Quikflip, the innovative hoodies was founded by Rener Gracie. Later this was transformed into backpacks. With its innovative and stylish design Quikflip succeeded to become the standout brand among the buyers since its appearance on Shark Tank. Quikflip succeeded to secure a deal with the investor Lori Greiner. The company has grown steadily among the buyers due to functionality and unique design.
Key Facts about Quikflip
Here’s a quick overview of important details about Quikflip:
| Details | Information |
|---|---|
| Brand Name | Quikflip |
| Founder | Rener Gracie |
| Investor | Lori Greiner |
| Shark Tank Deal | $250,000 cash + $250,000 line of credit for 10% equity |
| Initial Valuation | $10 million |
| Estimated Net Worth | Over $10 million (post Shark Tank growth) |
| Popular Products | Hero Hoodie, rain jackets, kids’ hoodies |
| Sales Channels | Official website, Amazon, retail partnerships |
| Unique Selling Point | Reversible hoodie-to-backpack patented design |
Who is Quikflip Founder?
Jiu-Jitsu, expert Rener Gracie founded the Quikflip with a focus on problem-solving designs. His sense of fashion has inspired broad audience and outdoor enthusiastic travelers. His idea of Quikflip innovative hoodies has inspired many entrepreneurs. He solved the problem of young generation by making multipurpose backpack hoodies.
Quikflip’s Shark Tank Pitch
On its Shark Tank pitch Rener Gracie, drew the Sharks attention on their idea of innovative Quikflip hoodies and ultimately they got a deal from Lori Greiner. Here’s the summary of their pitch:
| Aspect | Details |
|---|---|
| Pitch | $500,000 for 5% equity (valuing the company at $10 million) |
| Investor | Lori Greiner |
| Deal | $250,000 for 10% equity + $250,000 line of credit |
| Shark Reactions | Lori admired the utility and market potential, while other Sharks were concerned about scaling the business. |
| Post-Pitch Impact | Sales spiked, with increased brand visibility and product diversification. |
Quikflip Net Worth
Quikflip Apparel annual revenue is approximately $4 million and its net worth is more than $10 million as of late 2024. So far its doing good after their Shark Tank appearance. They also diversified their product that attracted more buyers.
How Quikflip is Doing After Shark Tank
Quikflip’s Shark Tank appearance gave them a global recognition that resulted in its increased visibility and sales. Their initial valuation at the time they appeared in Shark Tank was nearly $10 million and now they are worth more than $10 million while their annual revenue exceeds nearly $4 million.
Quikflip also expanded its product beyond the Hero Hoodie to include:
- Rain Jackets: Weather-resistant apparel that maintains the reversible feature.
- Kids’ Apparel: Lightweight, practical designs tailored for children.
- Customized Gear: Partnerships with events and organizations for branded Quikflips.
Why Quikflip Stands Out
- Innovative Design: The patented reversible feature adds a unique value proposition.
- Broad Appeal: Useful for fitness enthusiasts, travelers, and urban commuters.
- Sustainability: The durable designs reduce the need for separate bags and outerwear.
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