What Happened to 54 Thrones After the Shark Tank Pitch?
What is 54 Thrones?
54 Thrones is a skincare company that specializes on African-inspired cosmetics. It features products from Africa, including Egyptian lavender, Moroccan mint butter, Ugandan vanilla, and Ethiopian honey butter.
Shea butter, which is derived from African shea tree nuts, is a prevalent ingredient in all of these products.
Who Invented the 54 Thrones?
Christina Tegbe established 54 Thrones. Christina was motivated to utilize African skin care products as a kid by her Nigerian aunt.
Tegbe formerly worked in the corporate healthcare industry as a consultant.
She is presently responsible for the day-to-day operations of 54 Thrones.
54 Thrones is still in operation today and is well-known for its African heritage.
Its products are sold at Nordstrom, on the company’s website, and in select retail locations. The business’s target market includes people of all races, but particularly those interested in learning about Africa’s rich heritage of beauty products.
It is reliant on imports from African countries to stay afloat.
As a consequence, the skincare company may conduct business more easily with the countries from which it acquires raw materials.
In the long run, its revenue streams will soar. 54 Thrones wants to show that Africa is capable of producing luxury and prestige items for export.
This is evident from Christina Tegbe’s social media posts highlighting the journey and uniqueness of each African nation as she travels on her goal to manufacture and design new African-themed beauty products.
54 Thrones’ beauty products have earned several accolades, including the 2020 Oprah Magazine O-ward for Best Face Oil and being named one of Oprah’s Favorited Things in 2020.
Sephora chose 54 Thrones for their Accelerate cohort, and the products will be available later this year in Sephora stores.
The beauty products are sold at Nordstrom, select retailers, and on the company’s website.
What Happened to 54 Thrones at the Shark Tank Pitch?
Christina entered on Shark Tank Season 13 Episode 4 in quest of a $250,000 investment in her African skin care firm in exchange for a 10% ownership. This equates to a valuation of $2.5 million.
She tells the story of her African forefathers who used to give her family tubs of Shea butter.
She then creates a tub for one of the Sharks. Prior to them, the Sharks taste the samples, and Robert need a towel due to his excessive use.
She informs the Sharks that she is a first-generation American whose father instilled in her an appreciation for her heritage.
She left her position as a Healthcare Administrator and cashed in her 401K to travel around Africa, where she became fascinated with African beauty product makers.
She decided to start a skin care line with the assistance of local artisans she encountered on her travels.
2020 sales were $500,000, with a promotional budget of less than $8000. Being a favourite of Oprah Things boosted sales. Previously, a lifetime earnings cap of $300,000 was in place.
Nonetheless, she is on track to earn a million dollars in sales by 2021. Additionally, she formed a collaboration with Sephora and Nordstrom’s.
In 2020, direct-to-consumer sales will account for 75% of total revenue, while retail sales will account for 25%. She sees a reversal of such trends in 2021. Created at a cost of $12, each bottle sells for $80.
Regardless of the profit margins, Robert maintains he is leaving because he lacks a sense of loyalty to the company.
Mark believes Christina is a rock star, but he is leaving due to his lack of understanding of the industry.
Kevin asserts that he is unable to understand how he can add value. Lori withdraws due to a conflict of interest.
Nirav asserts that his wife spent eight years working for Neutrogena and understands that skin care is a way of life.
He promises to contribute half of the money if another Shark joins. Kevin indicates that he will accept a 20% reduction. Christina returns with 15%. Nirav is anxious for the business and claims to be willing to take less equity than Kevin.
Negotiations conclude in a 17.5%, with Kevin O’Leary acquiring a 10% stake and Nirav Tolia receiving a 7.5% stake. Christina accepts their offer to invest in the 54th season of Game of Thrones.
What Happened to 54 Thrones After the Shark Tank Pitch?
There is no indication that the sale was completed, but the business has gathered over 24K Instagram followers and generated a lot of buzz online since the show’s debut. 54 Thrones is now available for purchase at Nordstrom and Sephora.
What is the Net Worth of 54 Thrones?
Christina entered on Shark Tank Season 13 Episode 4 in quest of a $250,000 investment in her African skin care firm in exchange for a 10% ownership. This equates to a valuation of $2.5 million.
She accepted a $250,000 offer from Kevin and Tolia for a 17.5% share, stake thus bringing valuation to $1,428,571
Who are the Competitors of 54 Thrones?
54 Thrones faces competition in its market sector from companies such as Nubian Heritage.
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54 Thrones FAQS
1. What is 54 Thrones?
54 Thrones is a skincare company that specializes on African-inspired cosmetics. It features products from Africa, including Egyptian lavender, Moroccan mint butter, Ugandan vanilla, and Ethiopian honey butter.
Shea butter, which is derived from African shea tree nuts, is a prevalent ingredient in all of these products.
2. What is the target market?
54 Thrones’ target market includes everyone from young teenagers interested in skin care to people of all ages who desire products made with African heritage.
3. How does the company make money?
The company’s revenue streams come from direct-to-consumer sales, retail sales, and wholesale. Direct-to-consumer sales are dominated by Amazon and Sephora.
4. Who founded 54 Thrones?
Christina Tegbe founded 54 Thrones in 2016.
5. Where can they purchase 54 Thrones?
54 Thrones is available on Amazon, Nordstrom, Sephora, and the company website.
6. How much was Christina Tegbe seeking in the Tank?
Christina Tegbe came on Shark Tank Season 13 Episode 4 in quest of a $250,000 investment in her African skin care firm in exchange for a 10% ownership. This equates to a valuation of $2.5 million.
7. How much did they received from the Shark Tank?
Christina Tegbe accepted a $250,000 offer from Kevin and Tolia for a 17.5% share, stake thus bringing valuation to $1,428,571.
8. What Happened to 54 Thrones after the Shark Tank?
There is no indication that the sale was completed, but the business has gathered over 24,000 Instagram followers and generated a lot of buzz online since the show’s debut.
9. Is 54 thrones cruelty free?
Their products are ALWAYS free of parabens, cruelty, GMOs, sulfates, and toxins.
Please keep in mind that the whipped texture of their Beauty Butters will melt in bright sunlight or intense heat.
10. Where do they ship?
They presently ship exclusively within the United States, but they are working on expanding its distribution so that everyone may sample 54 Thrones.
