Naja, which appeared on Season 6 of Shark Tank, is a luxury lingerie brand founded by Catalina Girald, a Nueva Latina businesswoman. The company was launched in 2013 and made a mark by offering high-quality, fashionable innerwear at affordable prices.
Naja not only stands out for its colorful and sassy lingerie collections, but it’s also known for its commitment to sustainability and social causes. Naja’s ethical manufacturing process is one of its most noteworthy features.
Naja primarily employs Colombian single mothers working from home, providing them higher salaries than the market. It showcases a blend of social responsibility and commerce by contributing a portion of each sale to Girald’s Underwear for Hope initiative.
This project educates single mothers in Colombia on sewing, enhancing their earning potential and offering them better career opportunities.
Naja’s eco-friendliness is another major selling point. The brand utilizes recycled materials to manufacture its products, reducing environmental impact. This commitment to sustainability, luxury, and affordability, sets Naja apart from other brands in the market.
Naja’s collections are known for their bold, vibrant designs. They’ve gained public attention through their collections like the “Free the Bush” and the fast-food-inspired series. The brand is also proud of not using Photoshop in its advertising campaigns, promoting a body-positive message to its audience.
Despite being primarily an online brand, Naja has made significant strides in the market. Though it didn’t secure a deal on Shark Tank, the brand continues to grow, reflecting a positive business outlook.
Naja is a good choice for consumers looking for luxury, affordability, and sustainability in lingerie while supporting a brand that positively impacts the lives of its employees and upholds strong ethical values.
|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|
|Net Worth||$3 Million|
What Is Naja?
Naja is a women’s underwear and swimwear company that sells luxury lingerie, employs many single mothers who work from home, and sells eco-friendly lingerie made from recycled materials.
Naja sets itself apart from competitors by focusing on ethical manufacturing processes and empowering women. Naja’s products are made by single mothers or female heads of households, where they are paid above-market wages and given benefits like health insurance and flexible work hours.
The brand is also eco-conscious, using digital and sublimation printing technologies to reduce water waste. Naja’s underwear includes a line made from recycled plastic bottles.
Who Is The Founder Of Naja?
The founder of Naja is Catalina Gerald. She is a motivated and ambitious entrepreneur who has utilized her skills and educational background to create a brand within the lingerie industry.
Her educational credentials include an MBA she reportedly received from Stanford University in Massachusetts. This is a point of confusion as Stanford University is located in California, and there might be an error in the text or a misunderstanding. Nevertheless, she appears highly educated and skilled in business management and entrepreneurship.
Before Naja, Catalina was from Silicon Valley, known for ideas and disruptive technologies. The inception of Naja can be traced back to a simple conversation with a partner at a bar, during which she scribbled the prototype of a lingerie set on a napkin.
The concept of Naja was born then, and Catalina was dedicated to making it a reality. Catalina envisioned Naja as a lingerie brand that could serve a greater purpose beyond just being another product in a crowded market.
The idea was to create a lingerie brand that was truly designed for women, with prints placed on the inside of the bras and panties. This was a departure from most lingerie brands marketed for men’s tastes.
Beyond the product design, she also wanted Naja to impact the world positively. Naja introduced the program “Underwear for Hope,” through which single mothers could earn wages sewing Naja’s lingerie.
Before appearing on Shark Tank, Catalina had already made significant strides with Naja. She raised $850,000 in Silicon Valley based on her vision for Naja.
She also established Naja’s own sampling and manufacturing facility, stocking all the raw materials required to make the lingerie, an advantage that allowed for flexibility in production schedules and faster lead times compared to other lingerie brands.
However, despite her efforts and the aspects of her brand, Naja faced challenges. The brand was new and still unknown to most people. Despite modest monthly growth, the company wasn’t yet a household name, despite increased sales.
Nevertheless, Catalina carried the confidence and determination of her brand’s potential into her Shark Tank pitch, seeking a substantial valuation and investment to expand Naja’s market presence and impact further.
How Was The Shark Tank Pitch Of Naja?
Catalina Girald, founder of Naja Lingerie, appeared on Shark Tank Season 6 seeking an investment of $500,000 for 5% equity in her company, valuing the company at $10 million.
Naja is a lingerie brand aimed at women, created to differentiate from traditional brands that were more oriented toward male customers. Catalina started her pitch by explaining her brand’s mission and value proposition.
Naja supports women not just through its messaging and products but also through its business model. The company trains and employs single mothers to manufacture its products, a practice that resonates with its ethical values.
She also displayed some lingerie items and distributed samples to the Sharks, who were initially impressed with the design. Regarding financials, Catalina shared that within 5 months before the show, Naja had generated $145,000 in sales.
