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Swilt Shark Tank Update

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Swilt is the combination of a sweater and a quilt. Swilt is a convenient and fashionable way to carry you on a wintry night. Swilt is an upgraded version of Snuggi. The Swilt comes with a pair of holes to put your hands in and a hood to cover your ears.

Swilt was designed first, especially for mothers who have to sit in stadiums during different games on wintry nights, but its need has been discovered by many other groups as well. The Swilt can be arranged to turn into a sweatshirt and also into a quilt, whatever is required. Swilt is made up of nylon material to resist water.

Swilt at a Glance:-

IdeaSwilt is a combination of a sweater and quilt hoodie.
FoundersIvory Tennelle
Asked For$30,000 for 30% equity
Accepted DealNo  deal
SharksNo sharks
Business statusOut of business
Episode No.Season 3, Episode 4

Index:

Who are the founders of Swilt?

 Ivory Tennelle is the founder of Swilt. She wanted to create something fashionable, trendy as well as comfortable for the supportive mothers who sit through wintry nights for their children’s games. So, she created something that can be used as a quilt as well as a sweatshirt.

She took her product to flea markets to sell but the numbers were not great. She sold only 100 units. So, she decided to take her business to Shark Tank to get some investment and expertise in sharks.

Did Swilt get a deal on the Shark Tank?

The founder of Swilt came on the show seeking an investment of $30,000 in exchange for 30% equity in return. Swims demonstrated and explained her product and gave samples to all the sharks. All the Sharks were amused and impressed by her presentation. Robert Herjavec asked about the sales figures. Swims shared that they are doing very low in sales, websites need upgrading and she wants to acquire more products. This made all the sharks blow out.

Mark said it looked like a monk’s robe. Mark didn’t want to go with blankets and went out. Kevin O’Leary tries to push Daymond John in front of Tennelle by saying ‘he is a FUBU guy, go get him. Swims tried to relate her brand with Snuggie. Lori Greiner encounters that they are completely separate and Snuggi is no longer to see in the market and, for the same reason, she goes out.

Robert Herjavec and Kevin O’Leary didn’t feel that the product was even quite attractive, which made both of them go off the pitch. Swims tried to get Daymond John but he was not to go into this business and went out. No offer took place and no deal was made.

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What happened to Swilt after the Shark Tank?

Since Tennelle had to move out of the Shark Tank without any deal, the Swilt totally sank in the market. On the show, The Swilt could not convince any of the sharks to come on board because the business had no marketing plan, very few sales and no patents. The Swilt was also not proven.

This made the sharks disinterested because Shark Tank is a place to show that the business has some potential to gain revenue in the future. The sharks cannot be convinced if they cannot be guaranteed enough returns on their investments. This was the exact case of the Swilt. After the show, the social media handles of Swilt had not been updated for many years and the website had also been shut down.

During the pitch, the valuation of Swilt was $100,000. Later, no other valuation was offered. Unfortunately, after the show, Tennelle gradually started to lose her business and went out of the market. After the show, for a few years, orders were accepted on the website but no updates were made. After closing the business, the founder, Ivory Tennelle, is an assistant principal at Segerstrom High School in Irvine, California, as of the year 2021.

Competitors of Swilt:-

There are no identical competitors of Swilt. There are a few alternatives to Swilt, like various sweatshirt manufacturers, but they are not the same.

What is the net worth of Swilt?

As of 2022, the estimated net worth of Swilt is zero. The valuation before was to be $250,000, which, unfortunately, after years, went down.

Is Swilt still in business?

Swilt is no longer in operation and is out of the market as of the year 2022. Swilt had low sales, no patent approval, and other challenges along the route. Tennelle decided to better pack it off and went back to work as Assistant Principal of Segerstrom High School in 2021.

Swilt Social Links:

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FAQs:

What is Swilt?

Swilt is the combination of a sweater and a quilt. Swilt is a convenient and fashionable way to carry you on a wintry night. Swilt is an upgraded version of Snuggi. The Swilt comes with a pair of holes to put your hands in and a hood to cover your ears.

Who founded Swilt?

Ivory Tennelle is the founder of Swilt. She wanted to create something fashionable, trendy as well as comfortable for the supportive mothers who sit through wintry nights for their children’s games. So, she created something that can be used as a quilt as well as a sweatshirt.

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