Onewith On Shark Tank Season 16
Highlights
- Hayley Segar approaches the Shark investors with Onewith in the ninth episode of Shark Tank Season 16
- The budding entrepreneur seeks $200K for 5% equity in her swimsuit brand
- Hayley wins praise from the Sharks for her confident and well-prepared pitch
Overview
| Category | Details |
| Name | Onewith |
| Founder | Hayley Segar |
| Industry | Fashion |
| Product | Swimsuits |
| Funding | $130K (self-funded) |
| Investment Ask | $200K |
| Equity Offered | 5% |
| Valuation | $4 million |
An aspiring entrepreneur from New London, Connecticut, Hayley Segar appears on Shark Tank in the sixteenth season. Recalling one of her experiences before a Miami trip, Hayley discusses the many problems with traditional swimsuits – tight seams, compressing elastic, and poor fits
The entrepreneur then found out that the answer to a ‘better-fitting swimsuit’ was ‘right under her nose.’ Hayley then asks her models to show off Onewith’s swimsuit range. While the collection looks like undies, the clothing is a swimsuit. She claims her swimsuit products are better than the traditional ones
Hayley adds that Onewith is inspired by the no-show, seamless underwear that does not dig and lays flat on top of the body. Her venture thus offers a dig-free, elastic-free, and edgeless fit swimsuit range that makes women confident
Onewith Shark Tank: What Happened On Season 16
Hayley Segar presents the Onewith Shark Tank pitch by seeking $200K for 5% equity. Once the pitch ends, she offers samples to the Shark investors. Lori Greiner likes that it is not ‘too stretchy.’ As it is a ‘$4 million swim,’ Kevin O’Leary wants to know about Onewith’s sales figures
Hayley claims to have made $2.3 million in sales since the Onewith’s launch in 2021 year-end. $1.3 million of the amount has been made in 2024 itself. Onewith sells through D2C. The bikini tops and bottoms cost about $12 to make and are sold for $49 and $47, respectively
So, the margins are about 75%. The Sharks appreciate it. Onewith’s one-piece swimsuit costs $23 and sold for $89. Overall, customer acquisition costs are $15
Hayley has been working since 12 years of age as a beauty content creator on YouTube. This is how she has saved a ‘lot of money’ and put in $130K in Onewith. However, the debt is $300K. The return rate of Onewith swimsuits is 11%, which is below the industry average (15%-30%)
Hayley claims that her venture does not have any direct competitors
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Did Onewith Get A Deal On Shark Tank?
Kevin O’Leary is impressed with the presentation and cannot find reasons why he can rip her into pieces. However, he chooses not to invest. Mark Cuban, too, exits the deal as the product does not ‘warm him up.’ Guest Shark Jamie Kern Lima wants to know why Hayley needs a Shark
The entrepreneur is looking for a strategic partner who can help her get into retail. But Barbara Corcoran thinks that would be a wrong move. This is because one of her previous Shark Tank investments, Raising Wild, failed to make it big in retail despite being a winner online.
Barbara calls it a ‘bad memory.’ She then proposes a deal contingent on ‘no retail’ – $200K for 20% equity. The entrepreneur tries to counter with $200K for 12% equity. Agreeing with Barbara on the retail aspect, Jamie offers the same deal to Hayley. Barbara then asks the guest Shark to join her in the deal; she agrees
Ultimately, Hayley accepts the deal for $200K at 20% equity, 10% each for Barbara and Jamie, respectively.
More products from this episode! Check out other businesses that participated alongside Onewith.
