Ornament Anchor Shark Tank Net Worth
Ornament Anchor is a product that firmly secures ornaments to the Christmas tree.
The worth of Ornament Anchor Company is $1.8 million, and its founder Ayaan Naqvi has a net worth of $800,000 as of 2022. However, the company did not get investment from any shark despite its good sales performance.
The Naqvi family appeared on Shark Tank in 2021 and asked for $90,000 for 5% equity in their company. They showcased their bundles of Ornament Anchors along with the prices.
A bunch of 24 ornament anchors costs $20, while a pack of 48 anchors costs $36. The premium box of 96 anchors costs $68 with free shipping charges. In June 2021, they did $80,000 in sales, and lifetime sales are $500,000 to date (summer, 2021).
In December 2022, annual revenue was $1 million. Ornament Anchor made $500,000 in sales over an eighteen-month period.
Ornament Anchor is available in gold, green, red, silver, and… It can be hung on a tree branch without the constant worry of the decoration falling over.
The kids are full of poise but charging $24.95 for those thingies is going too far. Should’ve priced these at $9.99.
What is Ornament Anchor and Who is the founder of Ornament Anchor?
Ornament Anchor is a device designed to keep Christmas decorations securely attached to tree branches or other surfaces. It consists of a simple thread with a toggle device that loops through the ornament’s attachment location.
The creator of Ornament Anchor is Ayaan Naqvi, an eighth-grade student from Connecticut. He developed the product with the help of his brother Mickey, sister Sofia, and parents Amanda and Hamza. The idea came about after one of their favorite ornaments fell off the Christmas tree and broke.
After receiving positive feedback at a school fair, they decided to turn their idea into a business. They patented the device, built their website, and made $350,000 in their first year of operation in 2020. They even appeared on QVC and Good Morning America, selling out both appearances.
Ornament Anchor is not just a successful business venture, but it also supports a good cause. The company contributes 10% of its income to no-kill animal sanctuaries, totaling around $20,000 in 2020.
Currently, Ornament Anchor is expanding its distribution to retailers such as Target, Nordstrom, Dillard’s, Safeway, and Bed Bath and Beyond.
Customers can purchase packs of 24, 48, or 96 anchors in green, red, white, silver, or gold, costing $20.00, $35.99, and $67.99, respectively.
Ornament Anchor Shark Tank pitch?
In a Shark Tank episode aired in 2021, Mik’al and Ayaan Naqvi appeared seeking investment for their product Ornament Anchor, which securely attaches ornaments to Christmas trees.
This was their second appearance on the show, having pitched KudoBanz unsuccessfully in the past with their parents and sister.
This time, only the two boys were on the show, seeking a $90,000 investment for a 5% stake in their company, which was valued at $1.8 million.
During their pitch, they explained how they had created the product and how it worked. Each anchor was capable of supporting up to 10 pounds, and the Sharks were impressed when they tested it by tipping over the Christmas tree on stage without a single ornament coming off.
The Sharks were interested in the product, but they were put off by the high valuation and the seasonal nature of the business. While the Sharks were impressed by the boys’ sales figures and profit margins, they ultimately decided not to invest.
After the show aired, Daniel Lubetzky, the founder of KIND Snacks, tweeted that the boys’ profit margins were excessive.
Despite not securing investment in Shark Tank, Ornament Anchor is still in operation and has generated $500,000 in lifetime revenue as of January 2022, with $80,000 in annual revenue in 2021.
Competitors of Ornament Anchor
There are products on the market with similar functionality, these are; Christmas Tree Hang-It Tool and Wrap-and-Stick Ornament Hanger.
Net Worth of Ornament Anchor
The company valuation was $1.8 million during and after the pitch. As of January 2022, the company is still in business and its net worth might be higher than the pitch valuation.
Ornament Anchor Shark Tank Updates
Ornament Anchor is a product that helps secure ornaments to a Christmas tree to prevent them from falling and breaking. Its founders, Ayaan, and Mik’al Naqvi appeared on Shark Tank in 2019 seeking investment for their product but did not receive a deal from any of the Sharks.
Despite this, Ornament Anchor has been successful in generating sales, with a worth of $1.8 million as of 2022. The product is available in five colors: green, red, white, gold, and silver.
Ornament Anchor not only offers a successful business venture but also supports a good cause. The company contributes 10% of its income to no-kill animal sanctuaries, totaling around $20,000 in 2020.
The hangers are still available for purchase on various platforms such as Target, Bed Bath & Beyond, and Amazon, and the company is expanding its distribution to other retailers like Nordstrom, Dillard’s, and Safeway.
