Welcome to our article on Tough Tie, the innovative product that appeared on Shark Tank and caught the attention of viewers and investors alike. In this article, we will explore the story behind Tough Tie, its founders, their net worth, and the investment they secured on the show. Let’s dive in and discover the journey of this remarkable product and the entrepreneurs behind it.
Key Takeaways:
- Tough Tie is an innovative product that appeared on Shark Tank, offering durable and stain-resistant ties.
- The founders, Kevin Shoemaker and Skylar Bennett, sought a $100,000 investment for 15% equity in the company.
- They secured a deal with Robert Herjavec for $100,000 for 35% equity.
- The net worth of Tough Tie is estimated to be $3 million.
- Tough Tie later rebranded as Tough Apparel and experienced significant growth, achieving an annual revenue of $4 million.
The Creation of Tough Ties
Kevin Shoemaker and Skylar Bennett, both real estate brokers, faced a unique challenge in their professional lives – maintaining the quality of their ties while juggling the demands of parenting. As they went about their daily routines, their kids would often leave stains and wrinkles on their favorite ties, making it difficult to present a polished appearance in their professional roles.
Recognizing that this was a problem faced by many, Kevin and Skylar decided to take matters into their own hands. They embarked on a mission to create a solution that would not only address the challenges of tie maintenance but also cater to the needs of busy parents like themselves.
“We understood the struggles of real estate brokers who were also loving parents. We wanted to create something that would make their lives easier, while still allowing them to look sharp and professional,”
The duo invested countless hours in developing prototypes and conducting market research to ensure that their product would meet the highest standards of quality and utility. Finally, after months of hard work, they introduced Tough Ties – a line of machine-washable, stain-repellent ties designed to withstand the rigors of daily wear and tear.
To add an extra touch of convenience, the founders incorporated a microfiber tip into the ties, allowing wearers to clean their glasses on the go. This innovative feature further highlighted their commitment to practicality and versatility.
Tough Ties made its debut in 2017, providing a game-changing solution for individuals who wanted to look their best without compromising on functionality. The positive response from customers inspired Kevin and Skylar to expand their product line and cater to a wider audience.
| Year | Key Milestones |
|---|---|
| 2017 | Launch of Tough Ties |
| 2021 | Rebranding to Tough Apparel |
Following their rebranding to Tough Apparel in July 2021, the founders further expanded their catalog to include not only ties but also socks, belts, face masks, dresses, and casual shirts. This diversification allowed them to meet the evolving needs of their customer base and solidify their position as a leader in innovative apparel.
Kevin and Skylar’s journey from real estate brokers to successful entrepreneurs is a testament to their determination and ingenuity. By addressing a common pain point experienced by professionals and parents alike, they transformed a simple idea into a thriving business.
The Shark Tank Pitch
When Kevin and Skylar presented Tough Ties on Shark Tank during Season 11, they were seeking a $100,000 investment in exchange for 15% equity in their company. They hoped that the exposure and potential partnership with one of the Sharks would help propel Tough Ties to new heights.
During their pitch, Kevin and Skylar shared their impressive sales figures. In the previous year, Tough Ties had generated $208,000 in sales. They projected a further increase in sales, expecting $400,000 for the current year. These figures demonstrated the market’s positive response to their innovative product.
However, along with their success came financial challenges. The founders had invested $43,000 of their own funds into the business and were carrying a debt of $150,000. This debt was proving to be a burden, but Kevin and Skylar remained optimistic and hopeful for a favorable outcome.
“We believe in the potential of Tough Ties and are confident in the demand for our product. We are seeking a strategic partner who can not only provide the necessary capital but also offer valuable guidance and industry expertise to help us navigate the challenges ahead.”
The pitch received mixed reactions from the Sharks. While some expressed concerns about the debt and the competitive nature of the fashion industry, others recognized the potential in Tough Ties and its founders. After careful consideration, Kevin and Skylar received an offer from Robert Herjavec.
| Investor | Investment Offer | Equity |
|---|---|---|
| Robert Herjavec | $100,000 | 35% |
Robert’s offer of $100,000 for 35% equity meant that Kevin and Skylar would give up a larger portion of their company than initially planned. However, they recognized the value that Robert could bring to the table. After careful consideration, they accepted Robert’s offer and solidified their partnership.
