SheFit Shark Tank Update

SheFit: The Revolutionary Sports Bra

SheFit, the ultimate sports bra, was introduced by Bob and Sara Moylan on Shark Tank in season 7, episode 16. SheFit is a brand that offers innovative and supportive activewear, particularly known for its sports bras.

Designed with adjustable straps and customizable fit options, SheFit’s products cater to women of all shapes and sizes, providing comfort and confidence during workouts.

The brand focuses on empowering women to feel secure and comfortable while engaging in physical activities, whether at the gym or during outdoor adventures.

SheFit’s commitment to quality and functionality has made it a popular choice among fitness enthusiasts looking for reliable and stylish activewear that meets their individual needs.

You can explore the range of products on their website to discover how SheFit can help you improve your workout.

Sara, a former beauty pageant winner and fitness enthusiast, struggled with finding a sports bra that provided adequate support for her well-endowed chest, leading her to design her solution over a decade ago.

Sara was frustrated by the lack of effective sports bras on the market, so she designed the prototype of SheFit using simple materials like a glue gun and an old bra.

Sara refined the prototype with a seamstress after other women at the gym noticed the innovative adjustable design.

SheFit: The Revolutionary Sports Bra

SheFit Ultimate Sports Bra was born from this need for a customized fit and exceptional support.

Successfully crowdfunded in 2013, Shefit raised over $22,000 to bring the product to life. Today, Shefit is widely available on platforms like Amazon, offering women of all sizes comfortable and supportive sportswear.

The brand’s expansion includes a range of products such as leggings, shorts, tops, and workout accessories to complement the iconic Shefit sports bra.

The Shefit Ultimate Sports Bra stands out for its adjustable features, including a ribbed bust band that can be modified by over 8 inches, reducing bounce and providing stability without sacrificing comfort.

Made from moisture-wicking fabric, the bra keeps sweat at bay, ensuring a dry and comfortable workout experience.

Sara Moylan, the founder of Shefit, is a dedicated entrepreneur with a background in pharmaceutical and medical device sales.

Her passion for empowering women through innovative sportswear has driven the success of Shefit, offering women around the world a solution to their workout woes.

With a focus on quality, support, and comfort, Shefit continues to revolutionize the activewear industry with its groundbreaking products.

In conclusion, Shefit’s journey from a homemade prototype to a globally recognized brand is a testament to Sara Moylan’s vision and dedication to providing women with top-notch sportswear that enhances their active lifestyles.

Shark Tank Success Story: SheFit’s Innovative Bra Secures Deal with Daymond John

Sara and Bob made a captivating appearance on the popular television show Shark Tank, where they pitched their innovative product, SheFit, in exchange for a $250,000 investment for a 20% equity stake in their company.

Sara demonstrated the SheFit bra as the market’s only fully adjustable and customizable bra during the pitch, impressing the Sharks.

Robert Herjavec even joked about using the bra at the gym later that evening.

Lori Greiner inquired about the thickness of the padding, to which Sara explained that the padding was removable.

The duo highlighted their patent application, emphasizing the compression, adjustability features, and the wicking material used in the SheFit bras.

Shark Tank Success Story: SheFit's Innovative Bra Secures Deal with Daymond John

Mark Cuban expressed interest in the financial aspect, leading Bob to present their impressive sales figures.

Over the past 18 months, SheFit has generated $220,000 in sales, with $50,000 in sales recorded in the last 45 days. Notably, half of the recent sales were from e-commerce channels, while the other half came from 19 different retailers.

Sara shared her plan to transition to working full-time on SheFit within 90 days, alongside her current sales role.

The Sharks commended their determination and organizational skills but sought clarity on how the investment would be utilized.

Bob outlined that 70% of the funds would be allocated to reducing inventory costs, increasing supply, and shortening lead times.

The Sharks were intrigued by the impressive profit margins, with a manufacturing cost of $14.20 and a retail price of $58.99.

While some doubts were raised about the market potential by Robert, the Sharks were impressed by the business metrics presented overall.

In the end, after considering offers and feedback from the Sharks, Sara and Bob accepted Daymond John’s proposal of a $250,000 investment in exchange for a 33% stake in SheFit.

Sara expressed her excitement about collaborating with Daymond to take SheFit to new heights.

Final Deal: Daymond John agreed to invest $250,000 For a 33% stake in Shefit.

The Rise and Evolution of SHEFIT: A Success Story Post “Shark Tank”

After appearing on the popular show “Shark Tank,” SHEFIT experienced a significant surge in sales. Sara Moylan shared with Success that they quickly sold out of their 4,000-item inventory even before finishing their pitch.

The SHEFIT team collaborated with suppliers and factories to streamline production, resulting in a presale of 16,000 units scheduled for the end of April, thanks to the assistance of Daymond John.

Following the exposure on “Shark Tank,” SHEFIT’s revenue skyrocketed to $1.5 million in the same year.

The brand garnered attention from various media outlets like “Inside Fitness Magazine,” “Women’s Running Magazine,” and “Runner’s World,” praising its adjustable design.

To further enhance their product line, SHEFIT committed to introducing new styles and improvements in 2017.

Despite the common trend of “Shark Tank” success stories fading over time, SHEFIT has defied the odds by sustaining its growth.

Women’s Wear Daily reported a remarkable increase of over 3,400% in top-line revenues from August 2016 to August 2019.

The Rise and Evolution of SHEFIT: A Success Story Post "Shark Tank"

Even amidst the challenges posed by the COVID-19 pandemic, SHEFIT thrived due to its direct-to-consumer approach, resulting in high demand and customer loyalty.

Social media, particularly TikTok, played a pivotal role in boosting SHEFIT’s online presence. The brand witnessed a surge in site visits following viral TikTok videos, as highlighted by CMO Erik Lautier in an interview with Glossy in 2021.

Furthermore, a study published in the International Journal of Exercise Science in 2019 affirmed the effectiveness of the SHEFIT Ultimate Sports Bra in minimizing bounce during physical activities.

Years after its appearance on “Shark Tank,” SHEFIT continues to expand its brand and attract new customers seeking supportive and adaptable sports bras.

With a strong presence on platforms like Instagram and TikTok, SHEFIT has amassed a significant following, including endorsements from influencers and athletes.

Notably, in 2022, the brand secured a multi-year partnership with USA Pickleball, solidifying its position as the Official Sports Bra Partner of the sport.

While the Moylans remain actively involved in the company alongside a dedicated team, SHEFIT faced internal challenges, as reported by Detroit Free Press in November 2022.

Despite a partial resolution of a lawsuit within a few months, allegations of misconduct, including tax evasion and discrimination, raised concerns about the brand’s reputation and future trajectory.

SHEFIT continues to offer its signature Ultimate Sports Bra and a range of athletic wear, catering to a diverse customer base. SheFit is still in business and thriving, with an estimated net worth of $10 million.