Last into the tank is Lisa Binderow of NicePipes Apparel, seeking $100,000 for 10 percent equity.
NicePipes Apparel provides leg and arm warmers perfect for any workout. According to their website, they “are the only premier athletic warmer developed for top performance and designed for the fit and fashionable.” They offer compression, no slippage ad yoga pant fabric. Their products include arm warmers and leg warmers, in both knee and thigh length. Arm warmers cost $38 while leg warmers start at 42. The founder “was inspired to create the first pair of pipes on a chilly morning walking to the studio.” Their company also includes options to give back.
They are sold online and in 14 stores, doing about $80,000 in sales. Kevin O’Leary says there’s nothing proprietary about it, adding that it seems like it’s more of a hobby. She has put $300,000 into the business.
The sharks find the valuation outrageous, causing O’Leary and Robert Herjavec to go out, followed by Mark Cuban, who believes she needs to be more focused on sales. Lori Greiner encourages her to discover what she’s best at and, despite liking the product, goes out. Barbara Corcoran is impressed with Binderow’s determination and offers $100,000 for 40 percent, contingent on a partnership with Grace and Lace, a huge “Shark Tank” success story. Binderow counters 25 percent, which Corcoran declines. Ultimately, she walks away without accepting the offer.
Social Media Reacts to NicePipes Apparel’s Appearance on “Shark Tank”
#SharkTank "You make them in America" "I make them in LA actually" #nicepipes
— Christie (@Cnannina33) January 14, 2017
#nicepipes did not come onto #SharkTank @ABCSharkTank for a deal. She came for promo. The sharks didn't call her on it, though. Shocker.
— Kimberly Perkins (@KimberlyBHM) January 14, 2017
I like #nicepipes, but for me, the name doesn't really fit the product. Needs a new name. #SharkTank
— cooliojones (@cooliojones) January 14, 2017
How do you drop $300K on yoga sleeves, WTF is this business worth $1 million? How do you NOT know your costs?!? #NicePipes #SharkTank
— William Knowles (@c4i) January 14, 2017
#SharkTank #NicePipes would be really cool if it had smart technology to monitor your vitals during workout.
— Dirt Triscuit (@AmericasDouche) January 14, 2017
Honesty goes a long way #nicepipes #SharkTank
— Scott Nichols (@IAmScottNichols) January 14, 2017
Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging business to six multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group. Venture capitalist Chris Sacca is also slated to appear as a guest shark this season.
“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $87 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Friday at 9 p.m. on ABC.
Would you wear NicePipes Apparel? Sound off in the comments section below!
I’d wear them, but when I looked up the website, they are way too expensive for sleeves…$38-$42, costs more than most of my yoga pants. Skip.