Have you ever wondered what the net worth of Bala Bangles is?
After a showcase on Shark Tank, Bala Bangles exploded onto the fitness scene. Two partners created the brand with the idea of revolutionizing how people work out.
Today, the brand sells its products in over 500 stores in the United States. That includes locations like Bloomingdales and Nordstrom.
As of May 2023, Bala Bangles’ net worth is around $10 million. In this post, we’ll walk you through the company’s meteoric rise to success.
Table of Contents
Early Life of Bala Bangles
Bala Bangles is a fitness company that launched in 2018. Husband-and-wife team, Natalie and Max, began the brand to boost the effects of any workout.
To help you understand how the company came to be, let’s dive into the co-founders of Bala Bangles.
Founders
Natalie Holloway and Maximilian Kislevitz started out their journey working for 72andSunny. It’s a marketing agency based in Los Angeles, California.
There, as their full-time job, they spent 10 years working in the advertising industry. That’s where they built most of their knowledge about the business world.
During their tenure at the agency, they worked with clients like Starbucks and Google.
While the work was lucrative, it was also incredibly draining. So, after a decade with the firm, Natalie and Max decided to take some time off.
With some free time on their hands, the married couple embarked on an overseas trip. They made it all the way across Southeast Asia during their travels.
To stay active during their long trip, the duo picked up yoga. The Hindu practices helped them achieve their physical, spiritual, and mental goals.
Creating Bala Bangles
While spending time in Asia, Natalie and Max were looking for a way to spice up their workouts.
Even though yoga and pilates were keeping them in shape, it wasn’t enough of a physical challenge.
The couple was after a more intense experience.
That’s when Holloway and Kislevitz came up with the idea to add weights to their routine. They used a combination of ankle and wrist weights to boost resistance.
After a few weeks of using the weights, they figured out that this was the ideal way to go. Although there was an issue with the equipment.
Sometimes the tools would be too bulky to use for complex yoga positions. Then, when they realized no one had redesigned the ankle weights since the 80s, they saw an opportunity.
There was a vacuum in the market for stylish and wearable workout gear.
Building the Prototypes
Now that the couple had an idea, all they needed to do was execute it. Sadly, they quickly found out that this was easier said than done.
Luckily, a family member had a connection with a toy manufacturing company. So, after a few meetings and redesigns, the first Bala prototype was ready.
Then, it was time to test out the product and see how it performed in the real world.
Once Natalie and Max agreed on a final design, the next challenge was to figure out manufacturing.
That’s when they launched a Kickstarter campaign that raised about $40,000. The couple then put in an additional $10,000 from their savings and set production into high gear.
By the first year of manufacturing, Bala Bangles was making $2 million in annual sales.
Shark Tank
In 2020, Holloway and Kislevitz wanted to expand the company. For that reason, they decided to go on Shark Tank, and look for investors.
Their original offer was $400,000 in capital in exchange for 10% of their company.
After listening to their pitch, almost the entire cast showed interest. Sharks like Lori Greiner and Kevin O’Leary were some of the first to voice their opinions.
However, in the end, retired professional tennis player Maria Sharapova jumped in for the win.
Since the tennis superstar was quite a bit of a fitness enthusiast, the concept intrigued her. The idea of light and stylish exercise gear was too enticing to pass up.
Next came a few hours of negotiations. By the end of their Shark Tank appearance, Natalie and Max walked away with $900,000.
Mark Cuban and Sharapova agreed to invest a large sum in exchange for 30% of their company.
Bala Bangle Net Worth 2023
As of May 2023, Bala Bangle has an estimated net worth of around $10 million.
After their TV appearance on a Shark Tank episode, the company boosted its sales figures.
With the new investors in place, Max and Natalie were able to increase production. On top of that, due to the pandemic, Bala Bangle sales skyrocketed.
Within a couple of years, the fitness company was able to generate over $20 million in sales.
Frequently Asked Questions (FAQ)
Who Owns Bala Weights?
Natalie Holloway and Max Kislevitz own the majority of the fitness company. However, Maria Sharapova and Mark Cuban own a 30% stake.
Why Are Bala Bangles So Popular?
Due to their excellent quality and elegant design, Bala became a household name. The bracelets and Bala bars are durable and easy to use throughout any workout.
On top of that, they come in a wide range of colors.
Key Takeaways
Don’t Let Work Take Over Your Life
As soon as Natalie and Max realized they were suffering from burnout, they took a sabbatical. That’s why they had enough time and energy to pursue other ventures.
Family Is Essential
Even though Nat and Max had no manufacturing experience, they were able to work around the issue. That was thanks to the support of their family members.
Take It One Step at a Time
While the couple had no experience running a business, they didn’t let that stop them. They faced the challenges head-on and dealt with them one by one.