You’ve seen million-dollar ideas on Shark Tank but what happens when the hype fades? Hegs Pegs, a clever clothespin invention from Australia, once captured headlines with its bold pitch and Shark backing.
Now in 2025, we uncover the real story behind the company’s fall, revival, and current status that’s turning heads again.
What Happened to Hegs Pegs on Shark Tank?
Hegs Pegs started with a simple idea: a peg with hooks to hold laundry better and avoid ugly crease marks. Founder Scott Boocock brought this invention to Shark Tank Australia and scored a deal with Naomi Simson $100,000 for 15% equity and a $280,000 loan.
At the time, Scott believed his company was worth $3.8 million, but the deal implied a valuation of approximately $666,666, and the journey ahead was anything but smooth.
Hegs Pegs Net Worth 2025 – What’s the Real Value?
As a private company, Hegs Pegs’ exact net worth in 2025 is not publicly available. To estimate its value, we considered several factors:
- Past and Projected Revenue: In 2015, revenue was on track to hit AUD 1 million. With growth, 2025 revenue could be around AUD 2–3 million.
- Recent Sales Growth: Strong sales in Coles, Woolworths, and Walmart show increased demand.
- New Products: Eco-friendly pegs with 50% recycled plastic expand the product line, boosting revenue.
- Customer Loyalty: Positive user reviews indicate a strong customer base.
- Market Comparison: Similar household goods companies are valued at 1–2 times their revenue. Using a 1.5x multiplier, Hegs Pegs’ value could be in the low millions.
Without financial disclosures, this estimate is speculative but reflects ongoing sales, product redesign success, and a solid customer base. The brand’s bounce-back makes it a standout case of resilience.
🤔 If you were a Shark, would you have invested in Hegs Pegs back in 2015?
The Inventor’s Journey
Scott Boocock, the brains behind Hegs Pegs, once worked on cruise ships before becoming a full-time entrepreneur.
He got the idea for Hegs when a standard peg left marks on his wife’s black dress. That single moment sparked a business that would go global. Boocock hustled—securing patents, improving the product, and pitching it to retailers. But despite early wins, the company hit a financial wall.
In 2019, Hegs Pegs went into voluntary administration after never turning a profit. It was later sold to Steven and Christie Thompson, who now run the brand, as reported by The West Australian.
What Changed After the Collapse?
After the company changed hands, one of the first moves was fixing the flaw in the original hinge design.
The new Hegs Pegs are more durable and available in eco-friendly versions using 50% recycled plastic. Production now includes Mobilong Prison, where inmates help package the product an unusual but notable part of the brand’s story. The redesign and social impact helped rebuild trust, and customers continue to buy the upgraded product in stores and online.
Where Can You Find Hegs Pegs in 2025?
Hegs Pegs are available in:
- Coles and Woolworths (Australia)
- Walmart and Amazon (North America)
- East Marine Asia, JB Hi-Fi, and other online stores
They’re often praised for reducing ironing and saving space-though those claims are mostly based on user reviews, not independent testing.
RELATED: TOP 15 MILLIONAIRES FROM SHARK TANK AUSTRALIA
What Can Entrepreneurs Learn From Hegs Pegs?
This story teaches us that a great idea isn’t enough. Execution, design, funding, and long-term planning all matter.
Even with Shark support, businesses can fall but the right pivot can bring them back stronger, as noted by Heard Phillips Lieberenz. Whether you’re launching a product or just watching Shark Tank
🔹 TL;DR (Too Long; Didn’t Read)
Hegs Pegs rose to fame with a clever invention, hit financial collapse, and came back stronger with a new design and ownership.
Still available in major stores, its story shows that even post-failure, brands can reinvent and thrive.
FAQs
Is Hegs Pegs still in business in 2025?
Yes, Hegs Pegs is still active in 2025 and available in major stores like Coles, Woolworths, Walmart, and Amazon.
Did Hegs Pegs get a deal on Shark Tank?
Yes, Scott Boocock secured a deal with Naomi Simson—$100,000 for 15% equity and a $280,000 loan.
What happened to Hegs Pegs after Shark Tank?
The company faced financial issues and went into administration in 2019, but was later revived by new owners.
Who owns Hegs Pegs now?
Hegs Pegs is now owned by Steven and Christie Thompson, who redesigned the product and expanded distribution.
Where can I buy Hegs Pegs in 2025?
You can purchase Hegs Pegs at Coles, Woolworths, Walmart, JB Hi-Fi, East Marine Asia, and Amazon.
What is the estimated net worth of Hegs Pegs in 2025?
While exact figures are unavailable, the brand’s estimated worth is likely in the AUD 3–5 million range based on market activity.