What Exactly Are Nice Pipes?
NicePipes is a brand that sells high leg and arm warmers in a variety of colors and patterns. Leg warmers in thigh-high and knee-high styles are available. Due to a multitude of benefits, the goods are ideal for women’s fitness regimens. NicePipes, for example, are moisture-wicking and UV-protective.
Lisa Binderow is a yoga enthusiast, a mother, and a wife. She started NicePipes in 2014 in response to student and instructor concerns regarding her apparel at her yoga studio. Binderow worked for a national chain yoga studio in New York for seven years, first as a fitness trainer and then as a program manager. The best inventions are typically the result of a need.
Binderow lived and worked in New York City, where the winters are bitterly cold. She regularly walked or raced to her yoga practice in the chilly mornings. On her skin, she noticed that traditional wool and acrylic leg warmers were inconvenient.
She also thought that her yoga outfit didn’t provide enough protection from the elements. Binderow wore her yoga clothes to do errands in New York City on a regular basis. As a result, she spent most of the day in her drenched workout gear. Layering was her solution, but she didn’t want to spend money on new workout gear.
Binderow’s idea was both simple and attractive. She made leg and arm warmers out of yoga bottoms that she molded and cut. She resigned from her job and started her own business after so many youngsters and educators expressed interest in her NicePipes.
Her things have done exceptionally well on Amazon thus far. Arm warmers will set you back $32, knee-high leg warmers will set you back $42, and thigh-high leg warmers will set you back $46, respectively. They come in a variety of colors and patterns, and they also give some compression.
Quick Facts About Product:
|Product / Business||Warmers for your legs and arms that look stylish|
|Investment Asking For||$100,000 for 10% equity in NicePipes|
|Final Deal||No Deal|
|Episode||Season 8 Episode 13|
|Business Status||In Business|
Who Is the Founder of Nice Pipes?
The firm was formed in 2014 by Lisa Binderow.
What Happened to Nice Pipes During Their Pitch on Shark Tank?
Lisa Binderow appeared on Shark Tank Season 8 Episode 13 with the hopes of receiving a $100,000 investment in exchange for a 10% stake in her company. This equates to a $1 million price tag.
She explains why and how she made them, and she gives out samples in answer to questions. She tells the Sharks that she sells them at $42 and makes them for $7.50 to $10 each. The Sharks were informed by Lisa that they were handcrafted in Los Angeles.
Robert enquired about her marketing strategy, and she said that she sells them both online and in stores. Lisa’s sales stats were enquired about by Robert. Lisa revealed that she had been living in her flat for 18 months. Robert and Mark questioned her worth when she revealed that she made roughly $80,000 in sales that winter.
Kevin doesn’t feel it’s confidential, and he believes anybody might simply defraud her. Lori wants to know how much money she has put into the company. Lisa informed her that she had made a $300,000 investment in the company. Lisa said that she was now in possession of $65,000 in items.
Kevin can’t get past the value and exits. Robert remarked that he was bewildered as to why she had rationally increased the value to $1 million, so he chose to leave. Mark urged her to get out there and market her wares, but he departed after claiming that the business was not a suitable fit for him.
Lori admires Lisa’s work and thinks it’s a great company, but it’s not for her, so she quits. Barbara is the only Shark left, offering $100,000 in return for 40% of the company. Barbara stated that there is a major stipulation in the agreement: her business, Grace, and Lace, would have to join her.
She indicated that she wanted $100,000 in exchange for a 25% stake in the company. Barbara informed her that she would be unable to do so. Lisa took a big breath and declared that, while she liked the idea, she couldn’t give up 40% of her company. Lisa politely declines Barbara’s offer and walks out of the room without saying anything.
Nice Pipes After the Shark Tank Pitch:
NicePipes is becoming increasingly popular, with continuous sales on Amazon and at yoga studios. NicePipes continues to make and sell arm warmers for $38, knee-high leg warmers for $42, and thigh-high leg warmers for $48, all of which can be found on their website.
Lisa is happy with her balanced life of running her business and teaching yoga classes. She says that it was not worth it for her to give away 40% of what she had worked so hard on at the end of the day. As of November 2021, the firm is still in operation, with annual revenues of $4 million.
Net Worth of Nice Pipes:
According to sites like Owler, the company’s net value is roughly $5 million.