SHEFIT: What Happened To The Brand After Shark Tank?
Some "Shark Tank" businesses become so popular, you forget they ever even appeared on the show. That's the case with SHEFIT, a brand of adjustable sports bras founded by married couple Sara and Bob Moylan. Before appearing on the "Shark Tank" stage in 2016, the entrepreneurs had already launched and started growing their business. Sara came up with the SHEFIT bra design while she was pregnant and struggling to find a bra to support her chest during workouts. In a 2014 Kickstarter campaign, Sara revealed that she had resorted to wearing two or three sports bras at a time until she finally decided to develop her own bra designed to accommodate any bust and body size.
After a successful run on Kickstarter, the SHEFIT founders began promoting their product, snagging a shout-out on the national TV program, "The Doctors," and eventually earning $220,000 in sales within 18 months. Soon, "Shark Tank" reached out, asking to feature the brand on its reality-style show for inventors. "Until this point, [Bob and I] were running so fast trying to bring SHEFIT to fruition that we were taken back by the show's outreach," Sara later told Corp! Magazine. "We both knew that if we wanted to prove our product and impress millions of viewers, we needed to take a deep-dive into every single aspect of our business." The couple spent a year preparing their pitch before finally stepping in front of the panel of Sharks.
SHEFIT's success on Shark Tank
In their "Shark Tank" episode, Sara and Bob Moylan described their invention as the "first and only fully custom adjustable sports bra," with a patent on its adjustable straps and bust band. Sara demonstrated how the garment is easily zipped in the front, and then pulled and secured with velcro to achieve the wearer's bra size and desired amount of lift. To finish the pitch, she noted that the bra prevents the squished "uni-boob" effect many women deal with when wearing standard sports bras.
The couple were hoping to secure a $250,000 investment in exchange for a 20% stake in their company, but the Sharks weren't sold just yet. The panel of investors expressed concern that the product was too thick and padded to be comfortable for the average athlete. However, Sara convinced them otherwise, pointing out that the padding can be removed and that the material is more lightweight than it appears.
When pressed on their marketing and sales, the co-founders revealed that the bra retailed for $58.99 and was available on their e-commerce shop and in 19 different retail stores. Unfortunately, Robert Herjavec wasn't persuaded and was the first Shark to pull out. Lori Greiner was the next to reject a deal, explaining that she doubted SHEFIT could compete with other brands. Finally, Shark Daymond John offered $250,000 for a 33.3% stake. The founders accepted the compromise and excitedly walked away, celebrating their investment deal.
SHEFIT grew quickly after its Shark Tank deal
After SHEFIT's "Shark Tank” pitch aired, the business saw an immediate boost in sales. "We were sitting on an inventory of more than 4,000 items," Sara Moylan told Success. "Even before we finished our pitch those had been sold. And within the next couple of weeks, we had presold all of the inventory — 16,000 units — that were slated to come in at the end of April." Thankfully, Daymond John's team helped SHEFIT stay on top of orders and speed up production. "They were able to help us with sourcing and liaising with vendors and the factory to speed up manufacturing," Bob Moylan added.
Unsurprisingly, the company's revenue exploded, swelling to $1.5 million during the year of the "Shark Tank" episode. According to a 2016 blog post on the SHEFIT website, the bra brand also received more media recognition. Its adjustable design was lauded by "Inside Fitness Magazine," "Women's Running Magazine," and "Runner's World" soon after the "Shark Tank" feature. To make its bras even better, the company promised to offer new styles and upgrades in 2017.
The brand is still in business today
While some "Shark Tank" successes fizzle out after a few years, SHEFIT has proved to have staying power. According to Women's Wear Daily, top-line revenues increased more than 3,400% between August 2016 and August 2019. Even when the COVID-19 pandemic struck, the business thrived thanks to a direct-to-consumer strategy. "We have waitlists," Sara Moylan told the publication in 2020. "Like three weeks to get a virtual fitting. And many people who have never had the bra — and just got one — are coming back to get another. It's crazy. It's our little Shefit Nation."
The brand also got a boost from social media, especially after being featured in numerous viral TikTok videos. "The recent virality on TikTok has driven high-quality site visits from that channel to Shefit.com, with [number of visits] in the six figures over the last few weeks, which converted at a surprising rate," CMO Erik Lautier shared with Glossy in 2021. Apparently, the buzz wasn't just empty hype — a 2019 study published in the International Journal of Exercise Science found that the SHEFIT Ultimate Sports Bra prevented bounce better than other popular sports bra styles.
What's next for SHEFIT?
Years after "Shark Tank," SHEFIT continues to grow its brand and attract new customers in need of a supportive, adaptable sports bra. The company is very active on social media platforms including Instagram (where it has over 300,000 followers) and TikTok (with a strong audience of nearly 600,000 followers). Besides winning over influencers and social media users, the brand has also gained attention from athletes — in 2022, USA Pickleball announced a multi-year deal, making SHEFIT the Official Sports Bra Partner of the sport.
A quick scroll on LinkedIn also reveals that the Moylans are still involved with the company, along with at least 30 additional employees. However, the business hasn't been all rosy behind the scenes. Detroit Free Press reported in November 2022 that two former employees were suing the company, alleging they were wrongly terminated. The lawsuit detailed claims of tax evasion, sexual harassment, discrimination, and body shaming.
While the lawsuit was partially settled within just a couple of months, per a Law360 report, it's unclear if or how the controversy could impact SHEFIT's future. As of 2023, the brand continues to sell its Ultimate Sports Bra (for $75, a jump from its "Shark Tank"-era price), other sports bra styles, and athleisure staples, such as leggings and hoodies.