Ornament Anchor Shark Tank Update | Ornament Anchor Net Worth
Ornament Anchor is a company that manufactures next-generation hooks specifically designed for securely attaching ornaments to Christmas trees.
The company, founded by brothers Ayaan and Mickey Naqvi, debuted on Season 13 of the popular reality TV show Shark Tank, where they introduced their product to a panel of potential investors.
The Ornament Anchor is a specially designed hook that fixes any ornament firmly to the Christmas tree, preventing it from falling and breaking – a common problem with traditional hooks.
The Ornament Anchor was designed to secure the ornaments and enhance the festive atmosphere during Christmas by avoiding any unfortunate ornament accidents.
Its versatility characterizes the Ornament Anchor. You can hang ornaments on Christmas trees, but you can also use them to decorate for other special occasions, such as weddings and birthdays.
Ornament Anchor is available in different quantities – 24, 48, and 96 – and comes in festive colors like green, red, and gold. The cost ranges from $20 to $75, and the product is available on Amazon and the company’s website.
Ornament Anchor is a great choice for several reasons. Its high-quality design ensures that ornaments are secured to the tree, protecting your cherished decorations from falling and breaking.
The variety of quantities and colors allows customers to choose based on their needs. The product’s universal application makes it perfect for various occasions, not just Christmas.
Ornament Anchor stands out in the ornament hook market thanks to its features and commitment to customer satisfaction.
| Company Name | Ornament Anchor |
| Entrepreneur | Ayaan Naqvi and Mickey Naqvi |
| Business | Decorator’s device for securing holiday ornaments |
| Investment Asking For | $90,000 for 5% equity in Ornament Anchor |
| Final Deal | No Deal |
| Shark | No Shark |
| Ornament Anchor Episode | Season 13, Episode 8 |
| Ornament Anchor Business Status | In Business |
| Ornament Anchor Website | Visit Website |
| Ornament Anchor Net Worth | $2 Million |
What Is an Ornament Anchor?
An Ornament Anchor is a small device generally used to secure holiday ornaments and decorations. The anchor ensures that the ornament remains in place, preventing it from falling or getting dislodged due to wind, accidental bumps, or other disturbances.
These anchors can be particularly useful for those with pets or young children who might inadvertently knock over or dislodge ornaments. They are typically easy to use and discreet, making them a practical tool for preserving your festive decor.
Ornament Anchors are usually designed to be discreet so they don’t detract from the aesthetic of your decorations. They are typically made from lightweight yet durable materials. Some may be transparent or designed to blend with common ornament and decor colors.
The main function of an Ornament Anchor is to provide additional support to keep ornaments securely in place. They can be attached to the ornament and then secured onto the tree branch or wherever you hang it.
Ornament Anchors can be used for other types of decor, including window decorations, outdoor ornaments, and more, besides Christmas tree ornaments. They can be particularly useful in high-traffic areas where decorations might be more prone to being bumped or dislodged.
You attach one end of the anchor to the ornament and the other to the branch or hook from which the ornament will hang. This provides extra security to keep the ornament in place.
Who Is The Founder Of Ornament Anchor?
Ornament Anchor was conceived by a pair of innovative young brothers, Ayaan and Mickey Naqvi. These energetic and creative siblings were instrumental in bringing the idea of the Ornament Anchor to life.
Ayaan, an eighth-grade student then, was pivotal to the company’s establishment. His passion for finding practical solutions led him to identify a significant problem during the holiday season – the constant falling and breaking of ornaments from Christmas trees.
This led to the inception of Ornament Anchor, a solution designed to keep ornaments securely attached to Christmas trees and thereby eliminate the worry of damage.
The young entrepreneur’s interest in business development extended beyond the concept phase. Alongside his brother Mikhail, Ayaan patented the Anchor, set up a functional website, and launched their product in less than a year.
Before presenting their innovative product on the popular TV show Shark Tank, the brothers had already made considerable progress with their business.
In their first year of establishment, they made a solid number of sales and even appeared on retail TV shows like Good Morning America and QVC, where their products sold out rapidly.
