The Handbag Raincoat Shark Tank Update | The Handbag Raincoat Net Worth

The Handbag Raincoat is an innovative product featured on Season 10 of the hit television show Shark Tank. It is essentially a protective covering designed to safeguard expensive handbags from the elements, most notably rain, thus prolonging life and maintaining the aesthetic appeal of the handbags.

This unique product is shaped to accommodate various handbag styles, including totes, satchels, and backpacks. It is available in multiple sizes to suit different handbag dimensions and designs. 

Furthermore, it is made from a transparent water-repellent material, allowing the handbag’s design to remain visible even when covered. For ease of use, the Handbag Raincoat includes an easy-to-use fastening system that holds it securely in place, preventing the wind from blowing it away.

The Handbag Raincoat Shark Tank Update

The Handbag Raincoat’s high functionality is a key factor that makes it a good choice. It offers practical and effective protection for handbags against rain, snow, dust, and dirt, preventing potential damage and wear. 

This can be particularly beneficial for individuals who own high-end or designer handbags, as these can be costly to replace or repair. Moreover, the Handbag Raincoat’s transparency ensures its design is not obscured, so users can continue showcasing their style even in inclement weather. 

The portable and lightweight design is perfect for on-the-go individuals who want an accessory they can easily store in their handbag. The Handbag Raincoat is a valuable investment for anyone seeking to protect their handbags while maintaining their style thanks to its clever design and practical application.

Company NameThe Handbag Raincoat
EntrepreneurArley Sarner and Morgan Sarner George
Product / BusinessFashionable water-resistant covering for handbags
Investment Asking For$300,000 for 25% equity in The Handbag Raincoat
Final DealNo Deal
SharkNo Shark
The Handbag Raincoat Episode Season 10, Episode 2
The Handbag Raincoat Business StatusOut Of Business
The Handbag Raincoat WebsiteVisit Website

What Is The Handbag Raincoat?

The Handbag Raincoat is a solution to protect fancy handbags from getting damaged by rain. With leather handbags that cost thousands of dollars, people often wrap them in raincoats, hide them under umbrellas, and get soaked. 

Thus, the Handbag Raincoat Company was created with a waterproof slot that allows the handle to slide through.  The handbag remains dry without sacrificing style, thanks to this innovative design. 

No more wet handbags or ruined leather! The Handbag Raincoat comes in various sizes to fit all kinds of handbags. With its sleek and transparent design, the Handbag Raincoat preserves the beauty of your handbag while keeping it safe and dry from the elements. Say goodbye to damaged handbags and hello to fashionable protection with the Handbag Raincoat.

The Handbag Raincoat keeps any luxury handbag safe and dry in the wettest weather. The Handbag Raincoat is a must-have accessory for anyone who loves designer bags but wants to protect them from the elements. It comes in various colors and sizes to fit the most popular designer bags. 

With the Handbag Raincoat, you can step out confidently in any weather, knowing your precious handbag is safe and sound. Don’t let the rain ruin your style – get a Handbag Raincoat today!

The Handbag Raincoat Shark Tank Update

Who Is The Founder Of The Handbag Raincoat?

Entrepreneur Morgan Sarner and her sister  Morgan George created the Handbag Raincoat. However, the story behind her idea for the Handbag Raincoat is quite interesting and relatable.

Sarner’s inspiration for the Handbag Raincoat was born out of personal necessity. Like many handbag enthusiasts, she was frequently concerned about the potential damage that unpredictable weather could cause to her precious and often expensive handbags. 

One day, while in the rain, she grew frustrated with trying to protect her handbag by stuffing it under her coat. That’s when she came up with a raincoat for her handbag, a protective covering that could shield it from the elements. 

With this novel idea, Sarner set out to bring her concept to life, creating a product that combined functionality and style. This led to the birth of the Handbag Raincoat. 

Since its launch, the product has gained widespread attention and popularity, even featuring on the reality TV show Shark Tank, where budding entrepreneurs seek to gain business investments. It’s a testament to Sarner’s ability to identify a common problem and develop a creative and practical solution.

The Handbag Raincoat Before Shark Tank

Handbag Raincoat had already made significant progress before appearing on Shark Tank. Their entrepreneurial journey began in 2015 when they came up with a brilliant solution to a common issue women face daily: the unfortunate ruining of their expensive handbags due to rain.

Their unique idea garnered attention from renowned publications such as Us Weekly, Vogue, Oprah magazine, and even a featured mention in Parade Picks. They generated substantial sales and caught the eye of many smaller fashion blogs, further enhancing their success.

