Elly Gheno was sick of the hassle of shopping for underwear at the mall. That’s why she created a subscription underwear line, so that women could try pieces on from the comfort of their home. Will she earn a deal on
Shark Tank BootayBag Update
- Entrepreneur: Elly Gheno
- Business: Subscription underwear service for women
- Ask: $500,000 for 5%
- Result: $500,000 for 10%
- Shark: Kendra Scott
Elly brought her company BootayBag to
The great thing about these leggings is the design: V-line shaped seems perfectly accentuate your curves. The power mesh technology in her waistband slims and provides support. The fabric: Soft and "squat proof" non see-through fabric with power mesh compression technology.
During her pitch, Elly shared that BootayBag had earned $15 million in sales since it launched in 2016, despite starting with a $300 investment. However, despite large sales numbers, the company was only earning a 5% profit margin, at the time of filming, leaving very little room for error or growth.
Guest shark Kendra Scott was the first to get down to business. She offered Elly $500,000 for 10% equity, which excited Elly as she shared what a huge fan she was of Kendra’s.
Barbara Corcoran was next, convinced that she could help Elly improve on her margins. She offered $500,000 for 20% equity.
At this point, Kendra and Barbara agreed to go in together on Barbara’s offer, but the offer wouldn’t last.
Kevin O’Leary was also interested and offered $500,000 for 15% equity. Mark Cuban and Lori Greiner, were both impressed with Elly, but dropped out because she already had good offers on the table.
As Elly contemplated the offers, she countered Kendra and Barbara to no avail, and at the last moment, Kendra decided to drop out of the deal with Barbara. She once again offered $500,o00 for 10% equity, and Elly accepted the deal!
What happened next for the company? Keep reading our BootayBag update to find out!
We have great news to share in our BootayBag company update! Our research revealed that the deal with Kendra did close, and the company is still going strong.
BootayBag eventually expanded their product line to include bodysuits, dresses, corsets, shorts, and leggings, with one of their athletic sets in particular bringing them a viral video on Tik Tok! Their large selection is available on the BootayBag website, along with some products on Amazon.
While originally customers could only purchase the undergarments through subscription, their products are now available for direct purchase. However, if you like the subscription model, that’s still a popular service!
Before you go, be sure to check out the other products that appeared on Season 12 Episode 2:
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Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!