Byoot Swimsuit, an innovative swimwear brand founded by Elyce and Nathan Billany, reinvented the fashion industry with its groundbreaking concept of removable one-piece swimsuits. Showcasing remarkable craftsmanship, Byoot Swimsuit has gained recognition for catering to women’s convenience and style. With an appearance on Shark Tank Season 12, the company made significant waves and secured a deal with Kendra Scott. Over the years, Byoot Swimsuit has grown substantially, navigating the competitive landscape of the fashion industry while garnering attention for their net worth and success.
Early Life and Career of Byoot’s Founders
Elyce Billany, the CEO and founder of Byoot Swimsuit, launched the company in 2018. With a professional background in healthcare marketing, Elyce worked with prominent organizations like UnityPoint Health and Genesis Health System. Her expertise in marketing undoubtedly gave her a solid foundation for building a successful brand. Elyce holds a degree in healthcare from Ashford University, which complements her professional portfolio.
Elyce’s husband, Nathan Billany, the co-founder and business partner, contributed his strong financial and business management background to Byoot’s growth. Nathan previously held roles like Vice President at Walcott Trust & Savings Bank, showcasing his aptitude for handling a company’s financial aspects. Together, this dynamic duo’s synergy transformed Byoot Swimsuit from a budding idea into a recognized swimwear brand.
The team’s participation in Shark Tank Season 12 was a pivotal milestone for Byoot. Seeking $50,000 for 30% equity, their pitch highlighted the innovative design and utility of their swimsuits. Although their proposal did not attract immediate interest from all the Sharks, Kendra Scott extended an offer of $50,000 as a loan at 10% interest and 5% equity, which Elyce and Nathan accepted. This Shark Tank update significantly boosted brand visibility and sales.
Sources of Income
Byoot Swimsuit generates revenue from the following key sources:
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Product Sales
The company’s main income source is the sale of its removable one-piece swimsuits. The unique design, with buttons on each side, allows for easy removal—addressing a significant pain point for women. Made with a mix of 86% nylon and 14% spandex, the swimsuits offer durability, a four-way stretch, and quick-drying properties. Available in chic patterns and colors such as black, navy, red, and floral motifs, Byoot Swimsuit has maintained steady sales, especially post their Shark Tank episode. -
Brand Collaborations and Investments
Although the Shark Tank deal provided immediate financial support, there’s no concrete evidence that Byoot gained additional endorsements or expanded its product range. Nevertheless, the founders’ strategic involvement in marketing and launches (such as Elyce’s children’s book Mama Bean Has a Dream) suggest supplementary income opportunities. -
Expanding Product Line
While as of 2024, Byoot has not expanded globally, its innovative approach and distinctive product line have the potential for scalability and higher revenues in future markets.
Net Worth Breakdown and Financial Growth
The current estimated net worth of Byoot Swimsuit is $0.5 million as of 2024. The financial trajectory of the company experienced significant highs right after its Shark Tank update, with the products selling out soon after their episode aired. The initial pre-orders worth $6,000 followed by an additional $4,000 order demonstrated early customer demand.
Post-Shark Tank, the success story slowed down due to challenges in scaling operations and Elyce’s part-time engagement in the business while working other jobs. While these issues may have impacted Byoot’s international expansion, they also highlight the brand’s resilience amidst challenges.
Assets & Properties
The founders, Elyce and Nathan Billany, come from financial and professional backgrounds, suggesting prudent investments in their personal and business lives. However, specific details about luxury assets or properties associated with Byoot Swimsuit are unavailable. This may imply their primary focus has remained on growing the brand rather than amassing real estate or splurging on high-end assets.
Expenditures & Lifestyle
Both Elyce and Nathan embody a practical approach to blending their lifestyles with their entrepreneurial goals. Elyce continues to contribute actively to her role as a marketing consultant for other ventures, while Nathan thrives as the Director of Business Development at Estes Construction. Their lifestyle arguably reflects dedication to long-term financial growth rather than flashy expenditures.
Height & Physical Appearance
Elyce Billany represents the brand’s ethos of empowering women through functional yet stylish designs. Elyce’s vibrant personality and marketing sharpness, combined with Nathan’s professional acumen, have contributed not just to Byoot’s growth but also to shaping their public image. While exact details of their height and measurements are not publicly known, their polished public appearances reflect an image of professionalism and relatability.
Updated Net Worth as of 2024
Byoot Swimsuit’s net worth stands at approximately $500,000 as of 2024. Although growth has been moderate, the company remains afloat, thanks to its distinctive product and customer base. Whether or not the Shark Tank deal continues to impact their valuation, Byoot’s initial surge in popularity hints at the brand’s long-term potential.
Detailed Bio Table
| Vital Detail | Information |
|---|---|
| Founders | Elyce Billany, Nathan Billany |
| Year Established | 2018 |
| Shark Tank Deal | $50,000 loan by Kendra Scott |
| Estimated Net Worth (2024) | $0.5 million |
| Key Product Line | Removable one-piece swimsuits |
| Material Used | Nylon (86%), Spandex (14%) |
| Popular Markets | Domestic USA |
Latest News on Byoot Swimsuit
Byoot’s most recent update includes Elyce’s venture into other creative spaces with her book Mama Bean Has a Dream, released in July 2022. While the company faced challenges expanding beyond local markets, their appearance on local shows such as Paula Sands Live kept them in the media spotlight.
FAQs on Byoot Swimsuit Net Worth
Q1. What is the current net worth of Byoot Swimsuit?
A1. The current estimated net worth of Byoot Swimsuit is $0.5 million as of 2024.
Q2. Is Byoot Swimsuit still in business?
A2. Yes, Byoot Swimsuit is still operational, focusing on its innovative swimwear despite facing challenges scaling internationally.
Q3. What was Byoot Swimsuit’s Shark Tank Update?
A3. Byoot secured a $50,000 loan via Kendra Scott during their Shark Tank episode, boosting sales significantly in the months that followed.
Q4. What is unique about Byoot’s swimsuits?
A4. Byoot’s swimsuits feature removable sides for convenience and functionality, making them stand out from traditional designs.
Closing Thoughts
Byoot Swimsuit’s trajectory reflects both ambition and resilience. Elevating everyday swimwear into a niche offering, the brand garnered attention from Shark Tank and beyond, carving its place in the competitive swimwear industry. While financial growth has been steady, the founders’ dedication to quality over scaling quickly ensures that Byoot remains a staple for innovation in swimwear.