Every religion has its own festivals and ways of celebrations that make them different from others. Moreover, these days different religious groups live together and sometimes in a very close relationship. However, they sometimes feel reluctant to celebrate festivals together.
Morri Chowaiki, the owner of One Life Products, has the perfect solution for all inter-faith families. He has introduced the Hanukkah Tree Topper which gives joy to both Hanukkah and mistletoe.
The owner came on Shark Tank to request $50K in exchange for 15% of his company. He also brought different colored Hanukkah Tree Topper for the sharks to check his product. Let’s see if he got the deal or not.
Hanukkah Tree Topper Net Worth Shark Tank Update
Morri was looking for an investment of $50K in exchange for 15% equity in the company. At the time of the episode, he valued his company at $333K. Morri successfully secured a deal with Daymond for an investment of $50K for 35% equity in the company. The investment adjusted the company’s net worth to around $143K. After the show aired, the company saw a big increase in website traffic, sales, and social media exposure. As per my rough estimate, the current net worth of One Life Products in 2024 is around $1 million.
Shark(s) name
Offer & Demand
Counteroffer
Accepted?
Kevin O’Leary
Out
N\A
N\A
Mark Cuban
Out
N\A
N\A
Robert Herjavec
Out
N\A
N\A
Lori Greiner
Out
N\A
N\A
John Daymond
$50K in exchange for 15% equity
$50K in exchange for 35% equity
Yes
The Owner’s Backstory
Morri has a beautiful family of two daughters and a son. They love to enjoy different religious festivals with each other, Morri is a Jew and loves to play Hanukkah while his wife is a Christian and thus has a likeness towards Christmas. This led to the creation of Hanukkah Tree Topper to make the inter-faith celebrations possible.
The owner came on the show to seek $50K in exchange for a 15% equity stake. His product is basically a combination of a Hanukkah and mistletoe to allow inter-faith celebrations between Christians and Jews.
Lori asked the first question about the number of toppers he has sold so far. Morris replied that so far, he is able to sell 12K.
Kevin then inquired about his medium of sales. He pointed out that he is selling them at big box retailing stores, and online.
Herjavec wanted to know about the selling rates of the Hanukkah Tree Topper. Morris sells a single unit of the basic topper for $19.99 and it costs him $2 to make. Thus, the product has 70% wholesale margins and 90% retail margin.
Moreover, the bright blue topper is selling for $35.99 and it costs him $9 to make.
Kevin also asked about his sales for the 12K products sold. He highlighted that his gross sales were about $150K in the last three seasons.
Morris also highlighted that according to a survey, nearly 50% of Jewish people married Christian counterparts. So, millions of people are the target consumer of his product. He also pointed out that he is already in 200 stores.
Herjavec also asked him about his ratio of sales percentage for online and retailers. Morris answered that 70% of his sales are online while the rest are in retail.
Daymond was curious to know about his plans to use the money he was demanding on the show. He related that he wants to work on the design of the product, website, films, and space area, as he is currently working from home.
After getting a deal on Shark Tank, One Life Products also took a successful path in real life. The company made a deal with Kurt Adler, a well-known Christmas decor brand, to handle the production and distribution of the Hanukkah Tree Topper. Now, Morri and Daymond earn royalties every time one sells. Morris now works as the Head of Sales and Retail for Daymond’s Shark Group. You can buy the Hanukkah Tree Topper on Amazon.
Thus, the idea of linking two religious celebrations together worked in the wider market. Morri not only was able to get a deal from Daymond on Shark Tank but he was also successful in making a deal with other Christmas décor brands.
Hey there, it’s Andaleb Youns. I am a freelance content writer and am currently pursuing a BS in English Language and Literature. I have expertise in writing Blog Posts, social media content, and copywriting. I know how it feels to be a student and still be dependent on parents to fulfill even basic daily needs. This realization became apparent while watching Shark Tank. Although I started watching this show out of boredom, it proved to be an inspirational show. The show made me realize the importance of hard work, being independent, and of having a business of my own. I still look forward to it for entertaining and inspirational content.
