Here's What Happened To Mix Bikini After Shark Tank
Settling down on the perfect bathing suit can be a serious hassle – and an experience women dread before heading out to get their tan on. Well, it turns out that finding the perfect swimwear for your body type and style preference doesn't have to be so difficult. Enter Mix Bikini, a fashion line that introduced mix-and-matching to the world of swimwear.
Founded by Frank Scozzafava and Adam DiSilvestro, Mix Bikini appeared on "Shark Tank" in 2012. They entered the reality investing series during its third season. Scozzafava and DiSilvestro introduced their product to the panel of angel investors as the world's first interchangeable swimsuit (per Shark Tank Blog). The "Mix Experience" allowed women to completely customize reversible bikinis online – with control over the color, cut, rings, and strings. When the customer is ready to switch up her poolside look, there's no need to buy a new set. She can simply return to the Mix Bikini site and order a compatible piece to mix up her look.
While this business was very impressive to the Sharks, there was one thing missing: credibility. Scozzafava and DiSilvestro explained during their pitch that they were still in the "soft launch" phase, meaning that Mix Bikini was still low on sales. Instead, they requested guidance from the Sharks in order to reach success.
What happened to Mix Bikini on Shark Tank?
With "Mix Bikini" still in its early stages, Frank Scozzafava and Adam DiSilvestro surely had their work cut out for them. They arrived at the "Shark Tank" requesting $50,000 in exchange for 5% equity in their business. The Sharks, of course, got to questioning. The entrepreneurs broke down the cost of their bikinis: with each piece ringing in at $9.99, a full set costs around $50 (via Gazette Review). Ultimately, they aimed to take their business beyond the Internet and open up shopping kiosks.
Scozzafava and DiSilvestro claimed that Mix Bikini already had $500,000 in investments, and could potentially license their product to manufacturers. While these ideas seemed promising, it appeared obvious to the Sharks that they didn't have a clear-cut plan. Before exiting the deal, Mark Cuban explained to the business hopefuls: "We can offer capital, we can offer guidance, but we can't set the path for you. What you guys have, is a product and an idea, and a hope." (per Shark Tank Blog)
For this reason, Mark Cuban, Kevin O'Leary, Robert Herjavec, and Daymond John were out. The only Shark left standing was Barbara Corcoran, who saw potential in Mix Bikini. The successful businesswoman has revealed what she looks for in a person before investing, and it appears that this spirited duo had it. She offered Scozzafava and DiSilvestro $50,000 in exchange for 25% equity, which they heartily accepted.
Mix Bikini After Shark Tank
After snagging their deal with a Shark, Frank Scozzafava and Adam DiSilvestro did not take the accomplishment lightly. In a "Beyond the Tank" special segment, audiences got a behind-the-scenes look at Mix Bikini after their appearance on the show. It turns out that the fashion founders threw a party to celebrate on the night their episode aired. Even Barbara Corcoran, their new angel investor, was present for the bash.
However, the celebratory period was short. Right after their episode aired, the Mix Bikini website crashed – which resulted in a loss of at least $200,000 worth of sales (per Gazette Review). The website was lost for over a week, only prolonging their lost success. After this, Scozzafava and DiSilvestro had to find a way to recover quickly. They handed their business over to one of their trusted partners, Kelsey Duffy, who brought in a former Project Runway designer.
Thus Mix Bikini was rebranded to "Versakini," featuring new styles with the same convertible idea. The new brand fared well – Versakini was featured in Miami Swim Week and saw an annual revenue of $5 million. Sadly, this success was also limited. The business closed its doors in 2018, and its online shop was closed. Versakini's various social media pages also have not been updated since then.