Morgan and Arley Sarner seek a partner for the Handbag Raincoat, their protection solution for fancy handbags, in Shark tank episode 1006. The two frequent New York City visitors, sisters, and handbag aficionados HATED when it rained on their fancy handbags. With leather handbags that cost thousands of dollars, they'd often wrap them in their raincoats, hide them under their umbrellas and get themselves soaked in the process.
Unfortunately, handbags still got damaged. Their solution was to have “rainy day” handbags – handbags that were already rain damaged – for inclement weather. Anyone who lives in the northeast knows weather is unpredictable, so even good planning wouldn't protect their precious handbags. The gals also noticed many other women had the same problem. The solution: The Handbag Raincoat.
The sisters made their first prototype with an old shower curtain while still in college. They wanted the Handbag Raincoat to fit any handbag; a universal solution. After graduating, Morgan went to work in production and merchandising at Rebecca Minkoff for five years. She learned a lot and applied that knowledge to their new business.
The Handbag Raincoat has a velcro, waterproof slot that lets the handle slide through. As for the raincoat itself, it simply drapes over the handbag like a specialty umbrella. At only $20 each, it's stylish and inexpensive, especially when you compare it to a $3000 Louis Vitton bag! The sisters got a lot of buzz at Paris Fashion Week in the fall of 2017 which resulted in appearances on the Today Show, Ellen, Oprah and many mentions in fashion publications. They struck a chord with a stylish solution to a regular old plastic bag. They hope a Shark wants to join them in their quest to protect handbags everywhere.
The Handbag Raincoat Company Information
Posts about The Handbag Raincoat on Shark Tank Blog
The Handbag Raincoat Shark Tank Recap
Morgan and Arley will pitch the panel of five Sharks on the business and its prospects for growth. They'll need to convince Mark Cuban, Kevin O’Leary, Lori Greiner, Barbara Corcoran and Guest Shark Sara Blakely that the company is worthy of a Shark investment. A good business plan, good financials, and sales data will impress the Sharks, but they’ll need to show them THEY are capable of running the company to “Shark standards." A full pitch re-cap on The Handbag Raincoat will be available on Shark Tank Blog once this episode airs.
The Handbag Raincoat Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Once an episode has aired, we monitor the progress of the businesses featured, whether they receive funding or not and report on their progress. The Shark Tank Blog will follow-up on The Handbag Raincoat & Morgan and Arley Sarner as more details become available.