R.RIVETER Shark Tank Pitch
R.RIVETER is a handbag company on a mission. They are military spouse that are creating mobile income for military spouses. They are providing opportunities to families that serve all Americans. The handbags are made out of recycled military material.
Military spouses move every 2.9 years. The parts of the handbags are made by Military Spouses are stamped with an ID of everyone that build your bag. The parts are then transferred to the final assembly facility and readied for the consumer. The job transfers with the person as they move for their military deployment.
R.RIVETER handbags has sixty percent sales online, with almost $300,000 in the last twelve months. They have a total investment of $9,000 in the company and has one retail store. Lisa went to business school, but never got to use her education because they move around. Lisa and Cameron have husbands that are Rangers. Cameron has a Masters in architecture.
R.RIVETER handbags have a premium price because of the story behind them, and through their social network. Everybody who contributes has pride of ownership and is more than just a business. They came into the Shark Tank to tell the story behind the country so that America knows what the spouses of our military are doing.
R.RIVETER Episode Data
- Company: R.RIVETER – Website
- Entrepreneurs:Lisa Bradley and Cameron Cruse
- Ask: $100,000 for 20% equity
- Episode Season 7 Episode 716
- Companies in this episode:
- R.RIVETER
- BearTek
- Major Mom®
- Combat Flip Flops
- TurboPup – Featured Update
- Sharks:
- First Aired: 02/05/2016
- Deal: Mark Cuban $100,000 for 20% equity and financing for purchase orders and extra equipment.
What do the Shark Tank Investors say about R.RIVETER?
- Mark Cuban – offers the same as Kevin and Robert, and agrees to provide whatever credit is needed for inventory and credit for extra equipment.
- Daymond John – when you make money you believe that somebody else can do something as good as you, and then you discover you know as much or more than them. He is out because he does not believe he can add the value that they are searching for to help with their company.
- Kevin O’Leary – likes the company and it fits what he is doing in two other businesses. He doesn’t want to partner with anyone, but he offers $100,000 for 20% equity.
- Lori Greiner – doesn’t know if she can do what they do, and they are doing a completely different model than what she does. She admires them, but she is out.
- Robert Herjavec – wants to know how they will spend the money. They answer that they are going to expand with social media, and hiring a team to increase production. Robert offers $100,000 for 20% equity
R.RIVETER after Shark Tank
The team of military spouses tripled due to the high demands of sales after their deal on Shark Tank. Their customers understand that in order for their bags to be constructed, that a slight wait may be necessary as they are hand made by military spouses.