|SEASON 8 EPISODE 19|
|Pitch||repurposed and recycled bags made from billboard vinyl|
|Entrepreneur||Alec Avedissian and Aric Avedissian|
|Asked For||$300,000 for 8%|
|Deal||$300,000 loan at 8% for 10% equity|
What is Rareform?
Rareform is a company that uses vinyl materials from billboards to hand-make a variety of products. Rareform plays a noble role in conserving Mother Nature through recovery and recycle.
Rareform recovers the heavy vinyl materials from billboards and uses them to hand-make a variety of products. The admirable and unique backpacks in the California area are a product of Rareform.
The company also makes and supplies durable wallets and handbags at affordable prices.
Who Owns Rareform?
Aric and Alec Avedissian are the founders of Rareform. The two brothers are born and bred in Los Angeles. They started the company in 2012, and it has grown immensely since then. The company designed its first surf bags courtesy of the funds from the duo’s family and friends. The two brothers have been entrepreneurs since they become adults. Currently, they are focusing on pushing their company to gain world recognition in making a profit while saving the environment.
The inspiration to transform billboards into essential items started when Avedissian saw people making rooftops using billboards in El Salvador. Avedissian attests that he always thought that billboards were made of paper until he saw houses made of them. He henceforth began brainstorming about the items vinyl can make. Eventually, Rareform was born.
Like any other company, Rareform has had bad and good days. On a bad day, the company lacked enough funds to start the business. Family and friends raised the first funds. Also, the duo reported losing $130 000 in a particular year. However, they eventually recovered.
Rareform Shark Tank Update
Did Rareform Get a Deal on Shark Tank?
On Shark Tank Season 8 Episode 19, Alec Avedissian and Aric Avedissian accepted an offer of $300,000 loan at 8% for 10% equity, from Kevin O’Leary.