Founder and CEO Leila Shams came on “Shark Tank” during Season 13 in 2021 confident that her innovative brand would intrigue the panel of investors, seeking $500,000 for 10% equity in TA3 Swimwear. Her pitch featured three models wearing what Shams called “the world’s most flattering swimsuit,” demonstrating how the mere pull of the corset lacing made the double-layered lining cinch in at the waist. The fashion designer proposed that the $500,000 would be utilized to help her expand her inventory, as the company was continuously selling out of its swimsuits. In the 13 months since launching, Shams reported to the Sharks that the company had already earned $1.4 million, with $800,000 in profit, mostly due to its popularity amongst TikTok creators.
As expected, investors Mark Cuban and Kevin O’Leary backed out of the pitch due to not being a good fit with their expertise. Entrepreneur Barbara Corcoran was wary about the 20% return on the swimsuits due to her past experiences with investing in swimwear, so she also declined. Fashion mogul Daymond Johnson was fearful of a business that spent so much money on its inventory, leaving only QVC queen Lori Greiner. But once Greiner heard that Shams was unwilling to license her patent-pending design to other retailers and designers, she was also out.
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“They are going to regret this,” Shams insisted when she left the tank. “I’m gonna be the Ring of swimsuits!” But did TA3 become another juggernaut that the Sharks missed out on?
