RareForm is a business that creates sustainable bags and accessories using recycled billboard vinyl. The concept originated from siblings Alec and Aric Avedissian. They observed numerous billboard vinyl materials accumulating in dumps. This posed an issue as vinyl waste negatively impacts the environment. Alec and Aric aimed to resolve this. They founded RareForm to transform this waste into a valuable resource.
They created sturdy bags and accessories from recycled vinyl. These items are distinctive and environmentally friendly. They aimed to expand their company and connect with a larger audience. That’s when they chose to present their concept on Shark Tank. Alec and Aric aimed to receive $300,000 in exchange for 10% of their company. Will the entrepreneur get a deal on Shark Tank? Check out the Rareform update to find out!
Rareform Net Worth Shark Tank Update 2025
Alec and Aric Avedissian asked for a $300,000 investment in exchange for 10% equity in their company. This meant they valued their company at $3 million. They made a deal with Kevin O’Leary for $300,000 as a loan with 8% interest in exchange for 10% equity. This deal maintained the company’s valuation at $3 million. After the show aired, RareForm saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current valuation of RareForm would be approximately $4.83 million.
Following RareForm’s presentation on Shark Tank, the business received a significant lift. The agreement with Kevin O’Leary was finalized. He provided them a loan of $300,000 at an 8% interest rate for a 10% equity stake. This assisted them in growing even further. Following the episode’s broadcast RareForm experienced a 50% rise in online purchases.
This increase in sales enabled them to broaden their activities. They launched a new facility in Nashville to meet the demand. The product range of the company also expanded. They began producing items beyond just surfboard bags. They started selling backpacks, duffle bags, wallets, and additional items. They remained committed to their goal of utilizing recycled vinyl in their products.
By 2024 the firm had achieved significant advancements. They repurposed around 20,000 pounds of vinyl each month. RareForm was thriving and broadening its influence. It has gained popularity as a brand among environmentally aware consumers.
Yes RareForm got a deal on Shark Tank. They asked for $300,000 in exchange for 10% of the company. Kevin O’Leary made an offer. He agreed to give them the $300,000 as a loan. But the deal included 8% interest and 10% equity. Alec and Aric tried to negotiate for a straight equity deal. But Kevin explained that if they wanted equity without the loan he would need 40% of the company.
Alec and Aric decided to accept the loan deal. It was a great offer at the time. Kevin O’Leary’s investment helped RareForm grow quickly and expand.
| Shark(s) Name | Offer & Demand | Counter Offer | Accepted? |
| Lori Greiner | Out | N/A | N/A |
| Barbara Corcoran | Out | N/A | N/A |
| Kevin O’Leary | $300,000 for 10% equity | N/A | Yes |
| Mark Cuban | Out | N/A | N/A |
| Robert Herjavec | Out | N/A | N/A |
Rareform Shark Tank pitch
Alec and Aric Avedissian were motivated to establish RareForm after observing the significant amount of billboard vinyl that went to waste. They discovered that billboard vinyl was accumulating in landfills and damaging the environment. Alec and Aric realized they had to discover an answer. They aimed to utilize this waste material to manufacture something innovative.
The concept of RareForm emerged from this necessity. They chose to transform discarded billboard vinyl into bags and other accessories. This concept was both creative and environmentally friendly. It was a means to benefit the environment and create something beneficial from waste.
In the initial phases, the siblings encountered numerous difficulties. They needed to discover a method to gather the vinyl and transform it into premium products. They also had to develop a brand that would attract customers. The business began modestly, offering only a handful of items. They had to determine how to clean, cut, and change the vinyl into bags. The procedure was challenging.
They needed to ensure the bags were both sturdy and fashionable. The siblings put in great effort to create the product. They also had to arrange agreements with billboard companies to obtain the vinyl. It was hard, yet they never quit. Their commitment was rewarded when they began receiving recognition for their environmentally friendly products.
Alec and Aric began their presentation by recounting their story to the Sharks. They described the process of transforming billboard vinyl into bags and accessories. They informed the Sharks that they were seeking $300,000 for a 10% stake in their business. The brothers presented the Sharks with samples of their goods. These bags were crafted from real billboard vinyl, featuring one made from a Shark Tank advertisement.
The Sharks found the distinctive materials utilized to create the bags impressive. Alec and Aric stated that they held exclusive agreements with two leading billboard firms. These agreements enabled them to obtain the vinyl at no cost.
