Everyone loves to enjoy chilly weather while sitting outside. But your attire and clothing get wet with the cold weather. This will ruin your mood and can get you sick. Any enjoyable experience in cold weather will turn you in the hospital for catching a cold. But not now. Pretty Rugged is here to save you.
Pretty Rugged is a company that produces fur coats and garments for its customers. They are waterproof and wind-resistant on one side. While the other side is covered with soft and cozy fur. It is available in lifestyle attire as well. Cape, coats, jackets, and blankets are on the list. Entrepreneur Tracy Slocum has created this jacket inspired by her great-great-great-grandfather, Joshua Slocum.
The pitch was great and sales were impressive. She demands for $200,000 for 10% equity. The product and idea were liked by all the Sharks. However, the company was dealing with mismanagement and supply chain issues. Will any Shark jump in to save her? Let’s find out.
Pretty Rugged Net Worth 2024
Tracy Slocum asked for a $200k investment in exchange for 10% equity in her company. This meant she valued her company at $2 million. She made a deal with Robert and Lori for $200k in exchange for 25% equity. This new deal valued her company at $800,000. After the show aired, Pretty Rugged saw a significant increase in sales. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Pretty Rugged in 2024 is about $1.1 million.
Pretty Rugged Shark Tank Update
After the episode was aired, the sales skyrocketed and they earned thousands of dollars. Customers flooded comments with kind comforting words as they stated that their blanket is no.1 blanket.
Yes, Pretty Rugged got a deal with Robert and Lori for $200,000 for 25% equity
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Emma Grede | N/A | N/A | No |
| Kevin O’Leary | Out | N/A | No |
| Robert Herjavac+Lori Greiner | $200,000 for 25% equity | $200,000 for 20% equity | Yes |
| Mark Cuban | N/A | N/A | No |
Pretty Rugged Shark Tank Pitch
Tracy Slocum was the great-great-great-graddauther of Captain Joshua Slocum. He was one of the first people who traveled around the world. She wanted to continue his legacy so she designed her lifestyle clothing brand, Pretty Rugged.
Tracy introduced herself and her company, Pretty Rugged. She demands $200,000 for 10% equity. He stated that her great-great-grandfather, Captain Joshua Slocum was the first man to sail around the globe alone. She made a blanket in his memory as he used to travel around the globe.
The blanket is water-resistant and wind-resistant on one side. While the other side is fluffy and soft. She then crafted an entire lifestyle brand with these features. The brand provides style and luxury at the same time. She introduced the attire with comfort and warmth. She concluded the pitch by asking Sharks to join her journey.
Mark stated that it was pretty cool that he went around the world. Tracy mentioned that he had lost his love of life at the age of 51 and lost all hopes in life. He built his boat in 13 months and he had great vision. She started the brand at the age of 43. Mark inquired when was it. She replied it was back in 2017. Lori asked if she could open the samples. Tracy answered yes cheerfully.
Shark liked the product as it was soft and cozy. As they tried the product, they liked it more. She stated that she created the blanket line in 2017 and then she attended the NY Now show. Then she won the Best Product award in 2018 along with being featured as Oprah’s Favorite Things the same year. This amazed the Sharks.
She mentioned that her husband had a great loss in business due to floods. So she crafted Pretty Rugged to same like her great-great-great-grandfather. That’s why she is looking for a strategic partner that can help her grow. Robert inquired about the cost of the blanket. She replied that it cost $290. He then inquired about the cost of Emma’s cape. She replied that it was $220.
Emma inquired about the cost to manufacture both blanket and cape. Tracy mentioned that the blanket cost from $36 to $40 as she had great margins. Sharks like good margins. Her margins are huge as they are 70% in wholesale. She has sold more than 30,000 units and her lifetime sales are $3 million. Lori inquired about their sales last year. She replied that last year they made $119,700 in sales.
Robert inquired about the profits from it. She replied that she made $32,000. This shocked the Sharks. Robert inquired about the reason. She mentioned that she spent on trade shows and a purchase order came in late. Robert inquired about the cost spent on the trade shows. She mentioned that she spent $180,000 last year. She continued further as she said that there were more than 20 trade shows this year.
There also have been supply chain issues as she ran out of stock previously stock. So she decided to get a purchase order of $400,000 with 25% tariff rates from China which was $60,000.
Kevin was the first Shark to step out as he found it poorly evaluated and had no space for an investor. Emma quit as she estimated that the fur fashion is going down in world’s globe so wouldn’t invest in it. Mark likes the product but he considers himself a no-help for her. So he stepped out.
Lori inquired about her sales and profits this year. She mentioned that her booked sales are $715,000 excluding pre-orders. As per P&L(profit & loss), she is currently on -250,000 in dollars. Mark asked Tracy to explain it. She stated that she had done 4 trade shows last year and 20 shows this year. Lori inquired about her cost son trade shows. Tracy answered that it costs $15,000 to $30,000.
Emma stated that something is not right here. Margin and sales are good. Tracy helplessly mentioned that she is not doing everything correctly and she does that. What wants a partner to help her out? Lori and Robert jumped in to help her out. Robert wanted to help them recover from her mistakes. And Lori loved the product as she saw potential in it. They then made a deal.
They offer $200,000 for 25% equity. Tracy counteroffer 20%. Sharks rejected immediately. So Tracy accepted their deal and she jumped happily.
What Went Wrong with Pretty Rugged on Shark Tank
The pitch was good and sales were in the millions. Sharks liked the product and idea. But they quit due to a lack of interest and the world’s fashion trends. But Lori and Robert jumped in with a joint deal.
Product Availability
Pretty Rugged is a company that provides lifestyle garments and attires made up of fur. Several attires are available in different sizes and colors. You can shop from their website or order it from Amazon. Pre-embroidered and corporate gifting collections are also available. You can their website for further details.
Conclusion
Entrepreneur Tracy Slocum came on Shark Tank Season 14 to carry on her legacy. His company Pretty Rugged produced fur clothing and attire in various colors and sizes to bring comfort. They’re waterproof and wind resistant as they can be washed too. She demands for $200,000 for 10% equity.
The pitch was amazing and sales were in the millions. Sharks loved the product and liked her brand. But quit the deal due to their lack of interest or world fashion trends. But Lori and Robert gave a deal of $200,000 for 25% equity. She counter-offered 20%. But after rejection, she accepted their deal and left cheerfully.
Hello everyone, I’m Sara Javed. I’m an IT professional expert with project management and design skills. Besides writing, I love playing video games, designing digital art, and reading books. I love Shark Tank due to its innovative business idea and unpredicted reactions of Sharks. This keeps me glued to the screens to watch the next catchy moment. Read more About me.
