Trimi Tank
NO DEAL
EPISODE SUMMARY
🕓 Air Date: April 27, 2012
Asking For:
$57,000 for 30%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Trimi Tank offers tank tops with interchangeable removable straps, allowing for versatile and customizable fashion options.
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Background Story
Trimi Tank was born out of necessity and creativity at early morning hockey practices attended by founders Nicole Bilski and Lindsay Johnson, both Pittsburgh hockey moms. Frustrated by the lack of versatile fashion options, they conceptualized the idea of a tank top with interchangeable straps. Their passion for fashion and practicality led them to develop Trimi Tank, starting in their homes in Pittsburgh.
Drawing from their experiences as mothers and their understanding of the need for comfortable yet stylish clothing, they meticulously crafted each strap to provide endless combinations for their customers. Their journey began with a vision to revolutionize the tank top market, catering to women who seek individuality in their wardrobe choices.
The Product
Trimi Tank offers tank tops made from high-quality materials, each accompanied by three sets of interchangeable straps. The straps, available in various styles including jewelry, ribbon, and funky designs, can be easily attached and detached, allowing wearers to mix and match or layer them according to their preference.
The tops are sold directly from the founders’ homes and are priced at $35 each. Additionally, they envision expanding the versatility of the straps beyond tank tops, potentially integrating them into other clothing items.
How It Went
The company’s position before Shark Tank
Trimi Tank has sold approximately 100 units to date, generating $3,500 in revenue. Despite limited sales, the founders are optimistic about the potential of their product. They have primarily marketed their product at craft shows, flea markets, and small handmade markets in Pittsburgh.
However, they faced challenges in converting interest into sales due to logistical constraints and the nature of the venues they attended. Currently, the company operates with limited capital and relies on direct sales from the founders’ homes. Partnerships, wholesalers, and significant retail presence are yet to be established.
The Negotiations:
The Sharks expressed admiration for the founders’ energy and vision but ultimately passed on investing in Trimi Tank due to concerns about the early stage of the business and lack of proven market demand. Despite Mark Cuban’s encouragement to target specific groups and expand the product’s appeal, the founders left the tank empty-handed as no deals were made.
Kevin O’Leary made a playful offer, symbolically burning the equivalent of their sales revenue in exchange for dinner, which the founders declined. Though confident in their product’s potential, the founders faced a reality check as the Sharks’ skepticism highlighted the challenges ahead in scaling their business.
