Angie Cella was a "Shark Tank" investor's perfect candidate, according to the show's judges: a big dreamer and go-getter with a powerful backstory.
The only catch, the investors said on Friday's episode of the ABC show: Cella's business needed a major overhaul, and Barbara Corcoran wanted to be the woman for the job.
By the time of filming last year, the product was projected to bring in $4.2 million in annual sales, Cella said. She asked the show's investor judges for $200,000, in exchange for 5% of her product, which she sold through a parent company she named GEMC².
In 2018, after getting Blinger manufactured, Cella got a booth at a toy fair in Dallas. She struck a licensing deal there with a company called Wicked Cool Toys, which placed Blinger in retailers like Target, Walmart and Amazon.
"In 2019, they did over $20 million wholesale," said Cella. "But Covid happened [and] sales went down, so my income went down."
Wicked Cool Toys was also acquired by a company called Jazwares in 2019, and the new owners weren't as interested in selling Blinger, Cella recently told the "Making It In The Toy Industry" podcast. Copycat products emerged, eating further into the product's dwindling sales.
Read more: Found here
No comments:
Post a Comment