Hot Mama Gowns Net Worth
Hot Mama Gowns was a company that made hospital gowns for mothers. It appeared on Shark Tank and was valued at $1.5 million. However, it is no longer in business and has a net worth of $0. The company was previously valued at around $150,000.
What is Hot Mama Gowns and Who is the founder of Hot Mama Gowns?
Hot Mama Gowns is a line of organic cotton hospital gowns designed to provide comfort and style for pregnant and nursing mothers.
Founder Deidrea Haysel, a pharmaceutical representative, mother, and wife, was inspired to create the gowns after her own postpartum hospital stay.
During her hospital stay, Haysel found the standard-issue hospital gowns to be uncomfortable and unflattering, making it difficult to nurse her newborn daughter and feel attractive.
She began making her own gowns out of organic cotton, eventually expanding to create a line of gowns in sizes 2-24 to accommodate a variety of body shapes and sizes.
Initially selling the gowns on eBay, Haysel eventually transitioned to a full-time business, enrolling in business school and hiring a fashion designer to improve the aesthetic appeal of her products. Today, Hot Mama Gowns are available in a variety of styles and sizes, providing pregnant and nursing mothers with comfortable and dignified clothing options.
Hot Mama Gowns Shark Tank pitch
During the Shark Tank pitch in season 2, episode 6, Deidrea Haysel presented her Hot Mama Gowns business to the investors seeking $30,000 in exchange for a 20% stake in her company, valued at $150,000. Despite showing enthusiasm and answering the Sharks’ questions appropriately, Haysel’s personal sales were meager, with only $11,500 in sales in the first two years.
Some Sharks doubted the market potential and Haysel’s ability to establish a marketing program. Only Barbara Corcoran made an offer of $30,000 for a 40% equity share, but Haysel believed it was excessive and rejected the offer.
Despite her loss on Shark Tank, Haysel continued to expand her business gradually through internet sales and retail stores, lowering her pricing point from $119 to $69-89 per gown. Hot Mama Gowns are still available on her website, but the company ceased operations in 2013.
Competitors of Hot Mama Gowns
While there are many maternity clothing brands that focus on creating cute, comfortable, and affordable options for pregnant women, these two companies are Hot Mama Gowns’ closest competitors: Begg Maternity and Tilly’s Maternity.
Net Worth of Hot Mama Gowns
The company was valued at $150,000 during and after the pitch. Since then the company is no longer in operation and hence the current net worth is unavailable.
Hot Mama Gowns FAQs
What is Hot Mama Gowns?
Hot Mama Gowns is a maternity clothing company that offers organic, shape wear and nursing friendly gowns for expecting mothers.
When was Hot Mama Gowns Founded?
The company was established by Deidra Haysel.
How much was asking on Shark Tank?
Deidra asked for a $30,000 investment in exchange for 20% equity in the company.
Did she have the deal?
No, Barbara Corcoran made an offer of 40% equity in the company. However, Deidra declined this deal.
Is Hot Mama Gowns still in business?
The company ceased operations in 2013.
Where is Hot Mama Gowns located?
The company was based in Los Angeles, California. However, it is now out of business.
Is Hot Mama Gowns available in stores?
No, the company is not available in stores. However, Hot Mama Gowns is available on the Hot Mama website.
How does Hot Mama Gowns make money?
Hot Mama Gowns makes money by selling their gowns through their internet store and retail stores.
What is Hot Mama Gowns’ revenue?
The revenue generated by the company is not disclosed publicly.
Was Hot Mama Gowns a scam?
Hot Mama Gowns was not a scam. However, it was criticized a lot by the Sharks on Shark Tank.
Who are the competitors of Hot Mama Gowns?
Hot Mama Gowns’ closest competitors are; Begg Maternity and Tilly’s Maternity.
Was Hot Mama Gowns accepting PayPal?
Yes, Hot Mama Gowns accepts PayPal.
How is Hot Mama Gowns different from Tilly’s Maternity?
Tilly’s Maternity is a maternity clothing manufacturer with a retail store as well. Tilly’s Maternity also has a maternity line of clothing used during pregnancy. On the other hand, Hot Mama Gowns has no retail stores and only sells products online.
Was Hot Mama Gowns had a return policy?
Yes, Hot Mama Gowns has a 30-day return policy.
What is the return policy of Hot Mama Gowns?
The company offers a 30-day money back guarantee to its customers.
How can I contact Hot Mama Gowns?
Hot Mama Gowns can be contacted by email and phone. The email address is; [email protected] and the phone number is 1-424-268-9937.
Can I find Hot Mama Gowns on social media?
Yes, one can find Hot Mama Gowns on Facebook, YouTube and Instagram.
How many Hot Mama Gowns stores are there in the world?
There are no retail stores now but customers can buy Hot Mama gowns in their online store.
How many employees work at Hot Mama Gowns?
The number of employees working at Hot Mama Gowns is currently unknown.
What is the net worth of Deidra Haysel?
Deidrea Haysel net worth is $1.3 Million.
