RuffleButts and RuggedButts got an investment from Lori Greiner
Courtesy of rufflebutts.com
1. Ruffled accessories for girls - and rugged accessories for boys - up to age 6.
2. Not just bloomers - they offer a wide variety of colorful and stylish clothing accessories for tots.Buy RuffleButts and RuggedButts at Amazon.com →
It could be because I don't have kids, or because I'm not from the south, but I honestly, truly have no idea what this product is. I've watched their pitch, I've scoured their impressive website, but I still don't know what the little ruffle thing you stick on your kid's butt actually does.
But that's neither here nor there. The Schaub's have VERY impressive numbers and claim to have been profitable from year one, so there's a lot of "green" reasons to invest in this company - namely, of the dollar-bill kind.
They're looking for expertise and advice from the Sharks, since clearly they don't need the money.
Robert, Mark, and Kevin are all in the same boat as I am - they don't know what to do with the product, although they definitely have respect for the numbers, and the fact that the Schaubs are debt-free.
That leaves Lori and Barbara - or, the "Sharkettes" as Kevin so patronizingly puts it. The interesting dynamic between the two is that Barbara is great at building power brands, and Lori is great at selling product. They both make offers and the Schaubs have to leave the room to discuss.
Coming back with a counter-offer, the Schaubs ultimately talk Lori down to 9% and she gets the deal - with the caveat that the money must all be paid back in 24 months.