Biaggi, a luggage that keeps your belongings nicely packed outdoors and indoors. The bags are designed to make storage easier than ever before. These bags fold flat, you can store them in the cupboard, closet, or just slide them under your bed.
Founder Stephen Hersh is no stranger to the luggage business: he’s the son of Ron Hersh, former president of Rosetti Handbags and Accessories, which was sold to Li & Fung for $162 million in 2006.
Stephen Hersh hopes to bag an investment for Biaggi, his line of luggage that folds for easy storage, in episode 613. Hersh could be looking for a Shark to help accelerate the growth of Zipsak with more retail distribution. Will Mr. Herch bag a deal with a Shark?
About Biaggi
| Category | Details |
| Founder (Plural if multiple) | Stephen Hersh |
| Product Type | Luggage |
| Funding (Pre-Shark Tank) | Self Funded |
| Investment Asked | $500,000 |
| Equity Offered | 30% |
What Happened on the Shark Tank Episode?
Stephen opens with an at home segment. When he enters the Tank, he asks for $500,000 for 30% of his company. He demonstrates the bags and the Zipsak. Bags have amazing features, they fold flat, they have wheels, and the Zipsake is a transformable duffle bag.
Stephen shares he has done $2.5 million in 2 years, but he hit “pause” on sales because he wanted to work on educating the consumer.
When he reveals he invested $3.5 million in the business, the Sharks are taken aback. Stephen explains about his father’s business. He makes the Biaggi bag for $62, wholesales it for $124, and retails for $169. He explains he had to educate the consumer and the retailers to sell it properly.
What Makes Biaggi Unique?
Biaggi launched as a brand at the Travel Goods Show in Las Vegas in March, 2012. The company team reads like a who’s who in the luggage and high-end retail world.
- Biaggi has an entire line of folding luggage with hinge lock technology.
- Their flagship product is a folding, four-wheeled carry-on bag.
- It stores easily under a hotel room bed and takes up less space in your closet at home.
- It’s been voted “best business traveler luggage” by a host of media publications including USA Today and The Huffington Post.
- The Zipsak is a lightweight, four-wheeled duffle bag.
- It compacts into a pouch about the size of a briefcase for storage.
- The Zipsak line is about half the price of regular Biaggi luggage.
- It has appeared on QVC in the past.
Did Biaggi Get a Deal on Shark Tank?
After an in-depth analysis of the product and business, the Sharks share their views. Whether you get a deal or not, any advice from the Sharks is worth listening to.
- Mark likes his honesty about the ups and downs, but he’s out.
- Robert has a problem with the consumer education issue and he’s out. Kevin thinks consumer education is an issue too, he’s out.
- Daymond offers $500K for 33% and gives him twenty seconds to decide. As Daymond counts down, Lori starts talking and they go to a commercial.
- Lori offers $500K for 33% and says she wants to rename the product.
Daymond and Lori argue a bit and Stephen asks to step out. While he’s in the hall, he explains the offer to his dad. Lori and Daymond talk about their luggage businesses while Stephen is in the hall. Stephen steps back in and Daymond asks what his next plan of action is. When he says he wants to go with TV sales, Daymond steps out. Stephen then accepts Lori’s offer.
RESULT: DEAL with Lori for $500K for 33%.
What Happened to Biaggi After Shark Tank?
Unbeknownst at the time the segment taped, the company was $3 million in the red and close to shutting down. Lori helped push sales to $2.5 million on QVC following her investment. The full details on Biaggi’s success can be found on the Beyond the Tank episode 202 page.
Since the Beyond the Tank episode, Biaggi has continued to grow. In 2015, he introduced hard side luggage called LuggageZone. He kept the operation lean with two employees and a third party fulfillment center. As of May, 2024, the company is still in business with $5 million in annual revenue.
Where Can You Buy It?
If you’re keen to use this incredible luggage, check out their official website for special offers or promotions. Biaggi is also available on Amazon. Also check out their Facebook and Twitter for regular updates.
Quick Summary
- Biaggi is a company that offers foldable bags that save a lot of space.
- Founder Stephen Hersh has a strong entrepreneurial background and is the son of Ron Hersh, former president of Rosetti Handbags and Accessories.
- He successfully closes a deal with Lori for $500K for a 33% stake.
To read detailed conversations with Stephen Hersh, check out the Stephen Hersh Interview and Folding Luggage.
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