The Handbag Raincoat: From Startup Promise to Dissolved Potential
Rise and Fall of an Innovative Idea In 2015, sisters Morgan and Arley Sarner launched The Handbag Raincoat, a water-resistant cover for handbags. The product gained initial success, appearing on Shark Tank and securing a deal with Lori Greiner. Unforeseen Challenges Despite early promise, The Handbag Raincoat faced challenges: High production costs ($1.79 per raincoat) Low wholesale prices ($5.99-$7.99) Limited market demand for a luxury product Lessons for Aspiring Entrepreneurs The Handbag Raincoat’s demise serves as a cautionary tale:...