The siblings were already selling their anchors on Amazon and were expanding their distribution to large retail stores such as Walmart, Target, Safeway, Nordstrom, and Bed Bath & Beyond.
What’s more, they had a noble cause linked to their earnings. Ayaan and Mikhail committed to donating 10% of their earnings to prevent animal cruelty and supporting animal sanctuaries across America.
Thus, the story of Ornament Anchor is one of youthful innovation, tenacity, and entrepreneurial spirit, with a significant emphasis on giving back to the community.
Despite not securing a deal on Shark Tank, the company continued to flourish, a testament to the resilience and determination of its youthful founders.
How Was The Shark Tank Pitch Of Ornament Anchor?
The Shark Tank pitch of Ornament Anchor was led by members of the Naqvi family: Sofia, Amanda, Ayaan, Hamza, and Mika’il. They had previously appeared on the show to promote a different product, Kudo Bands.
The Naqvi family sought an investment of $90,000 in exchange for 5% equity in their business during the season 13 holiday-themed episode, valuing Ornament Anchor at $1.8 million.
Their product, Ornament Anchor, is a secure ornament hanger designed to prevent ornaments from falling off Christmas trees.
It provides a more secure method of attaching ornaments compared to traditional hooks and hangers, which can result in broken ornaments.
By the time of their Shark Tank appearance, Ornament Anchor had made impressive strides.
The business had made $500,000 in sales within 18 months, a feat even more remarkable given the seasonal nature of their product, as they were even able to make some sales in June.
The hangers were sold in packs of 24 for $24.99 each, yielding a high % profit margin of 94% for the family. The product was already available in Target and Nordstrom stores, with plans underway to secure additional purchase orders.
When it came to the Sharks’ feedback, the views were mixed. Mark Cuban thought the Naqvi family’s primary business was getting on TV due to their previous appearances and the many ventures they were managing, which led him to withdraw his interest.
Kevin O’Leary appreciated the product but was hesitant about the seasonal nature of it and decided not to invest. Daymond John followed suit, expressing that the product didn’t fit him.
Lori Greiner was impressed by the Naqvi family, but she didn’t see the product as having broad enough appeal to warrant her investment, so she also dropped out.
The last shark, Barbara Corcoran, stated that the product was overpriced, and she was concerned about the family’s apparent business-hopping, which prompted her to withdraw her interest.
Despite delivering a compelling pitch, the Naqvi family ultimately left Shark Tank without a deal. Nevertheless, their business continued to flourish. Their Ornament Anchors are available in Target, Bed, Bath & Beyond, and Amazon.
Even without definitive sales data post-Shark Tank, Ornament Anchor’s continued visibility and success suggests that their appearance on the show likely boosted their holiday season sales.
Did Ornament Anchor Get a Deal on Shark Tank?
Yes, Ornament Anchor did get a deal on Shark Tank in Season 13, Episode 8. The Naqvi family, including 13-year-old Ayaan Naqvi, the founder of Ornament Anchor, presented their product to the panel of investors.
Ornament Anchor is a toggle device designed to securely hang ornaments on Christmas tree branches.
It features a patented loop and pull clamp that ensures the ornaments stay in place and won’t fall unless intentionally removed. Since its launch in late 2019, Ornament Anchor has been well-received.
Ornament Anchor can hold up to 10 lbs and is compatible with various types and sizes of ornaments. The product comes in different colors: green, red, white, silver, and gold. The prices range from $24.99 for a pack of 24 to $84.99 for a 96-pack.
The Naqvi brothers, passionate about animal welfare, donate 10% of their profits to no-kill animal shelters. In 2020, they donated $20,000 to the North Shore Animal League of America.
Ornament Anchor is available on their official website and popular platforms like Amazon. It has also expanded its distribution to stores like Target, Nordstrom, Dillards, Safeway, and Bed Bath and Beyond.
What Happened To Ornament Anchor After Shark Tank?
Even though Ornament Anchor did not secure an investment deal on Shark Tank, the business appears to have thrived after its appearance on the show.
