A pretty solid net worth — life after Shark Tank

Boating is fun, but it can get you wet and cold. Pretty Rugged’s waterproof, windproof, and stylish blankets protect you from the elements. The company was founded by Tracy Slocum, who appeared on Shark Tank and struck a deal with Lori and Robert. As of 2024, Pretty Rugged has a market cap of $2 million.

Tracy Slocum’s Background

Tracy Slocum comes from a family of sailors in Latham, N.Y. Her great-great-grandfather was Captain Joshua Slocum, the first person to sail around the world solo!

She loved boating because it was in her family genes and studied psychology at Le Moyne College. After graduating in 1996, she wanted to start her own business.

The serial entrepreneur already owns two successful businesses. Her first startup, J. Slocum, produced a clothing line, and she owns an award-winning specialty food store in Albany.

Founding Pretty Rugged

Despite her busy life, Tracy still found time to go boating on Lake George. But she didn’t like coming home wet and cold. To solve this problem, she tried to create a blanket that was both practical and stylish.

She noticed that her great-great-grandfather would wrap himself in fur blankets when he went on long journeys. Tracy consulted with fashion experts and designed luxurious faux fur blankets that were waterproof and windproof. And unlike many fur garments, these blankets are washable.

Pretty Rugged officially launched in 2017. Soon thereafter, the company received endorsements from NY NOW and Oprah Winfrey. After five years in business, she has sold more than 30,000 units.

Appeared on Shark Tank

A big fan of Shark Tank, Tracy initially applied for Season 13 but didn’t hear back. With the new season approaching, a Shark Tank producer convinced her to apply again, and this time she was accepted! The savvy entrepreneur pitched her business on Season 14, Episode 5, when Emma Greider replaced Barbara as a guest on Shark Tank.

After Shark Tank

The 50-year-old woman said that pitching her business to Sharks was one of the most challenging moments of her life. In one week, the publicity from Shark Tank helped her achieve hundreds of thousands in sales, according to BizJournals.com. Tracy also invested in new equipment to keep up with the demand. As of October 2022, the deal has not closed, but is close.

She saw another surge in orders in January 2023, when her series was re-airing. Luckily, ABC gave her advance notice. As a result, Slocum had to rent more space from her landlord and now has 10,000 square feet in two locations.

You can only buy her products on Amazon and their website, PrettyRuggedShop.com. But after Shark Tank, those distribution channels may expand. Some faux fur blankets retail for $290! Pretty Rugged is now available in over 1,000 stores, but it looks like the deal with Lori and Robert isn’t done yet.

Many of their blankets have 5-star reviews on their website. In addition to blankets, they also sell luxury coats, vests, and bags. Their product line is expected to grow in the coming years as the company’s value increases. Currently, Pretty Rugged is valued at $2 million.

Categories: Shark Tank
Source: dut.edu.vn