Shark Tank episode 621 introduces Catalina Girald, a businesswoman who describes herself as a “Nueva Latina.” She pitched Naja (pronounced NIGH-YAH), a line of luxury innerwear at affordable prices.
Katalina founded Naja in 2013, with the aid of a Kickstarter campaign. Her educational and commercial background varied, but she based her company concept on her strong family values.
Naja is the latest in a long line of companies committed to social causes that have made Shark Tank appearances. Girald’s lingerie is manufactured at her uncle’s lingerie factory in her native Colombia.
Naja pays above-market rates to the single mothers who manufacture the finished product and the bags it comes in.
The Naja brand donates a portion of each sale to Girald’s Underwear for Hope initiative, which teaches single mothers in Colombia how to sew to increase their earning potential and career opportunities.
The lingerie collection of Naja is colorful, vivid, and sassy. Naja is a high-end brand at an attractive price.
Recently, they released a lingerie collection inspired by fast food, and their “Free the Bush” collection gained traction after Instagram banned pictures of women with unshaven bikini lines. Naja lingerie is currently only available online, but that may change in the future.
Ms. Girald is doing well. It’s likely she’s looking for Shark’s help in scaling rapidly and breaking through the retail distribution chain.
What Is Naja?
Naja is a firm that sells luxury lingerie and employs many single mothers who work from home and sells eco-friendly lingerie made from recycled materials.
You are automatically eligible for the Underwear for Hope campaign when you switch to Naja underwear.
Every purchase enables women to build confidence and provide them with the resources to establish a comfortable life for themselves and their children.
Naja Lingerie underwear is made by single mothers in Columbia, which happens to be the same place as Girald’s Family.
The Naja co-brand was founded shortly after Catalina immigrated to the United States and studied law. Her family has been in the lingerie business for several generations.
Among Naja’s charitable causes are the Underwear For Hope initiative and the Golondrinas Foundation.
|Product||Eco-friendly lingerie brand manufactures their products using recycled materials|
|Investment Asking For||$500,000 For 5% equity in Naja|
|Final Deal||No Deal|
|Episode||Season 6 Episode 22|
|Business Status||In Business|
Who Is The Founder Of Naja?
Catalina Girald is Naja’s founder, an MBA graduate from Standford. She pitched Naja to Shark Tank in March 2015.
Naja Before Shark Tank
Naja (pronounced Nih-Haya) is a startup that Catalina Gerald founded. She seeks a $500,000 investment in exchange for a five percent stake in the company while appearing on Shark Tank.
Catalina starts with Naja’s mission statement, in which she claims to believe the time is right for a new lingerie company. The Naja product outperforms other products, as well as being environmentally sound.
They offer an “Underwear for Hope” initiative that assists single mothers in learning to sew. A piece-by-piece payment is then given to these single mothers.
You are helping a woman in need every time you purchase a Naja product.
How Was The Shark Tank Pitch Of Naja?
Catalina enters Shark Tank asking for an investment of $500K in exchange for a 5% stake in the company.
Her firm is challenging the $14 billion women’s underwear industry, and the moment is right to launch a new lingerie brand.
She distributes samples, but Robert declines to try them on. Each piece of underwear contains a message.
Catalina claims to have earned $145K in five months. Robert is impressed by the margins of 72 percent.
Mr. Wonderful inquires about why the business is valued at $10 million; Catalina responds that the amount is based on previous fundraising efforts.
She claims to be a Silicon Valley venture capitalist and believes Mark would understand the valuation. Before this, the company had raised $850K at a valuation of $5 million.
For Naja, her brand is based on sourcing raw materials and manufacturing her goods.
Mr. Wonderful asserts that branding is everything, and she is not yet a brand. She justifies her valuation, and Mark asserts that the valuation is contingent on another party saying yes.
Mark is dissatisfied with her sales stats; he believes she should have a higher reorder rate than 14%; he believes there should be greater passion.
Mark exits, and Robert immediately follows. Mr. Wonderful believes the assessment is absurd; he asserts that she MUST MAKE MONEY.
Kevin says that if he were to provide $500K, he would require 50%; Catalina replies, “That won’t happen.” Kevin leaves.
Lori claims that some Silicon Valley entrepreneurs get swept up in fundraising and neglect to get down to “brass tacks.” She’s out.
Daymond asks Catalina if her negotiation approach fared well on Shark Tank, and Catalina answers that it did not.
Daymond claims she corrected the Sharks incorrectly, but he adores the designs. He claims he cannot compare to her opinion.
Mark asserts that she must make projections; Catalina estimates $14 million.
Lori inquires about the source of the figure; Robert asserts that the figure is irrational.
Daymond views the money invested as dumb money. He would have gone all-in if the valuation were more accurate, but he backed out.
Final Deal: No deal between Naja and Sharks.
What Happened To Naja After Shark Tank?
The review website Highya for Naja is three stars, with some mixed reviews in the recent past. The trustworthiness rating of a business is determined by its advertising.
Naja’s lingerie is yet to be reviewed by any women who have worn it, and it appears that the company is only doing Shark Tank for free publicity.
I scoured several internet forums and came across very little talk of Naja, but what I did find was very average — nothing positive or negative could be gleaned about the product.
Catalina might be giving the impression that she is being duplicitous with this appearance, using the humanitarian appeal of hiring single mothers to manufacture the products to make her brand appear more humane and united in its support of feminism.
Naja, which boasts of being a feminist organization and doing well globally, seems to be doing very little.
Nevertheless, credit, collections, and lines for Naja lingerie continue to be developed by Naja and Catalina.
Naja Shark Tank Update
Naja announced the discontinuation of its Active range (sports bras, shorts, and shirts) in September 2018 and the launch of its Everyday Organic-Cotton series with the “Let’s Get Real” marketing.
The inexpensive underwear collection is offered in various sizes ranging from 30A to 40DDD.
The company takes pride in not using Photoshop to alter the appearance of their models in their advertising campaigns.
Is Naja Still In Business?
You can see in the Naja.co interview with Glam how many different color combinations are available at the moment in this outstanding new start-up company only a few years old.
The primary comparison between Naja Lingerie and other premium brands such as Victoria’s Secret is pricing.
If a group of dedicated and reliable single mothers manufactures your product, it is incredibly difficult to compete, especially if your product and price point sell themselves.
Naja is still operating at a profit of $2.9 million per year as of January 2022.