Shemie, a modern interpretation of the traditional women’s slip, was introduced to the world through Shark Tank by Shelton Wilder, a personal stylist and entrepreneur.
The product, designed to be versatile and comfortable, could be worn as a dress, a slip, or a nightgown, appealing to a broad range of women seeking both comfort and style.
Shark Tank Pitch: High Hopes and Challenges
Wilder appeared on Shark Tank in 2012 (Season 4, Episode 407), asking for a $60,000 investment for a 20% stake in Shemie, valuing the company at $300,000.
Despite the Sharks being intrigued by the product, they were hesitant to invest due to Wilder’s lack of a business plan, no sales, and minimal inventory. This led to no deals being made on the show.
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Post Shark Tank: A Short-Lived Success
Despite not securing an investment on Shark Tank, Wilder didn’t give up on Shemie.
She successfully raised $30,000 through a Kickstarter campaign, which gave her the resources to start production and showcase her product in fashion shows.
This effort led to Shemie being featured in top fashion magazines like Vogue, Glamour, and Cosmo, gaining significant exposure.
The Downfall of Shemie
Shemie’s journey, however, was not long-lasting. By 2015, the production of Shemie ceased, and the business was closed down.
Factors contributing to its decline included the high pricing and perhaps the lack of a robust business foundation.
Shelton Wilder’s Pivot to Real Estate
After the closure of Shemie, Wilder pivoted her career towards real estate, becoming a successful realtor in Los Angeles.
She founded the Shelton Wilder Group, a team of real estate agents, and emerged as a prominent figure in the LA real estate market.
Lessons from Shemie’s Journey
Shemie’s story on Shark Tank is one of initial excitement, a struggle to sustain in a competitive market, and an eventual pivot to a completely different career path.
Wilder’s journey demonstrates resilience and the ability to reinvent oneself after a setback.
Her experience on Shark Tank, although not resulting in a deal, provided her with valuable exposure and lessons that she could apply in her subsequent career in real estate.
Conclusion
The story of Shemie is a testament to the entrepreneurial spirit. While not every venture leads to long-term success, the experience and exposure can pave the way for new opportunities.
Shelton Wilder’s journey from fashion to real estate showcases her adaptability and determination, qualities essential for any entrepreneur.
