Twin sisters Taylor Capuano and Casey Sarai found themselves at a crossroads in their careers in 2022. Instead of taking a more traditional route, the women elected to start their own company, Cakes Body, which now does millions in sales each year.
Three years ago, Capuano was a marketing manager at the clothing brand Life Is Good and had just welcomed her first child. Stepping into motherhood left her desiring more flexibility in her working life, she told CNBC. Meanwhile, Sarai was a marketing manager at Pernod Ricard and was struggling with pandemic-era layoffs that had made her job much more difficult.
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Both women "desperately needed a path" forward, Capuano told the outlet. So they decided to take a gamble on starting their own business, feeling that "there was really nothing to lose."
Cakes Body's early success
The pair spent some time brainstorming pain points in their own lives and potential solutions before settling on the idea of producing a new type of silicone nipple cover, they told CNBC. Unlike other silicone nipple covers on the market, theirs would be larger, made of a higher quality silicone that tapered at the edges, and would stick to skin without any potentially irritating adhesive.
Once they had settled on a prototype they liked, Capuano and Sarai each took $5,000 from their personal savings accounts to invest in the business. They spent the money on 500 units, as well as an online store and social media advertisements.
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Five months after launch, Cakes Body had its first viral moment when a TikTok hit 1 million views. The viral video helped the sisters sell out their initial stock.
"It was very exciting and it gave [us] the first glimmer of hope," Capuano told CNBC. Still, the sisters were nervous about quitting their full-time jobs, worried that the viral moment wouldn't be sustained. It would take several more rounds of sold-out stock before they both decided to take the plunge, making Cakes Body their full-time gigs.
The Shark Tank effect
By the end of their first full year in business, Cakes Body topped $1 million in revenue, a spokesman for the company told CNBC. But the sisters weren't satisfied with that level of success.
So, in 2023, they took their nipple covers to "Shark Tank," where they made a deal with Skims and Good American co-founder Emma Grede. The deal, which saw Grede invest $30,000 in exchange for 10% of the company, valued Cakes Body at $3 million.
Grede's investment is currently the only outside money the company has accepted. "We just knew: ‘This is a simple solution that is helping us. I wonder if other people will find it useful,' Capuano told CNBC about the sister's decision to bootstrap their growth instead of taking on outside funding.
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The next chapter
In its most recent fiscal year, ended in June, Cakes Body brought in $95 million in net sales, a spokesperson told CNBC. Capuano now works full-time as the company's chief creative officer, and Saria is its CEO.
The sisters told CNBC that their plans for the future include international expansion and continued growth in the brick-and-mortar space. In August, the company launched in Ulta (NASDAQ:ULTA) and is now sold in 1,000 stores around the country.
Despite their initial fears that Cakes Body's success would be fleeting, they encourage others who have a similar dream to take the plunge.
"There is a moment where you have to take a leap of faith of either ordering the inventory or putting out the first Instagram post," Capuano told CNBC. As long as you're product is solving a problem in a market that has room for financial growth, it’s worth plunging ahead, she added.
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