While Ornament Anchor did not secure a deal on Shark Tank, the product has been successful in generating sales and expanding its distribution to other retailers. The company is worth $1.8 million as of 2022, and its founder, Ayaan Naqvi, has a net worth of $800,000.
Ornament Anchor is not just a successful business venture, but it also supports a good cause by contributing 10% of its income to no-kill animal sanctuaries.
What Happened to Ornament Anchors After Shark Tank?
Ornament Anchor is a product designed to securely hold ornaments on a Christmas tree. The Naqvi brothers appeared on Shark Tank twice, first with their company KudoBandz in season 10 and then with Ornament Anchor in season 13.
During their second appearance, they asked for a $90,000 investment for 5% equity, but they did not secure a deal. Despite this setback, Ornament Anchor is still in business and has generated $500,000 in lifetime revenue as of January 2022, with $80,000 in annual revenue.
The product is still available for purchase on various platforms, including Amazon, Target, Bed Bath & Beyond, Nordstrom, Dillards, and Safeway.
Ornament Anchor is offered in five different colors: green, red, white, gold, and silver. The company donates 10% of its proceeds to no-kill animal shelters worldwide. In 2021, they donated $20,000 to North Shore Animal League America.
The net worth of Ornament Anchor Company is $1.8 million, and its founder Ayaan Naqvi has a net worth of $800,000 as of 2022.
What Is The Current Net Worth Of Ornament Anchor?
Ornament Anchor’s net worth is $1.8 million as of 2022, and its founder Ayaan Naqvi has a net worth of $800,000. The company was valued at the same amount during its appearance on Shark Tank in 2021.
Ornament Anchor’s sales have been strong, and the company has expanded its distribution to several retailers including Target, Nordstrom, Dillard’s, Safeway, and Bed Bath and Beyond. The company’s hangers are available for purchase on multiple platforms.
Ornament Anchor is a seasonal product and is not sold throughout the year. The company donates 10% of its income, totaling around $20,000 in 2020, to no-kill animal sanctuaries. Ornament Anchor is headquartered in Shelton, Connecticut, and has a staff of four.
What Stores Sell Ornament Anchors?
Ornament Anchor is available for purchase at several stores, including Lowe’s, Walmart, Bed Bath & Beyond, and Amazon. Both Lowe’s and Walmart offer Ornament Anchors for purchase online.
Bed Bath & Beyond sells a set of 24 identical plastic and nylon anchors designed to keep ornaments from falling. Amazon offers heavy-duty Ornament Anchor hooks that can hold up to 10 pounds of weight.
Customers can also purchase Ornament Anchor on the product’s own website in five different colors: green, red, white, gold, and silver. Furthermore, every purchase made on the Ornament Anchor website helps a pet in need, as the company has launched several programs to help pets find loving homes.
What Is The Current Net Worth Of Ornament Anchor?
Ornament Anchor is a product that helps secure Christmas ornaments to a tree. The company appeared on Shark Tank in November 2021 with a worth of $1.8 million but didn’t secure any investment despite its good sales performance.
Ornament Anchor’s founder, Ayaan Naqvi, has a net worth of $800,000 as of 2022. The product is available in gold, green, red, silver, and white, and has a B2C profit margin of 94% and a B2B profit margin of 70%.
Ornament Anchor contributes 10% of its income to no-kill animal sanctuaries, with a total of around $20,000 in 2020. The company’s annual revenue was $1 million in December 2022, and it made $500,000 in sales over an eighteen-month period.
Ornament Anchor is expanding its distribution to various retailers, including Target, Nordstrom, Dillard’s, Safeway, and Bed Bath and Beyond. No information about the company’s competitors is mentioned in the text.
Where Can I Buy Ornament Anchor?
Ornament Anchors can be purchased from several online retailers such as Amazon, Walmart, and Lowe’s. Ornament Anchor comes in five colors: green, red, white, gold, and silver. The product can hold up to 10 pounds of weight and fits all shapes and sizes of ornaments.
Ornament Anchor is also available on Etsy, where customers can find unique and custom-made anchor ornaments.
Customers can purchase Ornament Anchor from Amazon, where the product is described as a premium quality hook that keeps favorite ornaments secure and in place with an adjustable fastener.
Walmart offers Ornament Anchors for purchase online, and customers can also find other Christmas decorations on the website. Lowe’s also sells Ornament Anchors online, along with other holiday decorations.
Customers can also purchase Ornament Anchor directly from the product’s website, where they can choose from the five available colors and learn more about the company’s mission to help pets in need.
What Is The Story Behind The Invention Of the Ornament Anchor?
Ornament Anchor is a product that helps secure Christmas ornaments and prevents them from falling off the tree or any surface from where ornaments are hanging. The idea for Ornament Anchor came from a problem the Naqvi family had with their own ornaments.
