Rags to Raches on Shark Tank: Quick Highlights
What Exactly is Rags to Riches?
Rags to Raches began as a means to sell Nilsson’s childens’ hand-me-down clothing.
When she began selling them on Instagram, she realized the handmade clothes were selling the quickest and that’s when the business was born, according to the company’s story page.
Their “premier item” turned out to be the romper, which solves the problem of trying to use snaps on a squirming baby.
Debuting her snapless onesie creation on Instagram, Nilsson began sewing 200 rompers every few days and the business quickly grew, eventually landing a spot on “Shark Tank.”
When Nilsson originally appeared on season seven of “Shark Tank” to pitch her snapless romper business Rags to Raches, a shark fight ensued.
Coming down to offers from Robert Herjavec, Kevin O’Leary and Daymond John, Nilsson ultimately decided to accept Herjavec’s deal for $200,000 for 15 percent equity.
Where Is Rags to Raches Now?
According to a Forbes article, Nilsson’s daily sales quadrupled within a month of the “Shark Tank” episode airing and more than 100 retailers reached out to sell the products. “The company’s total lifetime sales come to $1,066,036.21,” the article, which was published in March, reads.
The company’s “Our Story” page says they have been featured in Forbes Magazine, twice in British Vogue and also included in American Vogue’s “What the Cool Kids Are Getting This Holiday Season: The Most Stylish Gifts for Ages 0 to Preteen.” The Huffington Post also included them in their article “15 Super Cool Kids Clothing Brands That You And Your Little One Will Love.”
“This all started with an idea and a big dream,” the story page reads. “It is hard to believe sometimes what has happened. Super grateful.”