Hanukkah Tree Topper Shark Tank Net Worth 2023
During the pitch on Shark Tank, the company was valued at $333,333. However, after Daymond John made his investment, the company was valued at $142,857.
Despite the lower valuation, the company has continued to operate since the show and may have seen growth in net worth since then.
It’s worth noting that the valuation of a company can change over time based on several factors, including financial performance, market trends, and potential for growth.
While the initial investment by Daymond John may have reduced the company’s valuation, it’s possible that the business has since gained momentum and increased its worth.
In any case, staying in business after appearing on Shark Tank is a significant achievement, as many businesses fail to do so. By continuing to operate, the company has a chance to prove its worth and potentially increase its valuation in the future.
What is Hanukkah Tree Topper? Who is the founder of Hanukkah Tree Topper?
The Hanukkah Tree Topper serves as a replacement for the traditional golden star or angel placed on top of Christmas trees.
It is designed as a holiday decoration in the shape of the Star of David, allowing families who celebrate both Christmas and Hanukkah to display a unifying symbol throughout the holiday season.
Some Jewish families in North America display a Hanukkah bush, which is a real or artificial tree or bush. This can resemble a Christmas tree, but without any Christian-themed ornaments, and is associated with the concept of “Chrismukkah.”
The idea for the Hanukkah Tree Topper and One Life Products, the company that produces it, was founded by Morri Chowaiki and Marina Chowaiki in San Diego, California.
Morri was raised in the Jewish faith and celebrated Hanukkah, while Marina celebrated Christmas. They wanted to create a way to incorporate both traditions into their family’s celebrations.
The Christmas Tree is an important symbol of the Christian holiday, while the Star of David is the primary emblem associated with Hanukkah. By creating the Hanukkah Tree Topper, Morri and Marina sought to bring these two religious festivals together.
Their product quickly became popular among families like theirs, where one partner is Jewish and the other is Christian. The One Life Products serve as a solution for those who wish to teach and celebrate both holidays with their children.
Hanukkah Tree Topper Shark Tank Pitch
Morri and Marina Chowaiki, who are an interfaith couple, presented their Hanukkah Tree Topper on episode 512 of Shark Tank, hoping to secure a strategic partnership with a Shark to help them break into larger retail stores.
Morri introduced their interfaith family and explained that he had been selling the Hanukkah Tree Topper for three years, relying on the Sharks to keep the business afloat. He asked for $50,000 in exchange for a 15% stake in his company, which was valued at $333,333.
He pitched his creation as the ultimate new “Chrishnakkah” ornament and distributed samples to the Sharks, claiming to have sold 12,000 units through his website, 200 Bed Bath and Beyond locations, and an in-flight magazine. The Sharks were impressed by his $150,000 in average annual sales over the past three years.
However, Mr. Wonderful and Lori were skeptical, and they left the deal. Mark and Robert followed suit, leaving Daymond as the only Shark interested in the product. Daymond offered $50,000 for a 35% stake in the business, which Morri accepted after a brief moment of hesitation.
After appearing on Shark Tank, the Hanukkah Tree Topper saw significant holiday sales and secured a significant licensing agreement with Kurtis Adler for manufacturing and distribution.
Morri joined Daymond’s Shark Group as Head of Sales & Retail in 2016, and the company’s annual revenue reached $2 million as of January 2022. Additionally, Morri and Daymond donate to Toys for Tots.
Competitors of Hanukkah Tree Topper
The main competitor of Hanukkah Tree Topper is Christmas Tree Toppers.
Net Worth of Hanukkah Tree Topper
The company valuation was $333,333 during the pitch, after the investment done by Daymond John the company worth $142,857.
Since then the company is still in business and hence the company net worth might have been higher than that of pitch.
Hanukkah Tree Topper Shark Tank Updates
Morri Chowaiki appeared on Shark Tank season 5 episode 12 to pitch his product, the Hanukkah Tree Topper, which is a Christmas decorative item representing Hanukkah. The product was designed to bridge interfaith families together during the holiday season.
Morri and his wife Marina Chowaiki are the owners of One Life Products, which began producing the Hanukkah Tree Topper when they needed an interfaith option for decorating their tree during the holidays.
The company offered two versions of the Hanukkah Tree Topper: a budget version that cost $2 to make and retailed for $20, and a lighted version that cost $9 to make and retailed for $36.
After appearing on Shark Tank, Morri and Daymond John made a deal where Daymond would receive a royalty on every product sold, and Morri would make a donation to Toys for Tots. In 2016, Daymond hired Morri as Head of Sales and Retail for his Shark Group.
As of April 2023, the annual revenue of One Life Products is $2 million, and the estimated net worth of the Hanukkah Tree Topper is around $5 million.
In conclusion, the Hanukkah Tree Topper has experienced tremendous growth and success since appearing on Shark Tank in 2013.
The product has become the number one selling tree top ornament on Amazon and is available in over 200 Bed Bath & Beyond stores. Morri Chowaiki is currently the head of Sales and Retail for Daymond Joy and The Shark Group.
Hanukkah Tree Topper Shark Tank Summary Table:
| TOPIC | SUMMARY |
| Product | Hanukkah Tree Topper, a holiday decoration in the shape of the Star of David, designed to top Christmas trees. |
| Founders | Morri Chowaiki and Marina Chowaiki. |
| Shark Tank Pitch | Valuation of the company during the pitch was $333,333. Daymond John invested $50,000 for a 35% stake in the company. |
| Competitors | Christmas Tree Toppers. |
| Net Worth | The company was valued at $142,857 after the Shark Tank investment. Estimated net worth as of April 2023 is $5 million. |
| Updates | One Life Products, the company behind Hanukkah Tree Topper, has an annual revenue of $2 million. |
Hanukkah Tree Topper FAQs
What Is Hanukkah Tree Topper And How Does It Work?
