Women often face challenges related to their delicate anatomy, especially when it comes to unexpected issues like leaks and periods. These situations can catch them off guard, leading to embarrassing moments in public or around others. To avoid such discomfort and maintain their confidence, it’s important for them to carry an extra pair of undergarments. Having this backup can help them feel more secure and prevent any potential humiliation from these unexpected incidents.
Ashlee Turner, the founder of The Pocket Panty, has designed a comfortable and practical panty for all women. Her main product is the pocket panty, which is easy to carry and comes in discreet packaging, making it convenient to keep in your bag or pocket. Not only is it comfortable to wear, but it’s also stylish and can be reused many times, making it both practical and eco-friendly.
Each panty is individually packaged, so it’s ready to use whenever needed. Additionally, Ashlee’s company is planning to launch a line of pocket panties for plus-size women very soon, ensuring that more women can benefit from her product.
The owner came on Shark Tank to request $80K in exchange for 10% of her company. She also presented the sharks with her product to highlight the comfiness of it. Let’s see if she got the deal or not.
The Pocket Panty Net Worth Shark Tank Update
Ashlee was looking for an investment of $80k in exchange for 10% equity in the company. At the time of the episode, she valued her company at $800k. Ashlee did not secure a deal with any of the sharks. After the show aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of The Pocket Panty in 2024 is around $2.5 million.
Ashlee shared that during her time in college, she was involved in a real estate company and even earned her real estate license. In her role as a closer, she helped people finalize their deals. However, after going through a difficult breakup, her life took a different turn. One day, she saw a girl stuffing extra panties into her bag, and that moment sparked an idea.
Ashlee realized there was a need for convenient, portable underwear for women. Inspired by this, she decided to create pocket-sized panties, and that’s how her business journey began.
Initial Pitch
The owner came to the show asking for $80K in exchange for 10% of her business. Her product is a small, pocket-sized pair of panties that can be used when women unexpectedly need a fresh pair. These panties are not only convenient to carry around but are also comfortable to wear. They come in stylish designs and are made from materials that can be reused, making them both practical and environmentally friendly. The idea is to give women an easy solution when they need a new pair of underwear on the go.
Queries about the Product
Lori asked the first question about her survey on the product before launching it. Ashlee highlighted that she did research and went to different schools along with giving free samples to get opinions on her product. She even got a positive response from everyone who tried her pocket panty on.
Herjavec was curious to know about her sales. The owner pointed out that she launched her company in 2021 and in September of that year her sales were $8K.
Cuban then asked about the cost of making one unit and its selling rate. Ashlee replied that it costs her $2.24 to make one pair and then sell it for $10. The retail and wholesale rates are $5.
Emma wanted to know about her location to make the product. She replied that they are made in China. Moreover, she sells them online, in boutiques, vending machines, and private schools for all girls.
Herjavec was interested to know why she chose Shark Tank to invest in her business. Ashlee related that it is a dream of hers and she also wants to get more opportunities for all black women out there.
The guest shark also wanted to know about her total sales. She replied that her total sales are now $60K.
Cuban asked about her involvement on social media. She replied hesitantly that she is not a social media person.
Shark’s Response and Final Decision
Lori was the first shark to back out of the deal, explaining that while she liked the product and would buy it, she didn’t think it was the right investment for her.
Next, Herjavec dropped out because he wasn’t impressed by her low sales numbers.
After that, Cuban also decided to pass on the deal, saying that her lack of activity on social media was a big concern for him.
Mr. Wonderful followed, choosing not to invest because he felt her product was priced too high.
Lastly, Emma backed out for the same reasons as Cuban, leaving Ashlee without any offers from the sharks. Unfortunately, she walked away without a deal.
Product’s Availability
Although Ashlee didn’t secure a deal, she is still in business and her sales saw a reasonable increase after her appearance on Shark Tank. Besides The Pocket Panty, her website also offers hair bonnets and packs of five emergency underwear. The products can be easily found on her website.
Conclusion
Although Ashlee did not get a deal on Shark Tank, her business, The Pocket Panty, has continued to grow. Her appearance on the show increased her sales, and she now offers additional products like hair bonnets and emergency underwear on her website. Despite the sharks passing on the investment, Ashlee’s unique products are still making an impact and are available online.
Hey there, it’s Andaleb Youns. I am a freelance content writer and am currently pursuing a BS in English Language and Literature. I have expertise in writing Blog Posts, social media content, and copywriting. I know how it feels to be a student and still be dependent on parents to fulfill even basic daily needs. This realization became apparent while watching Shark Tank. Although I started watching this show out of boredom, it proved to be an inspirational show. The show made me realize the importance of hard work, being independent, and of having a business of my own. I still look forward to it for entertaining and inspirational content.