They have also secured partnerships with prominent retailers such as The Container Store, Bed Bath and Beyond, and Nordstrom. They gained widespread recognition and acceptance for their water-repellent plastic purse protector developed through these collaborations.

Morgan was a fashion major in college before she started her own business. She was an assistant fashion designer at the renowned high-end handbag company Rebecca Minkoff. She used this invaluable experience to shape her vision and create the foundation for her new brand.

How Was The Shark Tank Pitch Of The Handbag Raincoat?

The Handbag Raincoat pitch on Shark Tank was met with mixed reactions. Some Sharks were impressed with the product and its potential, while others were concerned about the competition and the company’s lack of experience.

The sisters, Morgan and Arley Sarner, entered the Tank seeking $300,000 for 25% of their business, valuing The Handbag Raincoat at $1.2 million. They told the Sharks that they had been selling the Handbag Raincoat for about a year and a half and had generated $600,000 in sales. 

They also said that they were selling the product in about 100 Bed Bath & Beyond stores and were in talks with Nordstrom and The Container Store.

The Sharks were impressed with the product and its potential. Mark Cuban said he loved the product and thought it was a “great idea.” Kevin O’Leary said that he thought the product was “unique” and could see it as a big hit. 

Lori Greiner said that she thought the product was “clever” and that she could see it being a “must-have” for women.

However, the Sharks were also concerned about the competition. Daymond John said that he thought the product was “too easy to copy” and didn’t think the company had enough experience to protect its intellectual property. 

Robert Herjavec said the product was “a commodity” and didn’t think it was worth investing in.

Ultimately, none of the Sharks made an offer on The Handbag Raincoat. The sisters were disappointed but said they were grateful for the opportunity to pitch their product to the Sharks.

Final Deal: No deal between Sharks and The Handbag Raincoat.

What Happened To The Handbag Raincoat After Shark Tank?

The Handbag Raincoat did not get a deal on Shark Tank. The sharks were concerned about how much money it would take to stop other companies from stealing the product’s design.

The Handbag Raincoat was short for the other sharks to drop out for similar reasons, forcing Morgan and Arley to leave without a deal.

Unfortunately, there’s no sign of the Handbag Raincoat company on the internet anymore. The company’s website is no longer active, and its social media accounts have been inactive for several years.

The company has closed down, but it is also possible that they have rebranded or changed their name. It is difficult to say what happened to the Handbag Raincoat after appearing on Shark Tank. However, the company could have achieved the success that it had hoped for.

The Handbag Raincoat Shark Tank Update

After appearing on Shark Tank, the Handbag Raincoat, a product designed to protect handbags from rain, faced various outcomes. The founders of the Handbag Raincoat, Morgan and Arley Sarner, introduced their invention on Shark Tank. Their product gained popularity through the show and received media coverage.

The Handbag Raincoat is a polyurethane cover in different sizes and prints, designed to keep handbags dry in the rain. It features a Velcro closure and a small storage pouch. Despite not securing a deal on Shark Tank, the Handbag Raincoat remained affordable and offered various options for customers.

Unfortunately, the Handbag Raincoat company faced challenges following its appearance on Shark Tank. Mark Cuban, Barbara Corcoran, and other sharks declined to invest, expressing concerns about the company’s vision and protecting the product’s design.

The Handbag Raincoat Shark Tank Update

As a result, the Handbag Raincoat company is no longer active, with the website and social media accounts inactive. The company’s challenges aligned with the sharks’ initial instincts.

The Handbag Raincoat ceased operations, and Morgan Sarner transitioned to a different career while Arley’s involvement with the company ended in December 2019.

While the Handbag Raincoat company no longer exists, similar products inspired by their idea can still be found online, including on platforms like Amazon. These products provide water-repellent handbag covers, protecting against rain.

In summary, the Handbag Raincoat gained attention and popularity after appearing on Shark Tank but faced challenges that led to the company’s closure. However, similar products inspired by the concept of protecting handbags from rain can still be found online.

Is The Handbag Raincoat Still In Business?

According to our research, the Handbag Raincoat company is no longer in business. After their appearance on Shark Tank, the company faced challenges and eventually shut down.

The website and social media accounts associated with the Handbag Raincoat are inactive. The company seems to struggle with copycat products and legal battles with imitators.

While the Handbag Raincoat gained popularity and secured retail partnerships before Shark Tank, it ultimately went out of business. In conclusion, the Handbag Raincoat company is no longer in business today.

What Is the Net Worth Of The Handbag Raincoat?

According to our research, The Handbag Raincoat has a net worth of $0 since the company went out of business. The valuation of The Handbag Raincoat was $1.2 million when it appeared on Shark Tank. 

Also, read other notable businesses from Season 10 of Shark Tank:

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