54 Thrones is a skincare brand that has taken the beauty industry by storm, thanks to its founder Christina Funke Tegbe’s commitment to embracing African beauty and contributing to global good. The company has gained significant prominence after its founder made an impressive pitch on the famous television show, Shark Tank.
This blog post provides a comprehensive 54 Thrones Shark Tank update, delving into the details of the pitch, the deal, the current status of the business, and the future plans of the company.
The 54 Thrones Pitch and Deal at Shark Tank
Christina Funke Tegbe entered the Shark Tank in Season 13, pitching her skincare brand 54 Thrones to the experienced panel of Sharks. Her charisma, confidence, and solid business model impressed the Sharks, leading to a successful deal with Kevin O’Leary and Nirav Tolia. They asked $250000 for 10% equity in his company. The deal was secured for $250,000 in exchange for 17.5% equity in 54 Thrones, marking a significant milestone in the company’s journey.
Is 54 Thrones Still in Business?
54 Thrones is not just in business; it’s thriving. The company has an estimated annual revenue of $1.3 million and is expanding its retail presence across major platforms. Today, 54 Thrones’ products can be found in Sephora, Nordstrom, and Credo Beauty. The company’s success is a testament to Christina’s entrepreneurial skills and her commitment to celebrating African beauty.
What Was 54 Throne’s Net Worth?
In the year 2020, 54 Thrones made an impressive $500,000 in sales, spending only $8,000 on marketing. With such a high return on investment, the company’s net worth has witnessed a substantial increase. It is projected to earn a million dollars in 2021, indicating robust financial health and a promising future.
Impact of Shark Tank on 54 Thrones
The Shark Tank appearance was a game-changer for 54 Thrones. The television exposure boosted the brand’s visibility, leading to a surge in sales. Christina capitalized on this publicity, offering coupons and sales to promote her beauty products. Following the episode of Shark Tank, 54 Thrones experienced a significant increase in sales due to its launch in Sephora.
Business Overview
54 Thrones is a skincare brand that leverages the benefits of shea butter. The brand’s name is a tribute to the 54 countries in Africa, signifying its roots and mission. The company operates on the principle of ‘Trade not Aid,’ aiming to collaborate with local artisans rather than viewing them as mere recipients of humanitarian aid. This approach sets 54 Thrones apart, contributing to its unique brand identity and appeal.
Future Plans for 54 Thrones
The future looks bright for 54 Thrones. With its products being featured in product roundups for top skincare in publications like Vogue, Glamour, and Buzzfeed, the brand’s popularity is on the rise.
The company plans to continue expanding its retail presence, with preparations underway to launch online in Sephora and expand into Nordstrom. These initiatives are expected to significantly increase the company’s retail sales.
Conclusion
54 Thrones is a shining example of entrepreneurial success. From a successful pitch on Shark Tank to impressive financial growth and a promising future, the company has made impressive strides in the beauty industry.
The 54 Thrones Shark Tank update gives us a glimpse into the brand’s journey, reinforcing the belief that with passion, dedication, and strategic planning, one can conquer any industry. As we move forward, 54 Thrones is a brand to watch out for, as it continues to celebrate African beauty and contribute to global good.
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