The Hanukkah Tree Topper is a Christmas tree topper designed to bring Judaism into interfaith homes during the holidays. The product is offered in the form of a Star of David, enabling interfaith families to fuse their holidays and celebrate both Hanukkah and Christmas together.
The Hanukkah Tree Topper is a 9-inch plastic silver tree topper from Kurt Adler. There is also a battery-operated version of the Hanukkah Tree Topper by Kurt Adler.
The product works wonderfully as a Christmas tree topper, making it suitable for the millions of Jewish/Christian families that celebrate both holidays. The Hanukkah Tree Topper is placed on top of the Christmas tree, just like any other tree topper, to add a touch of Hanukkah to the holiday decorations.
Who are the founders of Hanukkah Tree Topper?
Morri Chowaiki and Marina Chowaiki founded One Life Products in San Diego, California. They came up with this concept after marrying and starting a family.
What Was The Outcome Of The Hanukkah Tree Topper Shark Tank Pitch?
Morri Chowaiki appeared on Shark Tank season 5 episode 12 to pitch his product, The Hanukkah Tree Topper, which is a Christmas tree topper designed for Hanukkah celebrations. The product was designed to bring Judaism into interfaith homes during the holidays.
Morri and his wife Marina Chowaiki, who are an interfaith couple, pitched the product to the Sharks with the goal of bringing cultures together during the holidays. Morri asked for $50,000 for 15% equity in his company, One Life Products.
Daymond John invested in the company and offered $50,000 for 35% equity.
After the show, the Hanukkah Tree Topper made huge holiday sales and became a successful business. Daymond John and Morri now get a royalty on every product they sell, and they made a donation to Toys for Tots.
In 2016, Daymond hired Morri as Head of Sales and Retail for his Shark Group. As of April 2023, the company has an annual revenue of $2 million.
Did The Hanukkah Tree Topper Get A Deal On Shark Tank?
Yes, the Hanukkah Tree Topper did get a deal on Shark Tank. Morri Chowaiki pitched the product on season 5 episode 12 and received an investment of $50,000 for 15% equity from Daymond John.
Daymond and Morri now get a royalty on every product they sell, and the company made a donation to Toys for Tots. In 2016, Daymond hired Morri as Head of Sales and Retail for his Shark Group.
The Hanukkah Tree Topper is currently the number one selling tree top ornament on Amazon. The product has been sold in 200 Bed Bath & Beyond stores, and 70% of sales are online. The company has also licensed the Hanukkah Tree Topper to the largest holiday goods importer in the USA.
What Happened To Hanukkah Tree Topper After Its Appearance At The Shark Tank?
After appearing on Shark Tank, the Hanukkah Tree Topper received a deal from Daymond John, who invested $50,000 for 15% of the company. Daymond and Morri now get a royalty on every product they sell, and the company made a donation to Toys for Tots.
In 2016, Daymond hired Morri as Head of Sales and Retail for his Shark Group. The company offered two versions of the Hanukkah Tree Topper, a budget version that cost $2 to make and retailed for $20, and a lighted version that cost $9 to make and retailed for $36.
The product was in 200 Bed Bath & Beyond stores, and 70% of the sales were online, 20% were from an in-store display, and 10% were from a catalog. The Hanukkah Tree Topper is currently the number one selling tree top ornament on Amazon.
Morri licensed the Hanukkah Tree Topper to the largest holiday goods importer in the USA in 2018. As of April 2023, the annual revenue of the company is $2 million.
How much was seeking on Shark Tank?
Morri was seeking for $50,000 for 15% stake of the company.
Is Hanukkah Tree Topper still in business?
Yes, it is still in business as of January 2022.
Where is Hanukkah Tree Topper located?
They are located in San Diego, California.
What was the episode did Hanukkah Tree Topper on Shark Tank?
Hanukkah Tree Topper was aired on Shark Tank episode 512.
Is Hanukkah Tree Topper a Public Company?
No, it is not a public company and it is privately owned.
Is it a growing business?
Yes, the product is in high demand and the company has experienced strong growth in sales.
How many Hanukkah Tree Topper units are sold at a year?
The company sold approximately 12,000 units since its inception in 2014.
What is the profit margin of Hanukkah Tree Topper?
The company generates $150,000 in gross profits per year.
How did the company get started?
One Life Products was founded in San Diego, California by Morri Chowaiki and Marina Chowaiki. Morri was raised Jewish and observed Hanukkah, although his wife Marina observed Christmas.
Is Hanukkah Tree Topper shipping?
Yes, it is shipping to retailers throughout the United States.
Is the product sold in Christmas Tree Stores?
Yes, they are available in Bed Bath & Beyond stores and the company is looking to expand into other major retailers.
How do I pay for Hanukkah Tree Topper?
Customers can pay with a credit card or PayPal.
Any other product of Hanukkah Tree Topper?
They also offer a dreidel stocking holder, dreidel table runner, and Hanukkah menorah plaque.
How do I receive Hanukkah Tree Topper?
The product ships via FedEx or UPS. Customers can expect to receive it in approximately 2-3 weeks after placing your order.
Are there any plans to sell Hanukkah Tree Topper at a discount?
Yes, they are currently negotiating with retailers who might want to offer the product at a discount.
Who is the CEO?
Morri Chowaiki is the current CEO of One Life Products.
What is the net worth of Morri Chowaiki?
Morri Chowaiki has accumulated a net worth of $3 million dollars.
