NicePipes Net Worth 2022
If you are a fan of the Shark Tank reality show, you probably know about the NicePipes Apparel business. The owner of the business, Lisa Binderow, appeared on the television show to pitch her business. The company produces leg warmers and arm warmers. Although the company is not a household name, it has become popular all over the world. It is a yoga-inspired apparel company. There are currently fourteen stores selling the brand. It also sells on Amazon.
When the NicePipes company was first created, it was only a couple of years old. It began with the manufacturing of arm and knee high leg warmers. The product was fashioned out of supplex, a stretchy and water-repellent material. The goal of the company is to produce affordable and comfortable activewear for fitness enthusiasts. In addition, it sells products online and at Yoga studios. The founder of the company, Lisa Binderow, hopes to expand the company to a big box retail store.
The NicePipes business had a net worth of about $80,000 during its appearance on the Shark Tank. However, it is not clear whether the owner still has a stake in the company. The NicePipes website is still active. The company also has a Facebook page, Twitter account, and email contacts. As of 2017, the company had a gross sales of USD 4.4 million.
The creator of the company, Lisa Binderow, is a businesswoman who has pursued her career as a yoga instructor. In the past, she worked at Platinum Dunes for two years as a producer’s assistant. She then became the New York Teacher Manager for a national yoga studio chain. She has been married for many years. She also has a child. In addition, she has received several degrees from various universities.
The owners of the company have a share of the firm’s 10% equity. This is an advantage that allows the entrepreneurs to get a larger share of the profit. However, it is important to keep in mind that the NicePipes’ annual revenue is $4 million.
NicePipes produces and sells leg warmers, arm warmers, and other yoga-inspired apparel. The products are available in various colors and patterns. The thigh-high leg warmers cost $48 while the arm warmers are $38. The company also sells knee-high leg warmers for $42. The product is made out of light fabric and has a custom-fitted design. It promotes performance and is durable.
During the show, the owner of the business shared her story with the investors. She had developed the concept of the business after she started wearing arm and leg warmers while working out. She wanted a warmer garment that was lightweight and would not slip while working out. She chose the fabric used for her yoga pants as the fabric for her arm and knee warmers. The leg warmers were sold out of her apartment. She decided to make the product available on Amazon.
In 2016, Lisa Binderow appeared on the Shark Tank. She was seeking $100,000 in return for 25% of the ownership of the company. The host, Barbara Corcoran, did not accept her offer. She was impressed with the approach of the company’s creator and offered her $100,000 for 40% of the business.