What Happened to Taaluma Totes after the Shark Tank Pitch?
What exactly are Taaluma Totes?
Taaluma Totes is a line of backpacks made using traditional fabrics from across the world by people with disabilities
Taaluma Totes distributes 20% of profits to the country of origin of your bag (where the fabric was obtained) – funds are used to micro-lend to farmers and small business owners.
They return the loan when they are able, and Taaluma Bags uses the funds to purchase extra fabric for the production of further bags.
Taaluma Totes has enlisted college students as ambassadors, responsible for selling Taaluma Totes on college campuses.
As of 2021, Taaluma Totes has disbursed over $250,000 in microloans to over 1,400 settlements.
Who Founded Taaluma Totes?
Jack DuFour and Alley Heffren established Taaluma Totes.
Dufour and Heffren created the business in 2013 out of a shared enthusiasm for travel, vibrant colours, and social entrepreneurship.
They came up with the notion while on a trip together to Uganda. Alley selected a fabric swatch that she liked and had a skirt made from it.
Jack took some material and had a seamstress stitch it into a backpack. Due to the small quantity of textiles produced, each bundle is considered a “limited edition.”
They get their fabrics from all around the globe. When the two decided to try their hand at Taaluma Totes (Taaluma is Swahili for culture), they launched an unsuccessful IndieGoGo campaign, garnering little over $2300 of a $10,000 target.
That did not deter them from completing their mission. The company’s method is unique: they acquire fabrics from impoverished countries, ship them to the United States, and have disabled individuals weave them into backpacks.
What Happened to Taaluma Totes during the Shark Tank pitch?
Jack and Alley featured on Shark Tank season 6 episode 20 in search of $110,000 and 15% equity. This amounts to a valuation of $733,333.
They include a story and samples.
Daymond approves of the product but says it is priced too low; he believes it should be marketed for $100 rather than $65.
They are also popular with the other Sharks. They explain how each bag helps support a microloan.
Lori enquires about the Taaluma Totes sales, which Jack reports totalled $60,000 in the previous ten months, supporting $6,000 in micro-loans to artisans to construct further backpacks.
They specifically state that the funds will be utilized to strengthen their campus ambassador program.
Robert Herjavec praises the product, calling it “excellent.” He assures them that we are here to aid in the growth and development of a firm. Robert feels they have entered Shark Tank prematurely and departs.
Mark Cuban teaches students to be proud of themselves, but to remember that they are a product, not a company. He’s been ejected because they haven’t advanced far enough.
Lori Greiner informs Jack and Alley that she had to figure out the process when she initially began, but it is too soon for her and she exits.
Daymond John bends his head in their direction. He has a problem since they are not considering margins, which means that you cannot sustain at the present pricing level. He has departed.
Kevin O’Leary is inspired by Alley’s story since he, too, is the son of a State Department employee. He also lived in a number of other countries across the world.
Kevin’s beef is that the firm isn’t worth the price they’ve assigned it. Kevin determines that they are way too young for him and exits.
Kevin is the final Shark to withdraw from the transaction, leaving Jack and Ali with no investment in Taaluma Totes.
What became to Taaluma Totes following their Shark Tank Pitch?
They received 8,000 orders the weekend after their initial airing. They’d sold around 1000 bags throughout the entirety of their company up to that moment.
Due to the fact that they were limited to creating bags, they were compelled to adapt.
They now have a mechanism in place for crowdsourcing fabric purchases. The couple used to traverse the world for ten months of the year in quest of materials.
Travelers may now send Taaluma a minimum of 15 yards of fabric. This should suffice for 12 bags.
When a traveller sells one of these bags, he or she earns $15. The couple married in October 2016.
By August 2021, they are still in business, generating $3 million in annual sales.
What is Taaluma Totes’s Net Worth?
Jack and Alley featured on Shark Tank season 6 episode 20 asking for $110,000 for 15% equity in their Company. This amounts to a valuation of $733,333.
The Company’s current valuation is clearly greater as a result of its growth.
Who are Taaluma Totes’s Competitors?
There are no known competitors for Taaluma Totes.
Taaluma Totes FAQS
1. What fabrics are used in Taaluma Totes bags?
Textiles are sourced from countries such as Mexico, Ghana, Cambodia and Peru. When Jack and Alley travel to these countries, they personally select the materials.
2. What is Taaluma Totes?
Taaluma Totes is a socially conscious and sustainable bag company that empowers artisans and people with disabilities.
3. Who founded Taaluma Totes?
Jack DuFour and Alley Heffren established Taaluma Totes.
4. How much does it cost to buy Totes?
Taaluma Totes bags cost is $65 each.
5. Do Taaluma Totes products come in all colours?
Yes, there are different colours for the Taaluma Totes backpacks
6. What is Taaluma Totes’ Website?
Their website is www.taalumatotes.com
7. Where can they buy Taaluma Totes?
They can purchase Taaluma Totes on their Website.
8. When was Taaluma Totes founded?
They were founded in 2013.
9. How much was Jack DuFour and Alley Heffren seeking in the Tank?
They were seeking $110,000 for 15% equity in their Company. This amounts to a valuation of $733,333.
10. Did Jack DuFour and Alley Heffren get a deal from the Sharks?
No, the pair left the Tank without any Shark deal.
11. Is Taaluma Totes still in business?
Yes, as of August 2021, they are still in business, generating $3 million in annual sales.
12. How can you contact Taaluma Totes?
The best way to contact them is through their email at [email protected] if they have any questions or comments.
13. What Happened to Taaluma Totes after the Show?
They received 8,000 orders the weekend after their initial airing. They’d sold around 1,000 bags throughout the entirety of their company up to that moment.
14. How does Taaluma Totes contribute?
Taaluma Totes contributes 20% of profits to the country of origin of your bag (where the fabric was obtained) – funds are used to micro-lend to farmers and small business owners.