It is said when you wear a ring it should be worn where there is a connection to the heart. But what if I say that the reason behind this venture is full of love and dedication toward a world-class product? The venture name – Tristen Ikaika -has done downright justice to their vision by providing the best rings in styles and shapes that are suited for any occasion or even everyday use.
The designs behind the venture are true to all kinds of emotions and styles in jewelry and nothing beats their wide range of rings for men and women alike.
Company at a glance.
| Business idea | Personalized/customized rings made from spoons |
| Founder | Tristen Ikaika |
| Asked for | $250,000 for 5% |
| Accepted deal | $250,000 for 15% |
| Sharks | Kevin O’Leary |
| Business status | In business |
| Episode | Season 13 Episode 12 |
| Website | Tristen Ikaika |
Index:
Founder Story:
The vision is rooted down to the community they take inspiration from and that nurtures the love they show in their rings. Each ring has a unique name that signifies the importance of the design every time. This way each ring is given a different meaning altogether and you as a customer will surely be interested to buy one.
The founder Tristen Ikaika has a history that makes you say that business can come from anywhere and can be made on the basis of anything. You surely won’t believe me when I tell you that each of these rings was first made with spoons and then the real manufacturing process started when the business expanded itself.
Did the company get a deal on Shark Tank?
Tristen entered the shark tank with his passion-driven business and probably changed the way we look at life for the sharks and the viewers alike. He entered the shark tank seeking an investment of $250,000 for 5% of his business and as he started stating the facts about his business he had some emotional parts too.
He started off by telling about the creation he loved talking about -Rings. He stated that he loved to create things from spoons from the age of twelve. Today the business is unique and so is its audience. He uses social media to increase the audience and wants to grow the brand through collections and core rings. The current lifetime sales are $2.3 million and year-to-date sales are $575,000.
There are monthly phases when he sells his products and they are sold out by hours at the most. His audience loves what he’s doing and waits eagerly for his new collections. When they start selling the products there are people sitting outside for hours before they start to make sure they get the ring they want.
Mark sees the issue in scaling. To answer that Tristen has a core collection that always has products to sell while the others are to add to the core collection, just varied branches. Lori understands that the business is completely centric on the creator and the customer She’s out as she would not like to invest. Kevin is interested in giving an offer. Kevin is interested in a deal and offers $250,000 for 50%. The other sharks are in question of the deal. Barbara jumps in and wants a share of 20% for the $250,000, while Kevin drops to 15%. Tristen agrees to make a deal with Kevin as he wants to safeguard the equity of his business.
What happened to ABC after SharkTank?
The deal with Kevin never closed but the business flourished with a growth of 354% in business. Today the business makes machine-made rings for its customers. The newest collection helps promote mental health awareness and is called “Are you ok?”, which sold out.
Product details:
- There is a passion hidden in this business that is the sole motivator for the creator Tristen Ikaika.
- The collections get sold out in minutes or hours depending n the customer.
- The model of the business is based on Dropshipping.
- The collections always sell out within a month.
- The rings he creates all have symbols related to the particular collection and are always memorable and cherished by their owners (customers).
- The art of handmaking rings started at the age of 12, by stealing spoons from his mother’s kitchen.
Competitors of company
- Layla James
- Maddy girl marketing
- Next day viral
- Addic
- Skyroseco inc
What is the net worth of the company?
At the time of Shark Tank’s appearance, they were valued at around $5 million as per the founders, but Shark valued it at $1.67 million. The current net worth of the company is between ~$4 million as per the information from various sources.
Is the company still in business?
The company is doing great despite not getting a deal that closed. The imagination of the creator doesn’t stop there. He keeps creating new ideas and expands his collection month by month and sells them with pride. The advancement of machines has not stopped him from providing the best to his loyal and cherished customers.
He hopes to build the brand one ring at a time and personalize it all he wants to give more memorable and cherished moments to his customers. He will continue to introduce new products in the form of collections for his eager customers. Nurtured with passion and understanding for the industry and its priceless customers. Tristen is surely the one-man show for the fashion industry.
Tristen Ikaika Social Links:
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FAQs:
What is Tristen Ikaika?
Tristen Ikaika is a personalized/customized ring made from spoons.
What's the net worth of Tristen Ikaika?
At the time of Shark Tank’s appearance, they were valued at around $5 million as per the founders, but Shark valued it at $1.67 million. The current net worth of the company is between ~$4 million as per the information from various sources.