Whatever Happened To SockTABs - Keep Socks Together In Laundry After Shark Tank Season 7?
We may receive a commission on purchases made from links.
Losing socks in the laundry is an unfortunate and common occurrence we all experience. This leaves us with more mismatched socks than we know what to do with and the burden of spending money to replace them. ABC's "Shark Tank" showed us a solution for this everyday problem in season 7, with Tracie and Glen Burress' nifty invention of the SockTABs – a tab that links socks together so they don't separate in the wash. At the time of their pitch, Tracie was a pharmaceutical representative, and Glen spent 19 years as a practicing doctor. Despite already having incredibly successful careers, the husband and wife duo captivated the investors with their passion and energy regarding their product. Tracie proudly stated upon entering the stage, "What I have in my hand is going to eliminate the worst part about doing laundry."
SockTAB was formed in 2013 after Tracie suffered a brain aneurysm and had life-altering surgery. With a newfound outlook on life, going after her dreams and pursuing entrepreneurship was a priority. Although the Sharks were impressed with the product and saw its potential, they all had their reasons for deciding to pass on the opportunity to invest. As Tracie and Glen thanked the Sharks for their time and began walking away, one judge had a last-minute change of heart and offered them a deal they couldn't pass up.
An investor's change of heart
Tracie and Glen Burress strutted onto "Shark Tank" season 7 in 2015, asking for a $50,000 investment with 20% equity. Immediately grabbing the Sharks' attention, Tracie and Glen performed a comedic sock puppet skit and launched their product. "One sock tab stays on one sock at all times," said Glen. "That way, you wear it throughout the day, and at the end of the day, you simply pinch the wings, tab it through its mate, and your socks are ready to go in the hamper." SockTABs could feature different colors, designs, and even logos. "It's like a cufflink for your socks," Tracie noted.
The couple highlighted a goal of a licensing deal with a shoe or sock manufacturer and said they've made $20,000 in profit within the last six months through retailers and online. A pack of 24 costs $1.25 to produce and is sold wholesale for $4.99. All Sharks acknowledge that they like the product, but that isn't enough. Three investors back out because they feel they aren't suitable for the investment and that other companies would be tough competitors. Kevin O'Leary pointed out that SockTABs could never completely supplement the couple's current income, so he passed for uncertainty in their dedication. Daymond John saw a conflict of interest with another one of his investments, Bombas Socks. But when all other investors were ready to let the couple go, John offered a $50,000 investment with 30% equity if Bombas Socks was on board.
Growing after Shark Tank
After Tracie and Glen Burress successfully pitched their product on "Shark Tank" and got a tentative deal with Daymond John, SockTABs grew. After the investment deal from "Shark Tank" was finalized, the couple appeared on the Home Shopping Network alongside John to demonstrate and promote the product, and a commercial for SockTABs was also aired. In an interview with Heavy shortly after their appearance on the reality TV show, Tracie expressed optimism for the company's future, saying, "We hope to make SockTABs a household name. We know that every person that has feet wears socks and have searched for the 'other sock.' Let's face it, every sock has a mate; let's keep it that way."
SockTABs heavily focused on the Chicago area, staying close to Tracie and Glen's Rockford, Illinois home base. While still keeping online purchases an option on their website, SockTABs became available in large retailers like Bed Bath & Beyond and were listed on Amazon. SockTABs sell for $9.99 for a pack of 24 on their website, with different colors and designs available. In 2018, the company was doing so well that it completely sold out on its online forums until 2021. Even now, in 2023, a majority of the products on their website are out of stock, with their white and black SockTABs the only color currently available.
SockTABs and its founders today
SockTABs is still in business today and has launched a how-to-use video on their YouTube channel to reintroduce consumers to their product while answering any questions. As reported in 2022, the company saw incredible numbers of one million in annual revenue, and its founders had $900,000 in net worth.
While SockTABs' social platforms have not seen any new activity since early 2022, you can keep up with Tracie on her website or by purchasing her book. In 2022, Tracie published Survive to Succeed: From a Brain Aneurysm to Shark Tank, How to Trust in God's Plan, and is available on Amazon and the SockTABs website. Fundraising opportunities to support Black-owned businesses are also available on the company's website under the product listing "Shark Tank Fundraiser Package." For $24.99, you can purchase a three-pack combo of white and black tabs. They are also available to be contacted by any fundraisers, offering a 50% minimum profit margin on all orders.