RootSuit, the skin-tight full-body neon suit, made its debut on season 4 of Shark Tank USA in 2013. The founder, Colin Grussing, pitched the unique swimwear product to the sharks in the hopes of securing a $100,000 investment for a 15% equity stake in the company.
However, the sharks expressed confusion about the functionality of RootSuit and how it differed from other swimsuits on the market. As a result, they declined to invest, leaving Colin Grussing without a deal.
At the time of the pitch, RootSuit had a net worth of $660,000, based on the offer that was made for the equity stake. Despite not receiving a deal on Shark Tank, RootSuit’s appearance on the show brought increased visibility and attention to the brand.
Key Takeaways:
- RootSuit, a full-body neon suit, appeared on Shark Tank in 2013.
- The founder, Colin Grussing, pitched RootSuit for a $100,000 investment.
- The sharks declined to invest in RootSuit due to confusion about its functionality and differentiation.
- RootSuit’s net worth at the time of the pitch was $660,000.
- Despite not receiving a deal, RootSuit gained increased visibility after its Shark Tank appearance.
RootSuit Net Worth
When RootSuit appeared on Shark Tank in 2013, their net worth was estimated to be $660,000. However, as of 2023, the current net worth of RootSuit is unknown.
RootSuit’s net worth in 2013 was $660,000 when they appeared on Shark Tank. However, the current net worth is unknown as of 2023.
RootSuit Net Worth Timeline
In 2013, RootSuit was valued at $660,000 after appearing on Shark Tank. Unfortunately, information about the net worth of RootSuit in the years following its appearance on the show is currently unknown. However, it is worth noting that RootSuit went out of business in 2016, which may have had an impact on its net worth during that time.
| Year | Net Worth |
|---|---|
| 2013 | $660,000 |
| 2014 | Unknown |
| 2015 | Unknown |
| 2016 | Unknown |
| 2017 | Unknown |
| 2018 | Unknown |
| 2019 | Unknown |
| 2020 | Unknown |
| 2021 | Unknown |
| 2022 | Unknown |
| 2023 | Unknown |
Although we do not have specific figures for the net worth of RootSuit in the years following its appearance on Shark Tank, it is important to remember the significant growth and recognition the brand achieved during its time in the spotlight.
RootSuit Pitch on Shark Tank
During their Shark Tank pitch, Colin Grussing showcased RootSuit by bringing a dance troupe wearing the suits. The sharks, including Robert Herjavec, Lori Greiner, Kevin O’Leary, and Daymond John, expressed concerns about competition and declined to invest. Ultimately, Grussing did not secure a deal on the show.
Despite the vibrant display and unique concept of RootSuit, the sharks were hesitant due to the saturated market of spandex bodysuits and the lack of clear differentiation from other swimwear products. The sharks saw potential for competition to easily replicate the product and questioned its longevity in the market.
Kevin O’Leary voiced his concerns, stating, “I’m not convinced that this is a lasting business. It’s just a fad that could easily be replaced by other similar products.”
Although the sharks did not see the investment opportunity in RootSuit, the pitch on Shark Tank provided valuable exposure for the brand, leading to increased visibility and recognition.
RootSuit Founder
Colin Grussing, a mechanical engineer and athlete, is the visionary behind RootSuit. In 2012, Grussing founded RootSuit with a mission to revolutionize the world of swimwear. Drawing from his own experiences with the discomfort of swimwear drag, he set out to create a unique and innovative solution that would enhance performance and style.
Driven by his passion for engineering and sports, Grussing designed a skin-tight full-body neon suit that would not only reduce drag but also make a bold fashion statement. The RootSuit became a symbol of empowerment and self-expression, combining functionality and aesthetics in one sleek package.
“I wanted to create a swimwear solution that would enhance performance and allow individuals to stand out from the crowd. RootSuit is the perfect fusion of form and function, bringing joy and confidence to those who wear it,”
The current net worth of Colin Grussing is unknown, but his innovative spirit and determination continue to inspire athletes and fashion enthusiasts around the world.
Key Accomplishments
RootSuit has achieved several significant milestones since its inception. These accomplishments highlight the brand’s success and recognition in various domains.
1. Shark Tank Season 4 Appearance (2013)
- RootSuit made its mark on the popular reality TV show, Shark Tank, during its fourth season.
- This appearance provided the company with valuable exposure and an opportunity to showcase its unique product to a wide audience.
2. Best New Product Award (2015)
RootSuit’s innovative design and functionality were recognized at the Outdoor Retailer Summer Market in 2015
3. Olympic Worn by Katie Ledecky in Rio (2016)
- In a momentous occasion, American swimmer Katie Ledecky wore a RootSuit at the Olympic Games held in Rio de Janeiro in 2016.
- Through this high-profile endorsement, RootSuit gained widespread visibility and cemented its position as a top-choice performance apparel brand.
These achievements underline RootSuit’s commitment to innovation, recognition within the industry, and its ability to attract influential individuals.
RootSuit After Shark Tank
After their appearance on Shark Tank, RootSuit experienced a significant boost in visibility and sales. The exposure from the show helped create awareness about the brand and its unique neon full-body suits.
