Sarah Oliver Handbags Update | Shark Tank Season 7

ByAndrew Smith

Sarah Oliver spent time knitting with her grandmother and saw that many seniors in retirement homes had nothing to do and no way to earn money. She started Sarah Oliver Handbags, hiring them to knit luxury handbags so they could stay active and make extra income. Each bag came with a personal note from the person who made it, making it more special. But would the sharks see the value in this idea? Let’s get into our Sarah Oliver Handbags update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to Sarah Oliver Handbags after Shark Tank.

Sarah entered Shark Tank Season 7, seeking $250,000 for 20% equity in her knitted handbags and accessories business. She secured a three-way deal after her pitch with Lori, Kevin, and Robert for $250,000 for 30% equity.

In terms of a Sarah Oliver Handbags update, the company was forced to shut down due to regulatory concerns.

SharkResult
Robert Herjavec, Kevin O’Leary, and Lori GreinerAccepted offer of $250,000 for 30% equity
Barbara CorcoranNo offer
Mark CubanNo offer

Shark Tank Sarah Oliver Handbags Pitch

Shark Tank Sarah Oliver Handbags Update
  • Entrepreneur: Sarah Oliver
  • Business: Knitted handbags and accessories
  • Ask: $250,000 for 20% equity
  • Result: $250,000 for 30% equity
  • Sharks: Lori Greiner, Robert Herjavec, and Kevin O’Leary

Sarah entered Shark Tank, determined to turn her passion for craftsmanship into a business that empowers an overlooked community.

Her handbag company isn’t just about fashion; it provides senior citizens with purposeful work, allowing them to create hand-knitted designs from highland Peruvian wool.

She sought an investment to expand production into more retirement communities, ensuring the Purlettes +1 can continue their craft while scaling her brand to meet demand.

Sarah Oliver Handbags is a line of hand-knitted handbags crafted from highland Peruvian wool, each designed with custom brooches, chains, and magnetic snap closures.

These handbags are more than just fashion accessories. They hold deeper meaning, handmade by a group of senior citizens called The Purlettes +1.

These skilled artisans, with an average age of 88, craft each piece with care. Their work adds a unique, personal touch that makes every bag one of a kind.

Each handbag includes a note from the knitter, fostering a connection between the maker and the customer.

Barbara Cocoran questions whether Sarah’s venture is a business or a charity. Without hesitation, Sarah affirmed that it’s a business.

The total cost per bag, including labor, is $47, while retail prices range from $250 to $550. In 2014, she generated $300,000 in sales.

She emphasizes that she chose to work with the Purlettes not just for strategy but because she deeply appreciates senior citizens.

Each knitter produces around three bags per week, ensuring both quality and consistency.

Lori Greiner, moved by the way Sarah empowers the elderly, immediately steps in with an offer of $250,000 for 25% equity.

However, she proposes a collaborative approach, suggesting that all five sharks split the deal evenly at 5% each to make a statement.

Robert Herjavec sees the potential for massive growth and quickly jumps in, convinced that the business is poised to take off.

Kevin O’Leary wants to know exactly how much money they can make.

Sarah explains that she already partners with two retirement communities and has five more lined up, proving there’s room for expansion.

Meanwhile, Mark Cuban and Barbara remain unconvinced and decide to pass.

Kevin, however, offers $250,000 for 30% equity, to be split among himself, Robert, and Lori.

Without hesitation, Sarah accepts the deal, knowing it will thrill the Purlettes and shape their future.

Let’s take a look at our Sarah Oliver Handbags update to discover how the company is doing now.

Shark Tank Sarah Oliver Handbags Update

Our Sarah Oliver Handbags update confirms that the deal with Robert, Lori, and Kevin did not go through, possibly due to regulatory concerns.

In April 2017, the U.S. Department of Labor ruled that the company’s pay-per-piece model violated labor laws, which require hourly wages.

As a result, Sarah Oliver Handbags shut down, and the company took its website offline.

This will be our final Sarah Oliver Handbags update.

For more company updates from the products featured on Season 7 Episode 10, look no further:

Before you go, be sure to check out our list of all the Shark Tank Season 7 products. 

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Andrew is a lifelong fan of Shark Tank and an entrepreneur at heart. He started Shark Tank Recap because he wanted a single place to track what happens to the companies, founders, and deals after they air on TV. With a sharp eye for business insights and a passion for all things Shark Tank, Andrew makes sure every recap is accurate, engaging, and fun.