Cincha is an innovative travel accessory brand that not only aims to simplify and enhance travelers’ experiences but also contributes to making the world a better place. Based in Oakland, California, the company offers unique and stylish products that cater to modern travelers’ needs, while actively supporting initiatives to reconnect migrant families.
Cincha Travel before Shark Tank
Cincha Travel was founded by Ash and James, two passionate travelers who found themselves frustrated with the lack of stylish and functional accessories for securing personal bags to luggage. They set out to create a solution that would not only solve this everyday travel problem but also be affordable and visually appealing.
Working from their apartment in California, the duo focused on designing travel products that would cater to diverse tastes and preferences. They were determined to create a brand that was more than just a travel accessory provider, and sought to make a positive impact on the greater good. Today, Cincha remains a small business that values direct interaction with customers, ensuring the best possible experience for everyone.
Cincha Travel Products
Cincha’s flagship product, the Travel Belt, is designed to securely attach personal bags to luggage handles, providing hands-free convenience during travel. Available in a variety of fun colors and customizable with monograms, the Travel Belt features vegan leather accents, herringbone-patterned nylon, a quick-release metal buckle, and an elastic slip to ensure compatibility with most trolley handles.
Travel Belt Bag
The Travel Belt Bag is a versatile and functional accessory designed for travelers and busy individuals alike. With its spacious interior, it can hold essentials such as phones, passports, wallets, and keys while on the go. The Travel Belt Bag can be worn as a stylish sling, or used as a Travel Belt with the trolley passthrough feature. Made from upcycled and water-resistant nylon, this 2-in-1 travel essential is available in five classic colorways.
Cincha Travel in the Shark Tank
|Shark Tank Air Date||04/07/2023|
|Season||Season 14 Episode 19|
|Entrepreneurs||James Baker and Ashley Sharma|
|Pitch||$200,000 for 15% equity|
|On-air Deal*||$200,000 for 25% equity|
Cincha Travel went into the Shark Tank seeking an investment of $200,000 for 15% equity in their business. This put their proposed valuation at $1.3M with gross sales projected at $1M for 2022, up from $250,000 in 2021 and $32,000 in 2020.
Barbara Corcoran offered to invest $200,000 ($100,000 cash, $100,000 as a line of credit) but for 33% equity, cutting their valuation in half.
Kevin O’Leary offered $200,000 for 20% equity, which gave them a valuation much closer to what they were seeking, but with an added $4 per unit royalty. The royalty would drop to $0.50 after Kevin receives $200,000 in distributions.
Preferring an equity-only transaction, James and Ashley successfully negotiated Barbara down to 25% equity from the 33% she proposed, and they left the Shark Tank with the $200,000 investment they wanted at a valuation of $800,000.
Before and after Shark Tank, Cincha has always been committed to supporting communities in need. Initially, the company donated three meals worth of food for each Travel Belt sold to local food banks around the Bay Area, resulting in over 3,300 meals donated. Since March 2021, Cincha has pivoted back to its travel roots, donating 100 airline miles for each Travel Belt purchase to help reconnect separated migrant families. In partnership with the non-profit organization Miles4Migrants, Cincha has donated over one million miles to date.
Cincha After Shark Tank
Cincha’s appearance on Shark Tank led to a sales surge, with their best-selling travel belts quickly selling out. They garnered media attention from BuzzFeed, Architectural Digest, CNN and were even mentioned on “The View.” Cincha expanded their product line with the Belt Buddy, The Barb Bundle, the Italian collection, socks, and more. Cincha has continued its charitable efforts including donating airline miles to reunite migrant families.
Cincha is more than just a provider of stylish and functional travel accessories. It is a brand with a mission to make a positive impact on the world, by simplifying travel experiences and helping reconnect migrant families. With its unique product offerings and dedication to social causes, Cincha continues to grow as a company that values both style and substance, making it an essential part of the modern traveler’s toolkit.