BootayBag Shark Tank Update: Business Booming or Doomed?
Elly Ghano, the founder of BootayBag, enters the tank with an enormous ask, $500,000, in exchange for a 5% stake in her company! The company promises to offer comfortable and tantalizing undies to women.
However, what is the BootayBag Shark Tank update now? Despite the highly competitive industry, Elly hooked the sharks’ attention with her subscription-based plans to get your desired undies at the doorsteps. Moreover, the pitch turned out great for Elly as Kendra Scott came on board with a fair deal of $500,000 for a 10% stake in BootayBag.
So, is her business booming or dooming after that? Let’s find out more on the BootayBag Shark Tank update here.
BootayBag Shark Tank Profile
Here are some of the BootayBag Shark Tank updates and info. Do read till the end!
| Company Name | BootayBag |
| Product | Subscription-based women’s underwear brand |
| Founder | Ellyette Gheno |
| Founded In | 2015 |
| Net Worth | $5 Million |
| Asking Investement in Shark Tank | $500,000 |
| Equity Stake | 5% |
| Valuation | $10 Million |
| Shark’s Offer | $500,000 for 10% equity |
| Final Deal | $500,000 for 10% equity |
| Deal Secured By | Kendra Scott |
| Shark Tank Episode | Season 12, Episode 2 |
| Aired Date | Oct 23, 2020 |
| Current Business Status | Ongoing business |
| BootayBag Headquarters | Denver, Colorado, the USA |
| BootayBag Website | Click Here |
| BootayBag Social Media | Facebook |
| Got to Amazon | Buy Now |
| Watch on | Amazon Prime Video |
Ellyette Gheno’s Journey: From an Employee to an Entrepreneur
Elly started her professional journey by being an employee in her mother’s salon. One day, Elly went to buy some underwear for herself but soon realized it takes a lot of time to get the fitting undies.
This spark initiated her to start her own underwear business; thus, BootayBag was born! She took a loan of $300, and within just 4 years, she generated a revenue of $15 million.
Today, BootayBag is one of the emerging underwear brands in the USA and also has grounds in southeast India.
What Happened to Bootaybag After Shark Tank?
Even before BootayBag aired in Shark Tank USA, it already had good numbers in sales. But the rates got a massive shot after Elly’s single-handed business secured the deal from Kendra Scott.
The $500,000 funding not only helped Elly to boost the manufacturing unit but also the marketing process. Plus, the BootayBag Shark Tank episode itself was quite a hit, adding the extra fame sauce to its booming sales.
All these events from Shark Tank resulted in BootayBag getting a boost in their business and getting a good grip on the competitive undie industry!
BootayBag Net Worth: The Numbers Will Shock You!
Elly has been confident during her pitch in the tank. Why won’t she? The sales have been lavishing, and her product samples were highly appreciated.
Around 2020, BootayBag crossed a grossing margin of $3 million and lifetime sales of $15 million. These numbers shocked the sharks and left them wondering why the company needed them.
BootayBag has been at the mercy of its brokers and is having a tough time with the inventory. So, having a worthy shark as a partner was the primary purpose she eventually got!
Now, in 2022, the company made over $10 million in revenue, and they believe they’ll get past the mark even this year!
BootayBag Sales Data
Here are the yearly sales data of BootayBag starting from 2020 to 2023.
| Years | Sales |
|---|---|
| 2020 | $3 million ($15 million lifetime sales) |
| 2021 | $4 million |
| 2022 | $10 million + |
| 2023 | The exact amount is not yet updated; however, it should be over $10 million |
Is BootayBag Profitable Now?
Despite having competitors like Victoria’s Secret and Third Love holding the undie industry, BootayBag managed to strike the sales with iron fists! BootayBag today has quite a grip in the industry and is one of the most profitable underwear businesses.
Elly even dreams of taking the company to new heights by bringing diversity to her products. She now has several stores along with her website showcasing her lavishing and intimate women’s underwear collections.
That’s not all; she’s also bringing in modern lingerie designs in bulk to ensure her products reach all her targeted women audience.
In a nutshell, BootayBag is booming, and most of the credit goes to the product quality and the connections it has built so far!
Current competitors of BootayBag
- Splendies
- Ellie
- Fabletics
- Yoga Club
- Adore Me
- Victoria’s Secret
- Third Love
- Marlies Dekkers
- Natori
- Knix
- Yandy
- Bare Necessities
- Wantable Active Edit
- Cosabella
- Savage X Fenty
Bottom Line
So, how was BootayBag on Shark Tank? In a word, “phenomenal.” All the sharks, including Mr. Wonderful, appreciated Elly’s outstanding entrepreneurial effort. Although Kendra Scott ultimately sealed the deal, ditching Barbara, which surprisingly proved profitable today.
BootayBag now has a massive presence in the underwear world, and it won’t be shocking to see Elly’s dream undie company turn into a unicorn.
Meta Description: Discover the BootayBag Shark Tank update and know whether the business is booming or doomed!
