54 Thrones is an African botanical skincare line that offers a variety of products made from botanical ingredients.
The brand uses natural and traditional methods to create its beauty products, ensuring minimal waste and avoiding side effects on the skin.
The founder stated that the name “54 Thrones” represents the 54 countries of Africa. To manufacture its products, the company imports natural ingredients from various African nations, including blue tansy flower, shea butter, marula oil, jojoba fruit, and kigelia africana extract, among others.
54 Thrones sells a range of natural skincare products for both the body and face, with prices ranging from $16 to $120. The products are available on the company’s website, as well as in Sephora stores and select Neiman Marcus locations.
| Company Name | 54 Thrones |
| Founder | Christina Funke Tegbe |
| Founded | 2016 |
| Product | elevate traditional African Beauty Rituals |
| Asked For | $250k for a 10% equity |
| Final Deal | $250k for a 17.5% equity |
| Shark | Nirav Tolia and Kevin O’Leary |
| Episode (Shark Tank USA) | S13 E4 |
| Air Date | Oct 29, 2021 |
| Business Status | In Business |
| Website | Visit Website |
| Headquarters | Houston, Texas, United States |
| Lifetime Worth (Sales) | $2.5M *estimated |
| Go To Amazon | Buy Now |
| Watch On | Amazon Prime |
Another Shark Tank Pitch
Who Is The Founder Of 54 Thrones?
The founder and CEO of 54 Thrones Beauty Company is Christina Funke Tegbe, an African American originally from Nigeria.
In 2019, she started a business called “AvailVA,” which she closed after two years. Prior to that, in 2015, she founded “COT Industries,” a company that provided services to local businesses.
Christina studied Business Law and Management at Tulane University and completed her Master of Business Administration at the University of Houston-Clear Lake.
After finishing her studies, she worked as a Senior Consultant at Cumberland Consulting Group for three years.
From 2015 to 2021, she launched multiple businesses, but she is currently focusing on her 2016 venture, 54 Thrones.
How Was The Shark Tank Pitch Of 54 Thrones?
Christina Funke Tegbe entered Shark Tank with her company, 54 Thrones, seeking $250,000 for a 10% equity stake. She shared her product and business story with the sharks.
A few years ago, Christina was working as a consultant but left to immerse herself in learning about her language and history. With $401,000 in cash, she traveled to Africa, where she observed hardworking women producing Argan oil and Shea butter.
This experience introduced her to African beauty secrets, inspiring her to start her own brand and collaborate with local artisans. In 2020, her sales reached $500,000, with only $8,000 spent on marketing, largely driven by word-of-mouth referrals.
Her products were featured in “Oprah’s Favorite Things,” which significantly boosted sales, although their revenue was $300,000 before this exposure. Christina projected her sales would reach $1 million in 2021 and planned to launch her products in Sephora stores in the United States and Canada. She also aimed to expand her product line to Nordstrom for the holiday season.
54 Thrones operates a direct-to-consumer (DTC) model through its website, with 75% of sales last year coming from DTC. However, this year, the ratio shifted to 25% DTC and 75% retail sales.
The production cost of her butter set is $12, and it retails for $80, yielding a profit margin of around 70%.
Robert Herjavec appreciated the pitch but opted out, stating he wasn’t passionate about the business. Mark Cuban praised Christina, calling her a “rock star,” but he didn’t fully understand the business model, leading him to withdraw as well.
Lori Greiner noted her experience with many young women in the cosmetic and skincare industry, explaining that Christina’s brand was too competitive with her existing products, so she also opted out.
Nirav Tolia mentioned that his wife had worked at Neutrogena for nearly eight years, giving him some skincare knowledge. He offered to provide half the funding if another shark wanted to join him.
Kevin O’Leary and Nirav countered with an offer of $250,000 for 20% equity. Christina countered with a request for 15% equity. After discussions among Nirav, Kevin, and Christina, she adjusted her offer to $250,000 for 10% equity.
Kevin declined this deal, prompting Christina to counter again at $250,000 for 17% equity. However, Kevin insisted it was closer to 20% equity. Eventually, Kevin and Nirav agreed to invest $250,000 for a combined 17.5% equity stake (10% for Kevin and 7.5% for Nirav). Christina accepted this offer.
Finalize: Nirav Tolia and Kevin O’Leary Invest $250K in ‘54 Thrones’ for 17.5% equity (7.5%/10%).
What Happened To 54 Thrones After Shark Tank?
Christina gave an outstanding presentation on Shark Tank, impressing all the sharks, leading both Nirav and Kevin to invest in her African beauty brand.
Following the episode’s airing, many women likely considered purchasing and using her products. The company’s website experienced a surge in traffic, receiving over 100,000 visitors per month after the episode aired.
In January 2022, 54 Thrones was featured on the Today show. By mid-2022, the beauty products became available at 11 CredoBeauty locations across the United States.
By December 2022, the products were stocked in more than 37 retail stores nationwide, and the company continued to ship products through its website.
In November 2022, Christina shared on her LinkedIn account that she discussed her business on QVC Studio.
After securing a deal on Shark Tank, 54 Thrones likely generated significant sales, though specific figures have not been disclosed. Christina also attended the 18th Columbia African Economic Conference in April 2022, where she was a speaker.
In her Shark Tank pitch, Christina projected sales of up to $1 million for 2021, and she is currently focused on expanding her business across the United States.
We will continue to follow Christina Funke Tegbe and her company for further updates.
What Is 54 Thrones Net Worth?
The company’s sales report has not been disclosed yet, but the founder stated that she projected $1 million in annual sales for 2021. Currently, the product is available in over 37 retail stores across the United States.
Considering these factors, we estimate that 54 Thrones could be valued at approximately $850,000. This valuation is notably lower than the $1.4 million deal the company secured on Shark Tank.
Yes, 54 Thrones is still in business as of December 2022.
