Beddley
The struggle against the duvet is real, says the entrepreneur behind Beddley, a Los Angeles, CA, based company that wants to help people fight the... blanket?
But seriously, changing a duvet cover can be a pain in the ass and is probably why people don't do it as often as they should. Well, says this entrepreneur, it doesn't have to be so challenging. Introducing "Beddley", the first duvet cover with openings on three sides instead of just the one.
By being able to open on three sides, someone with a Beddley duvet cover could lie the cover flat on the bed and flip it open on the one attached side. Then, all one need do is lay the duvet inside, flat, close the cover, and button or zip it securely closed. It's one of those ideas where, once you've seen it, you wonder how people hadn't come up with it before.
Mr. Wonderful shares a small history lesson. He states that the duvet is the goose down blanket on the inside of the cover and that it was invented in France in the 16th Century.
Back to the pitch, the entrepreneur says that Beddley duvet covers are sold only online and that she's created video demonstrations to help explain the product. When she expands into retail, she hopes that customers will read the label in order to know what it does.
Currently, the Beddley is made in the United States and, because of that, is on the expensive side to produce. It cost $57.50 to create one Beddley and is sold for between $130 and $140. In the previous year, Beddley sold $28,000 worth of product and another $12,000 so far in the year this episode was filmed. The entrepreneur invested $91,000 of her own money into the company.
The entrepreneur came to the United States from Nigeria with degrees in chemistry and physics. She then worked in finance and attended Columbia to earn her MBA. But, despite all of this, she was continually frustrated by the duvet cover and had the Shark Tank moment, believing that "there must be a better way!"
So far Beddley has been in two Macy's pop up shops and she has been trying to get it onto QVC.
Naturally, any mention of QVC perks up Lori's ears and she states that she thinks it's quality. Unfortunately, without offering any other reason, she says that it's not for her and is the first to go out.
Mark says that he loves the entrepreneur and loves the products but is not so in love with the sales figures. He then points out that she hasn't left herself enough money for marketing.
Daymond says that marketing is a black hole for cash. He says that he thinks the product is a good idea but because she hasn't figured out her sales, he's out.
Robert, meanwhile, credits her entrepreneurial spirit and says that anyone who starts a new business has made a courageous decision but that the entrepreneur hasn't done a good enough job of explaining how Beddley will earn his money back, so he drops out.
Finally, Mark says that Beddley has made the same mistake a lot of new businesses have made in thinking that the lack of marketing is the only thing preventing big sales. And, so, he drops out.
Mr. Wonderful has nothing left to add to the deal except to say, "No. Never. No. I'm out." Which, you know, is the kind of thing an entrepreneur can really take back and apply to her business.
Unfortunately, Beddley was unable to make a deal with any of the sharks.