The company continues to generate about $500,000 during the Christmas season every year, and products can be purchased on the company’s website. Matt then went on to design cheaper versions of his Modern Christmas Trees.
The first reason is that Matt and Barbara did finalize their agreement and sales tripled shortly after airing. Our Modern Christmas Trees update is exciting for a few different reasons. Now let’s get a Modern Christmas Trees update and see how the company is doing since the deal on Shark Tank. Matt accepted Barbara’s offer and decided to partner with her. Lori Greiner also dropped out, but Barbara Corcoran made an offer of $100,000 for 18% equity and a $5 royalty until she received her money back. Three sharks remained, so Matt was certainly running out of options to secure an investment. Mark Cuban and Robert Herjavec believed that the product was aimed at a very niche and premium selection of the public market for artificial Christmas decorations and they both decided it was too risky to invest and dropped out.
Almost all of the company’s sales come directly from online, while only a small percentage comes from retail stores. That particular version sells at a price point of $799. When the subject of product pricing came up, Matt told the sharks that it costs him about $250 to build the largest variation of the ‘modern Christmas tree’ that he was demonstrating and showing off.
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