Whatever Happened To BootayBag After Shark Tank?
Ellyette "Elly" Gheno (or Ellyette Rae to her Instagram followers) described being fed up with the humiliating and taxing exercise of digging through bargain bins for affordable undergarments. Thus, she borrowed just $300 and began working on BootayBag, an underwear subscription service run by women, for women. By the time Elly entered the titular "Shark Tank" to pitch BootayBag to Mark Cuban, Kevin O'Leary, Barbara Corcoran, Lori Greiner, and guest shark Kendra Scott, BootayBag had already done $15 million in gross sales. Due to manufacturing costs and grievances, however, Elly only ever kept 5% of that revenue. She sought $500,000 in exchange for 5% of her company, mainly seeking guidance from more experienced businesspeople — such as Kendra, whom Elly gleefully admitted was something of a hero to her.
Kendra immediately made Elly an offer of $500,000 for 10%, which then became a joint offer with Barbara for 20% at the same price — slashing BootayBag's valuation from $10 million to $2.5 million. Kevin offered a slightly nicer 15% offer, but Elly was visibly uncomfortable with giving up so much of her company. Recognizing and empathizing with this, Kendra rescinded her joint offer with Barbara and went back to her original proposal. Elly immediately accepted.
Recently, KENT Underwear followed in BootayBag's footsteps to pitch the Sharks on disruptive underwear — but did the BootayBag subscription survive the perils of the pandemic?
BootayBag is going strong
BootayBag is still very much in business, and Ellyette Gheno appears to still be involved. Both her personal Instagram and her BootayBag accounts have been verified, which is worth mentioning due to how important Elly said social media was to their pre-Tank sales. At 213,000 followers, recent engagement ranges from 169 likes and one comment to over 3,000 likes with a few dozen comments. Elly's personal Instagram has just under 8,000 followers. The company has still held true to its mission to show real women of all shapes and sizes wearing its products, which gives its social media presence (and business in general) an endearing and approachable vibe.
On their website, BootayBag's product line has seemingly expanded. They sell bodysuits, corsets, shorts, and leggings, which were not discussed in Elly's original pitch. Prices for these items individually range from just $10 to $50-60. At that price level, BootayBag isn't that much cheaper than a high-end competitor like Victoria's Secret, though their less expensive styles are still a decent option for cost-cutters. As for their flagship subscription service, it's $15 to receive one thong per month, and $36 to receive a matching set (not including shipping).
It is unclear if Kendra Scott and Elly are still working together, but Elly appears to be on the brink of a new venture called Nunya Wellness.