Shark Tank Season 12 Episode 14 | Recap, Products, Deals
Shark Tank Season 12 Episode 14 Recap
Amazon productIf you’re in a hurry, below you’ll find a quick summary of Episode 14.
- Pitch 1: Pashion Footwear
- Result: No Deal
- Pitch 2: Souper Cubes
- Result: $400,000 for 5% equity
- Pitch 3: Byoot Swimwear
- Result: $50,000 as a loan with 10% interest and 5% equity
- Pitch 4: Sienna Sauce
- Result: $100,000 for 20% equity
Further, if you keep reading, you’ll find a full
Pashion Footwear
- Entrepreneur: Haley Pavone
- Business: High heels that can be turned into flats
- Ask: $500,000 for 5% equity
- Result: No Deal
- Shark: None
The first company featured in Episode 14 was Pashion Footwear, an innovative shoe company founded by Haley Pavone. Starting the company while in college, Haley has created a shoe that can go from a high heel into a flat in a matter of seconds. She shared that the idea came to her when she was at a sorority party in college and a friend stepped on her foot in a pair of stilettos while dancing. After the heel went completely through her foot, she decided there had to be a better way, and Pashion Footwear was born.
After graduating college, Haley was able to continue to grow the company into $800,000 in sales in just over a year. However, due to a 24% return rate, the company only netted $500,000 in sales during that time. However, Haley shared that the average return rate in the footwear industry is around 20% due to sizing issues.
Further, Haley shared that all of the Pashion Footwear sales are online and that they don’t have a retail store presence. With only a few hundred thousand dollars left in the bank and a $90,000 a month burn rate, Haley said that Pashion Footwear would only make it a few more months if she didn’t leave with a deal.
However, due to the high burn rate and competitive space, only Kevin O’Leary was interested. He offered her $500,000 for 50% equity with a $5 royalty until $1 million was repaid. Despite a few negotiation attempts, Kevin was unwilling to budge and Pashion Footwear left the tank without a deal.
If you’d like to purchase a pair of shoes or learn more about the company, you can do so on the Pashion Footwear website.
Souper Cubes
- Entrepreneur: Souper Cubes
- Business: Cubes to freeze leftovers
- Ask: $400,000 for 5% equity
- Result: Lori Greiner
- Shark: $400,000 for 5% equity
The second pitch of the night on
With a sturdy silicone design, each storage tray is designed with multiple individual cubes in a variety of sizes. After it’s frozen, you can simply pop out a cube to re-heat and stick the rest back in the freezer. This helps to prevent you from having to heat up a larger serving than desired.
All the sharks were blown away with the design and creativity of the product and were even more excited with Jake and Michelle shared that it did $990,000 in sales in 2019 and had done $1.6 million in sales so far in 2020 with an estimate of $3.3 million by the end of the year. Further, each tray costs $3.80 to make and retails for $19.95.
Jake and Michelle received offers from Kevin O’Leary, Barbara Corcoran, and Lori Greiner. Kevin made two separate offers, one of which was $400,000 for 15% equity and the other was $400,000 for 3% equity with a $0.40 royalty until $1 million was repaid. Barbara also made two offers: $400,000 for 10% equity or $800,000 for 20% equity.
Lastly, Lori Greiner took time to award Souper Cubes with her “Golden Ticket,” meaning it’s the best company she had seen all season. She offered them $400,000 for 5% equity, which is exactly what they asked for. Obviously, Jake and Michelle accepted her offer and Souper Cubes left the tank with a shark on its team.
Byoot Swimwear
- 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
Elyce and Nathan Billany appeared on
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, Byoot Swimwear had only sold $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.
If you’d like to purchase a swimsuit or learn more about the company, you can do so on the Byoot Swimwear website.
Sienna Sauce
- Entrepreneur: Tyla-Simone Crayton
- Business: Wing sauce
- Ask: $100,000 for 10% equity
- Result: $100,000 for 20% equity
- Shark: Kendra Scott
The final pitch of
After a quick taste test, things got down to business in the tank and Tyla shared that currently, Sienna Sauce was available in 68 retail stores and online. In terms of sales, Sienna Sauce had done $255,000 in lifetime sales, with $171,000 in sales over the last 12 months.
The enjoyable taste test and strong sales were enough to interest Kendra Scott, who offered Tyla $100,000 for 20% equity in Sienna Sauce. After talking it over with her mom, Tyla accepted the deal.
For more
- Shark Tank Season 12 Episode 13 Recap
- Shark Tank Season 12 Episode 12 Recap
- Shark Tank Season 12 Episode 11 Recap
For updates on Season 12 companies, be sure to check out our Season 12 Products page.
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!