Do you believe in magic for skincare treatments? Well if you do “54 Thrones” should be a familiar name to you..!
Most people get frustrated about skincare treatments because of the chemicalized nature of the products. Hold on for a moment. What if you have a product based on botanical ingredients to secure the moisture of your skin? Curious to find out more? This is your chance.
Read what happened to 54 Thrones worth and net worth update in brief here.
What is 54 Thrones?
Seeking a botanical product to secure the moisture of your skin?
54 Thrones is a skincare line inspired by the grace of African beauty secrets. They have collaborated with African cooperatives to develop this super cool botanical moisturizer that does a miracle in securing the moisture in human skin.
54 stands for the number of African countries in the continent and the company promotes “Trade not Aid”. The crown jewel of the company, 54 Throne’s African beauty butter is an award-winning product that anyone can use from hair to toe. All their products have universal use.
Who is the founder of 54 Thrones?
Christina Funke Tegbe is the empowered woman entrepreneur behind the iconic name of 54 Thrones. She is a well-educated young lady with two master’s, MBA, and another master’s in health care administration.
She worked as a consultant and then she quits to learn more about her native Nigerian heritage, culture, and history. After that She had tagged along with the hard-working women making Shea Butter and learned more about African beauty secrets. After all, she had started her brand, 54 Thrones.
What happened at the Shark Tank?
Christina’s offer is 10% of equity for $250,000.
When Christina said last year they have made half a million dollars from just $8000 marketing budget, Nirav said ‘WOOW’
54 Thrones were at “Oprah’s Favorite Things” and sharks were interested to find out more. Facilitating the organic demand is the problem for 54 Thrones. They have repeated customers and have set a goal to make $1 million this year.
‘We gonna be launching in “Spora”’ Christina said. All sharks were amazed and said ‘Woah’ She’s planning to move from DTC to retail selling since she has a huge profit margin.
After hearing all these, Robert and Mark say they are out because they don’t have passion and understanding of skincare products and Lori was out due to an ethical conflict.
Only 2 sharks are remaining and now the temperature is high in the shark tank.
‘I think this is gonna work’ Kevin said. ‘I’m willing to give you half the money if one of my fellow sharks will come in with me’ said Nirav.
First, offer $250,000 for 20% equity of the company from Kevin, Nirav and ‘can we do $250,000 for 15%’ said Christina. ‘It makes me a 7.5 % guy’ Kevin said. After Nirav said to give more equity to Kevin and I’m still there to invest a half.
Christina made another counteroffer of $250,000 for 10%, and all sharks laugh and Kevin said ‘I’m not doing that deal’
‘Will you do $250,000 for 17%?’ Said Christina. Kevin, Nirav made a counteroffer of $250,000 for 17.5% where Kevin get 10% and Nirav gets 7.5% of equity and Christina said the magic word ‘YES’
54 Thrones after the Shark Tank
54 Thrones is now in the sky. They are on the list of ‘Oprah’s Favorite Things’ and got featured by the leading publishers and online marketeers such as Forbes, Elle, and Vogue.
All these publications have converged a high level of organic sales for all the botanical skincare products of 54 Thrones.
They are going well in the commercial skincare industry. Check out Amazon, Nordstrom, and Sephora the amazing 54 thrones African beauty butter, and all other products. You can buy all 54 Throne products directly from their online store as well.
also read: what happened to Briella Brown & Your Closet after Shark Tank?
Current Net Worth of 54 Thrones in 2022
Shark Tank was a huge boom for 54 Thrones. It helps Christina to achieve her goal for this year “One Million Profit” in a short period.
She came into shark tank demanding $250,000 for 10% equity of her company. This indicates a net worth of 2.5 million dollars but after accepting the offer made by Kevin AKA Mr. Wonderful and Nirav, she had devalued her company over 1 million dollars.
However, 54 Thrones have built dramatically after the shark tank and now it has a net worth of around $ 3.25 million.
Competitors of 54 Thrones
As an emerging cosmetic brand inherited to African beauty treatments 54 Thrones have several competitors in the botanical skincare treatments industry. Namely Epara, Luv Scrub, Base Butter, Shea Body Butter of Hanahana Beauty.
FAQ
54 Thrones is a skincare line inspired by the essence of African beauty secrets. They add value to African heritage by promoting luxury beauty products made on African soil by the native Africans.
Christina Funke Tegbe is the creative-minded empowered young lady entrepreneur behind the iconic name of 54 Thrones. She is a well-educated young woman with two master’s, MBA, and another master’s in health care administration.
The answer is Yes. All sharks were amazed by the knowledge and her journey so far. Several ‘Woah’s were there as well as counteroffers. In the end, Kevin, and Nirav’s joint offer of 17.5% share for $250,000 was accepted by Christina.
Have you checked your nearest retail cosmetic shop? Well if they don’t have it then check out Amazon, Nordstrom, and Sephora. Don’t forget to search on the 54 Thrones super cool online product store.
54 Thrones have roughly around $ 3.25 million net worth after the huge boom provided by the shark tank.