Pitch Introduction
Stringys Shark Tank pitch introduced a revolutionary invisible underwear concept that caught the attention of Barbara Corcoran, leading to a significant investment deal. The pitch featured founders Olivia Karina and Elvira Troger showcasing their seamless, undetectable undergarments that eliminate panty lines completely.
Business Overview
Product/Service: Stringys offers invisible, seamless undergarments designed to eliminate panty lines completely. These undergarments feature magical disappearing straps that adapt to the body without riding up, rolling down, or digging in. Problem It Solves: Traditional underwear creates visible panty lines under clothing, especially with fitted or sheer garments. Stringys addresses this fashion dilemma by providing completely invisible undergarments. Target Market: Women who wear fitted clothing, attend social events, or need invisible undergarments for professional settings. Unique Selling Proposition (USP): Stringys’ patented design and seamless technology make their undergarments completely invisible under any clothing while maintaining comfort and durability.
| Company Detail | Information |
|---|---|
| Company Name | Stringys |
| Industry | Fitness/Sports/Outdoors (Underwear) |
| Founders | Olivia Karina and Elvira Troger |
| Location | Los Angeles, CA |
| Launch Year | 2023 |
About Founder’s
Olivia Karina and Elvira Troger are best friends and business partners who identified a common problem in the fashion industry. Olivia began modeling at age 12 and went full-time at 17, working with major brands and agencies. Elvira is originally from Sweden and moved to Los Angeles at age 22 to pursue acting, starring in several films and TV series. Their shared frustration with visible panty lines during photoshoots and events led them to develop Stringys, an innovative solution that combines their fashion industry experience with entrepreneurial vision. Elvira is also a professional producer and has worked as Associate Producer on upcoming films.
- Olivia Karina: Professional model with 53K+ Instagram followers
- Elvira Troger: Actress and producer from Sweden now based in Los Angeles
- Both founders experienced challenges with visible panty lines in professional settings
- Combined fashion industry experience with modeling and entertainment backgrounds
Shark’s and Founder’s QnA
What makes your product different from existing underwear?
We created truly invisible panties that go completely undetectable under clothing. They feel like you’re wearing nothing with magical disappearing straps that adapt to your body without riding up, rolling down, or digging in. They’re designed to adhere to you and stay exactly where you place them.
How many units have you sold?
In 11 months, we’ve achieved $180,000 in sales. This has been primarily through word of mouth and direct-to-consumer sales.
What is your cost to make and selling price?
Our cost to manufacture is $2 per unit, and we sell them for $14 each.
Have you raised any money previously?
Yes, we raised $400,000 at a $10 million valuation. Our investors include a Sports Illustrated model, an OG influencer, and two successful business women who have started their own companies.
What do you need the investment for?
We need to place bigger purchase orders because we keep selling out of all our units. We’re set to make $1.8 million next year based on our projections and current demand.
Do you have patent protection?
We have patent pending status. It took us about 60 trials and errors to develop this product. It’s very hard to make because it bonds two materials together rather than sandwiching them. We’ve also secured the trademark on the term “Stringys.”
What’s your background and experience?
I come from a family of entrepreneurs – it’s in my blood. Olivia started modeling at 12 and went full-time at 17. Elvira is originally from Sweden and moved here at 22. Both of us have extensive experience in the fashion and entertainment industries.
Why such a high valuation with limited sales?
Many investors wanted to give us money because of our brand potential and the team we’ve assembled. We have connections with famous people asking for stringies by name. The demand has been so high that we constantly sell out of our inventory.
Key Stats & Financials
Stringys presented impressive financial metrics during their Shark Tank pitch, demonstrating strong growth potential despite being a relatively new company. The founders highlighted their cost structure, sales performance, and future projections to justify their investment request.
