Nearly four years after an investment from "Shark Tank" personality Lori Greiner, CEO and co-founder of NightCap Shirah Benarde is still attracting interest from businesswomen across industries.
"I went to this [Las Vegas] panel with the CEO of Forever 21 [Winnie Park] where she's talking all about women empowerment, and I really admired what she was saying," Benarde said. "My friend and I walked up to her, and I said to her, 'You did so amazing. That was really inspirational. This is my product NightCap,' and within like 30 seconds, [Park] said, 'Let's get this in the stores.'"
After a follow-up connection, NightCap's stretchy drink covering has expanded to all 400 Forever 21 stores and sold 8,000 units. The nationwide expansion is part of a stretch of growth for the company, and Benarde is now focused on building brand awareness.
"It's pretty wild," Benarde said. "I have friends sending me pictures of the product being used in Germany and different countries. And to know the power of marketing on social media can spread that wide is pretty magical and powerful to not only get your product out there but keep people safe and allow them to have that peace of mind."
Since its founding in 2019, NightCap has expanded to producing $2 million in annual revenue and has sold more than 500,000 scrunchies in 40 countries. The profitable company has developed new product offerings, landed partnerships and sought new venues to distribute the product, Benarde said.
Benarde founded the company before her freshman year at the University of Tampa in 2020. She later left school to focus on the business but has remained in South Florida.
Shirah and her brother run the company with one part-time employee and outsourced manufacturing and fulfillment. The company has an office space in West Palm Beach, and the duo travel regularly to promote the product, Benarde said.
"We also wear a lot of hats, and until we can't anymore, that's how we like it and function best," Benarde said.
Greiner is still a mentor and cheerleader, and she provides advice and mentorship for the company when needed, Benarde said.
In October 2023, it partnered with Austin-based dating app Bumble. The partnership came from the dating app's interest in compiling a safety kit for college students. The campaign distributed the safety kits to more than 160 campuses across the country in October.
The company also now has sold to the U.S. Military, Navy and Air Force and liquor brands Bacardi, Patron and Grey Goose.
Benarde's focus on social media marketing has played a role in this expansion, she said.
"Social media is the No. 1 thing that has impacted our growth," Benarde said. "In 2022, we realized that when we started posting."
It shocked Benarde to see the interest and reaction to the social media posts, she said. Some of the first posted videos received millions of views, and at one point, a NightCap video received over 40 million views and netted more than thousands in sales.
Benarde has continued the pursuit by posting about her personal activities and experiences as a founder. Benarde is active across social media accounts, posting news of the Bumble partnership and Forever 21 expansion in TikTok videos.
It's a way of building trust with the product and interest in her entrepreneurial story, she said.
"Combining our personal brand with the product has resulted in over 300 million views on all of our platforms," Benarde said. "We've run ads a couple of times because people always ask us, but if you look at the entire five years of running the business, it's really all organic views and attention. So, yeah, social media, TikTok and Reels have really been like the key to our success and our reach."
