Rareform Bags Update | Shark Tank Season 8
Alec Avedissian and his brother Aric were struck by how much billboard vinyl was piling up in landfills, adding to environmental waste. This challenge sparked up the idea for RareForm—a line of eco-friendly bags and accessories crafted from repurposed vinyl. Their approach gives this material a second life, turning it into durable, one-of-a-kind products. Will Alec and Aric get the sharks to buy into their vision? Dive into our RareForm update and pitch recap to find out if they snagged a deal.
If you’re short on time, here’s a quick overview of what happened to RareForm after
Alex and Aric entered
In terms of a RareForm update, the company’s online orders increased by 50% over the weekend after its airing. Additionally, RareForm expanded its product line and operational capacity with a new facility in Nashville.
| Shark | Result |
| Kevin O’Leary | Accepted offer of $300,000 loan at 8% interest and 10% equity |
| Barbara Corcoran | No offer |
| Mark Cuban | No offer |
| Robert Herjavec | No offer |
| Lori Greiner | No offer |
Shark Tank Rareform Pitch
- Entrepreneurs: Alex and Aric Avedissian
- Business: Bags and backpacks made out of recycled billboard vinyl
- Ask: $300,000 for 10% equity
- Result: $300,000 loan at 8% and 10% equity
- Shark: Kevin O’Leary
Alec and his brother Aric opened their pitch by sharing how they turned discarded billboard vinyl into RareForm, a unique brand of eco-friendly bags.
They sought an investment to expand their operations and increase production capacity, hoping to grow their reach in the sustainable fashion market.
Amazon productRareForm makes eco-friendly bags, backpacks, wallets, and accessories from recycled billboard vinyl, offering a fresh take on sustainable fashion.
They sell directly to consumers through their website and Amazon, and their products can also be found in over 500 stores, including REI.
By partnering with billboard companies to collect used vinyl, RareForm turns discarded materials into high-quality products.
After collecting the vinyl, they clean, cut, and transform it into finished bags.
This approach not only keeps tons of vinyl out of landfills but also ensures a consistent supply of materials.
RareForm appeals to eco-conscious consumers who care about quality and sustainability.
They hand out samples to the sharks—made from an actual
They also have exclusive contracts with two major California billboard companies, which supply them with materials for free.
Each surfboard bag costs $12 to make, while they wholesale it for $40 and retail it for $80.
They emphasize that the story behind each bag drives sales, yet they still need quality displays to succeed in stores.
So far, they’ve reached $1.1 million in lifetime sales, including $700,000 from the past year alone.
However, despite this growth, they faced a $130,000 loss in the previous year.
As for ownership, the brothers control 40% of the company, with the remaining shares held by other investors.
Barbara Corcoran says they have too many investors, and she’s the first shark out.
Mark Cuban said they would need significant growth for him to get his money back. He’s out.
Lori Greiner doesn’t like the lack of uniformity, and she’s out.
Robert Herjavec doesn’t like the valuation. He’s out.
With four sharks out in quick succession, it was up to Kevin O’Leary to save RareForm.
Kevin O’Leary offered $300,000 as a 36-month loan at 8% interest for 10% equity.
Alex and Aric tried to counter for a straight equity deal, but Kevin explained that the only way this would happen was if he got 40% equity in RareForm.
In the end, Alec and Aric accepted Kevin’s debt deal.
Did the entrepreneurs make the right decision to settle for a loan? Find out in our RareForm bags update.
Shark Tank RareForm Update
Our RareForm update found that the deal with Kevin O’Leary closed successfully. Moreover, shortly after its episode aired, the company received an immediate boost.
Just in the weekend following their episode, online orders shot up to 50% of their total online business from the previous year.
Building on this momentum, the company projected annual revenues to reach $5 million.
Originally focused on surfboard bags, RareForm soon expanded its product line to include backpacks, duffel bags, wallets, tote bags, cooler bags, and accessories.
Additionally, To support this growth, the company added a second facility in Nashville, ensuring they could keep up with demand and streamline operations.
Our RareForm update research found that the company formed partnerships with major billboard companies, allowing them to recycle 80% of billboard material across the U.S.
Furthermore, they repurposed around 20,000 pounds of vinyl each month, preventing it from ending up in landfills and staying true to their sustainability goals.
We can’t wait for another exciting RareForm update.
For other company updates from
Before you go, be sure to check out our list of all the Shark Tank Season 8 products.
Kimberly is a writer for Shark Tank Recap. She has written episode summaries and updates across multiple seasons of Shark Tank, with a focus on complete and accurate information since 2021. She believes that getting the business aspects of each deal correct is extremely important for viewers and fans. Her favorite Shark Tank products are The Wobbles and Rocketbook!