BootayBag: What Happened To The Brand After Shark Tank?

Every brave entrepreneur who puts their passion project on the line by presenting their business to the ruthless investors of ABC's "Shark Tank" hopes to walk away with a favorable investment deal. "Shark Tank" viewers, on the other hand, hope to see a pitch full of ups and downs that ends in a feeding frenzy as the Sharks fight over who gets a piece of the budding company. Sadly, not every episode of the show's 14-season run can deliver either of those scenarios. 

When BootayBag founder Ellyette Rae Gheno appeared on Season 13, Episode 2 of the hit program, fortune smiled on both the entrepreneur and the show's viewers. Gheno's "Shark Tank" pitch has it all: a rags-to-riches story, multiple offers from Sharks, and an investment deal in the end. Did such an exciting episode, however, translate to actual success for the business after the show aired? Let's see where the brand is now.

Ellyette Rae Gheno presented her underwear subscription business to the Sharks, asking for a $500,000 investment in return for 5% equity in the company. As the potential investors admired Gheno's products and packaging, she explained the history of the business, revealing that she had started the company with just $300 and turned that lone investment into an astonishing $15 million in sales with zero debt. Stunned, Mark Cuban referred to her success as the "best story I've ever heard."

It didn't take long for guest Shark Kendra Scott to offer Gheno $500,000 for 10% equity. Before the BootayBag's founder could answer, Barbara Corcoran jumped in — reminding Gheno of her investor status in a similar company called Grace & Lace — with an offer of $500,000 for 20%. The two women quickly combined their offers to include both Sharks at the $500,000 for 20% price point. Kevin O'Leary then tossed out an offer of $500,000 for 15%. As it became clear that Gheno was struggling to consider letting go of 15% or more of her company to an investor, Scott quickly abandoned Corcoran and returned to her original offer of $500,000 for 10%. Gheno accepted and a deal was made. 

After appearing on "Shark Tank," BootayBag continued to engage with its customer base through Instagram and TikTok the same way it did before the show. According to the company's website, it also continues to donate to organizations that provide underwear to homeless women and prioritizes sustainable practices such as recycling and utilizing biodegradable materials. After experiencing the boost in visibility that comes with appearing on a major television network, the brand appears to have expanded its product line.

In addition to panties, bras, and bralettes, BootayBag now offers sleepwear, activewear, corsets, and bodysuits. You can order these new products as matching sets or single items and purchase them as standalone that do not require a subscription. If you do subscribe, however, you are eligible for a 20% discount and free shipping on additional items. As far as the underwear subscription service goes, you can, at the time of writing, subscribe to receive one pair of mystery undergarments per month for $15/month. Or, for $25/month, you can receive two pieces in the company's newest designs. 

BootayBag is still very much in business. The company is active on both Instagram and TikTok, boasting over 200,000 on the former and 8,000 followers on the latter. The brand is also frequently tagged in videos created by happy customers who recommend their products to others or offer positive reviews. It doesn't appear to be uncommon for the company to ask its followers to vote on the theme of new collections or their favorite features of current products.

The brand remains dedicated to showcasing women of all shapes, sizes, and body types in a body-positive light in their marketing materials, on their social media platforms, and when streamlining the process of shopping for affordable undergarments. While the company's website does mention appearing on "Shark Tank" and even includes an embedded video and GIF of its pitch, there doesn't appear to be any mention of Kendra Scott, which raises questions of whether or not the deal that was struck on the show ever actually closed. Either way, the company is still going strong. 

The lingerie industry was worth an estimated $88 billion in 2022 and is slated to increase at a rate of 6% within the next decade, according to Grand View Research. Moreover, the subscription model at large is set to reach a value of over $900 billion by 2026 (via Forbes). Ultimately, nothing currently suggests that BootayBag and its founder are facing a future that is anything less than bright and promising.

Gheno is still listed as the CEO of BootayBag on LinkedIn and states on her profile that her "passion lies in creating innovative solutions that empower women to feel confident and beautiful." She goes on to add that "by providing high-quality, affordable, and stylish undergarments, BootayBag has earned a loyal following of satisfied customers." This definitely seems to be the case and, as everyone who has ever worked in a retail setting knows, the customer is always right.