The Pocket Panty, a reusable underwear product founded by Ashlee Turner, aired on the 15th season of Shark Tank USA in 2023. The founder was seeking $80,000 for 10% equity for their business. Unfortunately, she couldn’t secure a deal with any of the Sharks. In this article, we will explore The Pocket Panty’s net worth in 2024, its Shark Tank pitch summary and more.
The Pocket Panty Net Worth
As of 2024, The Pocket Panty’s net worth is $0.5 million, and its annual revenue was $8,000 in 2022.
| Net worth | $0.5 million *estimated |
| Annual Sales Revenue | $8,000 (2022) |
| Profits | Not Available |
| Lifetime sales | $60,000 (When appearing on Shark Tank) |
| Employees | 2-10 employees |
The Pocket Panty Net Worth Timeline
| Net Worth 2024 | $0.5 million |
| Net Worth 2023 | $1 million |
Shark Tank The Pocket Panty Update from Season 15
Ashlee Turner introduced her company, The Pocket Panty, on Shark Tank Season 15. She designed this product to solve common panty problems, offering women a convenient and affordable way to freshen up throughout the day. Whether transitioning from a workout to social plans or needing a quick refresh, The Pocket Panty provides an easy solution without changing underwear entirely.
Turner focused on creating a comfortable panty that avoids the typical issues of muffin tops or ride-ups. After many trials, she developed the first reusable panties catering to women on the go. Designed by women for women, The Pocket Panty encourages women to see the need for an extra pair of panties during the day as usual.
Ashlee handed out samples of The Pocket Panty to the Sharks during her presentation. Lori Greiner asked if Ashlee had researched how many women would use the product. There, Ashlee explained that she had visited several schools where she had given women pairs of The Pocket Pantry and asked for their feedback. Many women told her they’d love to keep a pair in their car’s glove compartment for convenience.
Robert Herjavec then asked about company’s sales. She explained that she launched The Pocket Panty in late 2021 and finished the year with $8,000 in sales. Further, she said that her total sales have reached $60,000 since then.
Mark Cuban then asked about her background, and Ashlee shared that she had started in a real estate business before switching to this business. Then, Mark also asked about production costs and pricing. Ashlee explained that when she first launched this product, she produced small batches costing $2.24 per panty. She sold them for $10 in retail and $5 in wholesale.
Guest shark Emma Grede asked Ashlee where she sells The Pocket Panty. Ashlee explained that most of her sales come from online, but she also sells in several boutiques and girls private schools. At that moment, Mark Cuban asked if Ashlee uses social media. There, she admitted that handling social media is not her strong suit.
Lori Greiner then spoke up, saying she felt other sharks were better suited for a deal with Ashlee. With that, she decided to drop out. Next, Robert Herjavec praised Ashlee, calling her a powerhouse and admiring her great personality. But he couldn’t determine why her great personality didn’t match her low sales. He liked the product but had too many concerns, so he also decided not to invest.
Mark Cuban mentioned that selling The Pocket Panty as an impulse buy is challenging. He suggested Ashlee use social media to promote the product beforehand, emphasizing its potential to significantly drive traffic to her website. However, since Ashlee hasn’t been focused on growing her social media presence, Mark also decided to drop out.
Kevin O’Leary expressed concerns about the price and said the product was too expensive. While he admitted he wasn’t an underwear expert, he emphasized his pricing knowledge. For that reason, he decided to go out.
Emma Grede found it frustrating that Ashlee wasn’t using social media. She pointed out that larger companies could produce and sell the same product at Ashlee’s cost. Emma believed The Pocket Pantry could have been a good investment if priced at $3.99 per unit. Because of these concerns, Emma gave up the deal, and finally, Ashley had to leave Shark Tank without a deal.
| Company Name | The Pocket Panty |
| Founder | Ashlee Turner |
| Business | Emergency underwear |
| Episode | Season 15, Episode 09 |
| Asked Deal | $80,000 for 10% equity |
| Final Deal | No deal |
| Shark | No Sharks |
| Business Status | In Business |
| Company Website | Visit Website |
| Headquarter | Los Angeles, California, USA |
Summary of the Sharks’ Deal List!
| Shark | Offer | Counteroffer |
| Mark Cuban | No | N/A |
| Kevin O’Leary | No | N/A |
| Lori Grinear | No | N/A |
| Robert Herjavec | No | N/A |
| Emma Grede | No | N/A |
What Happened to The Pocket Panty after Shark Tank?
As of September 2024, The Pocket Panty is still in business. Although Ashlee didn’t secure a deal on Shark Tank, she experienced a boost in sales after the episode aired.
The Pocket Panty failed to get a Shark Tank deal because it didn’t use social media to market. However, Ashlee created Instagram and Twitter accounts for The Pocket Panty after the show. Currently, it has over 1600 followers on Instagram. She regularly posts videos to promote her brand and has also started a TikTok account, where she shares updates about her business. Also, Ashlee has done an excellent job establishing her brand on social media after appearing on Shark Tank.
The Pocket Panty Founder
Ashlee Turner founded The Pocket Pantry in 2021. Before starting this venture, she owned a popular candy lounge called Sweet Sugar in Los Angeles. During that time, she organized various celebrity parties, baby showers, and awards shows. Also, she studied at a college in Compton, California, and served at a real estate company while studying.
Further, in Los Angeles magazine, Ashlee Turner was featured for her excellent work. She had to close her candy lounge due to building and construction issues, but this setback didn’t deter her. Wanting to return to entrepreneurship, she eventually achieved her dream by starting The Pocket Panty.
Ashlee Turner, a dedicated activist and a woman of color, sees The Pocket Pantry as more than just a business. It’s a passion project for her, aimed at eliminating the stigma around life’s accidents. She wants to offer a convenient and affordable solution for women on the go, ensuring it suits different body types and is accessible to everyone. Additionally, she is committed to supporting economically disadvantaged women in urban areas.
The Pocket Panty Achievements and Awards
| Year | Achievements and Awards |
| 2023 | The company was featured on Shark Tank Season 15 |
Conclusion
Shark Tank is a TV show that showcases different business ideas and helps them succeed. The Pocket Panty was one of the ventures featured on the show. Despite losing a deal, the company showed that success is possible with the right idea and execution. Now, we eagerly await to see how their success story unfolds in the future.
Before you leave, check out the other company updates in Season 15, Episode 09.
