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Brazilian jiu-jitsu star stuns ‘Shark Tank’ with magic hoodie that turns into backpack — and lands huge deal

Hoodie that turns into a backpack? Well, that sounds a crazy idea that would earn the interest of Sharks.

‘Shark Tank’ is a show that brings about some of the best ideas, with simple efforts, turning things around you into a huge profit. One of these products was Quickflip, a hoodie that keeps you warm when the temperature drops, and turns into a fully functional backpack in case you need to run or chase someone. The product was from the contestant, Rener Gracie, a Brazilian Jiu-Jitsu star, who pitched the idea, winning several offers on the reality business shows, on the March 10, 2019 episode, as per For The Win. The idea was so brilliantly pitched that the judges were seen fighting to invest. Gracie was seeking a $500,000 investment for a 5% equity. 

As soon as Gracie entered the room, he told the Sharks a tale about how once he was chasing his son in the park. The event, as per Gracie, had taken place during a cold December morning. Gracie was wearing his favorite hoodie, but when he played with his son for 30 minutes, and as the sun came up, he had no choice but to take off his winter wear. Now, to carry the apparel, he did not have many options. Either it could have gone around his waist, or been wrapped around his neck, on the shoulders, or carried the hoodie on one shoulder, a way which he preferred. However, when he knelt to tie his shoe, the hoodie fell on “wet grass.” In that moment, Quickflip was born.   

The cloth can turn into a backpack by just flipping it inside out. To make his pitch even more interesting, Gracie invited his cousin to ‘Shark Tank,’ showcasing how the backpack can stick to your body even when you are sparring or practicing jiu-jitsu. The contestant then presented the judges with a variety of similar clothing, ranging in colors. Gracie then even taught them how to use it. Telling the background story, Gracie informed the judges that his grandfather was the co-creator of Brazilian jiu-jitsu. His father was the one who brought the technique to America, as he took classes in his garage in 1978. His uncle then entered the early days of UFC, beating several giant opponents. This then ultimately had the family in the limelight, along with their clothing brand that once sold t-shirts, hoodies, uniforms, as well as martial arts apparel. 

As per the contestant, the product is made for $15 and is sold for $40 to $50, through an online medium. Gracie then informed that the family did a pilot test, making 5,000 units, and waited for the people’s response.  It was just within two and a half months that all of these units were sold out. “So you sold $200,000 with or take,” Mark Cuban stated. To have the Sharks more attracted, the contestant then showed them other variants in his closet. He had convertible crew necks, kids' apparel, as well as convertible clothing available in waterproof material. 

Coming to the investment stage, Daymond John opted out. Joining him was Kevin O’Leary, but he soon jumped back in with a deal of $100,000 for 25% plus $400,000 as a line of credit. However, Robert Herjavec offered him $500,000 for a 25% stake. Meanwhile, Lori Greiner offered him $500,000 for 15%. After this, O’Leary revised his offer to $500,000 for 15%. But Greiner again came up with $250,000 plus $250,000 as a line of credit for a 10% stake, with which the contestant went ahead.