Entrepreneuer Erin Robertson, pitched her specialized towel during
If you’re short on time, here’s a quick overview of what happened to Ta-Ta Towel after
Erin Robertson appeared on
|Accepted deal for $200,000 for 40% equity
Shark Tank Ta-Ta Towel Update
- Entrepreneurs: Erin Robertson
- Business: Specialized Towel Bras
- Ask: $200,000 for 10% equity
- Result: $200,000 for 40% equity
- Shark: Lori Greiner
Erin Robertson brought her company and product, the Ta-Ta Towel, to
The Ta-Ta Towel is terry cloth on one side, with super soft liner on the other. This inevitably makes it both absorbent, and comfortable to wear.
It also happens to be reversible, so it’s a pretty flexible product. Erin created this product for women to wear when they get out of the shower, or to wear around the house.
In terms of fit, there is a way to cinch it tighter around the neck, which ultimately keeps everything secure, and supported.
The sharks are interested to know about a patent, and Erin says the Ta-Ta Towel is both patented and trademarked in the U.S. and in China.
She then passed out a few samples. The sharks wanted to dive into the numbers and actually negotiate. Erin values her company at $2,000,000, but the sharks wanted to ask several logistical questions about the company’s past performance before believing that valuation.
Erin revealed that she can sell the Ta-Ta Towel for around $45, while having manufacturing costs at approximately just half of that. She really managed to shock the sharks when she said she had more than $1,000,000 in sales during the past year, all of which have come from sales on her own website.
One important question remained, if she’s doing so well, why does she need the assistance of a shark?
After the sharks learned that many of her sales came from a viral social media incident, other profit projections started to not add up.
Mark Cuban decided to drop out once he learned of these discrepancies.
Robert Herjavec doesn’t agree with Erin’s business strategy, so he drops out next.
Likewise, Kevin O’Leary is concerned about Erin’s business plan. He doesn’t think the investment is there, so he is out too.
Barbara Corcoran shared the concerns of the other sharks, and wasn’t comfortable investing. For this reason she dropped out next.
That left only Lori Greiner still in on the negotiations, and she definitely seemed interested in making an offer.
She told Erin that she would need to have half of Ta-Ta Towel, in order to make a deal. However, Erin quickly countered with 15% instead.
They eventually struck a deal for $200,000 for 40%, so Erin would partner with Lori Greiner to try and blow up her business.
Did it work out following
Research for our Ta Ta Towel update reveals that the company is still in business. Further, they’ve expanded quite successfully.
In addition to the Ta-Ta Towel, Erin now also sells a tube top version, pajama shorts, robes, and hair towels.
They are now prominent on Instagram, and continue to sell products on the Ta-Ta Towel website, as well as on Amazon.
The future still remains bright for Ta-Ta Towel as they continue to come up with new ideas to add to their product catalog.
If we learn anything new about this company, we will certainly let you know. In the meantime, you can find our other company updates from Season 10 Episode 2 by following the links below!
For even more on companies and products, be sure to stop by our Season 10 products page!
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!