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Bermies Swimwear Shark Tank Update

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Are you a huge fan of colors, crystal clear waters, and pink sand beaches of Bermuda and want your swimwear to reflect the same?

Do you want to elevate your swimming experience without compromising the colors and patterns of your swimwear?

Bermies Swimwear is here as a one-stop solution to all these problems.

The company presents to you a range of swimwear that is high-in-quality, affordable, stylish, and made up of breathable and easy-drying materials to elevate your vacation experiences.

Bermies Swimwear at a Glance:

IdeaCollection of premium Men’s Swimwear
FoundersUki Deane
Asked For$200,000 for 20%
Accepted DealNone
SharksNone
Business statusIn Business
Episode No.Season 9, Episode 24
Buy on AmazonBuy Now!

Index:

What is Bermies Swimwear?

Bermies Swimwear is a company that deals with providing comfortable swimwear to men, women, and children of all ages.

The aim of the company is to provide materials made of quality material and at the same time is breathable and have excellent drying facilities.

The brand was built by Uki, who wanted to provide common masses with access to swimwear made of high quality so that their swimming experience gets elevated.

Founder Story:

Uki Deane, the founder of Bermies Swimwear is an Argentinian entrepreneur who got the idea of creating the company while he himself was in search of swimwear like swim trunks that were affordable and of considerable quality.

He thus made the products under the name Bermies Swimwear with advantages like excellent quality, low-on-range prices, non-chaffing, quick drying, and comfortable-to-wear swimwear.

The company proves to be a perfect example of how need can be changed into opportunity.

Did Bermies Swimwear get a deal on Shark Tank?

Uki entered Shark Tank with an ask of $200,000 in exchange for 20% equity in his company, thus evaluating the company to $1 million.

He presents his pitch by explaining what kind of fabric is popular among users of swimwear and why. He also hands out samples of his product.

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The samples provided cost only $9.80 to make while he sold them for $49 per piece. The sharks though impressed by the product and price point, were still skeptical about the online presence which was only 20% compared to the 80% of his sales from it.

They were also unsure about the competition in the market and hence, no shark struck a deal with Uki and he had to return empty-handed.

What happened to Bermies Swimwear after Shark Tank?

Before appearing on Shark Tank, Uki launched Bermies Swimwear with a successful Kickstarter campaign in 2016.

After the episode went on-air, the company decided to increase its range in the swimwear industry and launched high-quality swimwear products for men, women, and children, all at a $49 price range. The company also started a range of caps and other accessories.

The products are now available at retail shops like Nordstrom Rack, and Man Outfitters as well as through Amazon. As of June 20, 2021, the company generates an annual revenue of $1 million through various retail outlets.

Product Details:

  • Bermies offers a collection of men’s Swimwear like trunks and shorts with vibrant and tropical colors and patterns.
  • The trunks are made up of 90% polyester and 10% lycra.
  • They are lightweight and comfortable to wear. It also has the advantage of quick drying due to the fabric used.
  • The two types of board shorts offered are The Classics and The Originals.
  • the company also came up with a women’s bikini line recently.

What is the Net Worth of Bermies Swimwear?

Before and while entering Shark Tank, Uki evaluated his company at $1 million. He launched his company with a successful Kickstarter campaign in the year 2016.

After participating in the show, the company’s sales increased manifolds and its estimated Net Worth as of 2023 is now $1 million.

Who are the main competitors of Bermies Swimwear?

The primary competing competitor companies of Bermies Swimwearare:

  • Men Bathing Suit
  • Athleticandleisurewear.com
  • Retailala.com
  • Driplitt
  • B-conceited

Is Bermies Swimwear still in business?

Yes, Bermies Swimwear is still in business and is in fact performing quite well in the swimwear industry. The founder has collaborated with many retail outlets to showcase his product countrywide.

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FAQs:

What is Bermies Swimwear?

Bermies Swimwear is a company that deals with providing comfortable swimwear to men, women, and children of all ages.

What's the net worth of Bermies Swimwear?

Before and while entering Shark Tank, Uki evaluated his company at $1 million. He launched his company with a successful Kickstarter campaign in the year 2016.

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