- Sales: $180,000 in revenue over 11 months
- Margins: $2 manufacturing cost vs $14 selling price
- Valuation: Requested $6 million for 5% equity
- Investment Request: $300,000 for 5% equity
- Use of Funds: Larger purchase orders and inventory expansion
| Financial Metric | Amount |
|---|---|
| Previous Funding | $400,000 |
| Previous Valuation | $10,000,000 |
| Revenue (11 months) | $180,000 |
| Projected Revenue (Next Year) | $1,800,000 |
| Manufacturing Cost | $2 per unit |
| Selling Price | $14 per unit |
Business Potential and TAM
Stringys operates in the intimate apparel market, which represents a significant total addressable market (TAM) with global women’s underwear market valued at billions of dollars. The invisible underwear segment appeals to fashion-conscious women who frequently wear fitted clothing, attend social events, or need professional attire solutions. The brand’s unique positioning and celebrity endorsements suggest strong market penetration potential.
- Global women’s underwear market worth billions of dollars
- Growing demand for seamless, invisible undergarments
- Fashion-conscious demographic seeking innovative solutions
- Celebrity endorsements increasing brand visibility and credibility
Stringys: Ideal Target Audience & Demographics
| Demographic | Details |
|---|---|
| Gender | Female |
| Age Range | 18-45 years old |
| Income Level | Middle to high income ($50K+ annually) |
| Geographic Focus | Primarily US market, expanding internationally |
| Lifestyle | Fashion-conscious, socially active, professional |
| Shopping Behavior | Direct-to-consumer, online shoppers, brand loyal |
Marketing and Distribution Strategy
Stringys employs a direct-to-consumer marketing and distribution strategy with significant emphasis on social media presence and celebrity partnerships. The company leverages influencer marketing through their investor network and focuses on building brand awareness through strategic partnerships. Their distribution model primarily relies on online sales through their website, with plans for wholesale expansion.
- Direct-to-consumer online sales through company website
- Social media marketing with 23K+ Instagram followers
- Celebrity partnerships and endorsements from high-profile figures
- Wholesale distribution with three current wholesale partners
Stringys Deal Outcome
Barbara Corcoran made a deal with Stringys founders Olivia Karina and Elvira Troger after an initial offer from Kevin O’Leary. The final agreement involved Barbara investing $300,000 for 3% equity, plus a 22 cents royalty per unit sold in perpetuity. This deal structure provided the funding needed for inventory expansion while giving Barbara ongoing returns through the royalty component.
| Deal Component | Details |
|---|---|
| Shark Investor | Barbara Corcoran |
| Investment Amount | $300,000 |
| Equity Received | 3% |
| Royalty Terms | 22 cents per unit in perpetuity |
| Total Deal Valuation | $10,000,000 |
Stringys Post-Show Update
Since appearing on Shark Tank, Stringys has experienced significant growth and celebrity adoption. The brand has been embraced by numerous high-profile celebrities including Eva Longoria, Kendall Jenner, Hailey Bieber, Doja Cat, and Emily Ratajkowski. The company continues to sell through their website with various product bundles and has expanded their wholesale partnerships. Their social media presence has grown substantially, with over 23K Instagram followers showcasing their products in real-world applications.
Business Analysis & Lessons
Stringys demonstrates several key business lessons for entrepreneurs. First, solving a real problem that affects many people creates a strong foundation for success. The founders identified a common fashion dilemma and developed an innovative solution. Second, having the right partners and investors can accelerate growth significantly. Their ability to secure funding at a high valuation with limited sales history shows the power of strategic relationships. Third, brand building and celebrity partnerships can drive awareness and sales in consumer products.
The intellectual property protection strategy also deserves recognition, with both trademark and patent pending status providing competitive barriers. Additionally, their direct-to-consumer approach with strong margins ($12 per unit profit) creates an attractive business model that allows for various investment structures, as demonstrated by Barbara Corcoran’s royalty-based investment approach.
- Identify and solve genuine consumer pain points in existing markets
- Leverage personal networks and strategic partnerships for early validation
- Protect intellectual property through patents and trademarks early
- Build brand awareness through celebrity endorsements and social media
Pitch Conclusion
Stringys’ Shark Tank pitch successfully demonstrated both product innovation and business potential. The founders clearly articulated their value proposition, financial projections, and growth strategy. Their ability to secure a deal with Barbara Corcoran validates the market opportunity for invisible undergarments. With strong margins, celebrity endorsements, and a patent-pending design, Stringys is well-positioned for continued growth. Interested readers can explore their products at stringys.com and follow their journey as they expand their market presence.