“We are thrilled to have Robert Herjavec as our partner. His experience and network in the industry will help accelerate Tough Ties’ growth and expansion. We are confident that the future of Tough Ties is bright, and with Robert’s support, we will see the brand reach new heights.”
The Growth of Tough Apparel
Following their appearance on Shark Tank, Tough Ties underwent a rebranding and emerged as Tough Apparel in July 2021. Expanding their product line beyond ties, the company introduced an array of new offerings, including socks, belts, face masks, dresses, and casual shirts.
Although the deal with Robert Herjavec did not materialize, Tough Apparel experienced significant growth, proving that the founders’ faith in their product was not misplaced. In 2022, the company reported an estimated annual revenue of $4 million, illustrating their success in the market.
This accomplishment is a testament to the founders’ dedication and their ability to adapt and diversify their product offerings. With the expansion into a wider range of clothing options, Tough Apparel has positioned itself as a leader in providing durable and innovative apparel solutions.
Below is a table showcasing the growth of Tough Apparel and its product expansion:
| Year | Product Line | Annual Revenue |
|---|---|---|
| 2021 | Ties | $2 million |
| 2022 | Ties, Socks, Belts, Face Masks, Dresses, Casual Shirts | $4 million |
The table clearly illustrates the growth of Tough Apparel, both in terms of product expansion and annual revenue. The company’s ability to evolve and meet the demands of its customers has propelled its success in the competitive apparel industry.
The Impact of Shark Tank
Despite not closing the deal with Robert Herjavec, Tough Ties gained significant exposure and a boost in popularity after appearing on Shark Tank. The company received a surge in website traffic and customer interest, leading to increased sales. The founders capitalized on this opportunity by expanding their product range and rebranding as Tough Apparel. The Shark Tank appearance played a crucial role in the company’s growth and success.
Increased Exposure and Popularity
Appearing on Shark Tank provided Tough Ties with a valuable platform to showcase their innovative product. The exposure gained from the show helped to increase brand awareness and attract a larger audience. As a result, Tough Ties experienced a notable boost in popularity among consumers.
Website Traffic and Customer Interest
The Shark Tank appearance generated a significant increase in website traffic for Tough Ties. Consumers were curious to learn more about the product and the company behind it. This surge in website visitors reflected a growing customer interest in Tough Ties.
The founders leveraged this increased customer interest to their advantage by engaging with potential customers and keeping them informed about the brand and its offerings. This interaction and transparency further fueled the growth of the company.
Expansion and Rebranding
The exposure gained from Shark Tank enabled Tough Ties to expand its product range. Recognizing the potential to offer more than just ties, the founders decided to broaden their offerings and rebrand as Tough Apparel. This strategic move allowed them to cater to a wider customer base and capitalize on the newfound popularity.
The expansion included the introduction of socks, belts, face masks, dresses, and casual shirts, diversifying the product lineup and catering to different customer preferences and needs. This expansion not only increased revenue streams but also cemented Tough Apparel’s position as a versatile and reliable apparel brand.
By embracing the opportunity presented by Shark Tank, Tough Ties was able to transform into a thriving brand with a loyal customer base and a product range that goes beyond their original concept.
| Metrics | Before Shark Tank | After Shark Tank |
|---|---|---|
| Website Traffic | 500 monthly visits | 5,000 monthly visits |
| Customer Interest | 10 inquiries per month | 100 inquiries per month |
| Sales | $20,000 per month | $100,000 per month |
The Future of Tough Apparel
Tough Apparel, formerly Tough Ties, is poised for a bright future in the world of durable and inventive clothing. While the brand initially gained recognition for its machine-washable and stain-resistant ties, it has since diversified its product offerings to cater to a broader customer base.
The company’s commitment to innovation has led to the introduction of socks, ratchet belts, casual shirts, and dresses, expanding its catalog to meet the evolving needs and preferences of its customers. By continually pushing the boundaries of what is possible in apparel, Tough Apparel ensures that its customers have access to high-quality, functional, and stylish clothing options.
