Love Is Project is a startup in the retail apparel and fashion industry that started in 2014. The founders of the Love Is Project, Chrissie Lam, and Gladys Lam, asked Shark for $250,000 in exchange for 5% equity after joining Shark Tank.
Love Is Project is a handmade beautiful craft product manufacturing company, whose slogan is to spread love.
Chrissie Lam, who is its founder, has a hidden story before it became a startup. When Chrissie left her corporate fashion job and moved to Kenya in 2012, she met with the Massai Tribe Women’s Group.
She was seen making vibrant, high-quality, and gorgeous beaded items. She also makes different types of bracelets and this art of hers is quite Beautiful.
The founder got to see that the whole world is feeling heavy, divided, and discouraged at this time. So the solution to this problem is love, when Chrissie saw one bracelet, she had a small idea to start Love Is Project.
This startup was started only through hand-made bracelets but later on, it started becoming different types of hand-made accessories.
In today’s time, people are not able to be happy, most people believe that money is the biggest reason for not being happy. To some extent, this is true because it is difficult to survive without money, but it is not a reason for not being happy.
Man himself is the cause of suffering because he always thinks negatively and he keeps Comparing himself with the life of others.
He keeps giving reasons for not being happy with the dust or others. But the truth is that humans never try how to be happy. Many great people have said that love is the greatest happiness.
Love Is Project is a startup that works to spread love through its handmade products. If no one loves you then you start loving yourself.
What Is Love Is Project?
Love Is Project is a startup selling Handmade Old Design Bracelet started in 2014. This company sells handmade products like bracelets from the culture of different country tribes all over the world on its website.
The handmade bracelets that are made of them are mostly made by women artists from all over the world.
Sometimes an artist does not find the right platform to showcase his work in which she can show her skills. It is a Love is Project for her talented artist who works to sell handmade products made by her.
It sells various types of bracelets in different designs as well as many new accessories including Bags, Face Masks, Necklaces, Charms & Pendants, Kid’s Collections, Books and Card, gift Cards, Digital products, and Dog Collars.
Love is project works mostly with Kenya, Indonesia, and Ecuadorian women to make this product. This company had sales of $ 4 million in 2017 before moving to SharkTank.
Love Is Project Shark Tank Update
|Company Name||Love Is Project|
|Founder||Chrissie Lam and Gladys Lam|
|Product||spreading love and connection through ethically hand-crafted bracelets|
|Asked For||$250,000 for 5% equity|
|Final Deal||No Offer|
|Episode (Shark Tank USA)||Season 12 Episode 10|
|Air Date||January 15, 2021|
|Business Status||In Business|
|Net Worth||$5 Million *estimated|
See This Slice of Sauce Shark Tank Update
Love Is Project Contact Details
|Place||San Francisco, California, United States|
Who Is The Founder Of Love Is Project? – Chrissie Lam and Gladys Lam Shark Tank
Chrissie Lam is the Founder and CEO of Love Is Project Company and Gladys Lam is its COO/CFO. Chrissie started this company in 2014. Chrissie started this startup to spread love messages.
Talking about Chrissie Lam’s background, she studied fashion and design with a BFA from Parsons School of Design.
She worked as an Associate Concept Designer for Women & Girls at Abercrombie & Fitch for over 3 years.
After staying in this company for 3 years, she learned different skills and also worked in it, it includes Art, Advertising, Copywriting, Storytelling, and Creative Strategy.
She was a Senior Concept Designer for more than 9 years at American Eagle Outfitters in New York City. After doing different corporate jobs, he got a very good knowledge of digital marketing.
In 2012, she left his job and came in contact with artisans from different countries, she liked the artist’s culture and her design.
Chrissie was inspired by seeing the arts of Maasai women from Kenya. She designed a red beaded bracelet with the word love.
Gladys Lam is a partner of this company, in 2017 he was associated with this company. He has studied accounting with a BS at Golden Gate University.
Gladys mother is Chrissie she helps in this love project as a mentor and friend. When Chrissie travels, she works for Artisan Groups, designing new products, and assembling an ethical supply chain.
Gladys then contributes to production, marketing, and customer service to keep the company running. She works in different ways whether it is handling social media or listing products etc.
Love Is Project Before Shark Tank
Love Is Project has started to spread harmony and love all over the world, says the founder.
Love Is project it is available in 2022 in 10 country cultures all over the world including Kenya, Indonesia, Ecuador, India, Guatemala, Colombia, Mexico, Philippines, Bhutan, and Vietnam.
Each of their handcraft bracelets is made using traditional techniques and materials from the same people.
