Pitch Introduction
One With swimwear made waves on Shark Tank with their revolutionary seamless swimsuits that fit like underwear. Haley Segar pitched her innovative swimwear line seeking $200,000 for 5% of her company, claiming a $4 million valuation. The entrepreneur from Old Saybrook, Connecticut introduced swimsuits crafted to provide the comfort of no-show underwear in a swimwear format. Her presentation highlighted the discomfort women face with traditional swimsuits featuring tight seams and constricting elastic. Segar’s solution took the concept of comfortable underwear and made it swimmable, creating a unique product category that resonated with the Sharks.
Business Overview
Product/Service: One With offers seamless swimwear designed to fit like beloved no-show underwear. The swimsuits feature raw cut edges that are bonded together rather than sewn with bulky seams, eliminating the uncomfortable digging sensation common with traditional swimwear. The company’s unique construction allows for an edgeless fit without constricting elastic. Problem It Solves: Traditional swimsuits often feature tight seams that dig into the body and elastic that squeezes uncomfortably. Women frequently struggle to find swimwear that provides both comfort and a flattering fit. One With addresses this by eliminating uncomfortable pressure points while maintaining support and style. Target Market: The primary market consists of women seeking comfortable, well-fitting swimwear for recreational swimming, beach vacations, and pool activities. The target demographic values comfort without sacrificing style and is willing to invest in quality swimwear. Unique Selling Proposition (USP): One With swimwear uniquely combines the comfort of underwear with the functionality of swimwear through proprietary construction methods. The bonded edge design and absence of constricting elastic create a distinctive product that stands apart from traditional swimwear offerings.
| Company Details | Information |
|---|---|
| Company Name | One With |
| Industry | Fitness/Sports/Outdoors |
| Location | Old Saybrook, CT |
| Founder | Haley Segar |
| Launch Year | 2021 |
| Website | onewithswim.com |
About Founder’s
Haley Segar, the founder of One With, brings a unique entrepreneurial background to the swimwear industry. Starting a YouTube channel at age 12 before the term “influencer” existed, she demonstrated early business acumen and content creation skills. Her journey from content creator to swimwear entrepreneur showcases her ability to identify market gaps and execute innovative solutions. Segar’s experience in digital marketing and brand building proved invaluable in launching and growing One With from her Connecticut base.
- Started YouTube channel at age 12, building early content creation and business skills
- Identified swimwear comfort gap through personal experience packing for Miami trip
- Self-funded initial business with $130,000 personal investment
- Bootstrapped company growth to $2.3 million in sales
Shark’s and Founder’s QnA
What makes your swimsuits different from traditional swimwear?
We took the concept of no-show seamless underwear that women love and made it swimmable. Our swimsuits have raw cut edges that are bonded together, not sewn with tight bulky seams that squeeze. This allows for a digree elastic free edgeless fit that truly is in a category of its own.
Can you tell us about your sales figures so far?
Absolutely. So far to date we’ve done 2.3 million in sales. 1.3 million of that 2.3 million has been year to date alone, and we launched at the very tail end of 2021.
Are you profitable with those sales numbers?
Yes, we are profitable. We’re selling direct to consumer only as of right now.
What do your swimsuits cost to make and how much do you sell them for?
The bikini tops and bottoms cost about $112 landed to make. We sell them for $49 and $47 respectively, so about a 75% gross margin. The one piece is $23 landed, we sell that for $89.
What’s your background and how much have you invested in the company?
I’ve been working since I was 12. I started a YouTube channel doing beauty and fashion content. I Own 100% of the company and put in about $130,000 of my own money. We also have $300,000 of debt on the business.
What’s your return rate and how does it compare to industry standards?
Our return rate is 11%, which is under the industry average of between 15%. It’s not horrible at all, especially for selling underwear or bathing suits online.
Do you have any direct competitors in the market?
No, we have no direct competitors right now. When you’re wearing undergarments or swimwear, depending on where it hits, that’s where you might get a dent. Our solution requires warming up the suit so it stretches at the sides and gives that smooth edgeless look.
What are you looking for from a shark strategically?
I know that the value a shark could bring to us strategically and opening doors is significant. We’ve only done direct to consumer, but I can’t imagine if we got in retail what that would do for our business.
What’s your customer acquisition cost online?
Our customer acquisition cost is $966 just for ad spend. If we look at ancillary costs like agency costs to run those ads or influencer ad rights, it’s $15 to acquire a customer.
