Entrepreneurs Frank Scozzafava, and Adam DiSilvestro, pitched their swimwear line during
If you’re short on time, here’s a quick overview of what happened to Mix Bikini after
Frank Scozzafava, and Adam DiSilvestro appeared on
|Accepted deal for $50,000 for 25% equity
Shark Tank Mix Bikini Update
- Entrepreneur: Frank Scozzafava and Adam DiSilvestro
- Business: Interchangeable swimsuits
- Ask: $50,000 for 5% equity
- Result: $50,000 for 10% equity
- Shark: Barbara Corcoran
Frank and Adam walked into the tank accompanied by models showing off the interchangeable swimsuits, from their brand Mix Bikini. Basically, every part of the suit is interchangeable, and designable on their website.
They then showed the sharks exactly how the business worked, and how women could go about customizing their choices to end up with a variety of unique pieces.
Robert Herjavec wanted to know about sales, but Frank said they’d just had their soft launch, and sales were minimal. Daymond John was put off by this information, but Barbara Corcoran was interested in knowing what the prices were.
Frank said every part retailed for $9.99, with a full bikini between $40 and $50. He also said they wanted to open up a kiosk, which would cost around $25,000 just to build.
In terms of the kiosk, their vision is that women can pull various pieces together, to design their own custom suit. Then, the more swimsuit parts that she collects, the more suit combinations she can create over time.
The guys say this appeals to those who don’t want to be seen on the beach in the same suit as someone else. Although, it would also be a nice feature for women who don’t want to travel with several suits.
However, Daymond was wary of the valuation, and the other sharks joined him when it seemed the business duo hadn’t agreed on the equity stake before entering the tank. Eventually, Adam stated that they wanted $50,000 for 10%.
Kevin O’Leary wanted to know if they would license the business model, although there seemed to be more confusion from Frank and Adam.
Their lack of preparation eventually made Mark Cuban go out. It then came out that Frank and Adam had up to $500,000 to invest, but they really wanted the sharks’ expertise.
Daymond said it wasn’t that easy, so for that reason, he went out.
Kevin said he wanted to make money, and didn’t see how he could make it with this business model. Frank got fired up with the criticisms, and asked Barbara for her woman’s opinion.
Barbara said she thought there were too many moving parts to imagine the product in retail, but she saw the potential in the business. She offered $50,000 for 25% equity.
After some hesitation, Mark told them to accept her offer, and they finally did.
Frank and Adam left the tank with a deal, but what came next, following
Our Mix Bikini update reveals that several setbacks made Barbara realize that the investment was doomed to fail. Despite a rebrand, Mix Bikini has closed down, and the swimsuits are no longer available.
However, it turn out that one of their creative partners, Kelsey Duffey, brought the concept into a new brand called Versakini, but unfortunately, that company has also closed down.
This will be our final Mix Bikini update.
Would you like to know more about the other companies appearing on Season 3 Episode 14? Follow the links below to get the details on them.
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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!