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‘Shark Tank’ judge Kevin O’Leary doubted her charms — until sales numbers made him eat his words

"I want to know is if it is selling through? It's a lot of c*ap but it's not c*ap if it's selling through," Kevin O'Leary said.

Sometimes, the Sharks need time to recognize the potential of a product or business idea. During Season 16 of ‘Shark Tank,’ Charlotte Trecartin pitched CharCharms, a brand that sells colorful accessories for water bottles, to Sharks Cuban, Kevin O'Leary, Lori Greiner, Daymond John, and Kendra Scott. In the episode, Trecartin was seeking $300,000 in exchange for 10% of her company. At first, O'Leary dismissed CharCharms as “crap.” But everything changed once he heard the company’s sales numbers.

During her pitch, Trecartin said, "Sharks, I want to introduce you to someone very special that goes everywhere with me. We go to work together. We go to the gym together, and heck, I even bring her to get my nails done with me. Oh, you think I'm talking about my best friend, silly sharks. I mean, don't get me wrong, she's important, but not as important as this gal, my water bottle. She's the best, isn't she? She keeps track of my hydration. She gives me emotional support, but there's one thing she's missing that every girl needs, that's accessories, and that's where charms come in. A fun and colorful way to accessorize your water bottle, no matter what shape, size, or color."

While sharing the backstory of her water bottle accessory business, Trecartin further added, "It all started with our dishwasher-safe stick-on hook and charms. We created water boots to protect her bottom from dents and scratches, straw toppers to keep out dust and dirt, and little zipped pouches so she can carry all of your essentials. I know, Sharks, I truly have it all figured out, but the best part is that you can mix and match these accessories to dress her up for any occasion. Sharks, my water bottle, and I are basically ride or die. So, are you ready to make your water bottle your best friend?"

When O'Leary asked about her sales, Trecartin responded, "Our first full year was 2022; we did $80,000 in sales. In 2023, we did $250,000 in sales. This year, to date, we're at $6 million." Soon after, O'Leary questioned Trecartin, "What is that? All the crap in retail. I want to know if it is selling through. It's a lot of crap, but it's not crap if it's selling through." In her response, Trecartin said, "So, we launched nationwide at Dick's Sporting Goods. We did a test with them last holiday. It went amazingly well. This March, they reordered for all 780 stores, and then, we got our purchase order from Target, and I met with the buyers. That quickly escalated from online buyers to let's just go nationwide. So we went nationwide with all 17 SKUs."

Later, Trecartin revealed that one pack retails for $11.99. She added that wholesale prices ranged from $5 to $5.40, while the manufacturing cost was between $1 and $2. O’Leary then asked if the $6 million she mentioned referred to actual sales or just purchase orders. Trecartin said she had purchase orders in hand and expected to reach $10 million by year’s end. After the episode aired, Trecartin shared in an Instagram post that the Sharks helped her overcome her fear of public speaking. After hearing both offers, Trecartin asked O'Leary if he was willing to do $300,000 for 12.5% equity, which he declined. Then, Trecartin countered John, asking if he would accept $300,000 for 15%, but he was ready for 17.5%. Eventually, Trecartin walked away empty-handed, as she wasn't ready to give more than 15% equity.