What Happened to NicePipes after the Shark Tank Pitch? NicePipes Shark Tank Update
What is NicePipes?
NicePipes is a company that offers a variety of high leg and arm warmers in a range of colours and designs. Thigh-high and knee-high leg warmers are available.
The items are perfect for women’s exercise routines due to a variety of benefits. For instance, NicePipes are moisture-wicking and provide UV protection.
Lisa Binderow is a mother, a wife, and an avid yoga practitioner. She founded NicePipes in 2014 in response to inquiries about her clothing from students and teachers at her yoga school.
Binderow spent seven years in New York, initially as a fitness trainer and subsequently as a program manager, at a national chain yoga studio.
The finest inventions frequently arise out of a necessity.
Binderow lived and worked in New York City, which has brutal cold winters. During the frigid mornings, she frequently walked or ran to her yoga studio.
She discovered that conventional wool and acrylic leg warmers were inconvenient on her skin.
Additionally, she felt that her yoga attire did not give adequate protection from the elements.
Binderow frequently donned her yoga clothing while running errands in New York City.
This meant she spent the most of the day in her sweaty gym attire. Her solution was layering, but she didn’t want to invest in a new training clothing.
Binderow’s solution was both straightforward and beautiful. She moulded and chopped yoga bottoms into leg and arm warmers.
Because so many children and instructors expressed an interest in purchasing her NicePipes, she quit her job and began her own business.
To date, her items have performed admirably on Amazon. Arm warmers cost $32, knee-high leg warmers cost $42, and thigh-high leg warmers cost $46, respectively.
They are available in a range of colours and designs and also provide slight compression.
Who is the Founder of NicePipes?
Lisa Binderow founded the company in 2014.
What happen to NicePipes at the Shark Tank Pitch?
Lisa Binderow entered Shark Tank Season 8 Episode 13 seeking a $100,000 investment in exchange for 10% ownership. This translates with a $1 million value.
She explains how and why she created them and distributes samples in response to queries.
She informs the Sharks that she sells them for $42 and creates them for between $7.50 and $10.
Lisa informed the Sharks that they were handmade in Los Angeles.
Robert inquired as to how she marketed them, and she informed him that she sells them both online and via retail outlets.
Robert inquired as to Lisa’s sales figures.
Lisa stated that she began in her flat 18 months ago. She stated that she made around $80,000 in sales that winter, prompting Robert and Mark to cast doubt on her value.
Kevin does not believe it is proprietary, and he believes that anyone might easily swindle her.
Lori is inquiring as to the amount of money she has invested in the firm. Lisa informed her that she had invested $300,000 in the venture. Lisa revealed that she was now holding on merchandise totalling $65,000.
Kevin is unable to overcome the valuation and exits.
Robert stated that he was perplexed as to why she had made the rational decision to increase the value to $1 million, and so he decided to go out.
Mark advised her to get out there and sell her merchandise; he claimed that the business was not a good fit for him and left.
Lori admires Lisa and believes it is a lovely business, but it is not for her, and she leaves.
Barbara is the final Shark standing, offering $100,000 in exchange for 40% of the business. Barbara said that there is a significant caveat in the deal: her firm Grace and Lace would have to join with her.
She stated that she desired $100,000 in return for 25% equity. Barbara informed her that this was not possible.
Lisa inhaled deeply and stated that while she appreciated the idea, she could not give up 40% of her business.
Lisa gently refuses Barbara’s offer and exits the room without concluding anything.
NicePipes after the Shark Tank Pitch
NicePipes continues to grow in popularity, with consistent sales on Amazon and at yoga classrooms.
NicePipes continues to manufacture and sell arm warmers online for $38; knee high leg warmers for $42; and thigh high leg warmers for $48, respectively.
Lisa is pretty content with her balanced life of operating her company and giving her yoga courses.
At the end of the day, she adds, it was not worth it for her to give up 40% of something she had worked so hard on.
The company is still operating as of November 2021, with yearly sales of $4 million.
NicePipes Net Worth
Sites such as Owler state that the company’s net worth is around $5 million.
NicePipes Competitors
There is no competitor identified for NicePipes.
NicePipes FAQS
What is NicePipes?
NicePipes is a company that offers a variety of high leg and arm warmers in a range of colours and designs.
Thigh-high and knee-high leg warmers are available.
The items are perfect for women’s exercise routines due to a variety of benefits.
For instance, NicePipes are moisture-wicking and provide UV protection.
Who founded NicePipes?
Lisa Binderow founded the company in 2014.
How much was she asking in the Shark?
She was seeking $100,000 for 10% of the company.
How much did get from the Sharks?
Lisa Binderow declined to give 40% of the company in return for $100,000 from Barbara and leaves the Tank without a deal.
Is NicePipes still in business?
The company is still operating as of November 2021, with yearly sales of $4 million.
Can they work out in their NicePipes?
Yes! And when they warm up, it’s extremely simple to peel them off and place them in their NicePipes pouch.
What does one size fits most mean?
NicePipes are designed to fit a range of leg and arm sizes.
Due to the supplex fabric’s ability to expand beyond its real proportions, one size fits most legs and arms.
What is the washing situation?
Cold machine wash. Tumble dry on low heat and avoid fabric softeners, which can degrade the fabric’s ability to wick away moisture.
Do not iron, and they emphasize this point.
What is this magical fabric they call Supplex?
Supplex mixes the feel of cotton with current technology to create a breathable, moisture-wicking, durable fabric that maintains its shape and colour and dries quickly.
What is their return policy?
They are overjoyed that they have chosen to incorporate NicePipes clothing into their training regimen.
They stand 100% behind their stuff. If customers are not totally pleased, they will gladly exchange it for something else they adore or receive a refund in the form of the product’s worth.
They must initiate their return or exchange by contacting [email protected]nicepipesapparel.com.
Where can they find NicePipes?
They can find them on their website, Facebook, Twitter
How much is the net worth of NicePipes?
According to Owler, the net worth of NicePipes is approximately $5 million.
Where are NicePipes located?
NicePipes is manufactured in Los Angeles, California.
How is NicePipes rated?
NicePipes is rated 4.5 out of 5 on amazon.
What made materials are NicePipes made of?
The products are made of supplex, a water-repellent, stretchable fabric that dries quickly and resists odour.
What is the net worth of Lisa Binderow?
Lisa Binderow’s projected net worth as of 2021 is $1 million.
Are NicePipes successful?
NicePipes has been in existence for about five years, and the company has purportedly made millions of dollars since its creator debuted on Shark Tank.
What is the net worth of NicePipes Apparel?
NicePipes Apparel’s net worth is approximately $5 million.
