Christina Conrad hopes the Sharks rave about the Booby Pack, a fanny pack for your rack inspired by the EDM (Electronic Dance Music) scene, in Shark Tank episode 622. The Booby Pack is essentially a sports bra with a zippered, waterproof pocket for cash, credit cards and a cell phone.
Conrad, who likes attending raves, wanted a safe and secure place to stash her valuables while dancing the night away. The water proof pocket prevents damage to your cell phone and “sweaty cash syndrome.” She was a Kickstarter success, raising over $32K to get her business going. The campaign allowed her to get a full functioning website up and manufacture 2,000 bras. She makes her product in New York City.
She targets the EDM or rave crowd because it's a big market. Ravers spend hundreds of millions of dollars each year attending shows and buying things. She knew women who attend these shows would want something like the Booby Pack. At $50-$65 per piece, they're not terribly expensive, but they only sell online now. I bet Christina wants to get Booby Pack into retail.
My Take on the Booby Pack
I am a big fan of boobies, but I'd never own a Booby Pack for myself. My wife thought the idea was “interesting,” a female friend thought it was “silly.” I don't wear a bra myself, but I have noticed women use their bras to carry all kinds of things – why not put in a zippered pocket to keep things secure? It seems like a pretty straightforward, functional product.
The one problem I see for Booby Pack is there are other similar products out there. Conrad has a patent pending for Booby Pack, but that doesn't mean similar products won't cannibalize her business. The Joey Bra looks very similar to the Booby Pack, and they've been in business a year longer. That said, there are hundreds of “regular” bra makers out there, I am sure there's room for more than one bra company selling bras with pockets.
Do Shark Rack Up an Investment?
This pitch is going to be very popular. LOTS of people like boobies, so Ms. Conrad is going to get a lot of attention from viewers and Sharks alike. Too bad for Conrad Daymond isn't on the panel, he may be the best Shark to help Booby Pack get to the next level.
I'm wondering if the discussion will get to licensing the pocket to other bra manufacturers. If they go there, it would mean some kind of Mr. Wonderful scheme. The only Shark I see being interested in the business as it exists today is Lori. This has QVC written all over it.
Even though Conrad's current target market is young ravers, I think the Booby Pack would sell well to middle America. Women on the go want convenience, and the Booby Pack delivers. If Lori thinks it's a “hero,” she'll lay in waiting and put in the last offer.
I'm not sure if Booby Pack does a deal or not, but they'll make an impression with the fanny pack for your rack!