What Happened To The Swilt After Shark Tank?
When entrepreneur Ivori Tennelle was featured on "Shark Tank," back in Season 3, her vibrant presentation of her Swilt garment immediately caught the attention of the Sharks. Tennelle passionately pitched a new spin on the popular Snuggie and was looking to capitalize on the dying popularity of the infomercial product that decreased in popularity just a few short years after its 2008 launch. With her creation, Tennelle carefully combined a sweatshirt with a quilt by inserting clips to hold the garment together.
The blanket was carefully concealed inside the long sleeve top until it was time to get cozy on the go. Customers could then unclip the quilt, allowing it to roll out from underneath the hoodie with waterproof nylon attached to prevent damage from the elements. Tennelle was seeking a substantially smaller amount than her fellow "Shark Tank" alumni.
Asking for a $30,000 investment in exchange for 35% equity in the company, the optimistic inventor was looking to secure funding for a more cohesive online imprint. She was also hoping the Sharks could help her ramp up production efforts considering that the company had been off to a slow start. Ultimately, Tennelle walked away empty-handed and things didn't exactly pan out the way she expected either.
The Sharks were skeptical about the number of Swilts sold
At the time of her "Shark Tank" debut, creator Ivori Tennelle had only sold 100 of her Swilts at a $29.95 price point. Though a small amount, she'd accomplished this on her own by working the local flea markets and conducting in-person sales. The business owner valued her company at $85,714.29 and was confident that following the show's 2012 air date an influx of new customers would flock to the brand.
While admirable, the panel of Sharks was concerned with the lack of revenue Tennelle was able to bring in independently. One reason for the low profits could have been her product's close proximity to the Snuggie model, which dominated the market for wearable blankets, as explained by Shark Lori Greiner, who actually helped launch the successful product.
Additionally, investor Mark Cuban, who happens to have one of the highest net worths of all the Sharks, raised concerns about the safety of the Swilt. He pointed out that the tucked blanket could cause people to trip over it if they attempted to walk while it is rolled down. Cuban also felt that the overall design was outdated. In the end, none of the Sharks felt comfortable investing in such an unstable creation.
Most remnants of the Swilt have been scraped from the internet
After Swllt founder Ivori Tennelle showcased her invention on "Shark Tank," the company has seemingly gone out of business. The official Instagram only sports seven followers, an indicator that the profile was likely never in use. Additionally, the page remains private. Even more disheartening is that the website domain for the company seems to now belong to an online casino gaming business. A Facebook page for Swilt is still visible but has not been updated since 2017.
It appears that she has abandoned the company altogether, with Tennelle's LinkedIn profile listing her as an Assistant Principal with the Santa Ana Unified School District. Many viewers didn't realize her husband, Wallace Tennelle, was also a founder of Swilt, though he opted not to appear on the show. His LinkedIn account shows him as a Director of Product Management at Spireon but also as the owner of Swilt from Jun 2009 to Jun 2012.
It's unclear why they chose to shutter the business, but when speaking with the Orange County Register, in January 2012, Wallace appeared confident in their Snuggie alternative. In fact, he had so much faith in the clothing item that Wallace got his father to invest in it. In the end, Swilt wasn't among the "Shark Tank" success stories. It looks like the Sharks were right about the company and its earning potential after all.