Mix Bikini Shark Tank Update – Shark Tank Season 3
Frank Scozzafava and Adam DiSilvestro’s Mix Bikini allows women to create countless swimwear styles with interchangeable, reversible pieces. Did the Sharks see the potential in the interchangeable bikini pieces, or did the pair leave the Tank without a deal?
Frank Scozzafava and Adam DiSilvestro came to Shark Tank Season 3 Episode 14 with their product, the Mix Bikini. The idea behind Mix Bikini was that women could mix and match their swimwear.
Check out more of Shark Tank Season 3 Episodes.
About Mix Bikini
| Category | Details |
|---|---|
| Business Name | Mix Bikini |
| Founders | Frank Scozzafava, Adam DiSilvestro |
| Industry | Swimwear |
| Product | Interchangeable, Reversible Swimwear Pieces |
| Deal Status | Deal Secured with Barbara Corcoran |
| Investment Asked | $50,000 for 5% Equity |
| Deal Outcome | $50,000 for 10% Equity |
Each suit of Mix Bikini came with eight separate pieces, all of which were interchangeable. The more suits a woman bought, the more styles and designs she could create.
Each piece was reversible, creating the possibility of hundreds of different styles from just a few pieces.
Mix Bikini Shark Tank Recap
Scozzafava and DiSilvestro came to the Shark Tank seeking $50,000 in return for a 5% equity stake in the business. Scozzafava demonstrated the website, showcasing how users could create designs with a virtual model by choosing from various styles and patterns.
Robert Herjavec wanted to know about sales. Scozzafava explained that they had only done a “soft launch,” so sales, to date, were minimal.
Barbara Corcoran asked about the cost of each suit. At $9.99 per piece, a complete Mix Bikini would cost between $40–$50 retail. She pressed further, asking about the business model.
Scozzafava explained that they had plans to expand beyond the online offering by creating kiosks. These would cost around $25,000 to build, plus the cost of renting space.
When pressed about the business model, Scozzafava floundered. Daymond John and Kevin O’Leary wanted to know if the pair intended to sell the Mix Bikini themselves or license it out.
Scozzafava wasn’t sure and said they had come to the Shark Tank for guidance.
Did Mix Bikini Get a Deal on Shark Tank?
Mark Cuban wasn’t about to let that slide. “When you come into the Shark Tank, you have to have a business. We can offer capital, we can offer guidance, but we can’t set the path for you. What you guys have is a product and an idea, and a hope.” He was out.
Kevin O’Leary told Scozzafava, “The guys who walk out of here with money are able to articulate, in 90 seconds, this is how I get rich. That’s all I care about.”
Scozzafava explained that they had standing investments “up to $500,000,” passionately defending his product and stating that they were going to build the brand and either license it to big manufacturers or sell it themselves.
Daymond John remained unconvinced. “It’s not that easy,” he told them. “Trust me. If it was, I’d be all over it. I’m out.” Robert also followed suit on similar grounds.
In the end, Barbara Corcoran made an offer of $50,000 in return for 10% of the company. Against all odds, Scozzafava’s passion won the pair a deal, even without a solid business model or sales.
What Made Mix Bikini Unique?
The interchangeability it offered to a homogenous mix-and-match concept set the product apart in its market.
Mix Bikini Shark Tank Update
Most entrepreneurs, upon successfully securing a Shark deal, were ready to celebrate, and Scozzafava and DiSilvestro were no exception.
When Mix Bikini returned on an episode of Beyond the Tank, it was revealed that the pair had rented out a nightclub for an evening after their initial Shark Tank appearance and threw one of the biggest, wildest parties New York City had seen. Barbara Corcoran was the guest of honor.
Later, after the champagne ran out and the bills started rolling in, she realized that the ambitious and impulsive pair had lost her investment.
The sales they had counted on from their Shark Tank appearance didn’t happen because their website crashed. The site couldn’t be revived for over a week, costing them an estimated $200,000 in lost sales.
Barbara was forced to cut her losses, but one of the creative partners, Kelsey Duffy, managed to rebrand the product as “Versakini” and rescue the floundering business.
In an interview, Barbara said she “loved” Frank but wouldn’t give him any more money. She harbored no ill will, even though this venture turned out to be a Shark Tank failure.
As of 2018, Versakini was still in business with an annual revenue of $5 million. However, as of January 2022, Versakini no longer had products for sale, and Kelsey’s LinkedIn profile indicated she had shuttered the business in 2018.
Posts about Mix Bikini on Shark Tank Blog
Learn more about the Mix Bikini and check out Barbara Corcoran’s interview for the same.
Where Can You Buy It?
The company has been out of business since 2018, but you can check their Facebook page and Twitter (X) handle from their glory days (which did not last for long).
Quick Summary
- Mix Bikini offered a mix-and-match swimwear system with reversible, interchangeable pieces that allow for countless style combinations.
- The entrepreneurs sought $50,000 for 5% equity and secured a deal with Barbara Corcoran for $50,000 for 10% equity.
- The initial success was hampered by website issues, leading to significant lost sales.
- The brand was later rebranded as Versakini and saw some recovery before eventually shutting down.
Curious to know about other products that appeared on the same episode? Check out their business updates.
- Cab 20 Shark Tank Update
- Billy Blanks Jr.’s Dance With Me Shark Tank Update
- Wild Squirrel Nut Butter Shark Tank Update
