One of the best ways to chill outdoors is to lie down on a hammock. In this case, you can rely on Yellow Leaf Hammocks that are designed for chilling and relaxing. These colorful hammocks are made of high-quality cotton and woven by Mlabri tribe members in Thailand.
Ever since Yellow Leaf Hammocks appeared on Shark Tank, the brand has become extremely popular in the market. Joe Denim and Rachel Connors are the founders and they pitched their product in the eleventh season of Shark Tank.
The founder duo secured a deal from Daniel Lubetzky. As per sources, the current net worth of the brand is around $4 million.
Recommended: Coffee Meets Bagel’s Net Worth
Shark Tank Pitch
Yellow Leaf Hammocks appeared on the eleventh season of Shark Tank. The couple came in with a 7% stake for $400,000.
During the pitch, the husband and wife explained the details and objectives of their business. This got the attention of investor Daniel Lubetzky. He proposed to them a deal of 33% equity for $400,000. Even Robert Herjavec and Lori Greiner showed interest and proposed their prices.
After changing the offer quite a few times, the deal was finalized by Daniel Lubetzky for 25% equity in exchange for $1 million.
Recommended: Wanna Date Net Worth
After Shark Tank Appearance
Yellow Leaf Hammocks was a successful brand before it appeared on Shark Tank. However, the company hit its lowest point during the pandemic. The cruise ship sales and transportation outside and inside every country were limited.
Yellow Leaf Hammocks is available on Amazon. The products have received very high ratings. They slowly began to recover sales after the pandemic got over. It is currently generating $1 million annually, while the net worth of the business is around $4 million.
Recommended: Scholly Net Worth
About the Founders
Joe Denim and Rachel Connors are a married couple from Los Angeles, California. Joe acquired a degree in finance and graduated in 2006, from DePaul University. After passing college, he secured a job in the property development business. However, he quit the job in 2008, during the recession period.
On the other hand, Rachel has a degree in political science and public relations. She completed her graduation from the University of Florida. In 2007, she interned at a PR company called Girl About Town Communications.
On their trip to Thailand, they came across the Mlabri tribe people, the best hammock weavers. After coming back to the U.S., they planned to set up their business. This led to the foundation of Yellow Leaf Hammocks in 2011. It specialised in producing hand-woven hammocks by the Mlabri tribe members in Thailand.
The cotton-made hammocks became popular as soon as they were introduced in the market. Yellow Leaf Hammocks offers high-quality hammocks at lower rates. In 2018, the company made a yearly sale of $860,600.
Yellow Leaf Hammocks are known for three things: rot and mold resistance, 3-way weave design, and soft fibers. This is what makes these hammocks different from other ordinary hammocks on the market.
Recommended: Tosca Musk Net Worth
FAQs
1. Are Yellow Leaf Hammocks successful?
Yellow leaf hammocks gained immense popularity after their episode aired on Shark Tank. The company managed to secure a pretty great deal from guest shark Daniel Lubetzky, who offered $1 million for 33% equity. After some negotiations, they managed to reduce to 25% equity for a $1 million investment.
2. How much did yellow leaf make?
During 2018, Yellow Leaf made around $860,000 in sales. However, during their episode on Shark Tank, the owner, Demin said that they are estimating to make around $1.3 million by 2019. Since the episode aired, the company has been consistently profitable, earning a steady income and growth.
3. How did Yellow Leaf Hammocks do after Shark Tank?
Yellow Leaf Hammocks has only grown to great heights following their appearance on Shark Tank. Their products are available on Amazon and according to reports, the company is generally over $1 million in business each year. They currently have a net worth of $4 million.
4. What’s the USP of Yellow Leaf Hammocks?
Among all the different brands of hammocks available in the market, what makes Yellow Leaf Hammocks stand out from the crowd is the fact that their hammocks are hand woven by people in the Mlabi tribe in Thailand.
Recommended: Rick Ness Net Worth