In 2011, Tipsy Elves was founded by Evan Mendelsohn and Nick Morton. It started as a seasonal business for goofy and ugly Christmas Sweaters. In the first year of business they had $370,000 in website sales and the next year proceeded to reach almost $1 million in sales. With a booming business and bright plans for the future the two young founders took their idea to Shark Tank in 2013 where they received an investment from Robert Herjavec for 10% of their company. It has since become the most profitable investment that Robert has made in his history on Shark Tank. In 2014, their revenue was close to $12 million. The success of this funky company is mostly on their Christmas season sales of the ugly Christmas sweaters, however they have also introduced Halloween wear, beach wear, and ski wear.
A strange idea for a business turned into a multi-million dollar one because Evan and Nick found a demand for ugly Christmas sweaters that no one else saw. If they can stay focused on the Christmas sweaters and not overt a lot of energy on the other less important products they feature, they will continue to grow until Tipsy Elves is at every Christmas party in the world.