'Shark Tank': Lori Greiner addresses dancers' struggles, strikes $300K deal with Apolla
Created specifically to help dancers, Apolla offers high-quality compression socks that help with arch and ankle support while also reducing inflammation and fatigue. These socks provide the wearer with the stability they need while not hindering their free-range of movement. The socks can be worn by anyone looking for a bit of extra support as the "high quality 20-30mmHg targeted compression supports joints and reduces swelling".
round21 bags $250K deal with first NFT based pitch on 'Shark Tank', fans don't find value in it
Pawnix on 'Shark Tank': Fans slam $199 noise-canceling headset for dogs, call it 'super dumb'
Kaycee Jones and Brianna Zborowski walked on to the show hoping to get one of the Sharks to invest in their brand, Apolla. They were all thoroughly impressed with the product right off the bat, with Herjavec jumping around in them and with Greiner talking about how she had been 'walking wounded' due to her years as a dancer and could see how the socks worked in helping people.
With 2 utility patents and a design patent, the brand had sold 120,000 units and had an extremely low return rate of 2%. With the cost to make between $6 to $10 while it retailed for $32 onwards, all Apolla's numbers were impressive. But it worried the sharks that it had been scaled or gone viral like it should have, causing them all to back out when it came down to it. Finally, the last one standing was Greiner, who stated that she has 'lived the foot problems' and even though she is not a fan of socks, she believed in the product. She made an offer for 25% for 300k, to which they countered with 20% instead. Nevertheless, Greiner took the deal, and it looks like Apolla now has a shark with the right marketing expertise that they need!
'Shark Tank' Season 13 Episode 18 airs on ABC on April 1, 2022, at 8 pm ET. Catch the latest episode featuring products like Apolla, No Limbits, Umaro and FORT.
Missed an episode? Been wanting to catch up? Episodes can also be viewed the next day on demand and on Hulu. Not just that, you can also watch old seasons and episodes on Amazon Prime Video and iTunes.