Kalyx Sports Bras
NO DEAL
EPISODE SUMMARY
🕓 Air Date: September 13, 2009
Asking For:
$125,000 for 20%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Kaylx Technologies offers a line of sports bras designed specifically to address exercise-induced breast pain in women.
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Background Story
Kimberly Cayce, a former professional golfer, founded Kaylx Technologies with a mission to address the widespread issue of exercise-induced breast pain in women. Inspired by her own experiences as an athlete and her subsequent need for comfortable and supportive sports bras, Cayce embarked on a journey of research and development to create a solution. Cayce and her team spent three years meticulously crafting and refining their product line. Having competed globally as a professional golfer for five years, Cayce understood firsthand the physical demands of athletics and the importance of proper attire for performance and comfort.
After retiring from her athletic career and navigating through a divorce, she saw an opportunity to reinvent herself and make a meaningful impact in the athletic apparel industry. Drawing on her background in sports and her entrepreneurial spirit, Cayce poured her passion and resources into Kaylx Technologies. Driven by a desire to empower women and enhance their athletic experiences, Cayce and her team developed a line of sports bras specifically engineered to minimize breast motion and alleviate exercise-induced pain.
Through extensive research and beta testing, they identified the need for functional yet fashionable sports bras tailored to different types of physical activities. Thus, the Kaylx line was born, featuring bras designed for casual workouts, high-intensity training, and elite athletic performance. Cayce’s personal journey, coupled with her dedication to creating innovative solutions for women in sports, serves as the foundation for Kaylx Technologies. With a strong brand identity and a commitment to excellence, Cayce and her team are poised to make a significant impact in the athletic apparel market and improve the lives of active women worldwide.
The Product
Kaylx Technologies offers a revolutionary line of sports bras meticulously designed to address the discomfort and pain experienced by women during exercise. Each bra in their collection incorporates the patented Kaylx Power Sling, a wireless mesh insert strategically positioned to minimize breast motion across multiple planes. This innovative design ensures that women can engage in physical activities without the distraction and discomfort of bouncing breasts.
The Kaylx sports bras are not only functional but also fashionable, catering to the diverse needs and preferences of active women. The Enlightened line combines comfort and support with a touch of femininity, while the Extreme series is engineered for women who prioritize speed and agility. For elite athletes striving for gold, the Elite collection offers unparalleled performance and support.
Customers can purchase Kaylx sports bras directly from the company’s website, providing a convenient and hassle-free shopping experience. While prices may vary depending on the specific bra model and features, Kaylx is committed to offering affordable yet high-quality athletic wear to women worldwide. With their unique blend of style, functionality, and innovation, Kaylx sports bras empower women to embrace their active lifestyles with confidence and comfort.
How It Went
The company’s position before Shark Tank
Kaylx Technologies is a relatively new company, having recently entered the athletic apparel market with its innovative line of sports bras. As of now, the company’s health and position are still in the early stages of development. While they have generated interest from potential customers, including a waiting list of over 250 women eager to purchase their products, Kaylx Technologies has yet to establish a significant presence in the market. The company’s primary focus has been on product development and establishing their brand identity.
They have secured their first order from a retail store called The Full Cup, indicating initial traction in the market. However, Kaylx Technologies faces stiff competition from established sports bra manufacturers like Champion, Nike, Under Armour, Adidas, and Moving Comfort. In terms of funding, Kaylx Technologies has primarily relied on investments from founder Kimberly Cayce, who has invested over $100,000 of her own money into the business. This self-funding approach has allowed the company to maintain control over its operations and decision-making processes. However, as Cayce mentioned, the company is currently “running on fumes,” indicating a need for additional funding to support manufacturing and marketing efforts.
Kaylx Technologies operates as a relatively small and nimble organization, with a focus on product innovation and customer satisfaction. While they have yet to partner with major retailers or wholesalers, the company’s direct-to-consumer approach through their website allows them to maintain a close connection with their target audience. Moving forward, Kaylx Technologies will need to secure additional funding, expand their distribution channels, and continue to differentiate themselves from competitors to achieve long-term success in the competitive athletic apparel market.
The Negotiations:
During the negotiations on Shark Tank, Kimberly Cayce of Kaylx Technologies presented her innovative line of sports bras designed to address exercise-induced breast pain in women. Seeking $125,000 for a 20% equity stake in her company, Cayce faced tough questions from the Sharks about her ability to compete in a market dominated by major brands like Champion, Nike, and Under Armour. Despite Cayce’s passion and dedication, none of the Sharks were convinced to invest in Kaylx Technologies.
Kevin O’Leary expressed skepticism about the company’s ability to gain market share and generate significant returns on investment, ultimately deciding to pass on the opportunity. Barbara Corcoran and Daymond John also opted out, citing concerns about the company’s competitive positioning and the challenges of breaking into the athletic apparel market. Robert Herjavec, while acknowledging Cayce’s strong brand identity, ultimately decided not to invest, expressing doubts about the viability of the business and the potential for success.
Mark Cuban echoed these sentiments, noting the intense competition and the company’s lack of traction in the market. Despite facing rejection from all the Sharks, Cayce remained hopeful about the future of her company and the positive impact it could have on women’s lives. While the negotiations did not result in a deal, the exposure on Shark Tank may still provide valuable publicity and opportunities for Kaylx Technologies to attract investors and customers in the future.
