Tough Ties Shark Tank Update

Introducing Tough Ties: A Blend of Style, Durability, and Practicality

Tough Ties, a brainchild of Kevin Shoemaker and Skylar Bennett, emerged as a unique solution for individuals valuing both style and practicality.

Tough Ties are rugged yet stylish accessories designed for the modern man. Offering a range of tie styles, from floral to professional, Tough Ties provides versatility for any occasion.

With a variety of colors and widths available, these ties are crafted to withstand the demands of daily life while adding a touch of sophistication to your outfit. Tough Ties embrace both durability and style without sacrificing style.

The founders of Tough Ties, Skylar Bennett and Kevin Shoemaker, were real estate brokers who had difficulties keeping tie quality while juggling parenthood. They conceptualized Tough Ties to address these concerns.

Tough Ties are constructed to last, are resistant to wear, and are designed to reduce common staining issues associated with traditional ties.

Introducing Tough Ties: A Blend of Style, Durability, and Practicality

Tough Ties are machine washable and liquid-repellent, which makes maintenance significantly easier.

The innovative liquid-repellent feature minimizes staining chances, while the inclusion of a microfiber tip for cleaning glasses enhances the ties’ utility.

Priced reasonably at $30 for a standard tie and $50 for a custom tie with an additional $20 set-up cost, Tough Ties cater to those who value quality and affordability.

Initially focusing solely on ties, the business has expanded its product range to include socks, belts, face masks, dresses, and casual shirts under the rebranded name Tough Apparel since July 2021.

This evolution showcases innovation in a traditional product space, offering a perfect blend of style, durability, practicality, and affordability.

Tough Ties are ideal for professionals, parents, or anyone valuing convenience while maintaining a polished appearance without the hassle of high-maintenance clothing items.

The founders’ dedication to creating durable, stain-resistant, and machine-washable neckties has resulted in a product that withstands spills, tugs, and machine washing while retaining its shape and color.

Designed with an internal structure enabling them to bounce back to their original shape, these ties are crafted from high-quality materials like microfiber and silk, available in various colors and patterns to suit diverse tastes and occasions.

Tough Ties offers a stylish and durable alternative to traditional neckties for work, formal events, or everyday wear, striving to provide a practical solution for regular tie wearers frustrated with easily damaged or stained ties.

Tough Ties on Shark Tank: Durable Creations by Kevin Shoemaker and Skylar Bennett

Entrepreneurs Kevin Shoemaker and Skylar Bennett introduced Tough Ties, a line of kid- and life-proof ties. They appeared on Shark Tank seeking an investment of $100,000 for a 15% equity in Tough Ties.

Tough Ties, meticulously crafted by Kevin Shoemaker and Skylar Bennett, boast complete customizability and in-house printing. These ties undergo five stitches to enhance durability and are water-resistant, making them fully machine washable.

The duo, formerly working in commercial real estate, recognized the challenge of maintaining ties in good condition.

Tough Ties was born from the need to create products that could withstand the antics of children after numerous ties were ruined.

Tough Ties on Shark Tank: Durable Creations by Kevin Shoemaker and Skylar Bennett

Kevin and Skylar gave up their jobs two years ago to fully devote themselves to the business, and they’re still struggling to make it profitable.

They are grateful for their supportive wives, who work full-time while they grow the business. They share six children.

Despite reaching year-to-date sales of around $450,000 during filming, the company faced profitability challenges due to high customer acquisition costs. The previous year’s sales were $208,000.

In the current year, sales have already hit $200,000, with a projected year-end target of $400,000, mainly driven through their Tough Tie website.

Their premium U.S.-made tie costs $15 to produce and retails for $45. However, Robert Herjavec’s interest in their profitability for the current year revealed that out of the $400,000 in sales, they expect only a $40,000 profit.

This is attributed to significant spending on monthly paid advertising, amounting to $10,000, which yields a 200% return.

In terms of financial investment, the duo injected $43,000 of their funds and carried approximately $150,000 in debt. They even sold their homes to support the business.

In the pitch session, Mark Cuban exited due to a perceived lack of differentiation between Tough Ties and regular ties.

Daymond John followed suit, finding the product too niche with limited offerings. Lori Greiner bowed out as ties weren’t her area of interest.

Kevin O’Leary questioned the profitability path and subsequently exited, leaving Robert Herjavec as the sole investor, offering $100,000 for a 35% equity share.

After negotiations for a lower stake failed, Kevin and Skylar accepted Robert’s initial proposal.

After their appearance on Shark Tank, Tough Ties experienced a significant shift in their business journey.

Although they did not finalize a deal with Robert Herjavec, the exposure from the show resulted in a notable increase in Tough Ties’ popularity.

This surge in visibility translated into higher website traffic and increased customer interest, positively impacting their sales.

Kevin Shoemaker and Skylar Bennett, the company’s founders, rebranded their company in July 2021 as “Tough Apparel” after recognizing the potential for growth.

This rebranding marked a new chapter for the company, allowing them to diversify their product offerings and expand their market reach.

Navigating Success After Shark Tank: The Evolution of Tough Ties into Tough Apparel

In addition to their flagship product, Tough Ties, Tough Apparel introduced a wider range of items such as socks, ratchet belts, casual shirts, and dresses.

This expansion signaled their ambition to establish a presence beyond just ties and to position themselves as a versatile and innovative player in the clothing industry.

By 2022, Tough Apparel was estimated to be generating $4 million in annual revenue, showcasing the resilience and adaptability of the founders.

Kevin and Skylar transformed Tough Ties into a thriving business, demonstrating that a unique product concept and persistent effort can lead to success.

The company’s growth trajectory remained strong, with its offerings evolving to include a broader range of men’s fashion accessories like bowties, shirts, and more.

The company’s strong presence on social media platforms like Instagram, boasting over 35,000 followers, further underscored its ongoing success and popularity.

Through these platforms, Tough Apparel engaged with customers, shared updates on new products, and showcased their unique offerings, solidifying their position in the competitive digital landscape.

Despite the initial setback on Shark Tank, Tough Apparel’s ability to adapt and thrive post-show is a testament to their resilience and commitment to innovation.

The company’s journey from Tough Ties to Tough Apparel exemplifies how strategic decisions, product diversification, and a customer-centric approach can drive success in the ever-evolving world of fashion and retail.

Tough Ties, aka Tough Apparel, is still in business and thriving, with an estimated net worth of $3 million.