BootayBag, an innovative subscription-based lingerie service, has earned its reputation as a trailblazer in the e-commerce fashion industry. Pioneered by Ellyette “Elly” Gheno, this brand revolutionized how women shop for underwear—bringing convenience and inclusivity to a typically intimidating shopping experience. With an estimated BootayBag net worth 2024 valued at $11 million, the company reflects how small beginnings can lead to remarkable success.
This article captures the fascinating story of BootayBag’s rise, from its founding to its global recognition, while focusing on its financial achievements.
Early Life and Background of Elly Gheno
The story of BootayBag begins with its visionary founder, Ellyette “Elly” Gheno, who grew up in a conservative household. Raised by entrepreneurial parents—her mother owned a salon and her father managed a chain of restaurants—Elly was no stranger to the hustle and challenges of running a business.
Gheno’s early years were marked by a discomfort with lingerie shopping, a sentiment shared by many women. This personal struggle inspired her vision to develop a discreet, affordable, and empowering way for women to purchase underwear. While details about her formal education are sparse, her hands-on experience working with her family businesses helped sharpen her entrepreneurial mindset. By 2016, she turned an idea into reality with BootayBag.
The Birth of BootayBag
Launched in 2016, BootayBag began as a small side hustle funded with a mere $300 loan from an ex-boyfriend, which Gheno promptly repaid. She initially sourced discount undergarments from local stores, building her first subscriber base from her circle of friends. These early efforts laid the foundation for a subscription box service that delivered stylish, affordable lingerie right to customers’ doorsteps.
Operating initially from Elly’s own home, BootayBag’s business operations skyrocketed after its formal launch, evolving into a recognized player in the lingerie market. Using a model that merged social media marketing and direct-to-customer alignment, the business scaled faster and more effectively than traditional competitors.
BootayBag’s Shark Tank Moment
BootayBag’s turning point arrived in Season 12 of Shark Tank when Elly Gheno pitched her brand to the panel of investors. Seeking $500,000 for 5% equity, Gheno impressed the sharks with her swift success, which included $15 million in lifetime sales and an innovative approach to subscription-based underwear shopping.
After a fierce bidding war among the sharks, guest shark Kendra Scott, the renowned jewelry designer, struck a deal with Gheno, offering $500,000 for 10% equity. Scott’s expertise in retail and manufacturing aligned perfectly with BootayBag’s goals, making her a pivotal partner for the company.
This Shark Tank exposure drastically contributed to BootayBag net worth 2024, not only by providing financial investment but also by opening doors to scalable operations and refined manufacturing processes.
Financial Evolution of BootayBag
BootayBag’s success is quantified by its steady financial growth. From its humble beginnings, the company’s net worth expanded significantly:
- 2016: Started with $300 funding
- 2019: Revenue reached $4.3 million
- 2023: BootayBag’s valuation stood at $10 million
- 2024: BootayBag net worth 2024 is estimated at $11 million
This trajectory reflects its reliance on a multi-revenue stream business model and efficient cost management. BootayBag generates income through:
- Monthly Subscription Service: Packages ranging between $10 and $44, providing customized selections of panties and lingerie sets.
- E-commerce Sales: Beyond subscriptions, customers can buy items directly through their online store.
- Collaborations and Influencer Campaigns: Brand partnerships help promote products, capturing more consumer attention within younger demographics.
| Category | Details |
|---|---|
| Founder | Ellyette Gheno |
| Launch Year | 2016 |
| Initial Funding | $300 |
| Net Worth in 2024 | $11 million |
| Revenue Streams | Subscriptions, E-commerce |
| Shark Tank Deal | $500,000 for 10% equity |
| Subscribers | Thousands worldwide |
Business Strategies and Notable Achievements
Inclusivity as a Foundation
BootayBag’s success stems from its emphasis on inclusivity and its mission to empower women of all shapes and sizes. Offering a broad range of styles, from full-coverage to thongs, the company developed a loyal subscriber base by prioritizing comfort and diversity.
Social Media Mastery
BootayBag leveraged platforms like Instagram to foster a community-like environment. The usage of real customers as models resonated with a wide audience, earning them over 200,000 online followers. This strategy reduced marketing costs while increasing engagement, making it a benchmark for modern e-commerce brands.
Manufacturing Resilience
One of BootayBag’s struggles included navigating unreliable external manufacturers, which delayed product availability and damaged quality. Partnering with Kendra Scott allowed the company to internalize its manufacturing, leading to better control and increased profit margins.
Pivot into New Markets
Responding to demands, BootayBag expanded its product line into activewear and loungewear. This diversification allowed the company to challenge competitors like Fabletics while staying relevant in a rapidly changing market.
Challenges and Downfall
Despite its phenomenal growth, BootayBag faced pressing challenges. Quality concerns emerged after 2023, with some customers complaining about subpar materials and delivery issues. By late 2024, frustration from these problems escalated, resulting in canceled subscriptions and unflattering online reviews.
By January 2025, BootayBag mysteriously vanished from the market, suspending services and erasing all social media accounts. Customers were left without refunds or explanations, which led to public backlash. This abrupt closure raised questions about financial mismanagement or possible burnout from its founder, Elly Gheno.
The Legacy of BootayBag
BootayBag’s story reveals the highs and lows of running a growing business in a competitive industry. Despite its sudden disappearance, the company’s innovations and financial achievements leave a lasting impression on the subscription-based fashion sector.
For now, BootayBag net worth 2024 serves as a testament to ingenuity, resiliency in tackling social stigmas, and the entrepreneurial spirit that Elly Gheno embodied.
