Become an InsiderElly Gheno felt there was a negative stigma around underwear shopping, so she created subscription service BootayBag to solve that problem.
Here's how Gheno tapped her customers to help scale her business, eventually netting her own unicorn mentor.Elly Gheno felt there was a negative stigma around underwear shopping. Her conservative parents didn't allow her to buy styles like g-strings or thongs, so she often snuck them into the house.
In 2016, Gheno launched an underwear subscription service that aimed to solve her pain points by making the process more affordable and discrete. Gheno started with a $300 loan and in four years built a thriving business with more than $15 million in lifetime sales.
Today, San Francisco-based BootayBag charges $10 a month for one pair of underwear, $15 for two pairs, and $20 for four pairs. Customers choose the styles and size they'd like to receive, and have the option to skip a month. After word spread and BootayBag's customers expanded beyond Gheno's circle of friends, she started to create her own designs. She also leveraged Instagram as an advertising and promotional tool.
It's a widely used practice today and one that Gheno aims to keep inclusive — she doesn't retouch pictures of customers toWhat's more, that's directly translated to strong revenue growth. In 2019, BootayBag booked $4.3 million in revenue, according to documents viewed by Business Insider, and estimates to net $5.8 million by the close of this year, Gheno said.
In addition to funding, Gheno wanted a mentor who could help alleviate some manufacturing woes. Gheno didn't have a direct connection to a manufacturer and had to use a middleman, which complicates and delays the process, she said on "Shark Tank." Oftentimes, she has to wait nine months to receive new products which is far greater than most businesses.
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Give them a mention for that - Shout out to BootayBag 🚀
대한민국 최근 뉴스, 대한민국 헤드 라인
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