SEASON 7 EPISODE 10
PITCH
handbags knitted by senior citizens
ENTREPRENEUR
Sarah Oliver
ASKED FOR
$250,000 for 20%
GOT
$250,000 for 30%
SHARK
Robert Herjavec, Lori Greiner, and Kevin O’Leary
STATUS
OUT OF BUSINESS
Company Background
What is Sarah Oliver Handbags?
Sarah Oliver Handbags was a company that made hand knitted handbags from Peruvian wool and accessorized them with custom made brooches, chains, and magnetic snap closures. The handbags are knitted by elderly citizens from California, known as the Pulettes+1, and can be customized for special events such as weddings. The available collections include Resort Clutch bags, Evening bags, and Shoulder bags.
Who Owns Sarah Oliver Handbags?
Sarah Oliver Handbags was founded by Sarah Oliver who is a graduate of Economics from the St. Lawrence University. She currently remains a designer and the CEO of her namesake company.
Founder’s Story
Sarah started knitting for her friends and family, and when made some sales from it, she knew she had to make a business out of the hobby. She contacted a group of society whose role in nation building and money making, senior citizens and engaged them in knitting the handbags for a wage, has for a long time been neglected. She impacted their lives by keeping them engaged and occupied while utilizing their abilities.
Sarah uses the handbags to scale a special and unique business model that also creates an opportunity for the ever-growing population of senior citizens. She aims to instill in the elderly a sense of purpose and passion. Sarah encountered multiple challenges in her entrepreneurial journey, including how to keep production costs as low as possible to maximize profits.
I found this segment macabre.
Sarah Oliver mentioned that one of her elderly ladies would be paid $17 for making a bag that took her more than a day to make.
No one expressed concern about what seemed like sub minimum wage labor.
No one expressed concern about exploiting elderly people’s willingness to work for cheap as a loophole to increasing margins as a business model for owners and investors to get rich.
What we did hear is Kevin repeatedly express demand for these elderly people to be able to churn out more bags per week.
To which, again, no one pushed back on him. Sarah Oliver only nodded along and agreed that they would.
Its too bad she’s out of business now. Wishing her all the best!