One day, one of their extra special ornaments fell off their tree and broke. They were really sad because it had special meaning to their family and was irreplaceable.
Ayaan Naqvi, who was in fourth grade at the time, thought that there had to be a better way to keep their ornaments safe on trees. That’s when Ornament Anchor was born.
Ayaan, along with his brother Mickey and their mother Amanda, began researching different materials and building the initial prototypes.
The Ornament Anchor’s loop and pull system secure ornaments safely in place, in contrast to traditional wire ornament hangers and ribbons that hook or drape over a branch.
Equipped with a poster board describing his product, Ayaan presented the Ornament Anchor to his entire school and the response was overwhelming.
Everyone was swarming his booth and saying, ‘Oh my gosh, this is an amazing invention,’ and they wanted to know where they could buy it.
With the help of his entrepreneur parents, Ayaan and Mickey succeeded in creating Ornament Anchor. However, it was originally made for his school’s invention convention where he set up a booth displaying the product.
Ornament Anchor was later patented, and the brothers took a hands-on approach to the process. The Naqvi brothers appeared on Shark Tank twice, pitching their product to the Sharks.
They have since expanded their business, getting into Target, Nordstrom, Dillards, Safeway, and Bed Bath and Beyond.
Ornament Anchor Shark Tank summary Table:
|Ornament Anchor Product
|A device that keeps Christmas ornaments secured
|Ornament Anchor Founder
|Ornament Anchor Pitch
|They appeared on Shark Tank in 2021, seeking $90,000 for 5% equity
|Net Worth of the Company
|$1.8 million (pitch valuation)
|Net Worth of Founder
|$800,000 (as of 2022)
|$80,000 in sales in June 2021, $500,000 lifetime sales as of summer 2021, $1 million annual revenue as of December 2022
|Ornament Anchor Price
|24-pack: $20, 48-pack: $36, 96-pack: $68 (with free shipping)
|Christmas Tree Hang-It Tool and Wrap-and-Stick Ornament Hanger
|Ornament Anchor Updates
|Available on various platforms such as Target, Bed Bath & Beyond, Amazon, etc. and still expanding its distribution to other retailers like Nordstrom, Dillard’s, and Safeway
|Ornament Anchor Social Cause
|10% of income goes to no-kill animal sanctuaries, totaling around $20,000 in 2020
Top of Form
What is Ornament Anchor?
Ornament Anchor is a simple device that adheres to the Christmas tree and holds up to 10 pounds of ornament securely.
Who is the founder?
Ayaan Naqvi, an 8-year-old child was the founder of Ornament Anchor.
How much were they seeking on Shark Tank?
They were seeking $90,000 for 5% stake in the company.
Did they have the deal?
No, the Shark Tank investors did not offer a deal to Ornament Anchor.
Is Ornament Anchor still in business?
Yes, Ornament Anchor is still in business.
Where is Ornament Anchor located?
Ornament Anchor is located in Milford, Connecticut.
How can I contact Ornament Anchor?
Customers can contact Ornament Anchor at their website at https://www.ornamentanchor.com/
What was the cost of the Ornament Anchor?
Ornament Anchor pricing is $24.95 for the anchor.
How much does the factory produce?
The Ornament Anchor factory produces about 250 anchors per day, which is about 25,000 anchors per month.
How many sales did Ornament Anchor have in its history?
Ornament Anchor began operations in January 2021 and has been selling since then. They reported annual sales of $500,000 as lifetime sales.
How many different colors are available?
There are four different colors available: green, red, white, and silver.
Does Ornament Anchor shipping?
Ornament Anchor shipping is free.
What episode was Ornament Anchor aired?
The Ornament Anchor episode was aired on Season 13 Episode 8.
How does Ornament Anchor work?
Ornament Anchor works by hanging the anchors on the tree. They are easily attached to a Christmas tree.
How long does Ornament Anchor last?
Ornament Anchor can last for the life of a Christmas tree. When the Christmas tree is taken down, the anchors are easy to detach.
How long does it take to deliver orders?
Ornament anchor allows for cash-on-delivery delivery through US Mail. Orders can be delivered in 2 days since they are shipped from their Milford, Connecticut factory. (Ornament Anchor is not a local pickup store.
How many seconds can a person hold 10 pounds?
A person who has arms shorter than 5 feet can carry 10 pounds by holding it in both hands.
Does Ornament Anchor use any special products?
Ornament Anchor uses screws and the anchors are made of plastic.
Who is the CEO?
The CEO of Ornament Anchor as of January 2022 is Ayaan Naqvi.
What is the net worth of Ayaan Naqvi?
Ayaan Naqvi’s net worth is not available as of January 2022.