Cincha Travel Shark Tank Net Worth

Cincha Travel is a brand that offers innovative travel accessories designed to simplify and enhance travelers’ experiences. The company was founded by Ashley Sharma and James Baker Jr., who were frustrated by the lack of stylish and functional accessories to secure personal bags and luggage. 

Their goal was to create a solution that was affordable and visually appealing and addressed this common travel problem. The product showcased on episode 19 of season 14 of Shark Tank is the Cincha Travel Belt.

This functional travel accessory is more than just a fashion brand, as it offers practical features that make it an essential part of any modern traveler’s toolkit.

The Cincha Travel Belt securely attaches personal bags to luggage, providing peace of mind and convenience during travel.

The Cincha Travel Belt is designed to be adjustable and versatile, catering to different tastes and preferences. It comes in various patterns and colors, allowing travelers to choose the one that suits their style.

The belt is made of high-quality materials to ensure durability and longevity, making it a reliable choice for frequent travelers.

Cincha Travel Belt stands out for its commitment to social causes. Initially, for every Travel Belt sold, the company donated three meals worth of food to local food banks in the Bay Area, resulting in over 3,300 meals donated.

However, since March 2021, Cincha has shifted its focus to its travel origins and partnered with Miles4Migrants, a non-profit organization.

Now, for each Travel Belt purchase, Cincha donates 100 airline miles to help reconnect separated migrant families. To date, Cincha has donated over one million miles, demonstrating its dedication to social impact.

In summary, the Cincha Travel Belt is a stylish and functional accessory that simplifies travel experiences. Its adjustable design, variety of patterns and colors, and high-quality materials make it a reliable choice for travelers.

Additionally, Cincha’s commitment to social causes, particularly its partnership with Miles4Migrants, showcases the brand’s dedication to making a positive impact in the world.

By choosing the Cincha Travel Belt, travelers not only enhance their journeys but also contribute to the meaningful cause of reuniting migrant families.

Company NameCincha Travel
FounderJames H. Baker and Ashley M. Sharma
ProductTravel belt and belt bag design brand
Investment Seeking$200,000 for 15% equity
Final Deal Accepted$100,000 + $100,000 as a line of credit for a 25% equity
Shark NameBarbara Corcoran
EpisodeS14 E19
Business StatusIn Business
WebsiteVisit Website
Net Worth$1 Million

What Is Cincha Travel?

Cincha Travel is a brand that offers cargo straps designed to secure bags and luggage to rolling suitcases. The Cincha Travel Belt is adjustable and aims to provide stability and ease of use when traveling with multiple bags.

Cincha Travel Belts & Bags is a travel accessory company that aims to simplify and enhance travelers’ experiences while also making a positive impact on the world. They offer creative and attractive travel items that cater to the needs of modern travelers.

Cincha Travel Belts & Bags provides a range of innovative products, including the Travel Belt Bag and the Travel Belt. The Travel Belt Bag is a versatile and practical item that can hold essentials such as keys, wallets, passports, and phones while on the go

 It can be used as a sling or as a travel belt with a trolley pass-through function. Made of recycled and water-resistant nylon, it comes in five classic colors.

Cincha Travel Shark Tank Net Worth

The Travel Belt, which is Cincha’s signature product, securely attaches personal items to baggage handles, providing hands-free convenience during travel. It comes in various vibrant colors and can be personalized with monograms.

The Travel Belt features vegan leather accents, herringbone-patterned nylon, a quick-release metal clasp, and an elastic slip to ensure compatibility with most trolley handles.

Cincha Travel Belts & Bags aims to offer not just functional travel accessories but also a brand that supports social causes.

They have actively supported efforts to help migrant families reconnect. Initially, the company donated three meals worth of food to local food banks for every Travel Belt sold.

Since March 2021, they have been offering 100 airline miles for each Travel Belt purchase to assist separated migrant families in reuniting. In collaboration with the non-profit organization Miles4Migrants, Cincha has contributed over one million miles.

The cost of Cincha Travel Belts & Bags ranges from $31.99 to $35.99, depending on the product. These items can be purchased on the company’s website or Amazon.

The brand has received positive feedback from customers for its high quality, convenient design, and commitment to social issues.

Who Is The Founder Of Cincha Travel?

