Fitness does not always need old -fashioned dumbbells and barbells. Natalie Holloway and Max Kislevitz realized this, so they created a stylish wrist and ankle weight. They promoted their business Bala Bangles in the 11th season of “Shark Tank”. After reaching an agreement with the two shark teams, the value of the Bara bracelet will reach $ 10 million by 2025.
Know the founder
Natalie Holloway and Maximilian Kislevitz are married couples from Los Angeles, California. Earlier, they all worked in marketing agency 72AndSunny and worked in the advertising industry for more than 10 years.
The couple gained experience in cooperation with major brands such as Starbucks and Google. This is a considerable source of income for them, but also leads to their burnout.
Eventually they left 72AndSunny and used Southeast Asia every other year. During this period, the two spent a lot of time to achieve fitness goals through daily yoga classes.
Create a Bara bracelet
When Natalie and Max enjoyed the benefits of regular exercise during the holidays, they remembered how difficult it was to join the fitness plan in their busy life. The two discussed how to make busy people exercise easier.
Discussion eventually led to the weight of the famous wrist and ankle in the 1980s. It inspires the idea of re -inventing these tools with a more modern appearance. In 2017, they launched the adjustable Bala bracelet.
In order to establish this company, they paid $ 10,000 for their own pockets and raised $ 40,000 through CICKSTARTER crowdfunding. By 2019, the company's sales have reached $ 2 million, but they don't want to stop there.
Appears in “Innocence Winning”
In 2020, Natalie Holloway and Max Kislevitz appeared in the “SHARK TANK” program, asking for $ 400,000 for 10% of the equity. Their goal was impressed by the Shark team, including the former tennis player Shark Sarahbova.
As a fitness enthusiast, lightweight and stylish fitness equipment immediately aroused Maria's interest. Other sharks were caught off guard about the amazing profit margin and lifetime sales of this startup. In the end, Mark Kuban and Sarapova jointly invested $ 900,000 to receive a 30%equity.
Update after “Innocence Winning”
The appearance of Shark Tank helped them achieve a sales of $ 3 million through various pickup stores and fashion websites. Of course, propaganda is helpful, but people like unique designs. When the popularity is coming, sales continue to increase.
One month after the episode was broadcast, the fitness room and gym across the United States were closed due to safety regulations. This caused a family fitness boom, and Bala Bangles benefited a lot from it. As of the end of 2020, the company's market value was 10 times that of its initial value.
At present, bracelets are available in more than 500 retail stores in the United States, with an annual income of $ 20 million. As of January 2024, life -long sales have reached $ 64 million. Now they plan to launch 10 new products to the market. Therefore, the valuation of $ 10 million is expected to grow in the next few years.
Categories: Shark Tank
Source: svlsf.edu.vn