Elisa and Chris Cirri appeared on
Shark Tank Santa’s Enchanted Mailbox Update
- Entrepreneurs: Elisa and Chris Cirri
- Business: Magical mailbox for sending letters to Santa
- Ask: $150,000 for 30% equity
- Result: No deal
- Shark: None
Nothing is more rewarding than seeing a child’s face light up when they get to experience a little bit of magic. Santa’s Enchanted Mailbox was created to create that holiday awe in children of all ages. Simply put the letter in the mailbox, raise the flag, and the letter disappears!
Elisa and Chris had two utility patents on the design, a trademark, and licensed the product out to a large holiday corporation. Unfortunately, that partnership just ended after three years. It left them with high manufacturing costs and fewer sales. Each mailbox cost $17.25 to make and sold for $49.99, but some big-box retailers had to reduce the price so it would sell.
The sharks began weighing in on this complicated product story almost immediately. Despite $1.7 million in sales, Kevin O’Leary dropped out of the deal. It was too seasonal for him. Mark Cuban followed, citing the business’s complicated history.
Daymond John interjected that it was hard to sell at retail. The company just wasn’t to a point where he could invest, so he dropped out. Barbara Corcoran thought that the product was too expensive, and added that they should just do something else before dropping out.
Lori Greiner was the last shark left. She thought the mailbox was cute, but the price and the factory issues were a dealbreaker for her. She dropped out as well, leaving Santa’s Enchanted Mailbox without a deal. How is the company doing now? Keep reading our Santa’s Enchanted Mailbox update to find out.
You can find Santa’s Enchanted Mailbox on their website, Walmart, Bed Bath & Beyond, and certain other retailers. While we don’t have any hard data, we’re sure that Elisa and Chris are doing well, given the popularity of
Make sure to take a look at the other company updates from
For more from