James Baker and Ashley Sharma founded Cincha Travel. Both founders are passionate travelers who experienced frustration with the lack of stylish and functional accessories for securing personal bags to luggage.

This led them to conceive the idea of creating Cincha Travel, a brand that aims to simplify and enhance travelers’ experiences while making a positive impact on the world.

Before appearing on Shark Tank, Cincha Travel operated as a small business based in Oakland, California. James and Ashley worked from their apartment, focusing on designing travel products that catered to diverse tastes and preferences.

They were committed to creating a brand that went beyond being a travel accessory provider and sought to make a positive impact on the greater good.

During this time, Cincha Travel developed its flagship product, the Travel Belt. This innovative accessory securely attaches personal bags to luggage handles, providing hands-free convenience during travel.

The Travel Belt features vegan leather accents, herringbone-patterned nylon, a quick-release metal buckle, and an elastic slip to ensure compatibility with most trolley handles. It was designed to be both affordable and visually appealing, meeting the needs of modern travelers.

Cincha Travel also offered the Travel Belt Bag, a versatile and functional accessory designed for travelers and busy individuals. This bag could hold essentials such as phones, passports, wallets, and keys while on the go.

It could be worn as a stylish sling or used as a Travel Belt with the trolley passthrough feature. The Travel Belt Bag was made from upcycled and water-resistant nylon, and it came in five classic colorways.

Before appearing on Shark Tank, Cincha Travel had already gained a reputation for its commitment to social causes. They donated three meals worth of food to local food banks for each Travel Belt sold, and they also partnered with the non-profit organization Miles4Migrants.

Through this partnership, Cincha donated 100 airline miles for each Travel Belt purchase to help reconnect separated migrant families, resulting in over one million miles donated to date.

Cincha Travel, before appearing on Shark Tank, was a small business that focused on providing innovative travel accessories while actively supporting initiatives to make a positive impact on communities in need.

How Was The Shark Tank Pitch Of Cincha Travel?

The founders of Cincha Travel, James Baker and Ashley Sharma, presented their product on Shark Tank Season 14. They were seeking a $200,000 investment in exchange for 15% equity in their business.

Cincha Travel offers stylish travel belts that secure personal bags onto larger luggage, making airport travel easier.

Cincha Travel Shark Tank Net Worth

During the pitch, James shared the company’s sales numbers. In 2019, they generated $5,000 in gross revenue, which increased to $32,000 in 2020 and over $250,000 in 2021.

They projected sales of over $1 million in 2022 and had already generated more than $800,000 in revenue year-to-date. All sales were direct-to-consumer.

Guest sharks Gwyneth Paltrow, Mark Cuban, and Lori Greiner showed no interest in investing.

However, Barbara Corcoran was interested and made an offer of $200,000 for 33% equity. She proposed that half of the investment would be in the form of a credit line instead of cash.

Kevin O’Leary also made an offer, requesting $200,000 for 20% equity. In addition, he wanted a royalty of $4 per unit until he recouped his investment, followed by a reduced royalty of $0.50 per unit indefinitely.

James and Ashley countered Barbara’s offer by asking for a 25% equity stake. Barbara accepted their counteroffer, resulting in a final deal of $200,000 for 25% equity, with half of the investment as a credit line.

Here is a table summarizing the Shark’s names, their initial investment offers, the counter offer by the founders, and the final deal accepted by the founders:

Shark’s NameInvestment OfferedFounder’s Counter OfferFinal Deal Accepted
Barbara Corcoran$200,000 for 33%25% equityYes
Kevin O’Leary$200,000 for 20%Not acceptedNo

After Shark Tank Season 14, Cincha Travel continued to operate successfully. The exposure from the show helped them lower their customer acquisition costs and improve profitability. Their products are available on the Cincha website and Amazon.

Did Cincha Travel Get a Deal on Shark Tank?

Cincha Travel appeared on Shark Tank in Season 14, Episode 19, which aired on April 7, 2023. The entrepreneurs behind Cincha Travel, James Baker and Ashley Sharma, sought a $200,000 investment for 15% equity in their business.

Barbara Corcoran offered to invest $200,000 for 33% equity, while Kevin O’Leary offered $200,000 for 20% equity with a $4 per unit royalty. However, James and Ashley successfully negotiated with Barbara, securing a deal of $200,000 for 25% equity.