The siblings additionally revealed their business strategy. They described the expenses involved in producing each surfboard bag and the selling price. The production cost of each surfboard bag is $12. They sold it at a price of $80. The retail cost was $80 whereas they sold the bag at a wholesale price of $40. They stated that the narrative behind every bag was what contributed to boosting sales.
The siblings also noted that they had achieved $1.1 million in total sales. Nevertheless, they incurred a loss of $130,000 in the year prior. This was an obstacle that they needed to conquer. Even with the setback they believed that their business had the potential to expand. They required the funding to assist in broadening their operations.
The Sharks posed numerous inquiries regarding RareForm’s products. They were curious about the production cost of the bags and the company’s profits. Alec and Aric outlined the expense details. Every surfboard bag required $12 to produce and they retail for $80. The price in retail was elevated due to the bags being crafted from recycled vinyl.
The Sharks inquired about the availability of billboard vinyl. Alec and Aric stated that they held exclusive agreements with two leading billboard firms. These businesses offered the vinyl at no cost. This indicated that RareForm had a consistent source of materials. The Sharks were interested in the company’s plans for growth.
Alec and Aric expressed their desire to boost production and connect with more clients. They aimed to broaden their product range and distribute their products to additional stores.
The Sharks were likewise interested in the company’s finances. Alec and Aric revealed that they had achieved $1.1 million in total sales over their lifetime. Nonetheless the business experienced a loss of $130,000 in the prior year. This raised a warning sign for certain Sharks. They were curious about the company’s strategy for generating a profit. Alec and Aric stated they required the investment for support with marketing and production.
The Sharks were also interested in understanding the competition within the market. Alec and Aric stated that their items were distinctive as they incorporated recycled vinyl. This distinguished them from other environmentally friendly brands. They additionally noted that they aimed at an expanding market of environmentally aware customers.
The Sharks reacted in various ways to the proposal. Barbara Corcoran was the initial one to leave. She believed that RareForm had an excessive number of investors already. Mark Cuban likewise withdrew. He mentioned that the firm would require considerable expansion for him to recoup his investment. Lori Greiner was also out due to her disapproval of the inconsistency in the products.
Robert Herjavec was not fond of the company’s valuation and chose to decline. With four Sharks absent the decision to make an offer fell to Kevin O’Leary.
Kevin O’Leary recognized the potential in the company. He appreciated the concept of utilizing recycled materials for the items. Nevertheless, he aimed to shield himself from danger. Kevin proposed a deal. He would provide RareForm with a loan of $300,000 at an interest rate of 8%. In return,n he desired 10% ownership in the business. Alec and Aric attempted to negotiate a direct equity agreement.
However Kevin clarified that if they sought equity without taking out a loan he would require 40% ownership of the company. Alec and Aric consented to the loan agreement. This was a significant choice but it enabled the company to secure the funding they required.
What Went Wrong With Rareform On Shark Tank?
Several reasons existed as to why certain Sharks chose not to make an offer. Initially, Barbara Corcoran believed that RareForm had an excessive number of investors. This made it more difficult for her to understand how she could contribute. Mark Cuban likewise doubted that the company would expand quickly enough to provide him with a satisfactory return on his investment.
Lori Greiner was not fond of the inconsistency in the products. She thought the bags appeared too inconsistent to attract customers. Robert Herjavec disagreed with the valuation of the company. He believed the business wasn’t valued at the price that Alec and Aric demanded.
Product Availability
RareForm’s merchandise can be found on their website as well as on Amazon. They additionally market their products in more than 500 shops such as REI. The company’s range of products features backpacks, duffel bags, wallets, tote bags and cooler bags. These items are crafted from repurposed billboard vinyl providing them with a distinctive and environmentally friendly charm.
The bags are sturdy and fashionable which makes them favored by eco-conscious consumers. The company additionally provides accessories crafted from identical materials. RareForm has broadened its range of products to cater to various customer demands. The bags come in various price ranges, with certain products priced at just $40. The business keeps evolving and broadening its influence.
Conclusion
RareForm’s journey on Shark Tank was a success. Alec and Aric got the investment they needed from Kevin O’Leary. The company’s sales grew after the episode aired. RareForm expanded its product line and operations. They now have a strong presence in the eco-friendly fashion market. The company’s mission to reduce waste and create sustainable products is resonating with customers.
Hey there, I’m Fatima Muhammad, an International Relations student, with a focus on the strategic dynamics of global relations, One of my favorite shows is Shark Tank. I love it because it showcases the creativity, determination, and strategic thinking of entrepreneurs, which I find inspiring. The show also teaches valuable lessons about innovation, business dynamics, and the importance of perseverance in the face of challenges. Read more About me.
