Are you a workout enthusiast but usually have to hold back on your gym apparel?
Do you love workout yet the chilly weather sometimes forces you to wear apparel that is warm but harsh and sticky on your skin?
Fret not! because Nice Pipes is here with an optimal solution to your everyday apparel problems.
The company focuses on providing stylish yet functional yoga-inspired apparel that will make you unstoppable, whatever the season might be!
Nice Pipes at a Glance:
| Idea | A brand for yoga and comfort apparel. |
| Founders | Lisa Binderow |
| Asked For | $100,000 for 10% |
| Accepted Deal | No deal |
| Sharks | None |
| Business status | In Business |
| Episode No. | Season 8, Episode 13 |
Index:
What is Nice Pipes?
Nice Pipes is a company that offers you a wide range of yoga-inspired leg and arm warmers that will keep you warm during extremely cold conditions without feeling stuffy on your skin.
The company deals majorly in yoga apparel and creates warmers that are sweat-absorbing, have less slippage, and help in compression.
Founder Story:
Lisa, the founder of Nice Pipes apparel was inspired to create the company when she was walking to her yoga studio on a chilly morning.
She was a yoga instructor and required warm layers to cut the harsh cold and her cropped yoga pants were definitely not serving the purpose.
This led her to design Nice Pipes, leg and arm warmers that were made of the same material as yoga pants. They served the purpose of yoga pants as well as did not have a feel of acrylic or wool which can be stuffy after workout sessions.
Did Nice Pipes get a deal on Shark Tank?
Lisa entered the tank with her company demanding an investment of $100,000 for 10% equity. She pitches her story and ideas in front of the panel and hands products out to be tested.
She also claims that all her products are entirely USA made and that she has a huge profit margin in all of them(makes the products for about $7.5-$10 and sells them for around $30-$50).
Lisa says that to date she has sold $80,000 worth of apparel which makes the sharks question her steep valuation demand of $1 million.
Barbara Corcoran loves Lisa’s business idea and hence, offers her $100,000 for 40% equity to which Lisa countered her with 25%.
Since both of them could not come to an agreement, Lisa had to walk away from the tank empty-handed.
What happened to Nice Pipes after Shark Tank?
After the episode went on-air, Nice Pipes got quite the noise created around it and soon became a hot topic among health freaks and training professionals.
She claimed that although she could not nip a deal on Shark Tank because it was impossible for her to give up 40% of what she had built with her efforts, it showed her what was particularly suitable for both her and the business.
She continues running her company successfully in recent times.
Product Details:
- A brand creating apparel majorly for yoga and workout sessions.
- The main products consist of arm and leg warmers-both knee-high and thigh-high.
- The fabric of the products is essentially similar to that of normal yoga pants so that you feel the same comfort in your workout sessions while wearing these.
- The fabric used is also sweat resistant, helps in compression, has less spillage, and has ultraviolet ray protection in it.
- The products range from around $30-$50 and are available on all online marketplaces as well as on their website.
What is the Net Worth of Nice Pipes?
Before entering Shark Tank, the company was valued at $1 million before the pitch and Lisa got offered a valuation of $250k after her pitch, which she politely refused.
As of 2023, Nice Pipes is still in business and has an annual revenue of about $4 million. The company is currently valued at around $500k.
Who are the main competitors of Nice Pipes?
The top competitors of Nice Pipes are as follows:
- Skater Socks
- Artisan Socks
- Urban Knitta
- Heat Holders
- Twitten
- Capo Cycling Apparel
Is Nice Pipes still in business?
Yes, Nice Pipes is still in business as of 2023 and is clocking an annual revenue of around $4 million.
The company has been growing slowly and steadily and has a decent amount of sales from Amazon as well. Although the social media pages of the company have been silent since the year 2018.
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FAQs:
What is Nice Pipes?
Nice Pipes is a company that offers you a wide range of yoga-inspired leg and arm warmers that will keep you warm during extremely cold conditions without feeling stuffy on your skin.
What's the net worth of Nice Pipes?
Before entering Shark Tank, the company was valued at $1 million before the pitch and Lisa got offered a valuation of $250k after her pitch, which she politely refused.