It’s no secret that workout trends come and go quickly, but over the years there have been certain tried and true products that have stood the test of time.

Key Takeaways: Bala Bangles on Shark Tank

  • Product: Stylish wrist and ankle weights for enhanced workouts.
  • Investment Ask: $400,000 for 10% equity.
  • Shark Response: Mark Cuban and Maria Sharapova offered $900,000 for 30% equity, which the founders accepted.
  • Post-Show Success: Bala Bangles has grown in popularity, expanding into more retail stores and increasing its product offerings.
  • Latest Update: Bala Bangles has continued to grow, gaining significant traction in the fitness community and expanding its product range to include more fitness accessories. The brand is now featured in major retailers and continues to dominate the wearable weights market.

What is the Story behind Bala Bangles

Husband and wife Natalie Holloway and Max Kislevitz have reimagined wrist and ankle weights to give a fashionable spin to this exercise staple. Weights are an important part of any workout routine. They aid in a better work out that builds muscle, burns fat, and increases the heart rate. With Bala Bangles, consumers can sweat in style.

These redesigned, fashionable weights have taken the fitness market by storm. After launching just 18 months ago, Bala Bangles has already reached approximately $2.5 million in lifetime sales and scored sales agreements with major chains such as Bloomingdales and Nordstrom. Not only is the market falling in love with the product, but so are the Sharks. They like the design and aesthetics of the Bala Bangle weights, but they also like the sales figures and product margins that come along with them. In order to understand if this company is a good investment, the Sharks would like to understand what Natalie and Max are looking for in a business partner.

Ideally, they are hoping to find an investment partner that is willing to put $400,000 into the business in exchange for 10% equity in Bala Bangles. They are currently tied up in a vicious inventory cycle. Because their demand is so great, they are focused on obtaining inventory and are unable to focus on reaching additional markets through marketing and proactive sales practices.

They currently sell Bala Bangles through retail (60%), Amazon (30%) and direct to consumer (10%). Max and Natalie need help growing and scaling their business and are hoping to partner with a Shark who is up for that challenge.

How Did the Sharks React to the Company’s Pitch?

Kevin O’Leary was the first Shark to extend an offer to Bala Bangles.

Kevin offered $400,000 as a loan with 7.5% interest in exchange for a 5% equity share. Lori Greiner offered $500,000 for 18% of the company. Maria Sharapova was also interested in investing but wanted to split the risk and go into a partnership with another Shark. She was willing to invest $200,000 but would need a bigger equity share of the company. Because she would be a spokesperson for the product, she needs additional payment for this service and she felt that could be accomplished through a larger portion of equity.

Although Lori was trying to connect and form a partnership with Maria, Mark Cuban offered to partner with her and even increase the amount of giving for them to share 30% equity. Mark and Maria agreed and extended an offer of $900,000 for 30% equity.

Natalie and Max accept their partnership offer.

What do you think about this partnership between Maria Sharapova, Mark Cuban and Bala Bangles? Would you buy this product? If you were a Shark would you have invested in this company and product? Start the conversation in the comments below!

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