The local founder behind startup Tucky recently stepped into the "Shark Tank" prepared to make her product and pitch shine. She did just that, ultimately striking a deal with a shark she'd hoped to reel in.
Brooke Knaus, founder of Charlotte-based Tucky, appeared on the hit ABC show May 19, where she pitched to investors Lori Greiner, Barbara Corcoran, Kevin O'Leary, Daymond John and Mark Cuban.
She received the same offers from O'Leary and John, $70,000 for a 40% equity share. She decided to partner with John and reeled him in with a counter that brought his stake in Tucky to 39%. Knaus said it may have been the smallest negotiation in the history of "Shark Tank," but she couldn't lose the opportunity to work with John because of his prominence in the fashion industry.
"You see so often sharks pull an offer fast if an entrepreneur negotiates too low. I went in really, really low knowing I wanted a shark more than anything," she told CBJ. "I wanted to be desirable. And when I got Daymond off the hook, I was like 'I'm not letting him go.' I didn't want to give him a good reason to say no."
Tucky was born in late 2021 and made its first sale in April 2022. That product is a wardrobe accessory used for tucking in a shirt or making a crop top. The band can also be used to layer a shirt over apparel such as a romper or dress.
Sales soared after Knaus' appearance on the show, with the undergarment straps selling out in just 12 hours after her segment aired. Shortly after, Knaus said she generated another 1,000 preorders that will be delivered by the end of June.
Knaus started the company while in the postpartum period after her second child.
"I wasn't really feeling like my old self again," she said. "One of the ways I felt like I could change that is just how I was getting dressed in the mornings."
She began to hop on the social-media trend of tucking her sweatshirt into her bra, but found the top slipping out of the undergarment too frequently. She figured other people may have encountered the same problem, especially moms who desired to feel good about themselves.
Knaus turned the trend into her own business and sold 200 straps just days after launching. From there, sales continued to hike. She has sold about 8,000 bands since launching the company just over a year ago. The straps sell for $30.
She described her experience on "Shark Tank" as "incredible."
Knaus applied to be featured on the show two months after her company was founded. Some time had passed by, and she didn't expect to be selected. She eventually landed a call last August and was chosen to appear on the hit series. Knaus taped her 90-minute pitch on "Shark Tank" the next month.
Most of the funds Tucky secured will be used to grow the startup's inventory and pay for its collaboration with a creative marketing agency that John recommended, Knaus said. The agency is helping her with email marketing, social media-ad buying and affiliate outreach — the type of support she was aiming to gain from the show.
"Yes, cash is amazing," Knaus said. "But for me it was finding the right people."
She also said she hopes to expand her product offerings. Knaus currently sells the Tucky band, breast-lift tape and a long-sleeve crop top, according to her website. Knaus plans to add "anything that's unseen" to her line, such as other wardrobe accessory options.
"We're trying to be smart with our money," she said. "'How do we make our clothing fit better than having to spend it on a tailor or go buy a whole new wardrobe?' So everything unseen is kind of the key for that."
