What Happened to Santa Enchanted Mailbox after the Shark Tank Pitch?
What is the Santa Enchanted Mailbox?
Santa’s Enchanted Mailbox It’s a mailbox that magically delivers letters addressed to Santa Claus to the North Pole.
Fill out your letter, place it in one of the provided envelopes, and drop it in the mailbox.
After closing the door, raise the Flag to hear a lovely tune and chime.
When you open the mailbox again, your letter has mysteriously disappeared.
The mailbox itself is shaped similarly to a real mailbox, but slightly smaller. Each item retails for $39.99.
Their mailboxes have been sold all over the world. Chris’ stepfather-in-law created the first prototype out of wood, which was subsequently 3D printed.
When they tried it on his son and it worked, they realized they were onto something.
Before beginning work, they sought patents and a manufacturer. Santa’s enchanted Mailbox is now available at Bed Bath & Beyond, Walmart, Hobby Lobby, and Amazon.
Chris continues to work full-time as a sales manager for an online payment processing company.
Who are Behind Santa Enchanted Mailbox?
It was formed by Chris and Elisa Cirri, who turned a family legacy into a lucrative business.
In 2016, they had the concept for the Enchanted Mailbox. Their child would leave images for Santa in a specially designed box, then one of Chris or Elisa would distract him while the other parent slipped the image out of the box as if it had been mysteriously transported off.
Chris was ecstatic with the response and pondered what it would be like to have a “real” magical mailbox.
In 2017, the Cirris took the plunge and founded their firm. By 2019, they had sold over 100,000 units.
What Happened to Santa’s Enchanted Mailbox During Shark Tank Pitch?
Chris and Elisa went on Shark Tank Season 13 Episode 8 in quest of $150,000 in exchange for a 30% share in their business. This would imply a $500,000 valuation. They describe and demonstrate how their product works.
Onstage, a video of youngsters reacting to the mailbox plays, and the Sharks chuckle.
Chris discusses how the invention was developed, patented, and trademarked. They also outline the terms of their license agreement. In their first year, they achieved $120,000 in sales. In year two, a big box shop placed a $1.3 million order.
In the third year, they were confronted with the Covid-19 outbreak (2020). Elisa’s hair salon was closed for much of the year, and they struggled to juggle work and homeschooling.
As a result, they made the decision to be “more conservative.” Despite admitting that the product “underperformed,” the big box shop cut the price and sold out.
The license arrangement provided them 4% of revenues in the first year and 6% over the next two years.
They currently use Mr. Christmas’ manufacturer, although they pay a higher price for it.
The Sharks claim to have learned a licensing lesson. They cost $17.25 to land and $49.99 to sell.
They intend to cut production costs since the “magic price point” is $24.99.
They want to be able to tell the product’s story more effectively and would want marketing support.
Kevin O’Leary backed out of the deal. It was too seasonal for him, therefore he didn’t enjoy it.
Mark refuses to engage because the situation is too complicated.
Daymond John jumped in, stating that selling at retail was challenging. He backed out since the company was not yet in a position where he could invest.
Barbara has five seasonal enterprises and feels that entrepreneurs work harder since they have less time. She thinks it’s too pricey, therefore she’s out.
Lori Greiner was the only remaining shark. She liked the mailbox, but the price and manufacturing flaws turned her off. She’s gone, leaving Santa’s Enchanted Mailbox empty-handed.
What Happened to Santa Enchanted Mailbox Following the Shark Tank Pitch?
After the show, they cut the price to $39.99, and they are still in business as of January 2022.
What is the Net Worth of Santa Enchanted Mailbox
Chris and Elisa went on Shark Tank Season 13 Episode 8 in quest of $150,000 in exchange for a 30% share in their business. This equates to a $500,000 valuation.
Who are the Competitors for Santa’s Enchanted Mailbox?
Santa Enchanted Mailbox does not have any competition.
Santa’s Enchanted Mailbox FAQS
1. Did Santa Enchanted Mailbox appear on Shark Tank?
Yes, they did. They were pitched on Season 13 Episode 8.
2. How much do they charge per unit?
The mailbox costs $39.99.
3. Where is Santa Enchanted Mailbox purchased?
They can be found at Bed Bath & Beyond, Walmart, Hobby Lobby, and Amazon.
4. Who came up with the idea of Santa Enchanted Mailbox?
Chris and Elisa Cirri together came up with the idea and co-founded the company.
5. Where are their headquarters located?
They are located in Wallingford, Connecticut in the United States.
6. How is the sales for Santa Enchanted Mailbox?
They made $120,000 in sales their first year. A $1.3 million order was placed by a big box store in year two.
7. Do Santa Enchanted Mailbox ship?
The Enchanted Mailboxes have been distributed all over the world.
8. How can they contact Santa Enchanted Mailbox?
9. How much was Chris and Elisa Cirri was seeking in the Tank?
They were seeking $150,000 in exchange for a 30% stake in the company.
10. How much did they receive in the Shark Tank?
Chris and Elisa Cirri didn’t find any investment in Shark Tank.
11. What happened to Santa Enchanted Mailbox after the Show?
They cut the price of the product to $39.99, and they are still in business as of January 2022.
12. How many units did they sold prior to Shark Tank?
By 2019, they had sold over 100,000 units.