Ornament Anchors is a business aiming to revolutionize the way ornaments are hung on Christmas trees. Their innovative hooks ensure that ornaments are securely and safely displayed.
These hooks are versatile and suitable for various occasions, including Christmas, weddings, and birthdays. They come in different quantities (24, 48, and 96) and colors, including green, red, and gold.
Prices for the hooks range from $20 to $75, and the product is available for purchase on Amazon and the company’s website.
| Company Name | Ornament Anchor |
| Founder | Ayaan Naqvi and Mickey Naqvi |
| Founded | Sep 2019 |
| Product | is a next-generation hook used for decoration |
| Asked For | $90k for a 5% equity |
| Final Deal | No Deals |
| Shark | No Sharks |
| Episode (Shark Tank USA) | S13 E8 |
| Air Date | Dec 10, 2021 |
| Business Status | In Business |
| Website | Visit Website |
| Headquarters | Shelton, Connecticut, United States |
| Lifetime Worth (Sales) | $1.8M *estimated |
| Go To Amazon | Buy Now |
| Watch On | Amazon Prime |
Another Shark Tank Pitch
Who Is The Founder Of Ornament Anchor?
The Ornament Anchors company is co-founded by four members: Ayaan, Mickey, Amanda, and Hamza. Ayaan, 14 years old, has a passion for gaming, while 15-year-old Mickey is focused on his interest in business.
Amanda serves as the Design & Business Assistant, bringing her creativity to the team. Meanwhile, Hamza manages sales and operations, ensuring the company runs smoothly. Together, these co-founders aim to innovate the way ornaments are hung on Christmas trees.
How Was The Shark Tank Pitch Of Ornament Anchor?
The Naqvi Brothers and their family appeared on Shark Tank seeking $90,000 for a 5% equity stake in their company, Ornament Anchors. During their presentation, the brothers showcased their product effectively, which piqued the interest of the sharks.
However, Kevin O’Leary questioned the company’s valuation of $1.8 million, prompting Mickey to explain that their sales figures supported this assessment. In the first year of the pandemic in 2020, they generated $312,000 in sales, and by June 2021, they had made an additional $80,000, totaling $500,000 over 18 months as of summer 2021.
The production cost for 24 ornament anchors is $1.50, and they retail for $24.99, resulting in a B2C profit margin of 94% and a B2B profit margin of 70%. Hamza, one of the brothers, is responsible for sourcing buyers, while Ayaan and Mickey focus on pitching and closing sales. In addition to running Ornament Anchors, their parents manage an existing business, KudoBandz, which sells game cards.
Despite their efforts, none of the sharks decided to invest. Mark Cuban remarked that he didn’t see the team as particularly strong, suggesting their primary aim was to gain exposure on TV.
Kevin O’Leary noted that he does not invest in seasonal products, while Daymond John stated the business wasn’t for him. Lori Greiner concluded that the venture was not investable, and Barbara Corcoran expressed her disbelief that customers would pay $25 for their product.
Finalize: The ornament anchor didn’t get a deal on Shark Tank.
What Happened To Ornament Anchor After Shark Tank?
The Naqvi family made another attempt to secure a deal on Shark Tank but, once again, did not succeed. Despite this setback, Mickey and Ayaan delivered an impressive pitch, showcasing their product, the Ornament Anchor.
Notably, they became the first children in Shark Tank history to appear twice on the show, first in 2019 and again in 2021, gaining valuable experience each time.
While the ornament hooks are priced higher than traditional hooks, many viewers on Twitter expressed their opinions regarding the cost.
25 Christmas ornament anchors for $25?! Absolutely not. I can get a pack of 20 ornament hooks for $2. Lower your price to maybe $14.99 and then maybe. #SharkTank
@zeldybear
In 2021, this multi-million dollar product was set to be available in 500 Lowe’s stores across the United States, with the Naqvi brothers negotiating to expand their presence in more stores by 2023.
In August 2022, Ayaan and Mickey attended a USPTO event where they discussed their invention and shared their journey from Shark Tank to QVC. Although they did not secure investment on the show, the brothers have successfully sold thousands of units, despite some sharks deeming the product too expensive.
As of December 2022, the company’s annual revenue was estimated at $1 million, with the potential for further growth during the Christmas season as customers sought reliable hooks for hanging ornaments on their trees.
We will continue to follow Ayaan and Mickey Naqvi for updates on their entrepreneurial journey and their company’s progress.
What Is Ornament Anchor Net Worth?
During their appearance on Shark Tank, the Ornament Anchor was valued at $1.8 million. Despite impressive sales, the company did not secure any investment from the sharks. Kevin O’Leary highlighted the product’s seasonal nature, noting that it is not sold year-round, which influenced the sharks’ decisions.
Headquartered in Shelton, Connecticut, the company employs four people and continues to focus on growing its market presence.
Yes, Ornament Anchor is still in business as of December 2022.
