Quick Shark Tank Update on Moonies Swimwear
- Shark Tank Appearance: Season 16, Episode 4. Founders Karisa and McKay Winkel pitched Moonies Swimwear, seeking “$150,000 for 35% equity” in their business.
- Deal Outcome: Kevin O’Leary offered “$150,000 for 100% ownership of the patent”, but the founders declined, opting to retain control.
- Current Sales & Growth: Following the airing, Moonies saw a “big increase in website traffic, sales, and social media exposure.” However, they’ve continued to face brand awareness challenges. Their current estimated net worth is “$522,000 in 2024.”
- Product Line: Men’s swimwear in two styles, open and closed back cutouts, available in multiple colors and priced at “$40 to $45.”
- Sustainability & Community: Moonies emphasizes eco-friendliness, with products made from “86% recycled polyester.” They also donate 5% of profits to “environmental and LGBTQIA+ causes.”
Moonies Swimwear, founded by Karisa and McKay Winkel, seeks to revolutionize men’s swimwear. Their playful designs allow men to flaunt their style boldly.
Inspired by a Speedo competition at Lake Powell, the couple transformed a humorous DIY swimsuit into a unique, sustainable fashion brand.
With backgrounds in real estate analysis and graphic design, the Winkels envisioned Moonies as a way for men to express themselves. Moonies Swimwear offers an innovative twist on traditional men’s swimwear, combining fun with environmental responsibility.
“Express your personality and live life to its fullest,” the brand encourages, adding, “Whether you’re lounging poolside or diving into the next adventure, your Moonies swimsuit broadcasts your fun-loving personality loud and clear.”
Head to their website to explore styles that are as bold as they are eco-friendly!
Moonies Swimwear Journey Before Shark Tank
The spark for Moonies Swimwear ignited nearly two decades ago when Karisa and McKay created a playful DIY swim brief with a rear cutout. They designed it for a Lake Powell “Stud of the Lake” contest.
Hoping to gain an edge in the competition, “McKay wore the DIY suit,” and to everyone’s amusement, “he won.”
Their swimwear idea took root when others at the event began asking for similar designs, either for themselves or as gag gifts.
The Winkels pursued their idea years later, officially launching Moonies as a brand for men’s swimwear with a unique twist.
In 2021, they attempted to raise funds via a Kickstarter campaign with a goal of “$53,300,” but it ended early after raising just “$706 from seven donors.”
The experience motivated them to continue pursuing Moonies independently. Moonies Swimwear is focused on quality and environmental responsibility. They use “86% recycled polyester,” with fully recyclable and biodegradable plastic in the back cutout.
Shipping bags are made from “100% recycled post-consumer plastic,” which reduces the company’s carbon footprint.
Today, Moonies offers two styles, open and closed-window, priced at “$40 to $45” and marketed as a fun, expressive alternative for men who love the beach or pool.
Shark Tank Pitch Recap
When they entered Shark Tank, the Winkels asked for “$150,000 for 35% equity.” They aimed to fund production and promote Moonies. Their pitch drew laughter and curiosity as McKay explained their patented design, a “cheeky cutout” at the back.
He also shared the inspiration from his Lake Powell Speedo competition. Despite the buzz generated, sales before their appearance were only “$1,000.” This was primarily due to delays in receiving patent approval.
This low sales figure gave some Sharks pause, raising concerns about Moonies’ market potential. Mark Cuban was the first to exit. He remarked that “the market was there, but it was small.”
Daniel Lubetzky, though intrigued, questioned the founders’ level of hustle. He suggested that “every opportunity should be used to promote Moonies.”
Robert Herjavec liked the Winkels’ enthusiasm but saw scaling as difficult. Lori Greiner wanted stronger evidence of demand, wondering if “beachgoers requested to purchase the swimwear” or were just curious about it.
Kevin O’Leary was the only Shark to make an offer. He proposed “$150,000 for 100% ownership of the patent” with the idea of pairing Moonies with Rounderbum, a men’s fashion brand he had previously invested in.
The Winkels countered with a royalty request, suggesting “$5 on every unit sold,” but Kevin held firm, wanting full control. They raised their counter to “$500,000 for 100% of the patent.”
However, Kevin still wouldn’t budge, and the Winkels walked away, choosing to retain ownership rather than relinquish their entire business.
Moonies Swimwear Shark Tank Update
Following the episode, Moonies saw “a big increase in website traffic, sales, and social media exposure.” The episode’s publicity brought a lift to the brand.
Despite the initial surge, the company still faces challenges in achieving significant brand recognition and has not yet established any major retail partnerships. Moonies remains a primarily online business.
They leverage social media to promote the brand’s distinctive style and use the hashtag #cleavageforguys to highlight its bold, humorous approach.
The Winkels actively engage their audience through Instagram by posting behind-the-scenes Shark Tank content, customer showcases, and promotions. These efforts aim to maintain interest and grow their following.
Future Plans
The Winkels aim to expand Moonies’ reach by bolstering their online presence and refining their social media strategy. They also plan to explore retail partnerships.
Their future goals include using “100% recycled materials” for their products and increasing their impact on environmental and social causes.
Additionally, the founders are looking to expand the product line with more colors and patterns. They are also working on new styles that maintain Moonies’ playful aesthetic.
While challenges remain, their dedication to growth and sustainability is evident. They hope to establish Moonies as a unique player in men’s swimwear.
Closing Remarks
Moonies Swimwear is redefining men’s beachwear with its bold designs and commitment to eco-conscious production. Although Karisa and McKay Winkel left Shark Tank without a deal, the experience provided them with invaluable exposure and a boost in sales.
This exposure has helped them reach a niche audience. As the Winkels continue to grow their brand, “Express your personality and live life to its fullest” remains Moonies’ message to customers. With fresh designs and sustainable practices, Moonies promises to keep making waves in men’s fashion.
We’re closely following the company to bring you valuable insights. Stay tuned for the latest updates on Moonies Swimwear!
Feature Image Credit: @abc/@christopherwillard