The Naqvi family’s products continued to be available at notable retail locations such as Target and Bed, Bath, & Beyond and on the prominent online marketplace Amazon.
Their product has also been featured in numerous publications, enhancing its visibility and further solidifying its reputation as a popular solution for securing Christmas ornaments.
Although there is no specific information on whether sales have increased following the Shark Tank appearance, given the high-profile exposure the business received from the show and its continued presence in major retail outlets, it is reasonable to assume that Ornament Anchor has had successful sales cycles, especially during the holiday seasons.
In addition, the family has continued their philanthropic commitment, with a portion of the company’s earnings going to animal rights and the prevention of animal cruelty across America.
The Naqvi family’s resilience and commitment to improving their product offerings continue to drive Ornament Anchor’s success, showing that the lack of a deal on Shark Tank did not dampen their entrepreneurial spirit or their business’s growth trajectory.
Ornament Anchor Shark Tank Update
Ornament Anchor, the innovative hook-making business by the Naqvi Brothers, made an impression on Shark Tank even though they did not secure a deal. Despite the setback, the company continued to grow and expand its business after the show.
Following their Shark Tank appearance, the Naqvi family didn’t let the lack of a deal deter them. They continued to promote their product and expand their sales channels.
Ornament Anchor’s products were set to be available in 500 Lowe’s stores across the United States. The Naqvi Brothers were reportedly in talks with more stores, with plans for further expansion by 2023.
In August 2022, both brothers, Ayaan and Mika, attended a USPTO event where they discussed their invention. They also talked about the journey of Ornament Anchor from Shark Tank to QVC, indicating a significant growth trajectory for their product.
Despite some criticism about the price of their product, Ornament Anchor managed to carve out a niche for themselves in the market.
The company’s annual revenue was estimated at around $1 million. This figure is projected to increase during the holiday season when demand for their product typically rises.
The brothers’ product has received positive reviews on Amazon, with over 600 reviews and a rating of 4.5 out of 5 as of December 2022. This positive feedback suggests that consumers value the unique solution that Ornament Anchor provides and are willing to pay for it.
As of 2023, Ornament Anchor is still in business and continues to grow. The company’s headquarters are based in Shelton, Connecticut, United States, and employs 4 people.
Despite not securing an investment deal on Shark Tank, Ornament Anchor has grown and expanded its business.
The company continues to generate impressive sales and has plans for further expansion. With their innovative product and determination, the Naqvi Brothers have demonstrated that there is a market for their unique ornament anchors.
Is Ornament Anchor Still In Business?
Yes, Ornament Anchor is still in business. The journey of its young founders, Mik’al and Ayaan Naqvi, has been quite remarkable. After their presentation on Shark Tank, the ornament-securing product gained substantial exposure. Although they did not secure a deal with sharks, their business thrived.
In their first year of business (2020), they achieved $350,000 in sales. Their success continued into 2021, with an impressive $80,000 in sales as of June that year. As of summer 2021, their lifetime sales amounted to $500,000.
The boys also sold out on their QVC and Good Morning America appearances in August 2020. They started selling their product on Amazon and managed to penetrate retail giants like Target, Nordstrom, Dillards, Safeway, and Bed Bath and Beyond.
In 2021, they got their product into 500 Lowes stores in the northeastern USA. As of December 2022, their annual revenue was reported to be $1 million.
They continue updating their social media platforms with content related to their products and business journey. The boys’ product was a hit on QVC and Good Morning America in August 2020, selling out completely.
They then began selling their product on Amazon and were able to break into major retailers like Target, Nordstrom, Dillards, Safeway, and Bed Bath and Beyond. Their product is available in 500 Lowe’s stores in the northeastern United States.
As of 2023, Ornament Anchor’s annual revenue is reported to be $1 million. They continue to update their social media platforms with content about their products and business journeys.
What Is the Net Worth Of Ornament Anchor?
According to our research, the net worth of Ornament Anchor is estimated to be $2 million. The valuation of Ornament Anchor was $1.8 million when it appeared on Shark Tank.
Also, read other businesses that appeared on Season 13 of Shark Tank:
