SheFit, a line of sports bras for women that allow for adjustable support and comfort, first gained notoriety in 2015 as an online startup. In 2018, the company appeared on Shark Tank with great success and has since become one of the most popular companies to ever have been featured on the show.
The founder and CEO of SheFit, Sarah Taylor, saw her dream come true when she secured $500K from two investors after appearing on Shark Tank in 2018. Since then, SheFit has seen tremendous growth; they’ve expanded into retail stores across multiple countries while also introducing new products lines such as activewear tops and leggings.
However, despite its initial successes post-Shark Tank, some challenges lie ahead for the company – this article will examine these obstacles and how SheFit is working to overcome them.
Pre-Shark Tank History
In a world where start-up businesses are growing at an unprecedented rate, Shefit had already established itself as one of the most successful companies in its sector long before it stepped foot into the Shark Tank.
Founded by Sara Moylan in 2014, Shefit began with a simple goal: to create comfortable and adjustable sports bras for women who needed better support during physical activity. Using customer feedback and strategic business practices, Sara was able to build up her company’s presence across America and eventually expand overseas.
One aspect that made Shefit stand out from competitors was their mission to empower female athletes worldwide and give them the confidence they need when working out or doing any physical activity.
This became particularly evident when Sara decided to make all of her products available on a subscription basis; customers would receive discounts every month if they signed up for multiple bras. Such an innovative idea earned praise from customers everywhere, leading many to believe that this company has great potential beyond just providing quality clothing items – it could even change people’s lives!
With such success under its belt, it’s no surprise that investors wanted to get involved; after appearing on ABC’s hit show Shark Tank, Shefit quickly received offers from several high profile entrepreneurs including Mark Cuban and Lori Greiner.
With these big names backing them up, there is little doubt that Shefit will continue being a major player in the athletic apparel industry well into the future.
Appearing On Shark Tank
-
Shefit, a sports apparel company, gained an investment from Shark Tank in 2018, led by investor Lori Greiner.
-
Shefit demonstrated its pitch strategy by focusing on the quality of the product, its unique designs, and the success of its celebrity endorsements.
-
Since the Shark Tank investment, Shefit has seen immense success and growth, with increased sales and visibility.
-
Shefit has been able to invest in marketing, advertising, and other resources that have helped the company to expand its reach and customer base.
Gaining Investment
The appearance of Shefit on Shark Tank in 2015 provided an opportunity for the company to gain financial investment. Inventor and CEO, Sarah Marie Carpenter, pitched her product with a focus on addressing size diversity and customer feedback which resonated well with the Sharks. The pitch resulted in Robert Herjavec investing $250,000 for 20% of the company’s equity as part of his “Shark Tank Effect” strategy.
This provided capital that enabled Shefit to expand its operations and grow sales both nationally and internationally. This growth was largely thanks to Carpenter’s continued dedication to listening to customers’ needs through online reviews, surveys and other feedback channels. As such, she has been able to improve existing products while creating new ones like the Ultimate Sports Bra 2.0 and Super Comfort Straps that have allowed women around the world to feel supported during their workouts regardless of size, shape or fitness level.
Moreover, these improvements led to more repeat purchases along with increased brand loyalty among current customers while also attracting new ones who are drawn by positive word-of-mouth marketing from satisfied users. Carpenter has since leveraged this success into appearances on Good Morning America, Fox Business News Network, Buzzfeed and even a feature article in Oprah Magazine – all of which further expanded Shefit’s reach throughout North America and beyond. Ultimately, appearing on Shark Tank helped position Shefit for long-term market stability as it continues developing innovative solutions for activewear consumers worldwide.
Pitch Strategies
Pitch strategies play an important role in appearing on Shark Tank. Brand positioning is critical to success as it enables entrepreneurs to differentiate themselves from the competition, while also establishing trust with potential customers and investors.
When pitching a product or service for investment, it’s necessary to create a compelling narrative that resonates with the Sharks and builds customer relations by showing how their needs will be addressed. For example, Sarah Marie Carpenter of Shefit was able to successfully brand her product through focusing on size diversity and incorporating feedback from users into her pitch which ultimately resulted in Robert Herjavec investing $250,000 for 20% equity in the company.
Carpenter has since leveraged this success into appearances on Good Morning America, Fox Business News Network, Buzzfeed and even a feature article in Oprah Magazine – all of which further expanded Shefit’s reach throughout North America and beyond.
By using these strategies, she has been able to build relationships with current customers while attracting new ones who are drawn by positive word-of-mouth marketing from satisfied users. Ultimately, strategic pitches combined with solid business plans have enabled brands like Shefit to gain financial investments that help them expand operations and grow sales both nationally and internationally.
Securing Funding From Investors
After appearing on Shark Tank and receiving immense exposure, Shefit was able to secure funding from investors. The company’s CEO Sara Moylan pitched her business idea to the Sharks and secured a $100,000 investment in exchange for a 15% stake in the company with an additional 5% royalty until that amount has been recouped.
This funding allowed Shefit to move forward with their venture capital goals as well as create financial planning strategies for long-term success.
