Tough Tie Shark Tank Update

Tough Tie Shark Tank Pitch

Skylar Bennett and Kevin Shoemaker appeared on Shark Tank Season 11, Episode 22, which aired on May 8, 2020, with customizable stain-repellent, machine-washable, stylish line of ties and accessories .

Tough Tie is listed in the Clothing Fashion category. In plain terms, the business is described as customizable stain-repellent, machine-washable, stylish line of ties and accessories .

Tough Tie asked the Sharks for $100,000 for 15%, implying a valuation of about $666,666.667.

On the show, Tough Tie made a listed deal with Robert Herjavec for $100,000 for 35%.

If treated as straight equity, the listed deal works out to about $285,714.286 implied valuation, down from the original $666,666.667 implied valuation.

This pitch is included as context for the more important question: what happened after Shark Tank.

Tough Tie After Shark Tank

Tough Tie accepted an on-air Shark Tank deal for $100,000 for 35%, but follow-up reporting says the deal did not close after filming. (Tough Tie Shark Tank Update

By June, 2022, update sources put Tough Tie annual revenue around $4 million. (Tough Tie Shark Tank Update

As of July, 2021, they added dress and casual shirts, ratchet belts and socks to their line. (Tough Tie Shark Tank Update

Sources

Sources used for this page: Shark Tank API pitches