Here's What Went Down With Mix Bikini After Shark Tank
We've seen all sorts of clever ideas pitched on "Shark Tank," but Mix Bikini was one of the more unique ones. Just as the name implies, the business was centered around the idea of mix-and-match swimsuits. Entrepreneurs Frank Scozzafava and Adam DiSilvestro explained their vision was that women could buy an array of top and bottom separates and come up with endless looks of their own. Since the concept was so fun, it's not terribly surprising that Mix Bikini has quite a story following its 2012 "Shark Tank" exposure.
We've seen a lot of women's apparel pitched on "Shark Tank," with some success stories and some flops. Behave Bras did really well on the reality show, and continued to have a bright future. Bodybuilders Amanda Kuclo and Steve Kuclo pitched their athletic line, Bootyqueen, that caught the attention of shark Daymond John, who ended up being really happy he invested in the long run. Meanwhile, Pashion Footwear didn't secure a deal on "Shark Tank," proving it's not a reality TV success story every time. Mix Bikini did get the attention of Barbara Corcoran, but she ended up regretting her involvement with the business.
What happened to Mix Bikini on Shark Tank?
Frank Scozzafava and Adam DiSilvestro showed up on "Shark Tank" with a little more than a wish and a website. They presented the sharks with a digital model for shopping the mix-and-match sets that presented shoppers with a visual of how the different colors would look.
Scozzafava and DiSilvestro were looking for $50,000 in exchange for a 5% stake in their company. However, they didn't have a strong record of sales because at the time, they had only done a soft launch, after being pressed by Robert Herjavec. The two founders appared on "Shark Tank" with more of a concept rather than an actual business. They shared with the sharks that they hoped to branch out from online shopping to kiosks, which would cost $25,000 each to build, not including monthly upkeep and rental fees.
While they had a cool idea, the sharks are called sharks for a reason. When sharks Daymond John and Kevin O'Leary inquired about their plans to directly sell the bathing suits versus licensing them out to vendors, Scozzafava and DiSilvestro didn't have an answer. For these reasons, most of the sharks pulled out, claiming that the two entrepreneurs didn't have a solid enough business plan. Nevertheless, Barbara Corcoran did make them an offer. She gave them $50,000 in exchange for 25% of their company, which Scozzafava and DiSilvestro accepted.
The epic Mix Bikini party following Shark Tank
Frank Scozzafava and Adam DiSilvestro became business partners with Barbara Corcoran. In ABC's "Beyond the Tank," Corcoran said, "When I first laid eyes on Frank, I knew I was looking at a great salesman. He could sell anything." She went on, "I also loved his product. He had a clever, new thing that women were going to love."
The night that they aired on "Shark Tank," Scozzafava and DiSilvestro put on a massive party in New York City to celebrate the success of Mix Bikini thanks to Corcoran's affiliation with the brand. Scozzafava explained what went down that night. "We had cakes with Barbara riding a shark," he said. "We had a car that we were giving away. We had an indoor swimming pool." Scozzafava said that Corcoran wore a pink dress and a wig, though she refused to wear a bikini.
While the party was absolutely epic, they spent all of the money that Corcoran invested in their brand. "I would estimate we spent $50,000 on the party," Scozzafava said. "At least." Corcoran admitted that the party was impressive, but from a shrewd business perspective, this wasn't a great idea. "I was wowed by the party, but in the pit of my stomach, I was worried," she said. Corcoran said that the next day, she realized that her investment likely helped finance the epic party.
Why did Mix Bikini go out of business?
After the massive party, things took a turn for Mix Bikini. It turns out the brand's founders were hoping that "Shark Tank" exposure would lead to a massive spike in sales on their website, since this often happens for brands that make it onto the ABC show.
However, Mix Bikini's website crashed right after their episode aired, and they weren't able to fix it for an entire week. By the time Mix Bikini was up and running again, unfortunately, it was too late: the momentum was gone. They ended up losing an estimated $200,000 in sales; a big hit for a relatively new business. Corcoran had to accept that she lost her investment, while Scozzafava and DiSilvestro lost their business. It was a combination of excessive spending on the party, combined with a massive technical problem at the worst possible time.
Corcoran spoke about this loss during an interview with "The Shark Tank Blog" Channel, and had nothing bad to say about Scozzafava. "Frank was a natural born entrepreneur," she said. "He will be back with another nine businesses." Corcoran said the problem was that his concept just wasn't going to catch on with people. She also said she couldn't have lost her money in better hands, so there are clearly no hard feelings there.
What's next for the Mix Bikini entrepreneurs?
While Mix Bikini ended up closing down, one of the business's original creative partners, Kelsey Duffy, was able to salvage the concept and created a new brand called Versakini. She collaborated with "Project Runway" designer Amanda Perna on the new brand. The concept was quite similar; customers could mix and match pieces to create one of a kind bikinis. Versakini did well when it first launched. In 2018, they raked in over $8 million in revenue. However, Versakini didn't last and as of 2023, the website is down. Meanwhile,their social media hasn't been updated in years. According to Duffy's LinkedIn, Versakini shut down in 2018, and she now works for Alden Image as a marketing director.
As for Frank Scozzafava, he now works as the VP of Business Development for Lierda Science and Technology Group Co. Ltd. in New York, according to his LinkedIn. As for Adam DiSilvestro, he went on to found Disos Italian Food Truck and is a cofounder of the New York Food Truck Association, per his LinkedIn. While Mix Bikini didn't work out, it seems these entrepreneurs dusted themselves off and went on to other exciting ventures. We love to see that kind of spirit!