If you’re wondering how much money Tough Tie is worth today, keep reading. It’s been over four years since the business was founded by Skylar Bennett and Kevin Shoemaker. The two college students were inspired by the idea to create a tie that would stand up to being washed in a washing machine and resist stains. The business is so popular that it has made their founders incredibly rich.
The entrepreneurs wanted a $100,000 investment from venture capitalists in exchange for a 15% stake in the company, but the pitch didn’t go well. They pitched the Sharks on their story and included sales figures. By the end of the pitch, the company had generated $208,000 in sales last year and was predicted to top $400000 this year. The founders, Skylar and Kevin, had initially invested $43,000 into the business, but were already over $150,000 in debt.
In 2017, Tough Apparel made a name for itself and created the Tough Tie, a stain-resistant tie that can be washed instead of dry cleaning. It also features microfiber tipping that can be used to clean glasses. Using dye-sub printing, the Tough Tie is also machine-washable. As a result, it can be used to prevent stains on glasses. It is not surprising that Tough Apparel has made it so popular.
After Tough Apparel began selling ties, they expanded to belts, face masks, socks, and more. They have expanded their product lines to include face masks after the COVID-19 pandemic. All of these products are stain-proof, machine-washable, and durable. Online, the company offers tough ties in a wide range of designs, and their products start at $30.
Tough Tie began selling its products in 2017, and has since expanded to include other products under the Tough Apparel brand. These include belts, face masks, stockings, and even socks. In addition to ties, Tough Apparel also sells face masks, t-shirts, belts, and socks. As of 2017, it had a net worth of $170 million. It’s not yet clear how much the company will make by 2021.