Byoot Swimwear appeared on Shark Tank Season 12 Episode 14 and landed a deal with Kendra Scott. After landing a deal with such a powerful guest shark, many are looking for a Byoot Swimwear update after Shark Tank. Don’t worry, we’ve got you covered.
Shark Tank Byoot Swimwear Update
- Entrepreneur: Elyce and Nathan Billany
- Business: Button-up swimwear for women
- Ask: $50,000 for 30% equity
- Result: $50,000 as a loan with 10% interest and 5% equity
- Shark: Kendra Scott
During their time on Shark Tank, Byoot founders Elyce and Nathan Billany shared that Elyce came up with the idea for the button-up swimsuits when she and her husband were on a trip to Jamacia. After she kept having to pull up her swimsuit after going to the bathroom, she thought, surely there must be a better way.
On the same trip, Elyce started sketching designs for what would eventually become Byoot Swimwear. The suits are unique because they have buttons on the side, that allows women to easily use the restroom without having to deal with the hassle of pulling up a wet swimsuit.
At the time of the pitch on Shark Tank, Byoot Swimwear only had $10,000 in lifetime sales. However, due to the COVID-19 pandemic, Elyce started doing virtual fittings and has started to see a lot of success with those. Currently, each suit costs around $30 to make and retails between $59-$120.
Despite a lack of sales, guest shark Kendra Scott was interested and offered Elyce and Nathan $50,000 as a loan with a 10% interest rate and 5% equity in the business. After thinking it over, Elyce accepted the deal and Byoot left the tank with a deal.
In terms of a Byoot Swimwear update, just before it appeared on Shark Tank, Elyce and Nathan launched a line of Byoot Bikinis to compliment the one-piece option showcased in the tank. In the coming weeks and months, Elyce and Nathan will likely be getting things up and running with Kendra, work on new designs, and prepare a marketing plan for the upcoming swimming season.
When we get a more official Byoot Swimwear update, we will be sure to let you know. In the meantime, if you’d like to purchase a swimsuit or learn more about the company, you can do so on the Byoot Swimwear website.
Additionally, be sure to check out updates from the other companies that appeared on Season 12 Episode 14 below!
Further, for more Season 12 company updates, be sure to check out our Season 12 products page.