54 Thrones Shark Tank Update |what happened to 54 Thrones after the Shark Tank Pitch?
What is 54 Thrones?
54 Thrones is a skincare line that creates African-themed cosmetic products. It includes African-made goods such as Egyptian lavender, Moroccan mint butter, Ugandan vanilla, and Ethiopian honey butter.
Shea butter, produced from African shea tree nuts, is a common component in all of these items.
Who is the Founder of the 54 Thrones?
54 Thrones was founded by Christina Tegbe. Christina was influenced by her Nigerian aunt to use African skin care products as a child.
Tegbe formerly worked as a consultant in the corporate healthcare sector.
She is currently in charge of 54 Thrones’ day-to-day operations.
54 Thrones is still in business today, and it is well-known for its African roots.
Its items are available at Nordstrom, on its website, and at other retail locations. People of all races are the business’s target market, particularly those looking to enjoy the rich African history of beauty goods.
It relies on imports from African countries to keep things flowing.
As a result, it is easier for the skincare firm to do business with the nations from where it obtains raw materials.
Its revenue flows will skyrocket in the long run. 54 Thrones aims to demonstrate that Africa can also make luxury and prestige goods for export.
This is clear since Christina Tegbe highlights the trip and uniqueness of each African nation on her social media accounts as she travels in her mission to produce and design new African-themed beauty products.
54 Thrones’ beauty products have received various honours, including Oprah Magazine’s O-ward for Best Face Oil 2020 and being named one of Oprah’s Favorited Things in 2020.
Sephora selected 54 Thrones for their Accelerate cohort, and the goods will be available in Sephora shops later this year.
The beauty items are available at Nordstrom, other select shops, and on the company’s website.
What happened to 54 Thrones at the Shark Tank Pitch?
Christina appears on Shark Tank Season 13 Episode 4 in search of $250,000 for a 10% stake in her African skin care company. This translates to a $2.5 million valuation.
She narrates the story of her African ancestors who used to send tubs of Shea butter to her family.
She then makes one of the Sharks’ tubs. Before them, the Sharks try the samples, and Robert needs a towel because he used too much.
She tells the Sharks she is a first-generation American whose father instilled in her a sense of pride in her history.
She resigned her work as a Healthcare Administrator and cashed in her 401K to travel throughout Africa, and she was intrigued to African beauty product manufacturers.
She decided to launch the skin care business with the help of local artists she met while traveling.
2020 sales were $500,000, with barely $8000 spent on promotion. Being on Oprah’s favourites Things increased sales. Previously, lifetime earnings were $300,000.
She is, nonetheless, on course to make a million dollars in sales in 2021. She also struck a retail partnership with Sephora and Nordstrom’s.
In 2020, direct-to-consumer sales were 75% and retail sales were 25%. She anticipates that those figures will reverse in 2021. One bottle costs $12 to create and $80 to sell.
Despite the profit margins, Robert claims he’s leaving because he doesn’t have a heart for the firm.
Mark thinks Christina is a rock star, but because he doesn’t understand the industry, he’s leaving.
Kevin claims he cannot see how he can provide value. Lori declares a conflict of interest and withdraws.
Nirav claims that his wife worked for Neutrogena for eight years and understands that skin care is a way of life.
He offers to put up half the money if another Shark joins him. Kevin says he’ll take a 20% cut. Christina comes back with 15%. Nirav is so desperate for the business that he claims he’ll take less equity than Kevin.
Negotiations result in a valuation of 17.5 percent, with Kevin O’Leary receiving 10% and Nirav Tolia receiving 7.5 percent. Christina accepts their offer to invest in 54 Thrones.
54 Thrones after the Shark Tank Pitch
There is no evidence whether the deal was closed but since the show’s debut, the firm has amassed a following of over 24K Instagram followers and generated a lot of talk online.
54 Thrones is now on sale at Nordstrom and Sephora.
54 Thrones Net Worth
Christina appears on Shark Tank Season 13 Episode 4 in search of $250,000 for a 10% stake in her African skin care company. This translates to a $2.5 million valuation.
She accepted an offer from Kevin and Tolia of $250,000 for 17.5% stake thus bringing valuation to be $1,428,571.43.
54 Thrones Competitors
54 Thrones has some competitors in its market space, this include; Nubian Heritage.
54 Thrones FAQS
What is 54 Thrones?
54 Thrones is a skincare line that creates African-themed cosmetic products.
Who is the founder of 54 Thrones?
Christina Tegbe founded the company in 2016.
How much was she seeking in the Shark Tank?
Christina Tegbe was looking for $250,000 investment in exchange of 10% in 54 Thrones.
Did 54 Thrones get a deal from the Shark Tank?
54 Thrones received an investment from Kevin O’Leary and Nirav Tolia.
How much was the deal?
The deal was for $250,000 for a 17.5% stake in 54th Thrones.
What does the name mean?
54 refers to the 54 African countries that have Shea butter. The “Thrones” part comes from the idea of beauty products as beautiful as a throne, which is something amazing and luxurious.
It should also be mentioned that all of this is from Africa as it is called a throne.
Is 54 Thrones still in business?
54 Thrones is still in business, and it is well-known for its African roots.
Its items are available at Nordstrom, Sephora, on its website, and at other retail locations.
What episode was 54 Thrones featured?
54 Thrones was featured on season 13 episode 4 of the show.
When was 54 Thrones aired on Shark Tank?
The episode featuring 54 Thrones was on October 29th, 2021.
Did 54 thrones get a deal on Shark Tank?
Nirav Tolia and Kevin O’Leary Accept $250,000 from 54 Thrones – Business 2 Community.
Is 54 thrones black owned?
Finally, a Black-owned beauty brand founded by a Black woman and using products sourced from Black-owned businesses! 54 Thrones was founded and is led by Christina Funke Tegbe.
The brand exclusively utilizes materials that have been responsibly sourced and cultivated on African soil.
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.
Because their goods are unrefined and free of fillers, the consistency may suffer, but not the quality.
Where is 54 thrones based?
Christiana was inspired by her aunt in Nigeria, who would give her mother shea butter to help with her mastectomy scar.
She began her adventure to Africa after retiring from her corporate position, where she developed the infrastructure for her firm.
When will their products be shipped?
They are a small but powerful crew that works hard to get orders out as quickly as possible. Typically, their purchase will be shipped within 5-7 business days.
How are their products being shipped?
They are not liable for packages marked as delivered by USPS or UPS, or for packages left outside their door, with a front desk, a neighbour, or any other receiving party.
They are also not liable for items sent to erroneous addresses, so please double-check their shipping information.
They will not provide refunds or resend merchandise for deliveries that have been marked as delivered.
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.
Where is 54 Thrones produced?
54 Thrones is an African botanical skincare company whose products are handcrafted in Africa by trained specialists utilizing time-honoured procedures.
Their goods are pure and organic, handcrafted, and the ingredients have been utilized by African families for centuries.
What is the net worth of Christina Tegbe?
Christina Tegbe’s net worth is over $1 million.
