“I see that as a negative” — When Shark Tank mentor Barbara Corcoran critiqued The Handbag Raincoat’s marketing strategy

Shark Tank season 10, episode 5 aired on November 18, 2018. It featured entrepreneurs Morgan Georges and Arley Byars pitching their product, The Handbag Raincoat. Seeking an investment of $300,000 for 25% equity, they introduced their innovative solution designed to protect handbags from rain.

Despite presenting it as a practical and stylish accessory, the sharks questioned the business's scalability and marketing approach. Barbara Corcoran, in particular, critiqued when they mentioned that they did not spend any money on marketing and advertisement.

“I see that as a negative because marketing and advertising is going to be one of your most major expenses you're going to have to encounter if you're going to grow this business” she shared.

While the founders highlighted early successes, including features in Oprah's Magazine and The View, and $600,000 in sales over three years, the sharks were not convinced of the product's long-term potential. Concerns about competition, scalability, and the absence of a clear marketing strategy led all sharks to reject their pitch.

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The pitch and initial feedback for The Handbag Raincoat in Shark Tank

Morgan and Arley began their presentation with a weather-themed introduction, talking about the need for their product in Shark Tank season 5. They explained that The Handbag Raincoat was available in three sizes, designed to protect handbags from rain and other elements.

The product retailed between $11 and $20 and was produced at a cost of $1.79. Despite their claim of organic sales, the sharks questioned their business growth. While discussing the marketing strategy, Arley admitted:

"We have not done marketing or advertising yet"

This made Barbara Corcoran to express her concern that they wouldn't be able to expand their business. Other sharks shared similar concerns, pointing out the importance of marketing in scaling a business.

Additionally, the founders revealed that they had already spent $10,000 addressing copycat issues and held two design patents. However, Kevin O’Leary doubted the profitability aspect.

"There's just no way to make money with you," he shared.

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Business challenges and the final decision of sharks

Shark Tank mentors further questioned the scalability of the product. Kevin O'Leary highlighted concerns about competition and retail sustainability and explained:

"You're not going to stay on the shelves of retail with $125,000 in sales."

Mark Cuban added that despite opportunities, the lack of aggressive marketing and growth strategies had limited their progress. The founders also revealed that they raised $360,000 from friends and family to help with initial production and operations, retaining 84% ownership. However, Shark Tank panelists had doubts about how the company would survive in the long run without any marketing efforts.

"It's cute, it's kitschy, but I don't see it scaling," Barbara Corcoran said.

Another key concern raised was about the competition. The founders mentioned that a major handbag company had launched a similar product priced at $650. While they managed to shut down two copycat products earlier, the cost and effort to deal with larger competitors remained a challenge.

Lori Greiner advised that continuously innovating and releasing new products might be a more viable strategy than engaging in legal battles. Meanwhile, Barbara reflected the consensus among the sharks. Despite acknowledging the effort and creativity behind the product, all sharks ultimately decided to back out of the investment.

The segment concluded with the founders thanking the panelists and leaving the Shark Tank without securing a deal.

As of 2025, The Handbag Raincoat company no longer has an online presence. Its website and most social media platforms appear to be inactive for several years.

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