Tata Towel appeared on season 10 of Shark Tank. It’s a creative product specially designed to deal with boob sweat, a problem that most well-endowed ladies suffer from.
Ever since appearing on the show, the company has grown in popularity, resulting in massive sales. This creative solution is designed by Erin Robertson, a female entrepreneur from Los Angeles.
Given the popularity of the product, many viewers are curious to know the current valuation of the company. If you are one of them, you are in the right place.
Who is the founder?
The brand Tata Towel is founded by Erin Robertson, a native of Los Angeles, California. Before setting up her own business, she spent 13 years working as a personal assistant. However, she never liked her job. Luckily for her everything changed one fine summer.
Being a well-endowed woman herself, Erin had a sweating problem. During the summer when getting ready for a date, her chest area was sweating a lot. LA’s scorching heat and a broken AC made it even more difficult to manage her boob sweat.
The excessive sweating under the boob area impacted her overall appearance. This inspired her to come up with a solution that would help ladies like her deal with boob sweat.
Founding Tata Towel
Erin looked online for possible solutions but could find none. With her mother’s help and watching YouTube videos, she created a wearable breast towel. It not only helped keep the boobs dry, but it also held them firmly.
To learn what others feel about her product, she shared the prototype with her friends. Needless to say, they all loved it in the first instance.
In 2015, Erin’s Tata Towels went viral on social media. Two years later, the company generated sales of $1.1 million. They could have done even better, but they constantly ran out of stock.
Tata Towel on Shark Tank
With the hope of expanding her business, Erin appeared on Shark Tank season 10. By this time, she had made sales of over $1 million. She proposed $200,000 in exchange for 10% of the equity in her company.
The product instantly caught the attention of the Sharks. Everything was going well until the Sharks learned about the declining sales and that Erin didn’t have a proper marketing strategy in place.
Mark Cuban was the first one to step out, followed by three other Sharks. But Lori Greiner offered a counter deal of 50% equity for $200,000. After negotiation, the founder agreed on 40% equity for $200,000.
Tata Towel After Shark Tank
As per sources, the deal between Erin and Lori Greiner never closed. Despite that Tata Towel gained thousands of customers and Erin could easily sell out the rest of her inventory.
The revenue of the company has grown every year since its appearance on the reality show. For those curious to know, the estimated net worth of Tata Towel is $2 million. The current sales are reported to be $800,000.