Shefit, the ultimate sports bra, is pitched by Bob and Sara Moylan in Shark Tank episode 716.
Sara has been Miss Michigan Teen USA (1999), Mrs. Michigan America (2001), and Miss Michigan USA (1st runner-up) in the past.
Fitness America is also one of her competitions. Sarah has worked out for years, but her boobs have restricted her.
Sara has always had to reduce the intensity of her workouts because she has a lot of breast tissue, resulting in breast soreness.
She designed her own sports bra after becoming frustrated with ineffective sports bras ten years ago.
Shefit’s prototype was created with a glue gun, an old bra, and some other materials – this was her first try at creating the product.
Sara took her “design” to a seamstress who created a “real” prototype when other well-endowed women at the gym inquired about her bra.
She wanted an adjustable sports bra that provided incredible support and fit.
The adjustable sports bra concept was successfully crowdfunded through Kickstarter in 2013, with just over $22,000 raised to develop the final product. Amazon and other online marketplaces are currently selling large quantities of it.
The shark would assist the Moylan’s in locating more cost-effective products and opening up access to retail outlets. Will a Shark come to Shefit’s aid?
What Is Shefit?
Shefit provides women with comfortable sportswear that fits and supports their body types.
They are known for the first and only fully-adjustable sports bra, the Shefit Ultimate Sports Bra, which allows for a custom fit and a controlled level of support.
Recently, they have expanded their product line with other products too. Shefit also provides leggings, shorts, tops, and workout accessories.
Shefit is dubbed “The Ultimate Sports Bra” with good reason. It is highly adaptable because of its adaptable design. The ribbed bust band can be adjusted by more than 8 inches.
The result is less bounce and less instability. The Shefit bra maintains a flattering shape by providing control without compression.
Additionally, the garment is made from wicking fabric, which wicks moisture away from the body. This reduces sweat and mess!
Shefit bras are available in sizes to accommodate a wide range of women. These bras provide maximum support regardless of their size.
It features a customized bust band and adjustable straps. You can experience security and comfort in three simple steps: Zippered bust panel, cinched back band, and lifted straps.
This will help to tighten the bra and keep everything in place. One bra offers traditional “H-Back” straps and a two-way “X-Back” strap configuration; both implementations provide unwavering support.
|Product||Sports bras with adjustable zip-ups that can be customized|
|Investment Asking For||$250,000 For 20% equity in SheFit|
|Final Deal||$250,000 For 33% equity in SheFit|
|Episode||Season 7 Episode 15|
|Business Status||In Business|
Who Is The Founder Of Shefit?
Sara Moylan founded Shefit and serves as its Chief Creative Officer. Moylan graduated from Central Michigan University with Integrated Public Relations and Communications degree.
From 2004 to 2012, she was a Senior Pharmaceutical Sales Representative for Eli Lilly and Company, and then from 2014 to 2017, she was a Senior Medical Device Sales Representative for Acelity Inc.
She is still the Chief Commercial Officer of Shefit today, empowering women worldwide. Her active lifestyle was a goal for Sara Moylan, as she wanted to stay active while expecting her first child.
Sara wasn’t the type to sit by and do nothing, so the sports bras she had were simply too small.
She created the prototype for the fully adjustable sports bra SHEFIT. A Kickstarter campaign enabled her to reach her goal and even go over it slightly. How about the Sharks? How would they respond?
Shefit Before Shark Tank
Moylan is the quintessential entrepreneur who understands the importance of risk-taking and hard work.
Shefit was created after she struggled to find a sports bra that was supportive enough for her body type.
She attempted everything she could but kept failing, resulting in her loss of confidence, which, in turn, created a decrease in motivation to continue competing.
She knew that she needed to resolve this issue to prevent other girls from going through the same thing.
She made her prototype in 2011 using a maternity bra and a hot glue gun.
She then hired a seamstress to assist her in developing a more functional prototype, and over the next decade, invested nearly $400,000 in Shefit.
Online rave review forced Shefit to relocate manufacturing overseas to meet demand and relocate production from Los Angeles.
How Was The Shark Tank Pitch Of Shefit?
Sara and Bob appeared on the Shark Tank seeking a $250,000 investment in exchange for 20% equity in Shefit.
The SheFit bra is introduced by Sara as the “only fully adjustable, customizable bra” available on the market, demonstrating the features and then giving out free samples. Robert Herjavec joked he’ll use it this evening in the gym.
Lori Greiner comments on the padding’s thickness. Sara clarifies that the padding can be removed.
Her patent application covers the compression and adjustability features and the wicking material.
Mark Cuban is interested in discussing numbers. Bob makes the sales presentation. Within the past 18 months, the women have sold $220,000 worth of SheFit bras.
The last 45 days have seen the sale of $50,000. Around half of the recent sales have come from e-commerce, while the remaining half came from 19 retailers.
Within 90 days, Sara plans to pursue SheFit full-time while still holding her current sales position.
Lori admires their determination and organization but wants to know how they intend to utilize the investment.
Bob explains that approximately 70% of the funds will reduce inventory costs, increase supply, and shorten lead times.
Sara mentions that they have yet to develop an effective website and have used Facebook ads or word of mouth to market.
There are impressive margins with a manufacturing cost of $14.20 and a retail price of $58.99.
Robert doubts Sara’s ability to reimagine the women’s activewear market based on the numbers, but the Sharks are impressed by the numbers.
“When you talk about creating an entirely new market,” Robert says, “you’ve lost me. I’m leaving.”
Kevin O’Leary appreciates the fact that extreme adjustability reduces the number of SKUs. On the other hand, Lori is concerned that the patent may be challenged due to existing products.
Daymond John is confident he can make a valuable contribution to the organization.
He is willing to pay the $250,000 asking price, but he wants 33 percent of the company and an immediate response in exchange for that.
Sara and Bob contemplate the offer for a moment before accepting it. Sara admits that she wanted to work with Daymond.
Final Deal: Daymond John agreed to invest $250,000 For a 33% stake in Shefit.
What Happened To SheFit After Shark Tank?
Many celebrities have worn Shefit since Daymond John first funded the project. Olympian Val Smith has been wearing Shefit for years.
The Doctors and The Today Show have both featured the company.
The modest following of Shefit appears to be growing despite the short time since the episode aired. You can buy the adjustable sports bra from the company’s website.
Shefit Shark Tank Update
Daymond John’s participation in SheFit has generated celebrity endorsements, including Olympian Val Smith.
The Today Show invited Bob and Sara to appear after the episode of The Doctors featured their bra.
There is no doubt that SheFit is gaining traction in women’s wardrobes, even if it is too early to predict the trajectory the product will take.
The Amazon price is $99.99, more than double the website price of $58.99, but the products are selling quickly.
The fact that over 20,000 Google Trends searches have been made for a truly customized, well-fitting bra indicates that women are willing to pay for one.
SheFit might be a good fit for Daymond John with his investment in the company.
SheFit is still open for business in August 2021 and generates $7 million in revenue.
Is Shefit Still In Business?
Shefit is still going strong today and has no signs of slowing down. The company’s website contains thousands of reviews showing how the products help women of all body types be confident and comfortable while exercising.