The company’s net worth has also grown significantly. Initially valued at around $1.4 million during the Shark Tank pitch, 54 Thrones is now estimated to have a net worth of approximately $3 million as of 2023.
54 Thrones, a skincare company inspired by African beauty rituals, has experienced significant growth since its appearance on Shark Tank.
Founded by Christina Funke Tegbe in 2016, the brand emphasizes using natural ingredients sourced sustainably from various African countries.
When Tegbe pitched the company on Shark Tank in Season 13, she sought a $250,000 investment for 10% equity. Ultimately, Kevin O’Leary and Nirav Tolia invested $250,000 for a 17.5% stake in the company.
Since its appearance on the show, 54 Thrones has achieved impressive milestones, including launching its product line in Sephora and expanding its reach to retailers like Nordstrom.
This exposure has contributed to the company’s growth in sales, with annual revenue increasing to over $1 million.
The brand has gained recognition in the beauty industry, receiving accolades such as Oprah Magazine’s O-ward for Best Face Oil 2020.
The company’s net worth has also grown significantly. Initially valued at around $1.4 million during the Shark Tank pitch, 54 Thrones is now estimated to have a net worth of approximately $3 million as of 2023.
This growth showcases the brand’s success in the competitive skincare market and its ability to resonate with consumers interested in natural and African-themed beauty products.
54 Thrones and Sephora are not the same company. 54 Thrones is an African skincare brand founded by Christina Tegbe.
The brand is known for its luxurious, high-quality products that are inspired by African beauty rituals and use ethically sourced ingredients from across the continent.
Sephora, on the other hand, is a multinational retailer of beauty and personal care products, including skincare, makeup, and fragrance.
Sephora operates a chain of stores worldwide and also has a significant online presence. The retailer features a wide range of beauty brands, including both established and emerging names in the industry.
The connection between 54 Thrones and Sephora is that 54 Thrones was picked up by Sephora as part of their “Clean at Sephora” initiative.
This collaboration has significantly increased 54 Thrones’ visibility and accessibility, helping the brand reach a broader audience through Sephora’s retail network.
Being featured at Sephora has contributed to the growth and success of 54 Thrones, especially after its appearance on “Shark Tank.”