In 2015, sisters Morgan and Arley Sarner created The Handbag Raincoat to protect handbags from rain with stylish and functional covers. They appeared on Shark Tank in 2018, asking for $300,000 for 25% equity but left without a deal.
Despite early success with features on The View and partnerships with Nordstrom and Bed Bath & Beyond, the business faced challenges, including competition from copycat products. Unfortunately, these issues led to the company shutting down in 2019.
As of 2025, The Handbag Raincoat is no longer in operation, with its website and social media accounts inactive.
The Handbag Raincoat Net Worth
| Net worth | $1.2 million business valuation (2019) |
| Lifetime sales | $600,000 (2018) |
| Investor | None |
| Founder | Morgan Sarner and Arley Sarner |
The Handbag Raincoat Pitch on Shark Tank
| Company name | The Handbag Raincoat |
| Product | A covering that protects handbags from rain, dust, and dirt |
| Episode | Season 10 Episode 02 |
| Founders | Morgan Sarner and Arley Sarner |
| Asked for | $100,000 for 25% Equity |
| Final deal | No deal |
| Shark | None |
| Location | Englewood Cliffs, New Jersey |
Don’t miss these product from Season 10
The Handbag Raincoat Founders
The Handbag Raincoat was founded by Morgan Sarner and Arley Sarner in 2015. Morgan and Arley are siblings who had entrepreneurial skills from a young age. Morgan after graduating worked in the production and merchandising sector.
Along with that molded the idea of building their own business with her sister Arley. The Handbag Raincoat’s founders Morgan Sarner and Arley Sarner’s net worth is unknown as of 2025.
Key accomplishments:
| Year | Accomplishment |
| 2015 | Obtaining a legal patent for the product |
| 2019 | Shark Tank pitch |
Conclusion
Some companies that appear on the show have not achieved great success, and the The Handbag Raincoat was one of them. Sometimes businesses don’t succeed because of many reasons.
Sometimes, the deal falls through after the founders say yes on camera. Or, as you’ll see, sometimes things happen to the founders themselves, and they choose to abandon the business.
Anything is possible. However, The Handbag Raincoat went out of business in 2019. And the product is no longer available in the market.