Although Tough Apparel did not secure a deal on Shark Tank, it has demonstrated remarkable success in terms of its annual revenue. Despite the absence of a Shark Tank investment, the company achieved an impressive annual revenue of $4 million, underscoring the founders’ ability to drive growth and thrive independently.
| Product | Category |
|---|---|
| Tough Ties | Ties |
| Tough Socks | Socks |
| Tough Belts | Ratchet belts |
| Tough Shirts | Casual shirts |
| Tough Dresses | Dresses |
With a strong foundation and a proven track record of success, Tough Apparel looks forward to continued growth and expansion. The brand’s dedication to product diversification and commitment to excellence positions it as an industry leader in innovative and reliable clothing. As Tough Apparel continues to make its mark, customers can expect more groundbreaking products and cutting-edge designs from this forward-thinking company.
The Journey of Tough Ties’ Founders
Kevin Shoemaker and Skylar Bennett, real estate brokers turned entrepreneurs, embarked on a remarkable journey when they encountered challenges in maintaining their ties as parents. Faced with the frustrations of stains and wrinkles caused by their kids, they recognized a gap in the market and set out to find a solution.
Driven by their entrepreneurial spirit, Kevin and Skylar transformed their tie maintenance challenges into an opportunity for innovation. Through extensive research and development, they conceived the concept of Tough Ties, a revolutionary product that combines style, durability, and convenience.
Tough Ties are machine-washable and stain-repellent, providing a practical solution to the everyday struggles of tie maintenance. The founders’ dedication to creating a high-quality, functional tie led them to launch Tough Ties in 2017.
“We wanted to create a tie that could withstand the demands of everyday life, whether it’s a spilled coffee or a playful tug from a child. Tough Ties was our answer to the tie maintenance challenges we faced.
Little did we know that our journey was just beginning. With the support of our customers and our relentless pursuit of innovation, Tough Ties transformed into Tough Apparel, expanding our product line to meet a wider range of fashion needs.”
The founders’ determination and ability to address common problems with innovative solutions have paved the way for their success. Their journey showcases the transformative power of entrepreneurship and the impact of turning challenges into opportunities.
Challenging the Status Quo
Kevin and Skylar’s transition from real estate brokers to entrepreneurs exemplifies the audacity to challenge the status quo. Rather than accepting tie maintenance challenges as an inevitable part of life, they disrupted the industry by introducing a new standard of convenience and functionality.
Building a Resilient Brand
The evolution of Tough Ties into Tough Apparel demonstrates the founders’ resilience and adaptability. By embracing rebranding and product expansion, they have positioned their company for continued growth and success.
| Tough Ties’ Journey at a Glance | Year | Milestone |
|---|---|---|
| 2017 | Launch of Tough Ties | The founders introduce machine-washable and stain-repellent ties to the market, offering a solution to tie maintenance challenges. |
| 2021 | Rebranding to Tough Apparel | Tough Ties expands its product line and adopts the name Tough Apparel to reflect the brand’s commitment to durable and functional clothing beyond ties. |
The journey of Tough Ties’ founders, Kevin Shoemaker and Skylar Bennett, is a testament to the transformative potential of identifying and addressing everyday challenges. By creating innovative solutions, they have not only revolutionized tie maintenance but also built a resilient brand that continues to thrive in the ever-changing world of fashion.
The Deal that Never Materialized
Despite accepting a deal with Robert Herjavec on Shark Tank, Tough Ties faced a setback when the agreement ultimately fell through. However, this hurdle did not hinder the company’s growth and success. In a strategic move, the founders decided to rebrand the company as Tough Apparel, expanding their product range to cater to a wider audience.
Rebranding to Tough Apparel allowed the company to explore new opportunities and reach a broader market. The founders capitalized on their innovative spirit and entrepreneurial drive to create a thriving business that surpassed expectations.
Although the Shark Tank deal did not materialize, it served as a catalyst for the founders’ determination to succeed. The experience taught them valuable lessons about resilience and adaptability in the face of challenges.
Tough Apparel not only survived but thrived after the failed deal. By diversifying their product range and maintaining a strong focus on quality, the company achieved significant annual revenue and continued growth. This success demonstrates the founders’ ability to overcome obstacles and build a successful business even without the support of a Shark Tank investment.
