Ornament Anchors is a business that manufactures hook type anchors to securely attach ornaments to Christmas trees. We can hang ornaments of any shape and type on the Christmas tree with the help of this hook.
When we hang different ornaments on the Christmas tree through regular hooks, sometimes that hook is not properly attached to the tree, For this reason, those ornaments fall down and break and this has a bad effect on the atmosphere of Christmas.
To solve this problem the Shelton, Connecticut based company Ornament Anchor has launched an innovative new generation hook. Their hooks are safe and secure and keep the ornament well attached to the tree.
This business idea came from Naqvi Brothers. They looked for their fallen ornaments and found that the ornaments were not properly attached to the tree because of the hook.
They thought of a better and safer way to attach ornaments to trees and came up with the Ornament Anchor product.
These two brothers Ayaan Naqvi and Mickey Naqvi along with their company Ornament Anchor appeared in Shark Tank and asked for $90,000 for 5% equity at a $1.8 Million Valuation from the sharks.
What Is Ornament Anchor?
Ornament Anchors is a business that wants to be the next version of hooks for ornaments. With the help of this hook, the ornaments hang safely on the Christmas tree.
This hook can be used for making different decorations on special occasion like Christmas, Wedding Keepsake, Birthday and many more.
This hook comes in different quantities and colors include 24, 48, 96 and Green, Red, Gold. The price of all these ranges from $20 to $75. This product is available on Amazon and company website.
|Company Name||Ornament Anchor|
|Founder||Ayaan Naqvi and Mickey Naqvi|
|Product||is a next-generation hook used for decoration|
|Asked For||$90,000 for a 5% equity|
|Final Deal||No Deals|
|Episode (Shark Tank USA)||Season 13 Episode 8|
|Air Date||Dec 10, 2021|
|Business Status||In Business|
|Headquarters||Shelton, Connecticut, United States|
|Go To Amazon||Buy Now|
Another Shark Tank Pitch
Who Is The Founder Of Ornament Anchor?
The 4 members of Ornament Anchor Company are Ayaan, Mickey, Amanda and Hamza. These are the co-founders of the company, Ayaan and Mickey.
Ayaan is 14 years old and he loves gaming. Mickey is 15 years old and is interested in business. Amanda a Design & Business Assistant in this company. Hamza handles the sales and operations in this business.
Ornament Anchor Before Shark Tank
This company was launched by Naqvi Brothers in 2019. But Naqvi Family appeared in Shark Tank Season 10 on 2019 for the first time with the company “KudoBandz”. However, then that company does not have an investment in Shark Tank.
Naqvi Brothers made this product so that the ornaments do not fall down from the tree and the ornaments are securely attached to the tree.
This business idea first came to Ayaan when he was 10 years old and was studying in 4th grade. When Ayaan made this product for the first time, he got a query from many people that from where they can buy this product.
In 2019, a product worth $1,000 was sold in 6 hours at the local Christmas fair.
Ayaan along with his brother, Mickey, and mother, Amanda decided to start this business. In 2020, this business did $250k in sales. Naqvi is a family animal lover and they donated 10% of their profit from these sales to animals, about $20k.
How Was The Shark Tank Pitch Of Ornament Anchor?
Naqvi Brothers and their family appeared on Shark Tank with their company and asked the sharks for $90k for a 5% equity. Both these brothers gave a very beautiful presentation on their product.
Kevin O’Leary said why this business is valued at $1.8 million. Mickey said that the reason for this is their sales. During the first year 2020 Pandemic, their sale was $ 312,000. June 2021 they made $80,000 in sales. In 18 months, they have made sales of $0.5 million to date (Summer 2021).
24 ornament anchors cost $1.50 to make and sell for $24.99. Their B2C profit margin is 94% and B2B profit margin is 70%.
Hamza searches for buyers for this product and those two boys, Ayaan and Mickey, do the pitching and closing. Along with this business, Mom and Dad is running their old business “KudoBandz” and also selling game cards.
Mark Cuban says this is not the most power-packed team, it is just to get on TV and sell so he is out. Kevin O’Leary said it is a seasonal product and he does not keep seasonal products in his portfolio then he is out.
Daymond John said that this business is not for him, so he is out. Lori Greiner said this business is not investable for her so she is out.
Barbara Corcoran said she is shocked that people pay $25 for this product, so she is out.
Finalize: The ornament anchor didn’t get a deal on Shark Tank.
What Happened To Ornament Anchor After Shark Tank?
Naqvi family once again did not get the deal in Shark Tank. This family is incredible and they were pitched very well by Mickey and Ayaan in Shark Tank.
Mickey and Ayaan are the first children in Shark Tank history who appeared twice in the show with a new company. This family entered Shark Tank twice in 2019 and 2021 and had a great experience in the show.
The price of this ornament hook is very expensive than a normal hook. Many people shared their opinion on this expensive hook on twitter.
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
This multi-million dollar business product will be available at 500 Lowe’s stores in the United States in 2021. Naqvis Brothers is in talks with more stores which they will roll out by 2023.
In August 2022, both brothers Ayaan and Mika attended the USPTO event and talked about the invention in the event. The event also talked about the journey of the ornament anchor from shark tank to QVC.
Ornament Anchor Shark Tank Update
The ornament anchor didn’t get investment in Shark Tank but was able to sell thousands of dollars. Most people found this product expensive with shark, although many people must have bought this product.
As of December 2022, this company’s annual revenue is estimated at $1 million. This company’s revenue can increase further during Christmas, as many people will buy the hook to fix the ornament on the tree.
We’re following Ayaan Naqvi and Mickey Naqvi along with their company for further updates.
What Is Ornament Anchor Net Worth?
The ornament anchor was worth $1.8 million during the Shark Tank show. But no investment was found in Shark Tank, despite the company’s sales being very good. As Kevin said it is a seasonal product which is not sold all the time.
This product can generate very good sales in different seasons like Christmas etc. more than an estimated million of dollars.
Is Ornament Anchor Still In Business?
After being successful in Naqvi Brother Shark Tank, they are now focusing on growing their product. They were able to list their product at Lowe’s and QVC stores and are now talking to more stores.
This hook product is available on Amazon and as of December 2022, this product has got more than 600+ reviews.
Most Reviewers likes this anchor very much. This product has got 4.5 out of 5 ratings on Amazon.
This company is headquartered in Shelton, Connecticut, United States and employs 4 people.
Yes, Ornament Anchor is still in business as of December 2022.
frequently asked questions
How much is the company Ornament Anchor worth?
The worth of Ornament Anchor Company is $1.8 million.
Who invented ornament anchors?
Ayaan Naqvi invented this ornament anchors at the age of 10.
Who owns Ornament Anchor?
The owners of Ornament Anchor are Ayaan Naqvi and Mickey Naqvi. Their parents Amanda and Hamza are another member of this company.