Today we are going to tell you about the handbag raincoat shark tank update, networth, founder and what happend after shark tank. if you want to know all information about handbag raincoat shark tank, you must read the entire article.
What is Handbag raincoat shark tank?
Handbag raincoat is as insurance for every woman’s handbag. Its founders made it available online and in stores like Bed, Bath & Beyond. It’s now also available on amazon. The reason behind this is that anyone can get a raincoat for their bag.
Let us tell you that raincoats work for everything, from small, party-sized handbags to large handbags used for work and are among the essential items to hold your laptop and important documents. Handbag raincoat is for all those who have to deal with frequent rain showers, from casual shopper to business woman use handbag raincoat.
Handbag Raincoat Shark Tank Founder
Morgan and Arley Sarner are the founders of Handbag Raincoat. Who are two Norwood natives. These sisters are the entrepreneurs behind Handbag Raincoats, a fashionable way to keep your purse clean and dry. The two appeared on Sunday’s episode of “Shark Tank” with the hopes of finding a buyer for their goods.
The Handbag Raincoat is a polyurethane based cover that comes in three sizes such as Mini, Midle and maximum. it is printed options like Clear, Jet Black, Raindrop, Star Print with Extra Outer Pockets and City Slicker.. This handbag raincoat has a Velcro top that adjusts to handle. It retails for $11-$20 depending on size and is headquartered in Englewood Cliffs.
Its owner Arley Sarner says that the handbag raincoat acts as an insurance policy for any woman or other people who travel daily in the rain. “With this you don’t mind the rain. You can own the rain and never let it stop you.”
Bags are made available for purchase at Bed, Bath & Beyond, The Container Store and its official website handbagraincoat.com
The sisters Morgan and Arley Sarner, makers of The Handbag Raincoat, were seeking $300,000 for 25 percent ownership of their company. Unfortunately, they left without making any deals. Then find out what happened on Morgan and the Arley Shark Tank Show.
Handbag Raincoat shark tank net worth
Morgan and Arley Sarner entered Shark Tank asking for $300,000 for 25% of their business. and gives his pitch in “Rain Storm” on stage at Shark Tank and goes about his business to the Shark Tank team.
When finished, the Very Wet Girls hand over a sample of it.. He reported that sales so far for the year (2018) are $125,000. Lifetime sales are up to $600,000.
They cost $1.79 to make and $5 for small, $7 for medium, and $9 for large. Retail prices for Handbag Raincoats are $11, $15 and $20. They’re available in around 100 Bed Bath and Beyond locations, as well as Nordstrom and The Container Store, where they’re being evaluated.
He added that he has not spent any money on marketing so far as his patents are protected from legal fees. Sharks all believe it will be extremely difficult to recoup their investment, which drives them all out.
What happened after Handbag Raincoat Shark Tank
The Shark Tank Blog constantly provides updates and reasons for the entrepreneurs who have appeared on the Shark Tank TV show. After finding some information it was found that the mother of the women actually had a patent for the product.
However, no evidence of its patent litigation was found, so the women closed the business in December 2019. Now Arley Sarner is the Senior Manager for Team Boomer at the Boomer Esiason Foundation and Morgan is at Rebecca Minkoff as Design Assistant. There are many products available on Amazon like HandBag Raincoat which you can buy from here as well.