By Erica Abbott
Christmas Tree Hugger
Next into the tank is Ryan Kenny of The Christmas Tree Hugger, seeking $100,000 for 20 percent equity.
The Christmas Tree Hugger is a holiday accessory that makes any fake Christmas tree look real. The Christmas-themed product is wrapped around the pole at the base of an artificial tree, making it appear much more festive and realistic. The reversible designs, which start at $17.95, include classic brown bark, white birch bark and candy cane. Their website states, “Adults love the realistic bark look and kids go crazy for the festive candy cane.”
Many of the sharks think the accessory is cute, but Kevin O’Leary questions why anyone would want it. In a year and a half, they have done $50,000 in sales. They have also sold on QVC and it was a hit product. Kenny has had issues getting a reorder from Kroger after only selling 40 percent of the inventory.
Lori Greiner doesn’t view the “unsightly” artificial pole as a problem and goes out, followed by Robert Herjavec. Barbara Corcoran likes that he took the initiative to make a sales call and got an order from Kroger, but goes out. O’Leary tells him to “take it behind the barn and shoot it” and goes out, as does Mark Cuban—despite the fact that he likes the concept. Cuban views it as only a product, not a business.
Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging businesses to multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group.
Philanthropist and Virgin Group founder Richard Branson, Spanx founder Sara Blakely, Skinnygirl Cocktails founder and Real Housewife Bethenny Frankel, Vitamin Water founder Rohan Oza and former MLB player Alex “A-Rod” Rodriguez are also slated to appear as guest sharks this season.
“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $100 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Sunday at 9 p.m. on ABC.
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Source:: Business 2 Community