Cincha Luggage Belt Update | Shark Tank Season 14
James Baker and Ashley Sharma came up with the idea for Cincha while dealing with the common frustration of carry-on bags sliding off their luggage during trips. This inspired them to create a travel belt that keeps smaller bags securely attached to suitcases, making it easier to move through airports without the hassle of falling bags. The belt not only makes travel simpler but also helps migrant families by donating frequent flyer miles with each purchase. Will this be a business the sharks would love to invest in? Find out in our Cincha update and pitch recap.
If you’re short on time, here’s a quick overview of what happened to Cincha after
James and Ashley entered
In terms of a Cincha update, the company experienced a surge in demand following its
| Shark | Result |
| Barbara Corcoran | Accepted offer of $200,000 for 25% equity, half of the cash as a credit line |
| Kevin O’Leary | $200,000 for 20% with a $4 royalty until he recoups $200,000, which then drops to $0.50 in perpetuity |
| Lori Greiner | No offer |
| Mark Cuban | No offer |
| Gwyneth Paltrow | No offer |
Shark Tank Cincha Pitch
- Entrepreneurs: James Baker and Ashley Sharma
- Business: Travel belts
- Ask: $200,000 for 15% equity
- Result: Â $200,000 for 25% equity plus a $100,000 line of credit
- Shark: Barbara Corcoran
James and Ashley walked into
They asked for an investment to help them expand production and grow their marketing efforts to reach more travelers.
James and Ashley started their pitch by talking about how frustrating it can be to travel with bulky bags.
AS SEEN ON SHARK TANK - See for yourself why the Cincha Travel Belt became such a hit on the TV show, Shark Tank.
TRAVEL HANDS-FREE – Cincha luggage straps secure your personal bag to your carry-on or checked luggage handle, so you can maneuver through the airport hands-free.
Cincha is a travel accessory designed to simplify airport travel by securing smaller personal bags for larger luggage.
These belts are made from durable, high-quality materials and come in various colors and patterns. In addition to traditional belts, Cincha offers bags with built-in straps for added convenience.
The belts work by wrapping securely around both the smaller bag and the handle of a rolling suitcase, ensuring the bags stay in place throughout the journey.
This innovative design prevents items from toppling over, making it especially useful for busy travelers who value efficiency and order.
The sharks took a closer look at the belts. Lori Greiner said they were strong and felt like the material used for car seatbelts.
Furthermore, James explained that the company started small, earning $5,000 in 2019. They grew to $32,000 in 2020, $250,000 in 2021, and reached $830,000 in 2022.
All their sales were direct to customers online. They told the sharks they wanted help getting into airport stores and other retail spaces to reach more travelers.
Since they were running the business on their own while keeping their full-time jobs, they needed a partner to help them grow.
The sharks gave their feedback. Gwyneth loved the product and admired their stories but decided it wasn’t the right fit for her.
Mark Cuban said something similar and stepped out.
Lori passed too because she already worked with a company that made a similar product.
Barbara Cocoran, however, believed in their potential. She said people who face challenges in life often become great entrepreneurs.
She offered $200,000 for 33% of the business, with half of the money as a credit line.
Kevin O’Leary also made an offer. He wanted $200,000 for 20% equity, with a $4 royalty on each unit sold until he got his money back, and then a smaller royalty of 50 cents per unit after that.
After thinking it over, James and Ashley countered Barbara’s offer, asking her to take 25% equity instead.
Barbara agreed, and they made the deal, both entrepreneurs left with a new partner to help them take Cincha to the next level.
To find out what happened next for their company, keep reading our Cincha update.
Shark Tank Cincha Update
Our Cincha update found that the deal with Barbara Corcoran closed successfully.
Further, their
Moreover, Cincha expanded its product line to include items like the Belt Buddy, a detachable case with a travel belt for easy access to essentials.
They also introduced themed collections, such as the Italian collection launched in July 2023.
Cincha continued its commitment to social causes by donating over one million airline miles to reunite migrant families through a partnership with Miles4Migrants.
At the time of this writing, the company reported an annual revenue of approximately $5 million.
You can visit their official website for more information on their products, latest offerings, and company updates.
If we get another Cincha update we will let you know.
Do you want to learn about the other companies featured in Season 14 Episode 19? Follow the links below for our other company updates from the episode.
Before you go, check out our Shark Tank Season 14 page for more updates.
Jeremy is a regular contributor at Shark Tank recap. He has a ton of passion for the show and enjoys researching information about what all the companies are up to now. His favorite Shark Tank companies are The Cookie Dough Cafe and Kronos Golf!