Key Stats & Financials
One With demonstrated impressive financial performance during their Shark Tank pitch, showing strong revenue growth and healthy margins that attracted investor interest. The company’s direct-to-consumer model allowed for high profitability while maintaining competitive pricing.
- Sales: Current revenue figures at time of pitch
- Margins: Profit margins and cost structure
- Valuation: What the entrepreneur valued their company at
- Investment Request: Amount sought and equity offered
- Use of Funds: How the entrepreneur planned to use the investment
| Financial Metric | Details |
|---|---|
| Total Sales | $2.3 Million |
| Year-to-Date Sales | $1.3 Million |
| Gross Margin | 75% |
| Requested Investment | $200,000 |
| Original Equity Offered | 5% |
| Original Valuation | $4 Million |
Business Potential and TAM
The swimwear market represents significant business potential for One With, with the global swimwear market valued in the billions. The company’s unique positioning addressing comfort concerns in traditional swimwear creates an opportunity to capture market share from dissatisfied consumers. The brand’s focus on direct-to-consumer sales model allows for higher margins and better customer relationships compared to traditional retail approaches.
- Global swimwear market valued at several billion dollars with consistent growth
- Unique positioning addressing comfort issues with traditional swimwear
- High margins through direct-to-consumer model (75% gross margin)
- Strong repeat purchase potential due to innovative comfort features
One With: Ideal Target Audience & Demographics
| Demographic | Details |
|---|---|
| Primary Age Group | 25-45 years old |
| Gender | Female |
| Income Level | Middle to upper-middle class |
| Geographic Focus | Primarily US market with coastal state concentration |
| Lifestyle | Active, values comfort and quality in apparel |
Marketing and Distribution Strategy
One With employs a focused digital marketing strategy centered on social media platforms, particularly Instagram and TikTok, where their target demographic is most active. The founder’s background in content creation provides inherent advantages in developing engaging marketing materials and building brand awareness. The company’s direct-to-consumer model reduces distribution complexity while maximizing profit margins.
- Social media marketing focusing on Instagram and TikTok platforms
- Influencer partnerships leveraging founder’s content creation experience
- Direct-to-consumer sales model eliminating retail markups
- Customer acquisition cost tracking and optimization strategies
One With Deal Outcome
One With secured a successful deal on Shark Tank with Jamie Lima and Barbara Corcoran each investing $100,000 for 10% equity, totaling $200,000 for 20% of the company. This represented a significant reduction from Segar’s original $4 million valuation to a $1 million post-money valuation. The deal was notable for its two-shark structure, which is relatively rare on the show.
| Deal Component | Details |
|---|---|
| Sharks Involved | Jamie Lima and Barbara Corcoran |
| Total Investment | $200,000 |
| Total Equity | 20% |
| Post-Money Valuation | $1 Million |
| Investment Per Shark | $100,000 each |
One With Post-Show Update
Following their Shark Tank appearance, One With continued to build on their momentum with strong sales performance and increased brand recognition. The investment from Barbara Corcoran and Jamie Lima likely provided significant resources for marketing expansion and operational improvements. The company’s unique product positioning and proven sales track record positioned it well for continued growth post-show.
Business Analysis & Lessons
One With demonstrates several key entrepreneurial lessons including the importance of solving a real customer problem, leveraging personal experience and skills, and demonstrating strong financial performance. The founder’s background in content creation proved valuable for marketing and brand building, while her early start in business provided valuable experience. The company’s decision to focus on direct-to-consumer sales rather than pursuing retail opportunities shows strategic thinking aligned with current successful e-commerce models.
The pitch also highlights the importance of having strong financials when entering Shark Tank, as One With’s $2.3 million in sales and 75% gross margins clearly demonstrated business viability. The product’s unique positioning with no direct competitors provided a significant competitive advantage, while the founder’s personal investment of $130,000 showed commitment and reduced risk for potential investors.
- Product-market fit is crucial – solving a real customer comfort problem with traditional swimwear
- Strong financial performance with proven sales and healthy margins attracts investor interest
- Personal skills and experience (content creation) can provide competitive advantages
- Direct-to-consumer model maximizes margins and customer relationships
Pitch Conclusion
One With swimwear’s Shark Tank pitch represents a successful example of identifying a market gap and developing an innovative solution. Haley Segar’s presentation effectively communicated the product’s unique value proposition while demonstrating strong business fundamentals. The company’s impressive sales figures, healthy margins, and lack of direct competition created compelling investment opportunities that resulted in a two-shark deal. The pitch serves as an excellent case study for entrepreneurs looking to solve real customer problems while building scalable businesses with strong financial performance.