Here are three ways this new influx of cash enabled them to grow:
-
Expanding their product line: With increased funds, they were able to invest more resources into research & development so they can offer customers new products that meet their needs.
-
Increasing marketing efforts: They used the money to increase advertising campaigns and reach a much larger audience than before while still staying true to the mission of empowering women by creating superior sports bras.
-
Streamlining operations: This additional capital provided them with tools and technology needed to automate manual processes which will help reduce operational costs over time.
The injection of venture capital into Shefit not only solidified its presence in the activewear industry but also gave them room to breathe financially. As such, they have taken advantage of these opportunities by investing wisely in order to ensure future growth.
Expansion Of Product Lines
After appearing on Shark Tank in December 2016, Shefit quickly expanded their product line to include more sizing options and a wider variety of sports bras. The company developed new styles such as the Ultimate Sports Bra 2.0, which offered increased support and comfort for various chest sizes ranging from XXS-3XL. Additionally, they released additional color variations (like black/pink) and incorporated consumer feedback into improving their products with adjustable straps that are both comfortable and secure during exercise.
In 2017, the company experienced significant growth due to an increase in sales not just through its website but also through 3rd party retailers such as Amazon, Nordstrom Rack, Macy’s, Walmart, Kohl’s and Target. This surge in popularity is attributed to positive product reviews by influencers who have tried out the products themselves or seen success stories shared online.
In addition to increasing brand awareness across social media platforms like Instagram, Twitter and Facebook followership began growing exponentially.
The expansion of Shefits’ product lines has allowed them to become one of the top brands for athletes who want greater control over their own fit when selecting activewear items — something that can be difficult if you don’t conform to standard clothing sizing conventions. With each passing year since its appearance on Shark Tank, Shefit continues to show remarkable progress in terms of innovation and customer satisfaction; all signs point towards sustained success for this athletic apparel company.
Retail Store Distribution
SheFit’s retail strategy has been focused on expanding its store operations and presence outside of the Shark Tank. SheFit successfully secured a contract with Macy’s in August 2017, which enabled their products to be available in over 500 stores across the United States.
In addition to Macy’s, SheFit also entered into an agreement with JCPenney in October 2018 that allowed them to expand their reach even further. Since appearing on Shark Tank, SheFit has seen tremendous growth in both online sales and physical store locations.
With the success of these two retailer partnerships, they have continued to open new stores at major shopping outlets throughout the country such as Kohl’s, Dillard’s and Boscov’s. As of December 2020, SheFit had nearly 100 different retailers carrying their product line ranging from department stores like Nordstrom and Von Maur to smaller specialty retailers like Paragon Sports and City Sports Boston.
By leveraging relationships with key suppliers around the world, SheFit is able to provide quality sports bras for women everywhere. SheFit offers sizes up to 48G/H and has developed patented Zip+Lock technology for adjustable compression levels. They utilize three unique styles: Ultimate Coverage Bra, High Impact Extreme Support Sportsbra & Performance Running bra and offer a variety of colors and prints.
Online Presence And Marketing
After a remarkable showing on Shark Tank, Shefit experienced an explosion of popularity and success. Its revolutionary sports bra was suddenly thrust into the spotlight, with customers clamoring to try out the product that had been deemed good enough for investment by all five Sharks. With this newfound attention came a massive spike in sales and interest from retailers around the world looking to stock the brand’s products. This opened up new opportunities for Shefit to expand its retail store distribution significantly.
However, even after experiencing such incredible success on television, Shefit knew that it could not rest on its laurels if it wanted to remain competitive in today’s digital age.
As such, they decided to invest heavily in their online presence and marketing strategies across social media platforms like Facebook, Twitter and Instagram. By utilizing customer feedback as well as analytics data from these platforms, Shefit was able to tailor its messaging and develop loyal customer relationships that would keep them top-of-mind when it comes to athletic apparel brands.
Through strategic use of content marketing tactics coupled with strong customer service initiatives – such as offering personalized size recommendations or offering discounts through loyalty programs – Shefit has become one of the most successful athletic apparel companies operating in North America today.
Their example serves as a prime reminder that investing resources into developing an effective online presence can pay off handsomely over time.
Challenges Faced By Shefit
The SheFit brand has faced several challenges since appearing on Shark Tank in 2016.
The first challenge is maintaining a consistent brand identity and image. Despite the initial success of their product, as time went by people began to realize that many brands were offering similar products with more competitive pricing.
To remain successful, SheFit had to find ways to differentiate itself from its competitors while also staying true to its core values.
One way they have done this is through customer feedback. By listening to customers’ needs and desires and responding accordingly, SheFit was able to create products that are tailored specifically for women’s bodies and lifestyles.
This commitment to understanding and meeting customer needs has allowed them to stay ahead of the competition and continue building strong relationships with their loyal customers.
This strategy has paid off for SheFit as the company continues to experience steady growth year after year thanks largely in part to word-of-mouth advertising from satisfied customers who recommend Shefit’s products to friends and family members.
