Rareform, a Bags and backpacks company, was started by Alec Avedissian and Aric Avedissian in April 2012. As of April 2024, Rareform net worth is over $10 million and they’re pulling in a whopping $6.3 million in annual revenue.
In March 2017, they appeared on Season 8 of Shark Tank USA and made a deal with Kevin O’Leary, for $300,000 for 18% of equity. The final valuation was $1.66 million, down from the founder’s initial estimate of $3 million.
Rareform is still in business. With the help of Shark Tank, they were able to attract many trustworthy customers. And now you can purchase their products online through their official website.
Rareform Net Worth
| Net worth | $10 million (2024) |
| Annual Sales Revenue | $6.3 million (2023) |
| Profits | – |
| Lifetime sales | – |
| Shark Tank Investor | Kevin O’Leary |
| Founder | Alec Avedissian and Aric Avedissian |
| Employees | 18 |
Rareform Net Worth Timeline
| Net Worth 2024 | $10 Million |
| Net Worth 2023 | $10 Million |
| Net Worth 2022 | $10 Million |
| Net worth valuation 2017 after appearing on Shark Tank | $1.6 Million |
| Net worth valuation 2017 before appearing on Shark Tank | $3 Million |
Rareform Pitch on Shark Tank
| Company name | Rareform |
| Product | Bags and backpacks made out of recycled billboard vinyl |
| Episode | Season 8 Episode 19 |
| Founders | Alec Avedissian and Aric Avedissian |
| Asked for | $300,000 for 10% equity |
| Final deal | $300,000 for 18% equity |
| Shark | Kevin O’Leary |
| Location | Agoura Hills, California |
Don’t miss these product from Season 8
Rareform Founders
Rareform was founded by Alec Avedissian and Aric Avedissian in 2012. Alec Avedissian is the founder and CEO of Rareform. He is a graduate of the University of Southern California and has a background in marketing and business. Aric Avedissian, is the co founder of the company. And He is a graduate of the University of California, Los Angeles in engineering. Rareform’s founders, Alec Avedissian and Aric Avedissian, net worth is unavailable. However according to the deal of the Shark Tank pitch, they had 82% equity in the company. One of the main worth of the Alec Avedissian and Aric Avedissian is Rareform. Therefore Alec Avedissian and Aric Avedissian should have more than $1.36 million net worth as of 2024.
Key accomplishments
| Year | Accomplishment |
| 2017 | Appeared on Shark Tank season 8 and Kevin O’Leary invested $300,000 for 18% equity. |
| 2018 | Became the certified B Corp |
| 2022 | Launched its first line of home goods. |
Conclusion
From their beginnings on Shark Tank to their current status as a thriving business, they have proven that with the right idea and execution, anything is possible. We can’t wait to see the future for Rareform and its continued success.
