R. Riveter Handbags Update | Shark Tank Season 7

Lisa Bradley and Cameron Cruse were military wives who kept moving from place to place and couldn’t find steady jobs. They saw that other military spouses had the same problem, frequent relocations made it hard to earn a living. To fix this, they started R. Riveter, a business that hires military spouses to make handbags from military surplus materials while working from home. This gives them a reliable way to earn money no matter where they live. What will the sharks think of this up-cycling business? Find out in our R. Riveter update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to R. Riveter after Shark Tank.

Lisa and Cameron entered Shark Tank Season 7, seeking $100,000 for 20% equity in their hand-made leather bags. After their pitch, they made a deal with Mark Cuban for $100,000 for 20% equity plus a line of credit.

In terms of a R. Riveter update, the company experienced significant growth after its Shark Tank appearance, increasing sales from $300,000 to $2.4 million and expanding its workforce to support demand.

Shark	Result
Mark Cuban	Accepted offer of $100,000 for 20% equity plus a line of credit
Kevin O’Leary	$100,000 for 20% equity
Robert Herjavec	$100,000 for 20% equity
Lori Greiner	No offer
Daymond John	No offer

Shark Tank R. Riveter Pitch

• Entrepreneurs: Cameron Cruse and Lisa Bradley
• Business: Hand-made leather bags made by military wives
• Ask: $100,000 for 20% equity
• Result: $100,000 for 20% equity plus a line of credit
• Shark: Mark Cuban

The R. Riveter pitch began with an at-home segment. Here, we met Cameron and Lisa, military wives who revealed that military families move about every 3 years, which makes gainful employment nearly impossible.

Their business provided military spouses with remote work, allowing them to create handbags from old military uniforms, blankets, and gear.

These pieces were then sent to their store in Southern Pines, North Carolina, where they were assembled and shipped to customers.

By using surplus military materials, they kept costs low while ensuring durability and quality.

Robert Herjavec picked up a sample and asked what Lisa meant when she said 15 military spouses worked on it.

She explained that each part was made in different locations, then shipped for final assembly.

This decentralized model allowed military spouses to earn a stable income regardless of where they were stationed.

Lisa revealed that it cost $55 to produce and retailed for $220, giving them a 300% profit margin.

Kevin O’Leary wanted to understand their customer base. He asked if most buyers were military families.

Cameron admitted that while many were, their real focus was reaching those who supported the military and wanted to contribute to the cause.

Kevin then asked where most sales were happening. Lisa said 60% were online, with the rest coming from their physical store.

When Robert asked about their total revenue, Lisa shared that they had made $300,000 in sales over the past year.

However, their projections showed a modest increase to $400,000 with an investment. Kevin questioned this, asking how an investment would only increase sales by 25%.

Lisa explained that they had only spent $9,000 on marketing so far. Therefore, with proper funding, they could significantly boost brand awareness and reach a much wider audience.

Mark Cuban then asked about their online strategy moving forward. Cameron responded that most customers found them through press coverage and word-of-mouth.

Despite the sharks’ growing interest, Kevin raised concerns about pricing. He pointed out that the bags were expensive and questioned whether that could limit growth.

However, Cameron countered that customers valued American-made, handcrafted products, especially since their purchases directly supported military families.

Those who resonated with the mission had no issue paying a premium.

Daymond John believed Lisa and Cameron were capable of scaling on their own. Rather than taking a deal, he advised them to retain full ownership and opted out.

Meanwhile, Kevin saw potential and made them an offer of $100,000 for 20% equity, exactly what they had asked for.

Robert, equally interested, matched Kevin’s offer, giving Lisa and Cameron two identical deals to consider.

Mark, however, wasn’t done. He made the same offer of $100,000 for 20% equity and sweetened the deal by offering to fund their inventory and any necessary equipment.

With three identical offers on the table, Mark’s added benefits made the choice clear. They accepted Mark’s offer and left with a deal.

But how is the company doing today? Keep reading our R. Riveter update to find out.

Shark Tank R. Riveter Update

Our R. Riveter update found that after the episode aired, sales jumped from $300,000 to $2.4 million.

The company expanded its workforce, increasing its remote employees from 13 to 31 and on-site staff from 11 to 21.

In 2017, R. Riveter secured an additional $200,000 in angel investment. This funding helped them grow their production and reach more customers.

Further, in 2018, the company gained national recognition. It ranked 298 on the Inc. 5000 list of fastest-growing private companies.

It also expanded retail operations, running storefronts in Southern Pines, NC, and Columbus, OH.

They also introduced “Heritage Bags,” handbags made from a loved one’s old military uniform.

In February, 2020, the company appeared in The Shark Tank Greatest of All Time Special in the “Greatest Businesses with a Social Cause” segment.

That same year, R. Riveter operated two 5,000-square-foot manufacturing centers in North Carolina and Florida.

In October, 2022, the company’s Wachula, Florida location was damaged by Hurricane Ian. In a show of community spirit, they donated 20% of sales proceeds to hurricane recovery efforts in Hardee County, Florida.

The company grew to 80 Riveters in May, 2023,  including 35 remote Riveters and 45 employees.

At the time of this writing, they’ve rebuilt in Wachula and have annual revenue of $2 million

You can purchase an R. Riveter bag on Amazon, but you can also purchase Heritage bags and new lines from its website.

We’re calling this R. Riveter update a success.

Before you go, check out our other company updates from Shark Tank Season 7 Episode 16. You can find them below.

• BearTek Update
• Major Mom Update
• Combat Flip Flops Update

Curious to find out more on companies and products? Check out our Season 7 Products Page!