This is a science project of the third grade when it finds its way to the shelves of Walmart and finally ends up on the Shark Tank, you know there is some good story to tell.
HangEase was a collapsible hanger invented by Ryan Landis that America was interested in but failed to maintain its initial popularity.
What Was HangEase?
HangEase was an innovative collapsible hanger that was going to address one of the issues in the household.
The product had a hinge at the center which enabled the hanger to fold by putting downward force on it which made it easier to remove clothes without having to stretch shirt necks or break hangers.
Ryan Landis invented the HangEase in 2003 in a third-grade school invention contest. It began as a mere school experiment, but would yield hundreds of thousands in sales.
Designed by HangEase Net Worth and Valuation
The HangEase net worth has been varying significantly throughout the years. This was estimated at 266,667 when Ryan Landis presented his company in Shark Tank requesting 80,000 dollars as an equity percentage.
Some sources estimated the company to have a valuation of some 2.67 million at the time of its peak publicity in 2014, during the appearance on the Shark Tank.
But the net worth of HangEase at present is 0 in 2025 since the business is closed. The site was shut down, social media profiles were suspended and all retail outlets took down products.
The Shark Tank Pitch
Ryan Landis presented himself on the Season 5, Episode 26 of Shark Tank in order to receive 30% of the equity in exchange of 80,000 dollars in order to increase production and distribution. In his pitch, he showed a spectacular initial success:
- Sold 400,000 hangers to Walmart
- Generated $200,000 in sales
- Earned $70,000 in profits
The sharks at first were distrusted. Robert Herjavec did not perceive a necessity to the product and pulled out, whereas Kevin O’Leary claimed that the product bored the hell out of him.
Barbara Corcoran also said no because of the difference of seven years in running a business.
Irrespective of these turn-downs, Mark Cuban and Lori Greiner provided an offer of 30 percent equity and an offer of 80,000 dollars, subject to patent confirmation. In the show, Ryan accepted the deal.
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The reason the Shark Tank Deal Failed
The transaction between HangEase and Mark Cuban and Lori Greiner never materialized post the show. Although the causes are not revealed, there are a number of factors that probably caused it:
- Patent Issues: The agreement depended on the verification of patents and Lori Greiner stated that she had observed similar hangers in the market.
- Competition Problems: Mark Cuban also remembered that he had seen the same gadgets on the luggage bags, and this made him question the uniqueness of the product.
- Pricing Issues: The hangers were almost four times higher than the traditional hangers thus being not competitive in the retail market.
- Founder Interest: There is speculation that as Ryan had lost interest in the business idea, the Sharks then re-evaluated their investment.
The Early Success Story
HangEase had already been very successful with a kid-invented product prior to the launch of Shark Tank.
The mother of one of Ryan’s classmates worked in a business that sold to Walmart, and noticed his school project and assisted him in receiving a contract with the giant retailer.
Approximately 100 stores were stocked with this product and Ryan hired a patent attorney to guard his invention. The patent was registered in 2007 offering him legal protection of his special design.
The reason behind HangEase going out of business
The hang ease hangers net worth was decreased to zero because of a variety of challenges:
- Lost Retail Partnerships: The retailer ended up losing the product after having initially been successful with Walmart. Ryan caused this due to bad marketing but was unable to give convincing information.
- Seven Years Business Hiatus: Ryan focused on his education rather than the business, and during that period hangers had been stored in boxes.
- Manufacturing Cost: Collapsible design resulted in the hangers being much more costly than conventional ones.
- Market Competition: Hanger market was packed with established brand competitions, who can provide lower prices.
What Happened to Ryan Landis?
HangEase shut down, and Ryan Landis finished his degree, serving in senior-level merchandising at Neiman Marcus, and was planning to graduate in 2023 with his MBA, Rice University.
Ryan has since graduated to greater and improved things, such as patenting a Lytic peptide biosensor in 2019, showing that he is still innovative in other areas.
Lessons Learned in the Travels of HangEase
The HangEase case presents insights that can be of value to those in the business world:
- Timing Matters: A seven year absence of business operations meant that it was very hard to regain momentum and retailer relations.
- Pricing Strategy: The price was four times higher than competitors allowed penetration into the market to be limited.
- Patent Protection is not All: Despite the utility patent, other products of similar type appeared, and they posed a competitive threat.
- Post Investment Execution: Securing a Shark Tank deal; however, it is not the end but the process of making the deal and implementing the business plan are also important.
Current Status of HangEase
As of 2025, HangEase is not operational at all, and the site is down, the social media accounts are disabled, and the products are not sold in any physical stores.
The hangease net worth is at zero and it is not showing signs of recovery.
The Product Design
The HangEase hanger was designed with advanced engineering of such a basic domestic product. The main hinge mechanism meant that the hanger would roll up when shirts were pulled downwards avoiding the stretching and damages that were normally caused by traditional hangers.
The hangers were made of reinforced plastic, which is very durable and can withstand normal usage and also support heavy winter jackets. Nevertheless, the specialized design was highly expensive to produce as opposed to the conventional injection-molded hangers.
Media Publicity and Customer demand
The business was not able to maintain the consumer demand even though the initial demand was very high after the episode in Shark Tank.
The product was creating buzz in the social media and blogs and without distribution in retail and the support of Mark Cuban and Lori Greiner, HangEase was unable to translate attention into sustainable sales.
Frequently Asked Questions
What will be the net worth of HangEase in 2025?
The HangEase net worth is at the present moment, zero, as the corporation shut down all its activities.
The business collapsed because the business deal agreement with Mark Cuban and Lori Greiner did not work out, and the social media profiles and the Web site were no longer online by 2015.
Did HangEase receive a deal at the Shark Tank?
Yes, the proposal to HangEase by Mark Cuban and Lori Greiner was a conditional investment of 80,000 at the cost of 30% equity.
The deal was however subject to a check on the patents and it was not closed after the show.
Why has HangEase not succeeded following the Shark Tank?
HangEase did not succeed because of a number of reasons: its deal with Shark Tank did not close, the product was at least six times more expensive than the competitors, the retail partnerships were not continued, and the founder of the company had spent a seven-year break in the business before the show.
What was the amount of money HangEase made Ryan Landis?
Before appearing on Shark Tank, Ryan Landis was earning about 70,000 in profits by selling 400,000 hangers to Walmart. The Sales made in the Walmart partnership amounted to 200,000.
Where is Ryan Landis now?
Ryan Landis left HangEase to do other businesses. He earned his degree and had to work in merchandising of Neiman Marcus, then earned his MBA at Rice University and patented other inventions such as a Lytic peptide biosensor.
Are you still selling HangEase hangers?
No, HangEase hangers are not being sold anymore. The product is not distributed with the help of any online stores, any retail stores and the official site of the company has not been active since 2014.
What was the HangEase original valuation?
According to the offer of 30% equity of Shark Tank by Ryan Landis in his request of $80,000, the base valuation was around 266,667. The company has been priced as high as 2.67 million at different times when it was in full interest.