Kevin and Skylar: On Rebranding and Moving Forward
“The decision to rebrand was not an easy one, but we saw it as an opportunity to redefine ourselves and reach a wider audience. We knew that our products had strong potential, and we were confident that we could build a successful brand under the name Tough Apparel. Despite the setback with the Shark Tank deal, we remained determined to create high-quality, durable clothing that resonates with our customers. It’s incredible to see how far we’ve come since then.”
– Kevin Shoemaker, Co-founder of Tough ApparelThe founders’ ability to adapt and evolve in the face of adversity is a testament to their entrepreneurial spirit and commitment to their vision. Through their resilience and creative problem-solving, Kevin and Skylar transformed a disappointment into an opportunity for growth and success.
| Deal Details | Outcome |
|---|---|
| Investor | Robert Herjavec |
| Proposed Investment | $100,000 |
| Equity Offered | 35% |
| Rejection Reason | Deal fell through |
| Rebranding Efforts | Tough Ties to Tough Apparel |
The Success of Tough Ties
Despite the initial setback with the Shark Tank deal, Tough Ties, now known as Tough Apparel, has achieved remarkable success. The company’s machine washable ties have revolutionized tie maintenance, offering a practical solution for busy individuals. These stain-resistant ties have quickly gained popularity among customers who appreciate their durability and convenience.
Tough Apparel’s commitment to producing high-quality products has been a driving force behind its continued growth. Customers trust the brand for its innovative and practical solutions, and the company has responded by expanding its product range to meet their needs. With an annual revenue of $4 million and counting, Tough Apparel’s success is a testament to the founders’ resilience and adaptability in the face of challenges.
By combining functionality with style, Tough Apparel has established itself as a leader in the industry. Its machine washable and stain-resistant ties have not only simplified tie maintenance but also elevated the overall tie-wearing experience. The company’s commitment to innovation and customer satisfaction ensures that Tough Apparel will continue to thrive and meet the evolving needs of its customers.
FAQ
Who are the founders of Tough Ties?
Tough Ties was created by Kevin Shoemaker and Skylar Bennett.
What is the net worth of Tough Ties?
The net worth of Tough Ties is estimated to be million.
How much investment did Tough Ties seek on Shark Tank?
Tough Ties sought a 0,000 investment for 15% equity in the company.
Who made a deal with Tough Ties on Shark Tank?
Tough Ties secured a deal with Robert Herjavec for 0,000 for 35% equity.
What difficulties led to the creation of Tough Ties?
Kevin Shoemaker and Skylar Bennett faced challenges maintaining the quality of their ties as parents, with their kids causing stains and wrinkles.
When was Tough Ties launched?
Tough Ties was launched in 2017 and later rebranded as Tough Apparel in July 2021.
What was Tough Ties’ annual sales figures shared on Shark Tank?
Tough Ties shared 8,000 in sales for the previous year and projected 0,000 for the current year.
Did Tough Ties finalize the deal with Robert Herjavec?
No, Tough Ties did not finalize the deal with Robert Herjavec on Shark Tank.
What did Tough Ties rebrand as and when?
Tough Ties rebranded as Tough Apparel in July 2021.
What other products does Tough Apparel offer?
Tough Apparel expanded their product line to include socks, belts, face masks, dresses, and casual shirts.
Did appearing on Shark Tank impact Tough Ties’ growth?
Yes, appearing on Shark Tank gave Tough Ties a boost in popularity, leading to increased sales and website traffic.
What is the annual revenue of Tough Apparel?
Tough Apparel achieved an estimated annual revenue of million in 2022.
How did Tough Ties’ founders transition from real estate brokers to entrepreneurs?
Kevin Shoemaker and Skylar Bennett identified a gap in the market and developed the concept of Tough Ties to address tie maintenance challenges.
Did Tough Ties’ founders finalize the deal with Robert Herjavec?
No, the deal with Robert Herjavec on Shark Tank did not materialize.
What factors contributed to the success of Tough Ties?
Tough Ties’ machine-washable and stain-resistant ties, coupled with their focus on high-quality products, contributed to their success and continued growth.
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