Tutublue – Sun Protective Swimwear
NO DEAL
EPISODE SUMMARY
🕓 Air Date: February 19, 2016
Asking For:
$200,000 for 25%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
TutuBlue offers a first-of-its-kind, one-piece beach suit made with UPF-50 fabric, providing protection against 97% of the sun's harmful rays. It is lightweight, durable, comfortable, quick-drying, and designed to keep users cool.
WATCH HERE
IN A RUSH?
Click these to jump to the section you want to read.
Background Story
The founder, Sarah Buxton, developed the concept for Tutublue after a life-changing event. A year and a half ago, she was diagnosed with melanoma, a devastating experience that prompted her to reevaluate the importance of sun protection. While recovering, she spent ample time at the ocean with her family, leading her to envision a fashionable solution that prioritizes skin protection. Tutublue was born out of a personal need and a passion for making sun-safe beachwear accessible and stylish.
The Product
Tutublue’s beach suit features stretchy fabric that provides a slimming effect, making it not only protective but also flattering. With a price point of $220 at retail, the manufacturing cost stands at $47. Currently available in one store in Laguna Beach, Tutublue is in its early stages, with sales amounting to $4,000 within the first month and a half.
How It Went
The company’s position before Shark Tank
At the time of the pitch, Tutublue is in its infancy, having just started operations a month and a half ago. The focus is on dermatological benefits, specifically catering to individuals concerned about sun damage. The company is seeking $200,000 for a 25% stake, valuing the business at $800,000. While Tutublue has made its way into one retail store, the sales performance is yet to be determined.
The Negotiations:
The Sharks expressed reservations about the early stage of the business and the high valuation. Concerns were raised about the broad focus of the product, which initially aimed at dermatology and water sports. Despite Sarah’s commitment, none of the Sharks made an offer. The negotiations concluded without a deal, with the Sharks highlighting the need for a more focused direction for the business.
In summary, Tutublue, with its innovative approach to sun protection in swimwear, is navigating the challenges of being a new entrant in the market, and the founder, Sarah Buxton, remains determined to establish it as a go-to brand for stylish and protective beachwear.