“Being on Shark Tank was a game-changer for us. The national television exposure opened doors to new opportunities and customers,”
The company capitalized on their newfound attention by launching a new line of products. Building on the success of their original RootSuit, they expanded their range to include different colors and designs to cater to a wider market.
The RootSuit team also aimed to strengthen their distribution network and make their products more accessible to customers across the country. They secured partnerships with various retail locations, allowing shoppers to try on and purchase the suits in-store.
However, despite their initial progress, RootSuit faced significant challenges and was unable to sustain their business. In 2016, the company ceased operations, and the product is no longer available in the market.
| RootSuit After Shark Tank | Details |
|---|---|
| Sales Increase | The exposure from Shark Tank led to a surge in sales for RootSuit. |
| New Product Line | RootSuit launched a range of new colors and designs to diversify their offerings. |
| Expanded Distribution | The company secured partnerships with retail locations to expand their reach. |
| Business Closure | RootSuit went out of business in 2016 and is no longer available in the market. |
RootSuit Competitors
In the spandex bodysuit market, RootSuit faces tough competition from various brands. Here are some of the key competitors:
| Brand | Description |
|---|---|
| Exhilarations | A popular brand known for its vibrant and high-quality spandex bodysuits. |
| L*Space | Offers a wide range of trendy and stylish spandex bodysuits, popular among fashion-forward individuals. |
| Moxzie | Known for its innovative designs and comfortable spandex bodysuits, catering to athletes and fitness enthusiasts. |
| Body Wrappers | A well-established brand offering a diverse selection of spandex bodysuits for various performance and dance activities. |
| Vested Interests | Specializes in high-quality, custom-made spandex bodysuits, tailored to individual preferences and requirements. |
These competitors provide customers with a range of options in terms of design, style, and functionality. RootSuit had to navigate the market and differentiate itself to stand out among these well-established brands.
RootSuit Update Shark Tank
Despite its appearance on Shark Tank, there is currently no recent update on RootSuit’s current status or any new developments. The net worth of RootSuit remains unknown. Since its pitch on the show, RootSuit has not made any significant updates or announcements that would provide insight into its progress or future plans.
RootSuit’s journey on Shark Tank was met with challenges as the sharks expressed concerns about competition and the investment amount requested. Without securing a deal on the show, RootSuit faced difficulties in expanding its brand and achieving widespread success.
However, it’s worth noting some key factors that might have contributed to its limited updates:
While RootSuit may have faced challenges since its appearance on Shark Tank, the exact reasons for its lack of updates or progress remain unknown. It’s possible that the company has shifted its focus or pursued alternative strategies outside of the public eye. As of now, RootSuit’s future plans and net worth remain undisclosed.
Stay tuned for any potential updates on RootSuit’s Shark Tank journey and its position in the market.
RootSuit Shark Tank Deal
Despite their energetic pitch on Shark Tank, RootSuit did not secure a deal with any of the Sharks. The sharks expressed concerns about the level of competition in the spandex bodysuit market and the size of the investment being requested. While the Sharks appreciated the creativity and uniqueness of RootSuit, they ultimately decided not to invest.
Without a deal from the Sharks, RootSuit faced challenges in expanding their business and reaching a wider market. However, the exposure gained from their appearance on Shark Tank did provide a boost in visibility and sales for RootSuit.
Although the Sharks did not see a potential investment opportunity with RootSuit, the brand continues to be recognized for its innovative approach to swimwear. While the future of RootSuit remains uncertain, their appearance on Shark Tank showcased the entrepreneurial spirit of founder Colin Grussing and left a lasting impression on viewers.
FAQ
Did RootSuit receive a deal on Shark Tank?
No, RootSuit did not receive a deal from any of the Sharks on Shark Tank.
What was RootSuit’s net worth when they appeared on Shark Tank?
RootSuit’s net worth was 0,000 when they appeared on Shark Tank.
What is RootSuit’s current net worth?
The current net worth of RootSuit is unknown as of 2023.
Who is the founder of RootSuit?
Colin Grussing is the founder of RootSuit.
What are RootSuit’s key accomplishments?
In 2015, RootSuit received the “Best New Product” award at the Outdoor Retailer Summer Market. In 2016, RootSuit was worn by Katie Ledecky at the Olympic Games in Rio de Janeiro.
What happened to RootSuit after their appearance on Shark Tank?
RootSuit went out of business in 2016, and the product is no longer available in the market.
Who are RootSuit’s competitors in the spandex bodysuit market?
RootSuit faced competition from brands like Exhilarations, L*Space, Moxzie, Body Wrappers, and Vested Interests.
Is there any recent update on RootSuit’s current status or any developments since its appearance on Shark Tank?
There is no recent update on RootSuit’s current status or any developments since its appearance on Shark Tank.
What was the outcome of RootSuit’s pitch on Shark Tank?
The sharks on Shark Tank expressed concerns about competition and the size of the investment being requested, resulting in RootSuit not securing a deal on the show.
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