Ta-Ta Towel Bra
DEAL
EPISODE SUMMARY
🕓 Air Date: October 14, 2018
Asking For:
$200,000 for 10%
Investor:
Lori Greiner
Deal:
$200,000 for 40%
PRODUCT SUMMARY
The Ta-Ta Towel is a terry cloth towel designed to combat underboob sweat, providing comfort and support for well-endowed women.
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Background Story
Erin Robertson, the founder of Ta-Ta Towel, is based in the vibrant city of Los Angeles, California. A former personal assistant with 13 years of experience, Erin’s journey took an unexpected turn when she found herself facing a common yet overlooked problem: underboob sweat. This discomfort prompted her to devise a creative solution, and thus, the Ta-Ta Towel was born. The idea struck Erin one hot summer day as she prepared for a date, struggling to stay dry and comfortable.
Fresh out of the shower, she attempted various methods to combat the issue, but none proved effective. Fueled by the real and relatable experience of battling underboob sweat, Erin conceptualized the Ta-Ta Towel as a unique and innovative solution for well-endowed women. This journey wasn’t without its challenges. Erin, with no prior experience in the garment industry, took to YouTube to learn how to sew. Undeterred by her initial struggles, she began crafting the towels in her living room.
The turning point came when a viral moment catapulted Ta-Ta Towel into the spotlight, resulting in a surge of sales and widespread recognition. The company’s commitment to quality and sustainability is evident in its decision to manufacture the towels in Los Angeles, with a focus on eco-friendly practices. Erin’s passion for her product, coupled with a successful transition from personal assistant to entrepreneur, showcases the resilience and creativity that define the Ta-Ta Towel’s origin story.
The Product
The Ta-Ta Towel is a revolutionary solution designed to address the discomfort of underboob sweat, providing comfort and support for well-endowed women. Crafted with both functionality and style in mind, the towel features a unique design that combines terry cloth on one side with a super-soft liner on the other, creating a comfortable and breathable garment. The reversible nature of the towel enhances its versatility, making it a practical accessory for various situations.
Available in sizes ranging from small to an H cup, the Ta-Ta Towel is designed to stay in place, offering flexibility and support. The towel is cinched tighter from the neck and can be adjusted underneath to ensure a secure fit while allowing freedom of movement. Its utility extends beyond the initial purpose of post-shower use, as customers have found it suitable for everyday wear around the house.
Ta-Ta Towels can be purchased exclusively through the company’s website, providing a direct-to-consumer model that ensures quality control. The original towel is priced at $45, while the maternity version, featuring a second patent-pending design, is available for $55. With a focus on comfort, practicality, and inclusivity, the Ta-Ta Towel has garnered attention for its unique approach to addressing a common concern among women, making it a popular choice for those seeking both functionality and style in undergarments.
How It Went
The company’s position before Shark Tank
Ta-Ta Towel has demonstrated robust performance and a solid position in the market since its inception. The company’s health is reflected in its impressive sales figures, having generated $1.1 million within the first 12 months of operation. Despite facing challenges from knock-offs during a viral moment, the company effectively enforced its patents, safeguarding its innovative designs. The manufacturing process is a key aspect of the company’s ethos, with Ta-Ta Towels proudly being handmade by women in an eco-friendly facility located in Los Angeles. This commitment to quality and sustainability aligns with the company’s values and resonates with its customer base.
In terms of partners and wholesalers, Ta-Ta Towel primarily operates through a direct-to-consumer model, exclusively selling its products through its official website. This approach allows the company to maintain control over product quality and customer experience. Notable partnerships may include collaborations with influencers or celebrities to amplify brand visibility and reach. The customer base for Ta-Ta Towel is diverse, catering to well-endowed women seeking comfort and support. The product’s versatility has expanded its appeal, with customers not only using it post-shower but also incorporating it into their everyday wear around the house.
As for funding, the company’s initial boost came from its founder, Erin Robertson, who transformed the business from a personal assistant’s living room project to a successful venture. In terms of profits and losses, the company has experienced notable success, achieving $1.1 million in sales within the first year. With a solid foundation, the company is poised for further growth, targeting $2 million in sales by the end of the current year. The available capital, boosted by Lori Greiner’s investment, positions Ta-Ta Towel favorably for scaling operations, marketing initiatives, and potential expansion into new markets or product lines.
The Negotiations:
The negotiations for Ta-Ta Towel on Shark Tank were dynamic and pivotal for the company’s future. Erin Robertson entered the tank seeking $200,000 for a 10% equity stake in her innovative underboob sweat solution. Lori Greiner expressed immediate interest, countering Erin’s proposal with an offer of $200,000 for a 40% equity stake, emphasizing the need for strategic planning and an “army” to support the business.
Erin, while appreciative of Lori’s offer, expressed hesitation at giving up 40% of her company. She countered with a request for 30%, attempting to strike a balance between securing the necessary investment and retaining a larger portion of her business. Lori held firm at $200,000 for 40%, citing the extensive support and guidance she could provide. As the negotiation unfolded, Erin faced the challenge of deciding between the significant equity stake Lori demanded and the valuable expertise and support she offered. Lori, recognizing Erin’s concerns, reiterated the substantial value she could bring to the table, emphasizing the transformational impact on Ta-Ta Towel’s success.
Ultimately, Erin made the decision to accept Lori Greiner’s offer of $200,000 for a 40% equity stake. This marked a strategic partnership that not only injected capital into Ta-Ta Towel but also brought the expertise and network of a seasoned entrepreneur. The negotiation showcased the delicate balance entrepreneurs face in securing investment while maintaining control of their businesses, and Erin’s decision reflected a strategic move to propel Ta-Ta Towel to new heights under the guidance of a Shark Tank investor.
