Tipsy Elves is a line of clothing from Shark Tank season 5 episode 12. The company produces and sells festive and humorous clothing, such as Santa suits, elf outfits, and reindeer sweaters.
The company was founded by Evan Mendelsohn and Nick Soman in 2010. Mendelsohn came up with the idea for Tipsy Elves after he was unable to find a Santa suit that fit him properly. Soman is a former investment banker, and the two men used their business knowledge to grow the company rapidly.
Tipsy Elves has been featured on several television shows and in magazines. The company has also received attention for its charitable donations, such as its donation of Christmas sweaters to children in need.
How Did the Shark Tank Pitch Go?
Nick and Evan went on Shark Tank to raise $100,000 in exchange for 5% of the company.
The sweater models showed up wearing a wide variety of sweaters and handed them out to the Sharks. They talked about making over $800,000 in sales in 2012, with over half of that originating from Amazon.
Evan said that he started the company because of his expertise in SEO and the popularity of Christmas sweaters as a search term; Nick quit his corporate job to help. Currently, all their sales are made through their website, but they hope to increase into wholesale soon.
The Sharks doubted if this was the best course of action. When Kevin brought up their valuation, Mark started to wonder what they planned to do to increase it. Mark said he has no problems with it but would need details on how much they’re worth. As expected, Mark left the deal.
Lori concluded that it did not stand out enough and left. Kevin proposed an agreement that $100,000 would be exchanged for a $1 permanent royalty and a $2 royalty till his money is repaid.
Robert was impressed by Nick’s courage in abandoning a $ 175,000-year salary in favor of this enterprise and provided $100,000 in exchange for a 10% ownership in the business.
Daymond mulled over the two offers, and discussion ensued. He had misgivings, so he opted out even though he was enthusiastic about the product and the guys.
Robert displayed incentive to invest in the gentlemen after hearing Kevins’ pitch. Robert was positive about the product’s future success, and Nick and Evan agreed with him.
Nick and Evan left the shark tank with a deal of $100,000 in exchange for 10% ownership from Robert.
Are They Still an Active Company?
Yes, Tipsy Elves is still an active company! They are best known for their line of ugly Christmas sweaters, which have been featured on Shark Tank, The Today Show, and more.
Our Review of Tipsy Elves
Tipsy Elves was one of the most memorable businesses from Shark Tank season 5. The company sells outrageous and unique holiday sweaters, and they caught the eye of the Sharks. But are their products worth the price?
Let’s look at the pros and cons of Tipsy Elves to help you decide.
Pros of Tipsy Elves
- Tipsy Elves sweaters are eye-catching and unique. You’ll stand out from the crowd in one of their sweaters!
- They have a wide variety of designs to choose from, so you’re sure to find one that’s perfect for you.
- Tipsy Elves is a well-established company with a solid online presence. They’ve been featured in major publications like The Huffington Post, Cosmopolitan, and more.
Cons of Tipsy Elves
- Tipsy Elves sweaters are on the pricier side, with some costing upwards of $100.
- Some people may find the designs too “out there” or tacky.
Who Is Tipsy Elves For?
Tipsy Elves specializes in one-of-a-kind, eye-catching designs that are sure to make you stand out from the crowd. From a festive holiday sweater to something more unique and unexpected, they have it all!
Sure, Tipsy Elves may be best known for their outrageous and fun holiday sweaters, but they have something for everyone! Whether you’re looking for the perfect gift for the person who has everything, or you just want to treat yourself to a little something special, Tipsy Elves has you covered.
Are There Any Alternatives?
It’s no secret that Tipsy Elves was one of the most popular businesses on Shark Tank. In fact, they’re so popular that they’ve even inspired a few copycat companies. But are there any good alternatives to Tipsy Elves?
Here are a few companies that offer similar products:
Crazy Shirts
Crazy Shirts is a company that specializes in making wacky and unique shirts. They have a wide variety of designs to choose from, so you’re sure to find something that fits your style.
Ugly Christmas Sweater Party
This company was founded in 2001, making it one of the first businesses to capitalize on the growing trend of ugly Christmas sweaters. Ugly Christmas Sweater Party offers a wide variety of ugly sweaters, as well as other holiday-themed clothing and accessories.
Betabrand
If you are looking for an alternative to Tipsy Elves, one option you might want to consider is Betabrand. They offer a wide variety of holiday-themed clothing, including sweaters, shirts, dresses, and more. And like Tipsy Elves, they have a focus on quality and style.
Happy Socks
Founded in 2008, Happy Socks is a Swedish company that sells colorful and patterned socks for both men and women.
Our Final Thoughts
Tipsy Elves is a fun and festive company that was created with the idea of dressing up for the holidays. The company has been featured on Shark Tank, and they have since seen success with their products.
Their target market is anyone who wants to celebrate Christmas in style, no matter what their budget may be.
They offer high-quality, affordable clothing options for men, women, and children that are sure to put a smile on everyone’s face this holiday season.
If you want to get into the Christmas spirit, or if you need some last-minute gift ideas, be sure to check out Tipsy Elves!
