Highlights
- Rachel Mann and Mackenzie Burdick pitch Litter Jewelry, their hand-made jewelry line created from upcycled materials, seeking $80,000 for 51% equity on Shark Tank.
- After multiple offers and negotiations, the sisters secure a deal with Daymond John and Mark Cuban for $80,000 in exchange for 70% equity, with Daymond and Mark handling the business side.
- Although initially successful, the company faced challenges, and as of February 2023, the Litter Jewelry website is no longer active, and social media has not been updated since 2018.
Overview
| Category | Details |
|---|---|
| Name | Litter Jewelry |
| Founders | Rachel Mann and Mackenzie Burdick |
| Industry | Fashion and Jewelry |
| Product | Hand-made body jewelry crafted from upcycled materials found at yard sales, thrift stores, and more |
| Funding | Seeking $80,000 |
| Investment Ask | $80,000 |
| Equity Offered | 51% |
| Valuation | $157,000 |
Litter Jewelry “artists” and entrepreneurs Rachel Mann & Mackenzie Burdick pitch their line of hand-made jewelry to the Sharks in episode 305. The two sisters create unique body jewelry pieces from items they find at yard sales, bric-a-brac stores and even the trash (hence the name “Litter”). Their two women originally designed headpiece jewelry, but it expanded into body jewelry as their cache’ grew among celebrity clients. Litter Jewelry was featured in many fashion magazines prior to their Shark Tank appearance and had increasing sales. Rachel and Mackenzie also had a deal with Urban Outfitters to sell in their retail stores.
Litter Jewelry Shark Tank Pitch
Rachel and Mackenzie went into the Tank looking for $80K for a 51% share of their business. While the two women are talented designers, they understood that the business side of Litter Jewelry was where they needed guidance and help from the Sharks. Their sales went from $78K in 2010 to over $150K the following year (and growing). Margins are good too: the average piece costs around two bucks to make and sells for almost $100. Kevin O’Leary wants to bang out jewelry in a Chinese factory; both he and Robert like the sisters, but they think they’ll have to put in too much time running the business, so they’re out.
After a lot of back and forth, Daymond offers them a “designer’s deal” where he’ll fund the business at $80K for 70% while giving Rachel and Mackenzie salaries. Mark likes the women and offers to join in with Daymond to do “the website stuff” while Daymond handles retail distribution and manufacturing. Kevin jumps back in and offers what the sisters were asking for originally. Daymond then employs Cuban’s “24 second clock” as Barbara urges them to decline the offer and deal with her. Rachel and Mackenzie just want to make jewelry and are happy to let Daymond and Mark run the business side of things. They accept Daymond and Mark’s offer and leave the Shark Tank happy.
Litter Jewelry Shark Tank Update
A few days after appearing on Shark Tank, Rachel appeared in a Youtube Video with Daymond explaining how far the business progressed since taping their episode. Daymond and Rachel announced a collaboration with fashion model Selita Ebanks. The jewelry was placed in high fashion boutiques worldwide and appeared to be on the upswing. In December 2012, ABC announced Litter Jewelry would be featured in a follow-up segment in episode 414. SharkTankBlog will continue to follow the Litter Jewelry story as it unfolds.
As of July, 2021, the company is still in business. They sell on their website, Poshmark and in hundreds of independent jewelry stores. They have lifetime revenue of $6 million.
As of January, 2022 their website is dark and social media hasn’t been updated since 2018. It says they aren’t currently accepting orders because they are moving. Rachel and McKenzie’s LinkedIn profiles still list the company as open. As of November, 2022, the website still says they’re moving. In February, 2023, the website is completely gone.
Posts about Litter Jewelry on SharkTankBlog
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