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.
One of the Most Popular Products
Awesome company, Everybody loves a good ugly Christmas sweater. Great gift for others. Takes the fun out of going to a thrift store with your friends, but for people who do not want to do that it definitely makes it more convenient. Fun company
I love this company. I hate going to thrift stores and so this is an amazing way to get an ugly stylish sweater for a party! I’m not a very big fan of ugly sweaters, but the company did a great job finding a need and a gap in the market, and filling it.
Definitely fills a need. I don’t have an ugly sweater and I feel really out of place at parties.
Really cool and interesting idea. There jump in sales from year one to year two was unbelievable, curious to see what could’ve accounted for that jump.