First into the tank are Florida natives and sisters Rachelle Hyde and Kara Haught of Raising Wild, seeking $100,000 for 20 percent equity.
Raising Wild on Shark Tank Key Takeaways:
Raising Wild Swimsuits: A Quick Overview
Raising Wild offers swimsuits that are made for “fit, fashion and function,” according to their website.
Following in the footsteps of their mother, a seamstress, their mission “is to get everyone out of her beach chair and off her towel and start enjoying Raising her own kind of WILD!! We hope these suits will be the right piece for you to feel like a million bucks!”
They offer swimsuits for both adults and kids, and they are currently running a “Shark Tank” special, marking five swimsuits down to $98 from $138-$156.
With a mission to empower women, particularly mothers, they have a variety of swimsuits to fit all kind of body types. Barbara Corcoran finds it shocking that they couldn’t find a swimsuit that they liked in Florida.
But their high-end swimsuits impress the sharks overall.
They have sold $130,000 with the only marketing coming from social media.
Saying they believe they can go “huge,” Mark Cuban pushes for an actual number. He wants to know how much they would spend on marketing and strategize to sell.
The Sharks React to the Product Pitch
They have never worked formally in the industry. Kevin O’Leary believes there’s nothing to invest in so goes out.
They tease their new products, but Cuban believes that takes it away from their organic growth, which could cause them to drown. He goes out, as does Lori Greiner.
Robert Herjavec doesn’t think a mom-oriented swimsuit is sustainable so goes out as well.
Lastly, after proving that she has an excellent work ethic with her story about her son who has ADHD, Corcoran says the product is too narrow but decides to make an admittedly greedy offer: $100,000 for 51 percent equity, contingent on selling them at $99 and naming the suits after their sisters.
They counter 35 percent, but Corcoran is only willing to go 50-50. Ultimately, they accept.
Social Media Reacts to Raising Wild Swimwear’s Appearance on “Shark Tank”
I don’t know enough about swimsuits to know if Raising Wild is anything. Their suits sure are expensive though… #SharkTank
— Rob McGahen (@rmcgahen) October 8, 2016
Nice pitch ladies, but this seems like a saturated market!! Raising Wild #sharktank
— Hope Bertram (@digimegaphone) October 8, 2016
@ABCSharkTank Uhhh not feeling these swimsuits $138?!?!
— Cheryl Davis Burton (@CherylDavBurton) October 8, 2016
Anyone else think that's a lot for a swim suit.. but I really do like them. @ABCSharkTank #SharkTank
— тαуℓσя (@tpo_5) October 8, 2016
Few people have more entrepreneurial potential than mothers. I just think this crew is in the wrong business. #SharkTank #RaisingWildSwim
— Kevin O'Leary aka Mr. Wonderful (@kevinolearytv) October 8, 2016
Closing Thoughts
Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging business to six multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group. Venture capitalist Chris Sacca is also slated to appear as a guest shark this season.
“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $87 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Friday at 9 p.m. on ABC.
Would you buy a Raising Wild swimsuit? Sound off in the comments section below!