After their appearance on Shark Tank, Cincha Travel experienced a surge in sales, with their travel belts quickly selling out. They also gained media attention from outlets such as BuzzFeed, Architectural Digest, CNN, and “The View.”

Cincha expanded its product line to include the Belt Buddy, The Barb Bundle, the Italian collection, socks, and more. Despite their success, Cincha remained committed to their charitable efforts, including donating airline miles to help reunite migrant families.

Cincha Travel did secure a deal on Shark Tank, receiving a $200,000 investment from Barbara Corcoran in exchange for 25% equity in the company. Their appearance on the show led to increased sales and media attention, allowing them to expand their product line while continuing their charitable initiatives.

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What Happened To Cincha Travel After Shark Tank?

After appearing on ABC’s “Shark Tank,” Cincha Travel experienced a significant boost in its business. During the show, entrepreneurs James H. Baker and Ashley M. Sharma pitched their stylish travel belts, which secure personal bags to suitcases for easy commuting.

They received offers from two sharks: Barbara Corcoran offered $200,000 for a 33% stake, while Kevin O’Leary offered $200,000 for a 20% stake with a royalty deal. Baker and Sharma counteroffered Corcoran, securing a better deal with a 25% stake.

Cincha Travel Shark Tank Net Worth

The exposure to Shark Tank had a tremendous impact on Cincha’s sales. Their travel belts sold out after the episode aired, and the brand received coverage from various news sites.

Cincha was featured in BuzzFeed’s list of the coolest products from Shark Tank in 2023, and they were mentioned in Architectural Digest, CNN, and The View. To capitalize on their success, Cincha expanded their merchandise list, introducing the Belt Buddy and “The Barb Bundle.”

Cincha’s ongoing success can be attributed to several factors. Their continuous launch of new editions, such as the Italian collection, keeps customers engaged.

Additionally, Cincha’s philanthropic mission of donating meals and airline points to connect separated migrant families resonates with customers. The brand’s presence on Instagram, with playful memes and stylish photos, further contributes to its appeal.

Looking ahead, Cincha plans to continue innovating and expanding its brand. The global travel bags market is growing, and with their compelling product and financial support from Barbara Corcoran, Cincha is well-positioned for success.

Despite some criticism regarding the cost-effectiveness of their belts, Cincha’s specialized design and attractive aesthetics make them a preferred choice for travelers.

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Cincha Travel Shark Tank Update

After appearing on Shark Tank, Cincha Travel received funding of $100,000 from Barbara Corcoran in exchange for 25% equity and an additional $100,000 as a loan. This investment helped the company to develop further and expand its business.

Since their appearance on the show, Cincha has continued to refine and expand their product line. They introduced new travel accessories, such as a minimalist passport holder and a versatile travel tote, focusing on functionality, style, and durability.

Cincha also expanded its online presence, making its products available on popular e-commerce platforms. They invested in online advertising and social media marketing to spread the word about their innovative travel solutions. Additionally, they focused on providing exceptional customer satisfaction and maintaining high-quality standards.

Cincha Travel Shark Tank Net Worth

Customer reviews have been positive, with customers praising the quality, functionality, and security of Cincha’s belts and bags. The products have been well-received and utilized by frequent travelers.

The brand’s best-selling travel belts sold out after the episode aired on television, indicating a positive response from customers. Cincha Travel continued to operate successfully and is still in business with a net worth of $1 million.

The company has been featured in various media publications, including Travel Pulse, Travel Noire, and HuffPost. With its unique and stylish travel belt and belt bag designs, Cincha Travel aims to provide a comfortable and fashionable travel experience.

The current estimated worth of Cincha Travel is $1 million, and the brand is expected to benefit from the projected growth of the luggage & bags industry, which is estimated to reach $28.73 billion globally in 2023.

Cincha Travel’s appearance on Shark Tank brought significant exposure and success to their business. Their commitment to innovation, style, and social responsibility has earned them a well-deserved place in the travel gear industry.

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What Is the Net Worth Of Cincha Travel?

According to our research, the net worth of Cincha Travel is estimated to be $1 million. The valuation of Cincha Travel was $400,000 after securing an investment from Barbara Corcoran on season 14 of Shark Tank.

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