GoGo Gear Shark Tank Update

GoGo Gear Shark Tank Update – Where Are They Now?

GoGo Gear is the brainchild of Desiree Estrada and Arlene Battishill. Their creation is a fashionable line of motorcycle-specific clothing. So, was GoGo Gear on shark tank? Yes, it was. 

What is the GoGo Gear Shark Tank update? Arlene and Desiree appeared in the 3rd season of the 6th episode of Shark Tank. They sought $300,000 for a 15% share of the company from the Sharks. However, after several rounds of negotiations and analysis, they ended up with $500,000 for a 65% equity with Daymond John. 

Let us find out about the GoGo Gear shark tank update now from the discussion below. 

GoGo Shark Tank Profile

GoGo Shark Tank Profile

Here is an overview of information about GoGo Gear.

Company GoGo Gear
Founded in2008
ProductFashionable Motorcycle Gear 
FounderArlene Battishill and Desiree Estrada
Shark Tank EpisodeSeason 3, Episode 10
Air Date23rd March 2012
SharkDaymond John
Asked for$300,000 for a 15% share of the company
Final Deal$500,000 for a 65% share of the company
Business StatusIn business
Cost$149 for hoodies and $170 for leggings
WebsiteGoGo Gear
Net worth$7.5 Million (As of 2023)
HeadquartersLos Angeles, California
Deal after shark tankNot closed
CompetitorsYellow Jacket Bee, Rev Zillaa and Motochic
Watch OnAmazon Prime Video, Hulu, FubuTV

What Happened in the GoGo Gear Shark Tank Episode? 

Estrada and Arlene went to Shark Tank asking for $300,000 for a 15% equity. Their passion for their product was evident as they highlighted the crucial niche in the industry.

The Sharks liked the idea and the potential it held in the market. One of the Sharks, Mark Cuban, raised concerns about their future strategy and how they intended to utilize the $300,000. Battishill began giving an analysis of their past sales, saying that GoGo Gear had generated $172,000 in sales in 2009.

Therefore, GoGo Gear’s aim for the future was to take its products to Europe. Mark Cuban challenged them to present a concrete strategy for transitioning their business to Europe. Kevin O’Leary bowed out first, expressing concerns about the company’s valuation and lack of a solid business plan. 

What Happened in the GoGo Gear Shark Tank Episode

Barbara Corcoran and Robert Herjavec also had reservations about their prospects in the European market and decided to pass on the opportunity. With only Daymond John remaining, the determined creators returned to the tank with an improved offer, hoping to secure a deal. 

Robert Herjavec expressed interest in rejoining the deal, but he wanted more equity than they were offering. Estrada attempted to increase the equity from 15% to 38% to accommodate Robert’s request, but he demanded more. 

After several rounds of negotiations, the founders offered Daymond John a whopping 65% equity stake to Daymond John, hoping to secure his expertise and guidance for their business. In the end, Daymond John accepted the offer.

What Happened To GoGo After Shark Tank?

For the GoGo Gear update, the aftermath of their Shark Tank appearance took an unexpected turn. GoGo Gear and Daymond mutually agreed to end the deal. This decision was influenced by the recession period’s effect on GoGo Gear. 

The company faced a significant loss of retailers during this period. However, Daymond John stayed devoted to GoGo Gear as an advisor and supported the brand on his Twitter network. 

Desiree’s and Arlene’s efforts finally paid off in 2015 and GoGo Gear effectively expanded its sales to Europe, resulting in a significant increase in overall sales. 

To reach a wider audience, GoGo Gear advertised its items on Amazon. This has attracted many customers who commended its products due to the superior Kevlar material. 

GoGo Gear today is still a thriving business, and its product line has expanded. They now sell abrasion-resistant leggings, coats, and hoodies. The jackets are significant since they are CE-approved. This protection is detachable and is strategically placed on the shoulders, elbows, and back.

GoGo Gear Net Worth

In 2023, GoGo Gear has experienced remarkable growth and success since its appearance on Shark Tank. Back then, the business was valued at $461,000, with an estimated net worth of $2 million. However, fast forward to the present, and the company’s net worth has soared to an impressive $5 million. 

GoGo Gear Net Worth

The founders, Desiree Estrada and Arlene Battishill have also seen a significant increase in their net worth, now standing at approximately $3 million. As of 2021, GoGo Gear’s revenue is $7.48 million, while its net worth is estimated to be $7.5 million as of 2022.

GoGo Gear Sales Data

During 2008, GoGo Gear’s sales were $172,000. However, as years have passed, these sales have gone up to $7.48 million. Here is a table showing GoGo Gear’s yearly sales data.

YearSales Data
2008-2009$172,000
2010-2015$2,000,000
2016-2018$5,000,000
2019-2021$7,480,000

Is GoGo Gear Profitable Now?

Yes, it is. The table above illustrates the steady increase in their yearly sales revenue, culminating in an impressive $7.48 million in recent data. This showcases the steady growth GoGo Gear has had. 

Is GoGo Gear Profitable Now

Their ability to adapt to market demands, expand their product range, and enter new markets has been pivotal in achieving profitability. By combining safety, style, and quality in their motorcycle gear, they have carved a unique niche in the industry.

As we journeyed through the exciting developments of GoGo Gear since their appearance on Shark Tank, it’s clear that the show offers a significant platform for budding entrepreneurs. If your culinary interests are piqued, then you might be fascinated by Oatmeals and their innovative approach to a timeless breakfast classic. Check out how they’ve transformed the oatmeal game in our Oatmeals Shark Tank update. For those with a passion for outdoor adventures or simply in need of a reliable light source, the XTorch offers a versatile solution. Discover its features and its journey post-Shark Tank in our XTorch Shark Tank update.

Conclusion

Desiree Estrada and Arlene Battishill founded the company, and their appearance on Shark Tank marked a turning point in their journey. Although they did not receive the intended capital from Daymond John, the exposure and advice they received set the stage for their future success.

GoGo Gear overcame initial challenges, steadily building its brand and expanding its product line. The company’s valuation and net worth have grown significantly over the years, with sales reaching an impressive $7.48 million. 

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