The Shemie was one of those increasingly rare businesses to appear on Shark Tank: there was no business when entrepreneur and fashion designer Shelton Wilder pitched the Sharks in episode 407, just an idea. When Shelton appeared, she literally launched her business on the Shark Tank. The Shemie is a modern version of the woman's slip. She was seeking seed capital to get her business started. Shelton is no stranger to women's fashion, she was a buyer for many years and a personal stylist at Nordstrom. She has the contacts and the product; all she needs is some Shark funding.
The Shemie Shark Tank Recap
Shelton entered the Shark Tank seeking a $60k investment for 20% of the Shemie. There are models in the Tank with Shelton, showing the different versions of the modern-day slip.The Sharks have lots of questions; they are especially interested in why Shelton didn't follow through with a previous version of the product. In one of the most heartfelt segments on Shark Tank to date, Shelton reveals she has been sober for two years and eight months and the previous incarnation of the Shemie was from when she was drinking. The old product has too many bad memories and she wanted a fresh start.
The Sharks are respectful of her story (except for Mr. Wonderful), but they aren't too sure about the Shemie. Kevin doesn't like the valuation, he's out. Lori thinks Shelton can make it on her own, she's out too. Robert thinks it's too early and Mark doesn't know anything about fashion; they're out. Daymond likes Shelton, but he's not in the woman's slip niche, so he's out too.
The Shemie Shark Tank Update
Part of Shelton's strategy was using the Shark Tank as a vehicle to start her business. She had a Kickstarter program set to go after she appeared and raised over $30K to get the business started. Since then, The Shemie has started production and Shelton is making the circuit to all the fashion shows. The Shemie has been featured in top fashion magazines like Vogue, W, Glamour, Cosmo, People Style Watch, Teen Vogue, Self, Star and more. Shelton hoped to have her product on store shelves in the Spring of 2013.
Unfortunately, the Shemie ceased production. Shelton landed on her feet however and now is a successful Realtor in the Los Angeles area.
When I watched this episode, I was touched in watching her story because it showed great strength to discuss such a sensitive part of her life. It shows and builds character. I, personally, would wear them. I think the brand is a wonderful brand and my husband, Michael, and I were also looking at other ideas to not only pitch to women but also to young girls. They could be sold at Justice, Old Navy, heck even retailers such as Target, Meijer’s, etc. and if need be have their own name such as Mini Shemie’s. Just thought there is a great potential for the product and its expansion.