If you’ve ever struggled to get your duvet into your duvet cover, you understand the problem that Beddley is attempting to solve. Usually, this domestic ritual is a struggle. Beddley’s duvet covers want to make it easier than ever. Will the sharks zip into this Season 11 deal? Read our Beddley update to find out!
Shark Tank Beddley Update
- Entrepreneur: Lola Ogden
- Business: East-to-use duvet covers
- Ask: $150,000 for 10% equity
- Result: No deal
- Shark: None
Lola Ogden, an investment banker originally from Nigeria, hated washing the duvet cover. Getting your duvet to lay flat inside the cover is 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. 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. 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. This costs a lot 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. She thinks it’s a marketing problem, but the sharks disagree.
The sharks drop out one by one. Lori Greiner says it’s not the product for her, even though she thinks it’s a quality product. Mark Cuban is not in love with the sales figures. 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. Mark chimes in that many new businesses think that marketing will solve their problems, but it usually doesn’t.
This leaves Kevin, 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
During the COVID-19 pandemic, Beddley focused all of its energy on making face masks for those battling the disease on the front lines. Sales dropped and the stock was almost nonexistent. But that was 2020. In 2021, Beddley has still not made it onto QVC. However, research for our Beddley update turned up a $4 million lifetime sales report for the company. You can purchase an easy duvet cover on the Beddley website. It looks like her entrepreneurial spirit paid off!
You can find the other company updates from Season 11 Episode 18 here:
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