Tipsy Elves
| Company type | Private |
|---|---|
| Industry | Clothing, Retail |
| Founded | 2011 |
| Founder | Evan Mendelsohn, Nick Morton |
| Headquarters | United States |
| Products | Holiday-themed clothing, festive sweaters |
| Website | www |
Tipsy Elves is a company focused on holiday-themed clothing, particularly festive sweaters and related merchandise, primarily distributed through online platforms. A share of the proceeds is allocated to charitable causes. In December 2013, founders Evan Mendelsohn and Nick Morton appeared on the American TV program Shark Tank, where they secured a $100,000 investment to support their retail expansion efforts.
History
Established in 2011 by Evan Mendelsohn, who holds both a JD and MBA from the University of Southern California, alongside Nick Morton, an endodontist and alumnus of the University of the Pacific, Tipsy Elves introduced its inaugural holiday sweater collection during that Christmas season. The brand is known for incorporating playful humor into classic Christmas designs. One of its notable creations, a buck-toothed reindeer sweater, attracted media spotlight including features in People Magazine and participation in the Today Show ugly sweater contest.
Tipsy Elves offers two distinct apparel collections: a "naughty" line characterized by more provocative humor and a "nice" line with gentler themes; the former accounts for the majority of sales. Within its first year, the business sold over 1,000 sweaters, generating approximately $370,000 through online sales, and approached $1 million revenue in its second year. The company integrates philanthropy into its operations via the Sweaters 4 Sweaters initiative, whereby profits fund sweater donations for children in need. In 2013, Tipsy Elves collaborated with Stand Up to Cancer, contributing $2 from each sweater sold and committing between $25,000 and $100,000 to support the organization.
By 2014, revenue projections for Tipsy Elves reached $12 million. By 2018, cumulative sales surpassed $70 million with over two million products sold since the company's inception.
Television
On December 13, 2013, the founders appeared on Shark Tank, securing a $100,000 investment from Robert Herjavec in exchange for 10% ownership. Having already exceeded $1 million in revenue during their initial two years, they aimed to enter retail markets. Kevin O'Leary proposed a $100,000 royalty agreement without equity involvement, while Daymond John considered but ultimately declined investment. Herjavec has cited Tipsy Elves as his most successful Shark Tank portfolio company. The brand’s post-investment growth was showcased in the debut episode of Beyond the Tank.