Quick Shark Tank Update on CLUTCH Glue
- Shark Tank Australia Success: CLUTCH Glue made Shark Tank history, receiving offers from all five Sharks.
- Deal Outcome: Accepted a $400,000 investment for 20% equity from Davie Forgarty and Robert Herjavec.
- Sales Milestones: Achieved first-year sales of approximately $1 million; sold out the initial 5,000-unit stock and reached 25,000 units in total sales.
- Current Retail Presence: Available in Priceline (Australia), CVS (USA), and soon in Woolworths.
- Digital Expansion: Partnered with Commission Factory to enhance digital reach through affiliate marketing.
Founded by sisters Annabel and Lucy Hay, CLUTCH Glue is revolutionizing wardrobe management. Their innovative clothing adhesive prevents wardrobe malfunctions.
Inspired by Annabel’s own experiences with unreliable fashion tape, CLUTCH Glue offers a powerful, skin-safe, and environmentally friendly alternative.
“CLUTCH is a first-of-its-kind, globally patented formula that can be used for just about anything” Annabel explains.
It tackles issues like “bra straps always falling, strapless dresses never staying up, or a quick fix for a dropped hem”, making this adhesive a versatile must-have.
After a viral TikTok success with 8.9 million views and a historic Shark Tank appearance, “CLUTCH Glue is for anyone who has or is currently struggling with fashion tape,” adds Lucy.
Now available in major retailers, CLUTCH Glue has quickly become a must-have for style-conscious consumers.
CLUTCH Glue Journey Before Shark Tank
CLUTCH Glue’s journey began with a common problem: traditional fashion tape’s unreliable hold. After experiencing “too many wardrobe malfunctions due to fashion tape being so unreliable,” Annabel decided to create a better solution.
This idea launched a four-year development phase that led to a hypoallergenic, vegan, water-soluble, sweat-resistant adhesive. It would secure all types of clothing safely against the skin.
The final product, CLUTCH Glue, launched in December 2022 and quickly became a viral sensation on TikTok, amassing 8.9 million views. “This catapulted years of our hard work into the For You pages of countless people across the world,” said Annabel, reflecting on the brand’s explosive growth online.
@clutch_glue Replying to @Zara Jones Endless uses! #clutchglue #fyp #fashion #fashionhacks #festival #smallbusiness #convenient #viral #womenownedbusiness #gamechanger ♬ original sound – CLUTCH Glue
Blending direct-to-consumer and brick-and-mortar sales, CLUTCH Glue sold out its initial 5,000-unit order within four months. Sales soon reached 25,000 units in the first year.
By December 2023, it debuted in Priceline and quickly secured a place as the chain’s third best-selling product within a week.
As Annabel shared, “CLUTCH also launches in CVS stores across the USA on the 26th of October and select Woolworths stores across Australia on the 13th of November.”
CLUTCH Glue has since transformed into a staple for consumers and stylists alike. It offers a simple, strong, and safe adhesive solution to address a wide range of fashion challenges.
Shark Tank Pitch Recap
Annabel Hay’s appearance on Shark Tank Australia was historic. Her well-prepared pitch not only impressed the Sharks but led to a rare bidding war among all five.
Annabel recalls, “Going on Shark Tank was such a life goal of mine since I was in Year 10 and my business studies teacher showed us the Scrub Daddy episode.”
Her enthusiasm paid off, as each Shark offered to invest, marking an unprecedented moment on the show.
The Sharks were captivated by CLUTCH Glue’s unique qualities and Annabel’s passion. This prompted Showpo CEO, Jane Lu, to jump in first, soon followed by the other investors.
After careful consideration, Hay accepted an offer from Davie Forgarty, the founder of The Oodie, and American entrepreneur Robert Herjavec.
Together, they agreed to invest $200,000 each for a combined 20% equity. Herjavec’s compliment, calling it “the best-ever pitch on the show,” remains a career highlight for Annabel.
“It sort of fills me with a lot more confidence now that I’m perceived well and taken seriously,” she shared, describing how this feedback strengthened her commitment to scaling CLUTCH Glue.
CLUTCH Glue Shark Tank Update
After Shark Tank, CLUTCH Glue’s visibility and opportunities skyrocketed. Interest in the brand extended beyond the Sharks, attracting a “large venture capital firm” looking to facilitate a broader capital raise.
Herjavec and Forgarty continue to offer valuable guidance as CLUTCH Glue navigates international markets. As Annabel highlights, “Davie and Rob have been part of a renegotiation off-camera at a larger valuation than what was shown on TV.”
CLUTCH Glue’s international expansion includes a partnership with CVS in the U.S. It has also secured agreements in the U.K. and New Zealand. At home, the product remains a strong seller in Priceline and will soon appear in Woolworths.
CLUTCH Glue’s recent partnership with Commission Factory marks a strategic move into affiliate marketing, allowing it to broaden its reach.
Lucy explains, “Partnering with Commission Factory allows us to unlock a wide network of affiliates who can authentically promote our brand to a wider audience.”
By tracking performance in real-time and optimizing campaigns, CLUTCH Glue is building a sustainable, data-driven growth strategy.
Future Plans
Looking ahead, CLUTCH Glue has ambitious plans for expansion and innovation. Annabel envisions “CLUTCH available in every 7/11 store, in every major supermarket and pharmacy.”
With new products in the pipeline, CLUTCH Glue is committed to sustainability and versatility.
“I’ve been cooking up a storm in the lab and have some incredible first-of-their-kind products that will rock everyone’s world! Goodbye single-use waste, hello sustainable AND reliable products,”
Annabel shared.
As the brand’s distribution footprint expands, CLUTCH Glue is on track to become a global household name.
Closing Remarks
CLUTCH Glue’s journey from a personal solution to a Shark Tank success story showcases the power of perseverance and innovation. CLUTCH Glue has plans to expand its distribution network and introduce new eco-friendly products.
With these initiatives, the brand is poised to make a lasting impact on the fashion industry. Annabel encourages aspiring entrepreneurs with wise advice:
“Just start! 80% solution always! Don’t try and get it perfect; you’ll figure so much out as you go along.”
For those eager to solve wardrobe challenges and embrace style confidently, CLUTCH Glue is the adhesive revolution to watch.
We’re closely following the company to bring you valuable insights. Stay tuned for the latest updates on CLUTCH Glue!