Tracy Slocum and her company Pretty Rugged appeared on
Shark Tank Pretty Rugged Update
- Entrepreneurs: Tracy Slocum
- Business: Lifestyle Brand
- Ask: $200,000 for 10% equity
- Result: $200,000 for 25% equity
- Sharks: Robert Herjavec and Lori Greiner
The average margin for Tracy and her Pretty Rugged brand is about 80%. Many of the products have landed costs under $50 and yet they sell for more than $200 to consumers. This immediately gained interest with the sharks and sparked more questions about the company’s finances.
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Tracy admitted that her company had generated more than $1.1 million during the previous calendar year and more than $3 million since launching back in 2017. The company only netted about $32,000 because of the high costs of presenting the brand at trade shows. In addition, more than 20 trade shows were planned for the 2022 calendar year.
Kevin O’Leary was concerned that the company was netting such a small amount with so much gross revenue, so he decided to drop out first. Mark Cuban also decided to drop out because he didn’t believe he could provide a lot of value to her company.
Robert Herjavec and Lori Greiner decided to team up and make an offer. They offered $200,000 in exchange for 25% equity. Tracy appreciated the offer and decided to accept their investment.
Let’s quickly cover the Pretty Rugged update now that Tracy secured a deal with the two sharks.
Pretty Rugged immediately received a significant boost in sales and popularity after appearing on the show. The company launched a sale on its website right after the episode, featuring some products cut in price as a promotion. With two big sharks on her team, it only seems like a matter of time until the company blows up.
We will let you know in our next Pretty Rugged update!
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Jeremy is a regular contributor at Shark Tank recap. He has a ton of passion for the show and enjoys researching information about what all the companies are up to now. His favorite Shark Tank companies are The Cookie Dough Cafe and Kronos Golf!