Pretty Rugged Shark Tank Update (Season 14)

Pretty Rugged is a luxury brand that utilizes RuggedTex and SatinTex technology to create windproof, waterproof, and washable blankets, outerwear, and various other products. The brand offers a diverse range of items, including blankets, corporate gifts, boating accessories, luxury faux fur products, and outerwear, with the aim of enhancing the luxury of everyday life.

Their original blanket and TS Luxe blanket measure 50″ x 70″ (approximately 4′ x 6′). The company also provides personalized custom name-design blankets and outerwear products, including options for corporate events, names and dates, pets, boating, outerwear, and weddings.

In the outerwear category, Pretty Rugged features several products, such as the TS Luxe Cardigan, TS Luxe Poncho, The Blakely Bomber, Pretty Puffer Vest, The Collins Capelet, a 3-in-1 Shawl, and The TS Vest.

For pricing, the Red Faux Fur Long Lap Blanket costs $150, while the waterproof Pretty Puffer Vest is priced at $210. All their products will be available on Amazon with attractive discounts.

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Who Is The Founder Of Pretty Rugged?

Tracy Slocum is the founder and CEO of Pretty Rugged Company, which she established in 2017 in Latham, New York. After graduating from Le Moyne College in Syracuse, New York, Tracy worked as a pharmaceutical salesperson. She later opened a food store in Albany and founded a clothing line business called “J. Slocum.”

Driven by a long-held desire to become an entrepreneur, Tracy explored various business ventures before launching her successful blanket business, which is currently thriving.

How Was The Shark Tank Pitch Of Pretty Rugged?

Tracy Slocum appeared on Shark Tank seeking $200,000 for 10% equity in her company, Pretty Rugged. During her pitch, Tracy provided detailed information about her business and conducted a product demonstration of her blankets.

The pricing of her blankets varies based on size, shape, and material. While the production cost ranges from $36 to $40, they retail for $200 to $250, resulting in a high profit margin. Tracy’s margins are 80% in the direct-to-consumer model and 70% in wholesale. To date, she has sold 30,000 units, achieving lifetime sales of $3 million. In 2021, her sales totaled $1.97 million, yielding a net profit of $32,000.

Tracy has invested heavily in advertising, spending $180,000 on trade shows last year and participating in nearly 20 shows this year. However, Kevin O’Leary and Emma Grede decided not to invest, as they found the business less appealing.

Mark Cuban expressed interest but felt uncertain about how he could contribute, leading him to decline the investment. At that time, Tracy reported $715,000 in current sales growth.

Ultimately, Lori Greiner and Robert Herjavec teamed up to invest, offering $200,000 for 25% equity at an $800,000 valuation. Tracy countered with a request for 20% equity, but Robert declined.

Finalize: Lori Greiner and Robert Herjavec Invest $200K in ‘Pretty Rugged’ for 25% Equity.

Pretty Rugged Shark Tank Update

Pretty Rugged is a premium lifestyle brand focused on high-quality products designed to provide warmth and dryness. While the retail prices of their products are on the higher end, this is justified by profit margins ranging from 70% to 80%.

For a business to thrive, it typically needs an average profit margin of 25% to 40%. Given that Pretty Rugged exceeds this threshold, its sales performance is commendable. However, reducing the margins slightly could potentially lead to even higher sales volume.

As of October 2022, Pretty Rugged has achieved lifetime sales of $3 million, suggesting that improved marketing strategies could further boost sales figures. Despite these impressive numbers, the company has struggled with profitability, primarily due to significant advertising expenses.

The reception on social media has been largely positive, with many Twitter users praising Tracy Slocum’s inspirational story. Her compelling presentation of Pretty Rugged on Shark Tank resonated well with the sharks, who appreciated the quality of the product, despite its premium pricing.

Before deciding to invest in a business, the sharks thoroughly review its sales data. Lori Greiner and Robert Herjavec found Pretty Rugged to be a worthwhile investment opportunity and chose to invest.

We will continue to follow Tracy Slocum and Pretty Rugged for further updates.

What Is Pretty Rugged Net Worth?

Currently, Pretty Rugged is experiencing strong sales and steady growth. Despite the premium pricing of their products, they continue to attract a significant number of customers.

Based on these factors, it is estimated that the net worth of Pretty Rugged could be around $750,000.

Yes, Pretty Rugged is still in business as of April 2024.