Quick Shark Tank Update on Basic Band
- Founders: Nicole Costa and Danielle Smyrneos.
- Product: A revolutionary “tuck band” for effortless styling without permanent alterations.
- Sales Growth: Achieved a 529% growth rate through strategic influencer marketing.
- Pricing and Distribution: Available in sizes XXS-5XL, priced at $39.95, with an expanding product line including sleeve garters.
Nicole Costa and Danielle Smyrneos, two visionary friends from Australia, created The Basic Band during the 2020 pandemic. Their goal was to address a common wardrobe dilemma.
This innovative accessory is the world’s first tuck band. It is designed to enhance garment styling without permanent alterations. Made with high-quality, skin-friendly materials, The Basic Band blends utility with simplicity.
Nicole Costa shared their mission:
“We believe getting dressed should be fun, and our tools are here to transform your styling game!”
Their Shark Tank success highlights the product’s potential. With Jane Lu’s investment, The Basic Band promises exponential growth.
Discover why this small accessory is redefining everyday fashion, grab yours today and elevate your style game!
Basic Band Journey Before Shark Tank
The story of The Basic Band began when Nicole and Danielle, living together during COVID-19, struggled to share clothing due to differing fits.
Nicole explained, “Dani and I wanted to share our clothes, but often they needed minimal, non-permanent alterations to suit us both.”
After many failed attempts, they found inspiration in Nicole’s grandmother. She crafted the first prototype.
“The Basic Band became a daily staple in our outfit rotations,” Nicole added, “and we quickly realized we wanted to share it with the rest of the world.”
The band is crafted from soft, elastic material. It eliminates the need for bulky clasps or buckles, making it discreet and versatile under clothing.
Available in sizes ranging from XXS to 5XL and priced at $39.95, it caters to a broad audience. The founders leveraged TikTok’s viral potential to showcase the product.
They created engaging videos to demonstrate its functionality. “TikTok’s algorithm allowed for discoverability even with low follower counts,” Nicole shared.
@thebasicband Honestly, what are you doing with that hair tie? 🤷🏼♀️
♬ Love Lost – Mac Miller & The Temper Trap
This approach catapulted The Basic Band to six-figure sales within its first year. The company achieved a 529% growth rate.
Shark Tank Pitch Recap
Nicole Costa entered Shark Tank Australia seeking $85,000 for 5% equity. Her pitch emphasized the product’s unique appeal and rapid growth.
Nicole explained, “The $85,000 will help us invest in more paid Google marketing.” Shark Nick Bell recognized her marketing prowess.
He offered $85,000 for a 20% stake, dropping to 15% after two years. However, Jane Lu saw its potential for her fashion empire, Showpo. She matched Nick’s offer and introduced better terms.
A lively negotiation followed. Jane offered, “How about 15% dropped down to 10%? Or 17.5% dropped down to 12.5%?” Nicole accepted the latter offer.
This secured $85,000 for 12.5% equity. In a celebratory moment, Jane jumped from her seat, hugging Nicole as the deal closed. Nick Bell, humorously lamenting his loss, exclaimed, “What am I, chopped liver?”
Basic Band Shark Tank Update
The partnership with Jane Lu brought invaluable expertise in e-commerce and fashion. Nicole expressed her excitement, stating, “We are beyond thrilled to partner with Jane. Her expertise in fashion and e-commerce will be invaluable as we scale the business.”
Post-show visibility and strategic marketing further boosted sales. The brand expanded beyond TikTok to target a broader demographic across multiple social platforms.
In addition to their iconic tuck bands, The Basic Band launched luxurious sleeve garters. These are modern styling tools that help gather or shorten sleeves.
“Our goal is to introduce and develop innovative solutions that enhance our customers’ wardrobes,” Nicole explained.
Future Plans
Looking ahead, Nicole and Danielle envision making The Basic Band a household name. Nicole shared, “Our ultimate goal is to establish The Basic Band as a wardrobe staple for every woman.”
Their plans include launching new products, entering international markets, and forming wholesale partnerships. “We’re expanding into global markets and growing our wholesale side of the business,” Nicole added.
Their commitment to sustainability and inclusivity remains central. Nicole emphasized, “We want to help women extend the life of their garments. At the same time, we want them to get creative and confident with their styling.”
Closing Remarks
The Basic Band is more than an accessory, it’s a movement towards sustainable, creative styling. Nicole and Danielle’s journey is a testament to their resilience, innovation, and entrepreneurial spirit.
Nicole summed it up perfectly:
“If you have an idea or want to start a business, don’t overthink it. Just start!”
With Shark Tank’s momentum and their unwavering passion, The Basic Band is set to redefine the fashion industry. Ready to upgrade your wardrobe? “We hope you love our products as much as we do!” Join the revolution today!
We’re closely following the company to bring you valuable insights. Stay tuned for the latest updates on Basic Band!
