product sold since its launch, Pretty Rugged is successful. The brand's success was significantly boosted by a featured appearance on Shark Tank and a feature on Oprah Winfrey's Favorite Things.
How much does a Pretty Rugged from Shark Tank cost?
Pretty Rugged products featured on Shark Tank include their original waterproof, windproof, faux fur-lined blankets and wearable items like scarves, capes, and wine totes. The outdoor blankets can cost as much as $122.29, while the indoor blankets cost between $122.29 and $390.87.
Who owns Pretty Rugged?
Pretty Rugged is a woman-owned and woman-run apparel company founded by Tracy Slocum. As per her LinkedIn profile, she has more than seven years of experience in retail design, manufacturing, global sourcing, and production.
Did Pretty Rugged get a deal on Shark Tank?
Tracy Slocum got a deal from Robert Herjavec and Lori Greiner, who offered $200,000 for a 25% stake in the company. However, through Pretty Rugged's Shark Tank update, it was revealed that the deal was never finalised, and the contracts were not signed, meaning the investment did not go through.
Is Pretty Rugged still in business after Shark Tank?
Despite the Shark Tank deal with Lori Greiner and Robert Herjavec not closing, the company is still in business. Slocum generated millions in annual revenue, as the exposure from the reality TV show significantly boosted sales, leading to the purchase of new equipment and additional warehouse space to handle increased orders and grow the business.
Source: Facebook
How much is Pretty Rugged worth?
According to the Albany Business Review, Pretty Rugged's net worth was alleged to be approximately $2 million in 2023, with a valuation of $2 million discussed during its appearance on Shark Tank in 2022.
Pretty Rugged's Shark Tank appearance did not result in a finalised investment from the sharks. However, the national exposure pushed significant growth for the company, leading to increased sales, product expansion, and sustained success in the premium outdoor lifestyle market.
Legit.ng recently published a status update on Minus Cal. Minus Cal was an innovative fat-blocking protein bar and supplement product that was pitched on Shark Tank Season 11, episode 1, and claimed to help with weight loss.
Founded by Crom Carmichael and Barrett Jacques in 2017, the businessmen sought to get $500,000 for 20% equity. The pitch elicited scepticism from all the sharks, leaving the entrepreneurs without any offers. Read on to find out where the business is today.
Source: Legit.ng