The cost of production for each bra was $7, and they were sold for $60 on their website, resulting in an approximate gross margin of 72%. The average customer order on the website was stated to be $80.
However, the pitch took a downturn when the topic of company valuation came up. Catalina valued Naja at $10 million, which raised eyebrows among the Sharks, particularly Kevin O’Leary.
Catalina defended her valuation by arguing that she had raised significant funds in Silicon Valley. Despite her explanation, the Sharks had reservations about the high valuation.
Kevin O’Leary, known for his direct approach, offered $500,000 for a hefty 50% stake in the company, an offer Catalina quickly declined.
Mark Cuban expressed his concerns about the numbers and decided not to invest. Robert Herjavec liked the designs but felt it was too early for him to invest; hence he dropped out.
The remaining Sharks, Lori Greiner and Daymond John were also unconvinced by Catalina’s approach and her company’s valuation, so they decided not to invest. Therefore, Catalina did not secure a deal on Shark Tank and had to leave the tank without any investment.
However, despite not securing a deal, Naja has grown since its Shark Tank appearance.
Final Deal: No deal between Naja and Sharks.
What Happened To Naja After Shark Tank?
After its appearance on Shark Tank, Naja, the lingerie brand created by Catalina Girald, has continued to thrive and evolve despite not securing a deal from the sharks. The exposure from the show boosted the brand’s reputation and increased sales, indicating a positive effect on the business.
By 2023, Naja had expanded its product line, offering three bras – bralettes, unlined bras, and t-shirt bras, in various sizes, colors, and designs. These products ranged in price from $52 to $98.
In addition to bras, the company also offered a range of underwear styles, including bikinis, high-waisted undies, briefs, and thongs, many of which have matching bras.
The company even responded to global events by creating face masks during the pandemic, with 70% of the proceeds going to Soi Dog, a non-profit organization assisting stray dogs and cats.
Despite facing mixed customer reviews, criticism over customer service, and racially insensitive posts on social media, Naja has maintained a solid financial position.
As per the last information, Naja was bringing in more than $2.9 million in revenue annually, an impressive feat considering it did not receive investment from the sharks.
The brand maintains a strong online presence, with an active website and social media channels supporting product availability and customer engagement.
The brand Naja has shown resilience and growth after its Shark Tank appearance. Despite not receiving a deal from the sharks, the company utilized the platform’s exposure, expanded its product line, and stayed responsive to global trends, maintaining a strong market presence.
Even though it faced some customer service and public relations challenges, Naja has remained financially robust, indicating a strong post-Shark Tank performance.
Naja Shark Tank Update
Naja Lingerie, the premium lingerie brand founded by Catalina Girald, continued to thrive and grow after its appearance on Shark Tank despite not securing a deal from the sharks.
Naja Lingerie remains in business and offers a range of products, including bras and underwear in various designs and sizes, priced from $52 to $98.
They have expanded their product line to include face masks, with 70% of the proceeds donated to a non-profit organization that supports stray dogs and cats.
Customer reviews for Naja Lingerie are mixed, with some expressing satisfaction while others have raised concerns about quality and customer service issues.
Despite criticism, Naja has remained financially successful, generating over $2.9 million in annual revenue as of the last check.
Naja Lingerie maintains an active presence on social media platforms such as Instagram and Twitter, which helps them engage with their customers and reach a broader audience.
Naja Lingerie thrived after its Shark Tank appearance, utilizing the exposure to grow its product line and maintain a successful financial position.
Despite not receiving a deal from the sharks, the brand’s dedication to empowering women and offering eco-friendly products has contributed to its continued success.
Is Naja Still In Business?
Our research shows that Naja Lingerie is still in business. The company continues to offer a wide range of products, including different types of bras, such as bralettes, unlined bras, and t-shirt bras, available in various sizes, colors, and designs.
The Naja underwear collection includes bikinis, high-waisted undies, briefs, and thongs in various colors and patterns.
In response to the COVID-19 pandemic, they also began selling face masks. These masks are made by single mothers and female heads of households, with 70% of the proceeds going to Soi Dog, a non-profit organization that helps stray dogs and cats.
Naja Lingerie’s online presence remains active, with regular sales and promotional discounts available. Their website offers free shipping for orders above $100.
Customer reviews on review sites are mixed, with some customers praising their purchase while others complain about customer service and product quality. Despite these reviews, the company appears financially robust, with a reported annual revenue of over $2.9 million.
What Is the Net Worth of Naja?
According to our research, the net worth of Naja is estimated to be $3 million. The valuation of Naja was $10 million when it appeared on Shark Tank.
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