As such, it appears that focusing on providing quality customer service may be one of the keys for sustainable success for the company going forward.
Shefit’S Innovative Solutions
SheFit is known for its innovative design solutions, as evidenced by its patented ‘Zip. Cinch. Lift’ technology.
This technology allows wearers to easily adjust their sports bra to their unique fit, delivering maximum comfort and support.
Customers have reported that this technology has revolutionized their workout experiences.
SheFit has also taken customer experience to the next level with their ‘SheFit Promise’, which guarantees a perfect fit for every body type.
The company also offers online bra fittings and a variety of sizes and styles to suit any body shape.
After appearing on Shark Tank in 2017, SheFit has gone from strength to strength, further building its reputation as a leader in design innovation and customer experience.
Design Innovation
SheFit, a Michigan based startup, has identified design innovation as the key to creating an optimal sports bra for all body types.
Through product design that focuses on comfort and support, Shefit has created an adjustable-cup compression technology with multiple levels of adjustability.
This allows users to customize their fit and feel confident in their own bodies.
They have also sourced material from environmentally responsible suppliers who use recycled materials which results in less waste going into landfills.
In addition, they are committed to providing high quality products at competitive prices, making sure that everyone can benefit from the innovative designs.
By combining creative ideas with sound business strategies, SheFit is revolutionizing the way women view their fitness apparel and giving them confidence to take charge of their health and wellness goals.
Comfort & Fit
SheFit understands that comfort and fit are essential for an optimal sports bra.
To this end, they have developed a unique adjustable-cup compression technology which offers multiple levels of adjustability to ensure the perfect fit.
This allows users to choose their own sizing options and customize their level of comfort so they can feel confident in sporting activities.
Furthermore, Shefit has sourced material from environmentally responsible suppliers who use recycled materials as well as providing quality products at competitive prices.
These solutions combined create an innovative design addressing both practical needs and environmental concerns while also empowering women to take control of their health and wellbeing goals.
Customer Experience
The customer experience is an important factor in any successful business and SheFit has put a great deal of effort into ensuring their customers have the best possible shopping, wearing and after-care experience.
They provide detailed product information on their website to help customers make informed decisions about which bra will be right for them.
Additionally, they offer free shipping worldwide and hassle-free return policies to ensure satisfaction with each purchase.
In addition to this, SheFit actively solicits customer feedback in order to continuously improve service quality and strive towards creating the perfect fit for all body types.
Through customer surveys, focus groups, social media dialogue and other methods, SheFit invites customers to share their experiences both positive or negative so that future products can reflect their needs.
By listening closely to customer feedback and responding quickly, SheFit ensures customers feel valued throughout the entire purchasing process.
Brand Awareness
The innovative solutions provided by SheFit have led to a newfound brand loyalty among customers. This has resulted in the establishment of strong customer engagement with the company, as fans are eager to show their support and try out new products released by SheFit.
Consequently, this increased popularity was noticed even after their appearance on Shark Tank, leading to more people becoming aware of the product and its applications.
As such, many women now know about SheFit’s adjustable bra that caters for every body shape and size. The unique strap system allows users to adjust the fit according to their individual needs without compromising comfort or style. In addition, further products have been developed since then – they offer everything from sports bras to shapewear and leggings – all designed with comfort and practicality in mind.
SheFit’s increasing presence in the industry is testament to its commitment towards providing quality items that accommodate everyone’s needs while promoting an active lifestyle. Their success story highlights the importance of creating long-term relationships between customers and brands through reliable customer service, consistent communication and creative marketing campaigns that focus on building brand loyalty.
Future Plans For Shefit
When SheFit first appeared on Shark Tank, the world was in awe of their revolutionary sports bra. It provided women with a fit and support they had never experienced before while being fashionable enough to wear outside the gym.
Many people wondered what would become of this product after it left the show. The founders of SheFit have kept busy since appearing on Shark Tank by implementing some key strategies for growing their business.
They’ve engaged in influencer outreach programs that have allowed them to reach more potential customers than ever before as well as increased customer feedback opportunities which has enabled them make improvements to their products faster than ever before.
With all these activities underway, its no wonder why SheFit is still going strong years after their appearance on Shark Tank. The company continues to increase sales year-over-year by focusing on providing exceptional quality products combined with excellent service and robust marketing initiatives.
Clearly, this small startup has big plans for the future—and we can’t wait to see how far they go!
Conclusion
The success of SheFit post-Shark Tank is nothing short of remarkable. After securing funding from investors, the company expanded its product lines and increased retail store distribution to a number of countries worldwide.
In addition, their innovative solutions for common challenges have allowed them to increase brand awareness through word-of-mouth marketing. For example, in response to high shipping costs associated with international orders, SheFit set up regional warehouses which enabled customers around the globe to receive products at lower prices than before.
These strategic moves have positioned SheFit as an industry leader. Looking towards the future, plans are already in place for partnerships with retailers across Europe and Asia Pacific regions. These collaborations will further solidify SheFit’s presence on a global scale while allowing them to remain competitive within this ever changing market landscape.