Lola Ogden pitched her bedding business during
If you’re short on time, here’s a quick overview of what happened to Beddley after
Entrepreneur Lola Ogden appeared on
Shark Tank Beddley Update
- Entrepreneur: Lola Ogden
- Business: East-to-use duvet covers
- Ask: $150,000 for 10% equity
- Result: No deal
- Shark: None
Beddley founder, Lola Ogden, an investment banker originally from Nigeria, hated washing her duvet cover. Getting your duvet to lay flat inside the cover is a pain, and hoping that it lines up is no one’s idea of a good time.
For this reason, she came up with Beddley. Most duvet covers open on one side, making it difficult to get them on.
However, Beddley is open on three sides, and you simply have to lay your duvet inside of it.
The demonstration of how Beddley works got the sharks interested and Lori Greiner confirms that this is an issue. Most people who own a duvet struggle in this area.
Lola sells direct-to-consumer through her online shop. She’s in two Macy pop-up stores so far, and has QVC interested in the product.
She assures the sharks that a demonstration video is available on the website so that consumers know how Beddley works.
The cost to produce the Beddley cover is $57.50, which is on the high end, because it’s made in the US. Lola repeatedly assures that she can get this cost down, and mentions that she sells them for $130 to $140 on average.
However, when she gets to her sales numbers, the sharks actually begin to laugh. She tells them not to judge her on her sales numbers, but they can’t help it.
Year to date, she’s done just $12,000 in sales. The previous year, she achieved $28,000.
Overall, she thinks it’s a marketing problem, but the sharks disagree, and consequently begin to drop out one by on.
Lori says it’s not the product for her, although she likes the quality.
Mark Cuban is not in love with the sales figures and drops out.
Daymond John says that marketing is a black hole for money, and she needs to figure out her sales before he’d even think of investing.
Robert Herjavec praises Lola’s spirit, but says she hasn’t presented a compelling argument for where his money will go.
This leaves Kevin O’Leary, and when prompted, the only thing he can say is “no”. This means that Beddley leaves the tank without a deal.
But how is the company doing now? Keep reading our
Research for our Beddly update revealed that the company is still in business. During the COVID-19 pandemic, Beddley focused all of its energy on making face masks for those battling the disease on the front lines and sales took a big hit.
However, it seems that sales recovered, and our research found that the company now has around $4 million lifetime sales.
At the time of this writing, the company still hasn’t made it onto QVC, although Lola seems to be doing just fine connecting with customers on her website and through social media.
You can purchase an easy duvet cover on the Beddley website. It looks like Lola’s entrepreneurial spirit has really paid off!
If we get any more news on a Beddley update, we will let you know!
You can find the other company updates from Season 11 Episode 18 here:
For even more on companies and products, be sure to stop by our Season 11 products page!
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!