Whatever Happened To NicePipes Apparel After Shark Tank?
Entrepreneur and fitness expert Lisa Binderow has found a simple yet crucial missing piece to workout apparel that she believes has the potential to become a million-dollar idea. Her company is NicePipes Apparel, which has created a line of leg and arm warmers made from the same material as yoga pants. Its stylish lineup is not only made to go with any workout fit but also succeeds at keeping users warm while wicking away sweat at the same time.
Before starting NicePipes, Binderow made her name in the yoga and fitness space. From 2008 to 2014, she worked in various teaching positions at YogaWorks in New York, eventually becoming a teacher manager. Binderow got cold on her walk to the studio every morning and found traditional leg and arm warmers ineffective in providing protection from the elements. From there, she designed her own solution, which would eventually become NicePipes. After wearing them at work, Binderow received immense interest from students and work colleagues alike. The demand made Binderow realize the need for her product, and she quit her job to take on NicePipes full-time.
What happened to NicePipes Apparel on Shark Tank?
Lisa Binderow appears in "Shark Tank" Season 8 with the intent of getting a $100,000 investment in exchange for 10% of NicePipes Apparel. After her presentation, Binderow passes out samples to the sharks. She informs them that each prices out at $42 and costs $7.50 to produce, which she brought down from initially costing $10. In its 18 months of operation, Binderow's business has made $80,000, with sales coming from its online storefront and 40 different yoga studios and gyms.
The investors want to know Binderow's justification for the $1 million valuation. Given the demand from her yoga classes, Binderow believes that NicePipes has plenty of potential, but Kevin O'Leary thinks that the only potential NicePipes has is to get ripped off by competitors. She's invested $300,000 into the venture so far and is confident in her skills as an executive and manager. Mark Cuban isn't so sure and argues with her over her financial decisions.
Cuban, O'Leary, Robert Herjavec, and Lori Greiner all go out, either not believing in the business or disagreeing with the valuation. Barbara Corcoran asks why Binderow believes that NicePipes is worth $1 million, to which she admits that she wasn't sure how to properly value her company and is willing to negotiate. Corcoran admires her transparency and how well Binderow stood up to the other sharks. She offers the $100,000 for 40% equity and a contingency that they partner with Grace and Lace. Binderow counters with a 25% stake, but Corcoran doesn't budge. With that, Binderow respectfully declines the offer, although Corcoran remains confident in the entrepreneur's chance for success.
NicePipes Apparel after Shark Tank
After NicePipes Apparel's "Shark Tank" episode aired on January 13, 2017, viewers shared their mixed thoughts on the fitness wear company and its founder. Some, such as @c4i on Twitter, criticized Binderow's decision-making skills, sharing, "How do you drop $300K on yoga sleeves ... is this business worth $1 million? How do you NOT know your costs?!?" However, others were more in line with Barbara Corcoran's opinion in appreciating Binderow's openness, with @ScottStuart2K saying, "Honesty goes a long way."
Binderow herself was ultimately proud of her time on "Shark Tank" and has no regrets about turning down Corcoran's deal. Speaking with E! News, the entrepreneur said, "If I were to accept this 40 percent [equity offer], my life would change overnight and it would create this life where I'd almost have a boss and my business would be catapulted into a level of success—that is wonderful—and a level of intensity I wasn't sure I wanted."
With or without a shark in her corner, NicePipes was able to do well for itself following the episode's broadcast. Her sales and online traffic saw a significant spike, with the entrepreneur estimating that the business' monthly run rate quadrupled in less than a month after it's "Shark Tank" segment aired.
Is NicePipes Apparel still in business?
Currently, the best place to find NicePipes' lineup is by visiting its official website. At the moment, NicePipes carries arm warmers, knee-high leg warmers, and thigh-high leg warmers. Each item comes in various colors that buyers can choose from and range in price from $38 to $46. The company also offers a 20% discount for first-time customers using a code provided on the website. Part of NicePipes' proceeds go toward fitness-based organizations such as Bent on Learning and Back on my Feet.
However, outside of this source, there aren't many other places to find NicePipes Apparel. While the company is listed on Amazon, the few products available on the site are either out of stock or in very low supply. Lisa Binderow mentioned that NicePipes is sold at 40 different stores while on "Shark Tank," but its site doesn't contain a store locator to better pinpoint any available options. There hasn't been much activity from the team in general over the last few years, with its Instagram, Facebook, and Twitter accounts not posting since 2018.
What's next for NicePipes Apparel?
Lisa Binderow admitted to being somewhat naive to the business world while on "Shark Tank," having no substantial experience running a company or studying business beforehand. Perhaps because of this, NicePipes hasn't seen any major growth since its time on the show, but that doesn't make the venture a failure. It appears that Binderow is satisfied with the scale of NicePipes and doesn't have to stress as much about the sea of competitors she'd have to contend with in creating a Mark Cuban-sized company. More importantly, it has allowed her the opportunity to pursue new interests.
In 2021, Binderow shared an Instagram post honestly describing how much the social media platform has drained and exhausted her over the years. Since the time of her last post in 2017, Binderow went back to school and became an International Board Certified Lactation Consultant. This switch was spurred by the birth of her daughter Siena, who inspired Binderow to bring her love for physical wellness to parents and their babies. She currently runs her own New York-based practice that aids in breastfeeding and postpartum support. Both her website and LinkedIn account still list her as the CEO and founder of NicePipes.