Tristen Amal Ikaikamaikai’ikaneokalani Persons, also known as Tristen Ikaika, stole a spoon from his mom’s kitchen drawer and created a ring that led him to a money-making business.
When he was 12 years old, Tristen Ikaika saw a family friend wearing a spoon ring. He asked his dad to recreate it for him, and they stole a spoon from his mom’s kitchen drawer and molded it into a ring.
In 2017, Tristan started traveling the world and uploaded pictures of his rings on social media. That is when people started asking around and demanded to get their hands on the same designs as Tristan’s.
What Do They Make?
Tristen travels all around the world, collecting inspiration and making customized sets of rings that reflect his own experiences.
Tristen Ikaika has made use of the powerful tools of social media and branding and the unique interests of Gen Z to make a fire-catching brand out of his name.
What Makes Them Unique?
He drops his jewelry collection once a month, and the whole collection sells out in minutes. His online rings collection has created an internet frenzy, and people rush to get their hands on his rings before they run out again.
Are They Still an Active Company?
Tristen Ikaika has more than 140K followers on Instagram, and the website is running successfully. He has introduced his core collection on the website, and a lot of items from that are already sold out.
How Did the Shark Tank Pitch Go?
Tristen Ikaika appeared on Shark Tank, seeking $250,000 in exchange for 5% of his business.
He described the hype around his brand and how his brand is a new vogue centered on Gen Z. He presented the Sharks with their customized press boxes, and the Sharks were impressed with his presentation style and the designs of the rings.
Tristan explained how he went to a thrift store and bought spoons worth 25 cents, made rings out of them, and sold over $4000 worth of his rings in just one night. However, he knew that creating rings out of spoons by hand wasn’t a sustainable business model, so he started working with a supply chain company to improve his manufacturing.
He provides the designs, and then they are manufactured into finished rings.
Lori inquired about his overall sales to date, and Tristan responded that the figure had gone up to $2.1 million. From year to date, his sales were about $575,000.
Mark asked him about his product drop frequency, and Tristan replied that he drops his collection once a month and that he never sells outside of his product drops.
Mark also wanted to know about his sales in the last drop. Tristan said that he sold 3200 units and made about $155,000 in revenue from that.
Upon inquiring, he told Barbara that his last collection sold out in just 24 hours.
Kevin commented that Tristan was running the business single-handedly, and if he were to make an investment and Tristan got “run over by a bus,” what would happen in that case? Tristan honestly replied that Kevin would simply lose all his money.
Tristen believed in his capability and resources to run his business. Mark chimed in and said that collection drops could not be done very frequently as it defeats its whole purpose of being spontaneous and limited-edition. So how will Tristan grow and scale his company?
Tristen was planning to introduce a core collection, which would be a great way to make money in between, but at the same time, wouldn’t take the hype away from his collection drops.
Lori thought that his business model was great and a perfect career for Tristen, but it wasn’t investable for her, and hence she was going out.
Tristan replied that he wanted to take his business to its maximum potential, and Daymond agreed that it held a very emotional connection to Tristan. However, if he made an offer, that would take away a significant portion of his company. Tristan was open to negotiations, but Daymond said that he knew the proper valuation of his offer and didn’t want to insult Tristan’s company. He went out as well.
Tristan kept pitching his company and told the Sharks that he made $720,000 in the previous year due to his sales, and the profit was close to 60%.
Kevin was intrigued by the potential he saw in Tristan and wanted to make an offer, but one that would take into consideration the risk involved with Tristan’s business. Kevin had a YouTube channel, and he could convert a percentage of his followers into customers for Tristan’s business.
Kevin offered him the $250K for 50% stakes. Tristan would have to buy the key-man insurance. Kevin dealt with a lot of businesses that were synergistic to the Tristen Ikaika company and thought that his offer was very creative.
Mark thought that fashion was a “talent-driven” business that required a creative eye and Tristan was a perfect candidate, but he still didn’t understand how Tristan would scale it up to make it into a 5 or 10 million company.
Tristan explained that he was planning to expand his business by introducing more categories of products besides rings, and that would help the business to expand and grow. Tristan was considering countering Kevin’s offer, but Barbara jumped in and offered $250K for 20% equity.
Kevin immediately came down to 15%. After a brief hesitation, Tristan accepted Kevin’s offer.
Our Review of Tristen Ikaika
Each drop by Tristen Ikaika introduces even more unique designs than the previous ones. People love their rings and desperately wait for new collections to make an appearance on their website. It is quite evident why people love Tristen Ikaika so much, as the ring’s designs cater to the distinctive interests and preferences of Gen Z.
Pros of Tristen Ikaika
- Amazing customer following
- Unique limited-edition ring designs
- Awesome references to the interests of its customers, like WILLIAM SNAKESPEAR rings and ITS JUST A PHASE designs.
Cons of Tristen Ikaika
- Tristen Ikaika offers some really expensive rings.
Who Is Tristen Ikaika For?
Like Tristan mentioned on Shark Tank, Tristen Ikaika caters to the young generation who wants their jewellery with unique designs and hints of iconic references.
Are There Any Alternatives?
- Kendra Scott
- Mimi So
- Missoma London
Our Final Thoughts:
Kevin and Tristan would make an excellent pair of mentor and apprentice, as Kevin took a great admiration for the young entrepreneur and wants to help him scale his business to the next level.