Roq Innovation aims to create products to make everyone’s life a little easier. The company’s flagship product is Headlightz, perfect for situations where you need an extra hand in the dark. Raquel Graham pitched her stylish hats on Shark Tank and struck a deal with Kevin O’Leary and Peter Jones. Currently, Roq Innovation is worth an estimated $3 million.
Raquel’s Journey
Raquel Graham is a mother of two based in Chicago, Illinois. She holds a BA in History (with an Economics minor) from Wesleyan University and earned her MBA from Northwestern University’s Kellogg School of Management in 2009, while working full-time and having her second baby.
Raquel started her career as an operations analyst at JP Morgan. Around this time, she founded her first company, ROQ Marketing Group, In 2002, she served as the vice president of EBONY Media.
Founding Roq Innovation
Roq Innovation officially launched in 2014. The first product wasn’t a hat, it was NEKZ, a line of faux fur scarf alternatives Raquel created after her own kids refused to wear traditional scarves. NEKZ sold out within an hour of its 2016 HSN launch, validating that there was a market for problem-solving fashion.
In 2017, Raquel launched her flagship product: Headlightz, a winter beanie with a removable, rechargeable 140-lumen LED light built into the brim. The idea came from her own evening runs when no existing headlamp solution was comfortable enough to wear regularly.
Raquel applied for a patent on the hands-free LED winter beanie in 2018. By the time she pitched on Shark Tank in 2022, Roq Innovation had hit $2.4 million in lifetime sales, with $1.1 million of that coming from Headlightz in 2020 alone. The patent was still pending.
Shark Tank Recap
Raquel Graham was a one-woman show and appeared on season 13 of Shark Tank, seeking $200,000 for a 15% equity stake.
The Sharks loved her energy and were impressed with sales. Despite a strong start, the pitch was a bit rocky as the Sharks didn’t like that the patent was still pending at the time. Kevin O’Leary made the first move and wanted a royalty deal in perpetuity.
Guest Shark Peter Jones then proposed a simple offer of $200,000 for 25%. After a heated discussion, the two agreed to invest $200,000 for 20% and $1 royalty per hat until they recovered $600,000. Desperate for a deal, Raquel accepted the offer.
Shark Tank Update: The Future of Roq Innovation
The episode was a turning point. The deal with Kevin and Peter has since been treated as closed by both parties, with Peter Jones helping Roq Innovation secure additional funding. The patent on the hands-free rechargeable LED Winter Beanie also finally came through after the show, addressing the Sharks’ biggest concern during the pitch.
The numbers tell the story. Roq Innovation has logged over $4 million in sales since the Shark Tank appearance, on top of the $2.4 million in pre-show lifetime sales. The Headlightz Beanie alone now has more than 1,000 reviews on Amazon.
The brand has also continued racking up high-profile recognition:
- Oprah’s Favorite Things in 2021, 2022, and 2023 (three years running)
- Chicago 2022 Minority Supplier of the Year
- Featured on The View, Good Morning America, The Drew Barrymore Show, Forbes, Black Enterprise, Entrepreneur, and CNBC
- Highlighted on Amazon’s homepage in the Black-Owned Businesses category
Raquel has continued launching new products too. Handy Lightz, a flashlight glove using the same LED mechanism as Headlightz was added to the lineup post-show, alongside expanded Headlightz baseball caps, headbands, a Tie Dye Collection, and Face Maskz. Pricing now ranges from around $14.99 for accessories to $29–$39 for premium beanies and caps.
Distribution has expanded beyond the Roq Innovation website and Amazon. Products are now stocked at retail partners including Tortoise & Hare, Queen Elizabeth Ladies Gaudy Fashions, Luya Shoes, and Seliga Shoes. Roq also had a multi-year run on HSN from 2017 to 2022. Raquel moved operations from her original Chicago warehouse to a dedicated shipping facility as the business outgrew its early infrastructure.
You can check out the full product line at roq-innovation.com or on Amazon. Roq Innovation is estimated to be worth around $3 million, roughly triple the $1 million valuation deal-implied valuation, and a clear win for Raquel and both her Sharks.
