Do you remember the memories as a newborn told by all parents alike? What was your favorite thing to sleep with? Let me guess it would have been a teddy bear. What if I said your kids could have the same with an added benefit?
Slumberkins – a toy manufacturer for newborns that have sensory and aesthetic understanding woven in each thread. All this is to develop a healthy and positive vibe for your child. The experience is totally new and allows the child to sleep in peace.
Slumberkins at a glance:
| Business idea | Positive attitudes expressed using stuffed toys and a collection of books |
| Founder | Kelly Oriard and Callie Christensen |
| Asked for | $175,000 for 5% |
| Accepted deal | No Deal |
| Sharks | None |
| Business status | In business |
| Episode | Season 9, Episode 11 |
| Website | Slumberkins |
| Buy on Amazon | Buy Now! |
Index:
Founder Story:
The two founders came up with an idea while making blankets for their children. The new innovation took no time to develop, and the added features were numerous. They introduce some rhymes and songs with the cuddly soft toys with a difference. Each toy promotes positive attitudes like self-esteem and relaxation and attachment. What more would you need for your child?
The two founders have been friends since college and have been educators. Using their professions to their advantage they came up with Slumberkins.
Did Slumberkins get a deal on shark tank?
Kelly and Callie entered the shark tank seeking an investment of $175,000 for 5%of the company. The two founders first start by introducing the story behind the product. Then the demo takes the next place, of how the product works. They talk about the channels through which they market the product like Amazon and their website and Instagram.
In 2016 they did $200,000 in sales and in 2018 they are aiming at $500,000. They have successfully found a new manufacturer that has promised to reduce the manufacturing cost to $6 per unit. They need the money from a shark to provide for the overwhelming demand they have for their product.
The plush toy industry is very tough to tackle. Daymond has gone through the experience and goes out. Kevin’s view is that a highly-priced plush toy is hard to sell. He’s out. Mark believes 5% is not enough for an investor to invest in the business. He’s out. Lori loves the product and the women who run it but not the industry, she’s out.
What happened to Slumberkins after the Shark Tank?
After airing on shark tank the sales saw, a significant difference, and the Slumberkins franchise took many forms like the following:
- They started off their sales in 2018 and the sales just doubled.
- They started collaborating with the Jim Henson company to make the toys lively and active. This series was in action in 2021.
- In 2019 the business raised $2.8 million in venture capital.
- In 2020 their revenue had an increase of 1657%. They also started a Slumberkins school which was in action due to covid. This school would provide music, activities, books, and coloring sheets for all the children who could learn virtually.
Product details:
- The product is created to promote positive attributes toward your kids.
- There are three main styles to choose from plush, ultra-plush, and others.
- Slumberkins are made from plush mink fabric, and polyester embroidery thread, and stuffed with hypoallergenic polyester fiberfill.
- They want to sell these in retail stores nationwide, but this dream remains a dream as they started off with one outlet, but it didn’t turn out to be a success.
- The cost of manufacturing on shark tank was $15 per unit while the selling price was $44-$52.
- The company believes this product is the best way to build emotional growth and attachments with people and toys alike.
- They have gifts aligned for all age groups till the age of 8. The age groups include 0-2 and 3-8. There are gifts under $20 as well as gift sets, especially for holidays like Christmas.
Competitors of Slumberkins:
- Eduware
- Team prevent
- The Share Space foundation
- Tu Nidito
What is the net worth of Slumberkins?
At the time of Shark Tank, founders valued Sluberkins at $3.5 million. The current revenue of this company is $3 million, which makes them valued with a humble estimation at around ~$6 million. I hope it keeps on growing!!
Is Slumberkins still in business?
The company is well on its way to grabbing some big business. The company is generating $ 3 million as of now in 2022. They generated a lot of revenue in the year 2016 and 2018. The company has also invested and gained funding from venture capitalists in 2019. All this has helped it to grow into a nationwide brand. The places where they still sell the product are Amazon, their website, and some retail stores.
The future holds many things and many big dreams for this company, but no one knows how many will come true. I hope determination and perseverance will help them in their journey to success.
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FAQs:
What is Slumberkins?
Slumberkins is a product of positive attitudes expressed using stuffed toys and a collection of books. Kelly and Callie entered the shark tank seeking an investment of $175,000 for 5%of the company.
What's the net worth of Slumberkins?
At the time of Shark Tank, founders valued Sluberkins at $3.5 million. The current revenue of this company is $3 million, which makes them valued with a humble estimation at around ~$6 million. I hope it keeps on growing!!