HOME / ENTERTAINMENT / TV

This couple brought back 80s workout gear on 'Shark Tank' — now their brand is a million-dollar business

Bala Bangles were the old school technique of being fit with a new age stylish touch.

Entrepreneurs Natalie Holloway and Max Kislevitz pitched their wearable weights on ‘Shark Tank’ Season 11. They introduced a stylish update to outdated wrist and ankle weights, wearable on either or both. As per Shark Tank Recap, they were seeking $900,000 for 30% equity. Yoga instructor Holloway co-founded Bala Bangles with her husband, aiming to revive 80s-style weights but with a modern twist.

The weights featured a sleek, bracelet-like design that made them stand out, according to Shark Tank Blog. The product was amazingly popular within the yoga and Pilates crowd, but the couple wished to attract more customers overseas. Kislevitz explained they needed funding to solve inventory issues and expand their sales force. He added that they needed to hire a salesperson, as they were struggling to keep up with demand themselves.

Coming to the sales figures, Holloway shared that they earned $260,000 in sales during their first six months. That same year, they generated $1.2 million in revenue and secured purchase orders from Bloomingdale’s and Nordstrom. Maria Sharapova, who is known for her legendary Tennis skills, was present on the show as the guest Shark stepped in, intrigued by the product's potential. The entrepreneurs then expressed that they would love to have her as a spokesperson, to which the Russian sportsperson replied she would need a lot more equity to do it.

Soon came an offer from Kevin O’Leary. Mr. Wonderful was ready to give the entrepreneurs $400,000 as a 36-month loan at 7.5% interest in exchange for 5% equity. However, Sharapova then offered them $200,000 for 15%, while also explaining that she would like to use their product and that the product was in her wheelhouse. Daymond John and Lori Greiner each also offered the couple $200,000 for 15% equity in the company. The pitch had intrigued every person on the panel, as they were seen bidding for the equity in the business. However, the entrepreneurs stated they weren't ready to give away too much equity in their business, also explaining that they would go forward with two sharks at $450,000 apiece for 30% equity. 

Greiner made her final bid of $500,000 for 18% of the business with no partner. Then, to everyone’s surprise, Mark Cuban jumped in to team up with Sharapova. The two investors were ready to go ahead with what the entrepreneurs had asked for: $900,000 at 30% for two sharks. Finalizing the deal, the entrepreneurs were quick to accept their offer. As per the Shark Tank blog, these workout products are now available in stores like Anthropologie, Dillard's, and Saks Fifth Avenue, as well as Dick’s Sporting Goods. By 2023, the company was generating $29 million in annual revenue.