What Happened To SHEFIT After Shark Tank?
It's essential to wear a sports bra when working out, but it can be hard to find the right one. The company SHEFIT makes customizable sports bras meant to provide extra comfort while working out. Appearing on "Shark Tank" in Season 7, Episode 15, SHEFIT creators Sara and Bob Moylan pitched their product to the sharks. Years prior to their "Shark Tank" appearance, the store-bought sports bras Sara wore at the gym were not working for her, so she made her own prototype. Other women at the gym were intrigued by the design, sparking Sara to have a seamstress make a more legitimate sample. In 2013, Sara made a Kickstarter campaign for SHEFIT and raised over $22,000.
The SHEFIT bras come in a variety of sizes. They have removable padding and can be adjusted to fit best based on the wearer's body type. Sara and Bob gave the sharks samples of their bras and Sara told them about her patent for the way the SHEFIT can be customized. Sara and Bob asked for a $250,000 investment for 20% equity in the company, and they planned to use the investment to cover the costs of inventory, manufacturing more bras faster, and a better website and marketing.
SHEFIT currently earns about $7 million per year
Sara and Bob Moylan walked away from "Shark Tank" with an accepted offer from shark Daymond John, who had the third-highest net worth out of all "Shark Tank" stars as of 2021. John offered a $250,000 investment with 33.3% equity in their company, but he wanted them to say yes or no right away. Although it was higher than their proposed equity percentage, Sara and Bob took the deal.
The SHEFIT company seems to be doing well since its "Shark Tank" episode. They earn approximately $7 million in revenue annually and have 4.48 out of five stars from over 71,000 reviews. They offer different styles of sports bras depending on how active you are in your workout. If you are not sure which size sports bra to order, you can sign up for a virtual fitting on the SHEFIT website, where a Fit Expert will guide you on how to properly take measurements to get the right bra size. In addition to their first product — adjustable sports bras — SHEFIT now also sells other workout gear, including tank tops, leggings, hoodies, and more.
SHEFIT has had its fair share of legal trouble
SHEFIT sports bras have become an official partner for USA Pickleball and have been featured in outlets such as Byrdie and Glossy. However, it has not been entirely smooth sailing since their "Shark Tank" appearance as they have gotten into some legal trouble. Two examples of this happened in November 2022, when two ex-executives of SHEFIT sued the company. Former CEO Angel Ilagen said that he told another employee that he planned to report Sara and Bob Moylan to the IRS for tax evasion and was fired, according to his lawsuit against the company. Ilagen believed he was wrongfully terminated and should have been protected by Michigan's Whistleblower Protection Act, the lawsuit said. He also was not given his proper severance payment, according to the lawsuit.
Michelle Zeller, former chief marketing officer, also sued SHEFIT for wrongful termination — she said she experienced sexual harassment in the form of inappropriate comments about her and her wife from Bob, according to her lawsuit. Zeller claimed in the lawsuit that she was also asked by Sara to fire two employees because of their weight. Zeller complained to HR and refused to fire those employees, and was fired herself, according to the lawsuit. Like Ilagen, Zeller said she did not receive proper severance. The sexual harassment lawsuit was settled in January 2023.