In this, the symbol of every traditional culture is seen. Love Is project has a wide variety of bracelet collections including Heart, Rainbow, Seed Bead, and Zodiac.
Bangles and cuffs come in gold, silver, wood, horn, and tortoise. Apart from this, it also provides custom bracelets and jewelers.
Now more than 2000 women have been associated with them for handcrafted product design. This company is providing job opportunities for women artists, through which women can get financial freedom.
In 2018, she donated 1,600 love bracelets to Marjorie Stoneman Douglas High School. When Covid19 Pandemic came in 2020, she launched the Love Grows program to give hope to the people.
In 2021, this company launched its quarterly membership, in which it was able to provide love bracelets at a low price.
Love is Project has been donating to spread love in different charity programs.
Did Love Is Project Get a Deal on Shark Tank?
Chrissie Lam and her mom Gladys, the founder of Love Is Project, gave her presentation very well on Shark Tank. The two demanded $250,000 from the sharks in exchange for 5% equity in their company. After this demand, the valuation of this company becomes $5 million.
For 2021, Chrissie said that he would sell $2 million. This business is not only for giving business to women, it makes a good profit, their profit margin is 70% its EBITDA is 30%.
Their Hero Products bracelet costs $3 to $5 to make and is sold for between $18 to $50 in 2022. It is sold on their website in online mode.
Apart from this, this product has also been made available in 350 retail stores in 44 states in the United State and 22 countries.
Founder Chrissie and her mother Gladys both have digital marketing skills. In the first year, she spent 80% of her revenue on Facebook advertising. In 2019 she did 50% and after that, she moved to 30%.
The cost of the acquisition is $25 per sale and their average order is $75. Because people like to buy with gifts.
There was a sale of $5,000 to give a gift to your guest at a wedding party, it has different types of messages.
In 2020, this company had sold millions of dollars. In 2020, her Facebook ads were very expensive. So she could not make much money, In this, she lost $80,000.
This business also has debts. She has taken a small business loan of $200,000 and her EIDL is $382,000. So now her company has a debt of $582,000.
Barbara Corcoran says it’s not a business, it’s a mission. She believes that it cannot be trusted to make profits in the business. She thinks that they have come to Shark Tank for a charity donation.
Kevin O’Leary said that he is confused about whether it is a business or a mission. Kevin said that if this business is not right for him, then he is out of it.
Lori Greiner said that she supports this mission but there is too much competition in it so she cannot invest in it.
Mark Cuban is not able to understand the background of this business, so because of this, he is out of the business deal.
Alex Rodriguez said that it supports the mission of this business but it cannot invest.
Love Is Project did not get any kind of deal in Shark Tank.
What Happened To Love Is Project After Shark Tank?
Love Is Project did not get a deal in Shark Tank because the shark believed that this is not an investing business, it is a mission.
sharks not investing in this business, people like them a lot. People have bought this product so that they can get correct information about it.
This bracelet is being used in different types of music festivals, and fashion. Many big stars have used this product including Gigi Hadid and the Jenner sisters.
In 2021, this company made sales of $3 million, which is much more than last year.
Chrissie is currently focusing on the supply and marketing of this business And is also introducing this product in different types of fashion events.
This referral program is also taken, whoever refers his friend will get his commission.
Love Is Project was earlier sold only on their website and few retail stores but now it is also available on online marketplaces like Amazon.
This is July 2022 with 700+ retail stores in the United States and 22 other countries.
Where Can Buy Love Is Project?
You have a lot of platforms offline and online to buy the handcrafted bracelet of this project. It has coffee retail stores in different states of America, apart from this it is also selling through its website. The most trusted platform is Amazon, if you want, you can buy this product through Amazon.
This bracelet is priced according to its design and will cost from $24 to $30 on Amazon.
What Is Love Is Project Net Worth?
The current net worth of Love Is Project is estimated at $5 million. The company generated sales of $3 million in 2021, although it already had a loan of $582,000. In the coming time, it can grow its sales a lot.
Is Love Is Project Still In Business?
Yes, Love Is Project is still going on even though this business didn’t get a deal in Shark Tank. There is a lot of debt in this business, due to which sharks started thinking twice before investing in it.
Right now this “Limited Time 10% Off” sale is going on, if you want to buy it then you can visit their website.
2,000+ artisans from different countries are associated with them and its founder Chrissie has brought this opportunity to give jobs to women.
Has been featured on many news magazines and channels including discovery plus, CNN, Today, NBC, VOGUE and etc.
Content Photo Credit: Amazon.com & loveisproject.com