It’s far too easy for ornaments to fall off of your tree. Using traditional hooks and hangers can result in broken ornaments and lost memories. The Naqvi family appeared on
Shark Tank Ornament Anchor Update
- Entrepreneur: Sofia, Amanda, Ayaan, Hamza, and Mika’il Naqvi
- Business: Secure ornament hangers
- Ask: $90,000 for 5% equity
- Result: No deal
- Shark: None
The Naqvi family was familiar with
In 18 months, Ornament Anchor made $500,000 in sales — including some sales in June, which was remarkable for a Christmas product. A bag of 24 hangers retailed for $24.99 with 94% profit margins for the family. They were in Target and Nordstrom at the time the episode aired but were securing other POs as well.
Before long, the sharks weighed in on what they thought. Considering that they’d been there before, Mark Cuban thought they were in the business of getting on TV. There were too many moving parts for them, and they had too many businesses. He dropped out.
Kevin O’Leary thought the product was extremely seasonal. He didn’t want to invest in a seasonal product, so he went out. Daymond John followed, stating that the product was not for him.
The family impressed Lori Greiner. However, it wasn’t a big enough product with a broad enough appeal for her to invest, so she dropped out. This left Barbara Corcoran. Barbara stated that the product was too overpriced for her, and she was concerned that they were hopping from business to business. She dropped out, too.
Ornament Anchors left the tank without a deal. But how is the business doing today? Keep reading our Ornament Anchor update to find out.
In our Ornament Anchor update research, we found that the hangers are still in Target, Bed, Bath, & Beyond, and Amazon. The hangers are featured in a lot of publications as a popular solution, too. However, we were unable to determine if sales have increased. Though, we’re sure that Ornament Anchor has had a successful Christmas season after appearing on
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