GoGo Gear is a company founded by Arlene Battishill and Desiree Bates to revolutionize the riding gear industry for women. Despite initial criticism for its appearance on Shark Tank, GoGo Gear has defied expectations and continued to thrive. Let’s explore the GoGo Gear update and net worth, showcasing its dedication to delivering top-notch gear after Shark Tank.
GoGo Gear Shark Tank Update
Arlene Battishill and Desiree Bates founded GoGo Gear to address the lack of quality riding gear for women riders. Their company has made significant strides in producing high-quality motorcycle gear that combines style and functionality, filling a crucial gap in the market. Despite criticism for their valuation and marketing plan on Shark Tank, GoGo Gear has defied expectations and continued to grow.
As a result, GoGo Gear has gained a loyal customer base and continues to expand its reach, empowering women and reshaping the landscape of motorcycle gear. With its entrepreneurial spirit and focus on customer satisfaction, GoGo Gear is poised for further success in the industry.
Hit by the COVID-19 Pandemic
During the pandemic, Go-Go Gear faced financial problems like other businesses in California. Despite the challenges, the owners, Arlene and Desiree, wanted to keep the business running. They voluntarily chose not to pay themselves during the pandemic to prioritize financial stability to support themselves for the coming days.
When things got better, Go-Go Gear expanded its business and developed new products for riders. They also partnered with the California Association of Food Banks to help people struggling with food insecurity. Through this partnership, part of their proceeds went to support food banks in California.
Even though the pandemic presented many challenges, Go-Go Gear persevered. Its commitment to the employees, customers, and the community shows its dedication to being successful through difficult times.
Expansion and Growth
Despite the difficulties it has encountered over the years, GoGo Gear has managed to find significant success. The business has demonstrated that determination and hard effort can be rewarded with higher sales and positive feedback.
Also, the rising social media following of over 10,000 users is their prize for the innovative product range. They have also increased their staff to over 40, demonstrating their dedication to giving people job opportunities.
One of the keys to GoGo Gear’s success is its dedication to offering the best equipment for female riders. The firm earned $7.48 million in 2021, with a huge and impressive increase in revenue and profitability.
By focusing on delivering high-quality items and growing a solid customer base, they have demonstrated that businesses can thrive even in trying circumstances. For other firms trying to progress and succeed in their areas, their achievements exemplify the importance of tenacity and grit.
Direct Ordering and Partnerships
GoGo Gear has revolutionized the gear industry by making its products more accessible to the public through direct ordering from its website. Offering a diverse range of nearly a dozen products, their gear has become a dream come true for gear enthusiasts.
The company’s commitment to delivering top-notch gear has garnered praise from women riders who commend the quality and comfort of their products. With affordable prices averaging around $169 per item, GoGo Gear has struck a balance between cost and quality that appeals to a wide customer base.
GoGo Gear has also ventured into licensing and partnerships with large manufacturers, further expanding their offerings and ensuring affordability for the masses. With its user-friendly website, extensive product selection, and dedication to meeting the needs of riders, GoGo Gear has firmly established itself as a trending brand in the gear industry.
GoGo Gear’s journey after Shark Tank has been a tremendous success story. Its dedication to providing top-notch gear for women riders has paid off as it grows and meets customers’ needs.
GoGo Gear Net Worth
GoGo Gear’s net worth is approximately $7.5 million as of 2023 based on an estimation of their sales performance and recent success. The company’s remarkable journey from an initial valuation of $538,461 during its appearance on Shark Tank showcases its significant growth. This exponential increase in value is a testament to their hard work and dedication.
It has surpassed expectations and proven itself multiple times, paving the way for even more substantial growth in the future. Its outstanding net worth reflects its ability to dominate the gear industry and win over a devoted clientele with reasonable costs and top-notch goods. The company may experience tremendous growth in the years ahead as it continues to innovate, expands its product line, and caters to passengers’ needs.
Because of its exceptional sales results and track record of success, GoGo Gear is in a good position to keep leading the gear market, considering its sales figures and track record of success. Its rise from a small fortune to an estimated net worth of $7.5 million illustrates its tenacity and entrepreneurial spirit, which opened the way for a wealthy future.
Is GoGo Gear Still in Business?
As of 2023, GoGo Gear is still in business and thrives in the industry. While their social media presence may not be highly active, they prioritize updating their website with the latest information and offerings. This approach allows customers to purchase their products directly from the source conveniently.
It boasts a diverse product range consisting of approximately a dozen items designed to meet the needs of its customers. Its products balance affordability and quality, ranging from $149 to $169. The positive customer reviews it consistently receives are a testament to the satisfaction and trust associated with its brand.
Its priority on quality, price, and client satisfaction puts them as a company worth watching as it continues to establish itself in the market. It’s easy to say that GoGo Gear is set up for a successful future thanks to its solid foundation and passionate consumer response.
Shark Tank Deal
The dynamic ladies of G Go Gear presented their stylish and protective motorcycle wear to a panel of investors. Seeking a $300,000 investment for a 15% equity stake, they showcased their products by shedding their casual jackets to reveal the fashionable GoGo Gear underneath. The sharks were impressed by the combination of style and functionality.
Arlene, one of the entrepreneurs, shared that GoGo Gear had achieved $172,000 in sales over the past year and had secured partnerships with 25 retail specialty stores. However, there was a debate about their plan to expand into the European market, with Mark Cuban advising them to focus on the US market first.
Kevin, Mark, Robert, and Barbara ultimately opted out due to concerns and a lack of clarity. But to the ladies’ relief, Daymond John remained interested. After negotiations, a deal was struck with Arlene conceding 65% equity to Daymond John.
Securing the deal with Daymond John provided the financial backing, expertise, and guidance of an experienced entrepreneur. Daymond John’s expertise in the fashion industry and connections could open doors for GoGo Gear, helping it solidify its presence in the market and expand its reach.
With its successful retail partnerships and growing customer base, GoGo Gear is well-positioned to capitalize on its momentum. The exposure from Shark Tank and the endorsement from Daymond John will undoubtedly generate even more interest and sales for their products. As it continues to refine its designs, explore new marketing channels, and expand its product line, GoGo Gear has the potential to become a household name among motorcycle enthusiasts.
The journey of GoGo Gear exemplifies the entrepreneurial spirit and determination required to turn a vision into reality. Its appearance on Shark Tank and subsequent partnership with Daymond John is a testament to its hard work and innovative approach to creating stylish, protective motorcycle gear. With a bright future, it will revolutionize the industry and become a go-to brand for riders seeking fashion and safety.
GoGo Gear’s remarkable success story since its appearance on Shark Tank showcases its determination and commitment to excellence. It is reshaping the gear industry with a growing customer base and strategic partnerships. Whether you’re a rider or a gear enthusiast, GoGo Gear’s high-quality and stylish offerings will impress. Stay tuned as it continues to innovate and pave the way for a new era in riding gear.
What is GoGo Gear?
GoGo Gear is a clothing store that sells two-wheeler riders’ safety gear. It offers a variety of protective apparel that is both attractive and practical and is made of tough, approved armor materials.
Who is the founder of GoGo Gear?
Desiree Estrada and Arlene Battishill founded it to create fashionable, protective riding apparel.
What materials are used to make a GoGo Gear?
GoGo Gear produces protective garments from a range of materials. They employ Kevlar, a robust synthetic fabric, to ward off blades and gunshots. Additionally, the brand employs 100% abrasion-resistant polyester cotton fabric for the exterior layer, 100% DuPont Kevlar fibers, and 95% Kevlar for the inside layer.