$1Mfor 10%
Protein Candy
Valued at $10M
The pitch
Ryan Fields from Calgary, AB, pitched RareForm Underwear in Season 11, Episode 2, asking the Dragons for $100K for 40% of the company.
- Asked for$100K for 40%
- Valuation$250Kimplied by the ask
- OutcomeDealwith Manjit Minhas and Joe Mimran
- Final deal$100K for 50%valued at $200K
Offers in the Den
| Dragon | Offer | Result |
|---|---|---|
| Manjit Minhas and Joe Mimran | $100,000 for 50% | Accepted |
| Joe Mimran | joint offer with Manjit Minhas | Accepted |
| Michael Wekerle | Market too narrow, out | Out |
| Jim Treliving | Not a target segment, out | Out |
| Michele Romanow | Not big enough, out | Out |
Ryan Fields, from Calgary, AB, asked for $100,000 for 40% of Rareform Underwear, a company selling hip hop and street art inspired premium men's underwear made from a four-way stretch wicking material. The underwear retails for $45, with a cost of $9 per pair including packaging, which uses a can that costs $2.60 each; margins were said to reach 71% at scale. The company had sold 2,986 pairs, generating about $125,000 to $130,000 in sales, with 95% direct to consumer and 5% through stores, and Ryan Fields had personally invested $52,500 through inheritance and a mortgage.
Michael Wekerle offered to partner and help with collaborations tied to his club, the El Mocambo, but was outbid when Manjit Minhas and Michael Wekerle joined forces. Jim Treliving went out citing the segment was not one he could help with, and Michele Romanow went out saying the product was not big enough for her. Manjit Minhas and Michael Wekerle offered $100,000 for 50%, combining marketing, distribution, and cost-reduction help, which Ryan Fields accepted.
Pitch details from CBC’s Dragons’ Den pitch page.
RareForm Underwear today
- StatusStatus unknownLast checked September 2026
We haven’t confirmed whether RareForm Underwear is still operating.