Hold Your Haunches Shapewear
DEAL
EPISODE SUMMARY
🕓 Air Date: April 10, 2014
Asking For:
$75,000 for 20%
Investor:
Barbara Corcoran, Lori Greiner (50/50)
Deal:
$175,000 for 40%
PRODUCT SUMMARY
Hold Your Haunches is a fashion trouser with a fully integrated shapewear liner that offers smoothing and slimming support for women of all ages and stages, suitable for various occasions from carpool to cocktails.
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Background Story
Hold Your Haunches, founded by Jenny Greer and Erin Bickley, originated in Macon, Georgia, a city known for its Southern charm and historic significance. Jenny and Erin, the dynamic duo behind the company, hail from this warm and vibrant community, where they discovered a common problem faced by many women: the struggle to find flattering and supportive clothing that enhances their confidence. Jenny, a determined and innovative entrepreneur, had been grappling with the frustration of sagging behind her underpant line despite her efforts in diet and exercise.
It was during a casual walk with Erin, her friend and fellow visionary, that Jenny voiced her discontent and desire for a solution. Erin, empathizing with Jenny’s plight, immediately recognized the opportunity to fill this gap in the market. With their combined expertise and determination, Jenny and Erin embarked on a mission to create a solution that would revolutionize women’s fashion. Drawing on their backgrounds in design and business, they set out to develop a unique product that seamlessly integrated fashion with function: Hold Your Haunches.
Inspired by their own experiences and the desire to empower women to feel confident in their skin, Jenny and Erin poured their hearts and souls into developing Hold Your Haunches. Their dedication and ingenuity led to the creation of a groundbreaking fashion trouser with a fully integrated shapewear liner, offering unparalleled support from muffin top to saddlebags. Driven by their passion for helping women look and feel their best, Jenny and Erin have turned Hold Your Haunches into a beloved brand trusted by women across the country.
The Product
Hold Your Haunches offers a revolutionary solution to the common problem of sagging behind the underpant line with its fashion trousers featuring a fully integrated shapewear liner. The trousers are meticulously designed to provide smoothing and slimming support for women of all ages and stages, addressing concerns from muffin top to saddlebags.
The product combines chic style with functional shapewear, making it versatile enough to be worn from carpool to cocktails. Whether it’s a casual outing or a special occasion, Hold Your Haunches trousers offer the perfect blend of comfort and confidence.
Key features of the product include its seamless integration of shapewear into fashionable trousers, providing discreet support without compromising on style. Made from high-quality materials, the trousers offer a flattering fit that enhances the wearer’s silhouette.
Hold Your Haunches trousers can be purchased online through the company’s website or through retailers nationwide. The retail price for a pair of trousers is $139, with wholesale options available at $69 per pair. With its innovative design and proven effectiveness, Hold Your Haunches has become a go-to choice for women seeking stylish and supportive clothing that boosts their confidence and self-esteem.
How It Went
The company’s position before Shark Tank
Hold Your Haunches has demonstrated solid performance since its inception, establishing itself as a trusted brand in the women’s fashion industry. The company’s health and position are robust, with steady sales growth and a loyal customer base. Partnerships with retailers nationwide have expanded the brand’s reach, while strategic alliances with wholesalers ensure widespread availability of its products. The company’s primary partners include retailers who stock Hold Your Haunches trousers, allowing customers to purchase them conveniently in stores across the country.
Hold Your Haunches caters to a diverse customer base, appealing to women of all ages and body types who seek stylish clothing with built-in shaping and support. The brand’s trousers are particularly popular among those looking to enhance their confidence and silhouette without sacrificing comfort. Funding for Hold Your Haunches has primarily come from reinvesting profits back into the business, allowing for sustainable growth and expansion. The company has also secured a $100,000 credit line, providing additional capital to fulfill purchase orders and support ongoing operations.
In terms of financial performance, Hold Your Haunches has achieved impressive sales figures, with total sales reaching $280,000 since its launch in November 2010. With $165,000 in sales over the last 12 months, the company has demonstrated consistent growth and profitability. Profit margins of approximately 30% reflect the company’s efficient operations and strong market demand for its products. The company is currently structured as a partnership between founders Jenny Greer and Erin Bickley, who oversee all aspects of the business, from product development to marketing and distribution.
The Negotiations:
During the negotiations on Shark Tank, Jenny Greer and Erin Bickley of Hold Your Haunches showcased their innovative product to the panel of sharks. Initially seeking $75,000 for a 20% equity stake, they received offers from Barbara Corcoran and Lori Greiner, who proposed $75,000 for a 40% equity stake along with a $100,000 credit line. This offer was accepted by Jenny and Erin, impressed by the potential for growth and the expertise offered by the investors.
Mark Cuban and Robert Herjavec expressed concerns about the product’s weight and potential for litigation due to false advertising claims. Kevin O’Leary declined to invest, citing ethical concerns about the product. However, Barbara and Lori saw the opportunity for Hold Your Haunches to become a game-changer in the fashion industry and made a compelling offer to secure a partnership with the company.
Ultimately, Jenny and Erin accepted the offer from Barbara and Lori, excited about the opportunity for expansion and validation of their product. The negotiation process highlighted the importance of finding investors who not only believe in the product but also bring valuable expertise and resources to the table. With the support of Barbara and Lori, Hold Your Haunches is poised for continued success and growth in the competitive fashion market.
