Who invested in Let Them Eat Candles? Lori Greiner refuses to partner up with Shark Tank's Barbara Corcoran for $250K deal
LOS ANGELES, CALIFORNIA: 'Let Them Eat Candles' innovative technique, replacing traditional candles with edible and tasty alternatives, not only reduces waste but also adds a delightful touch to birthday celebrations.
The founders introduced their unique concept on the 15th episode of the 15th season of ABC's 'Shark Tank,' capturing the attention of two Sharks eager to take a bite of their candle innovation.
Loree Sandler and her husband, Robert Michelson, entered the Tank seeking $250,000 for 10% of their firm.
Barbara Corcoran took the lead by making the first offer of $250,000 for a 25% stake in the company. Following suit, Lori Greiner presented a unique offer of a $125,000 loan and an additional $125,000 in cash for a 20% ownership stake.
Barbara emphasizes the distinction in their offers, highlighting that she is providing the full $250,000 in cash.
Rob expressed hesitancy about giving up a 20% stake in their firm but indicated a willingness to settle for 15% if Lori and Barbara collaborated on the deal. Lori promptly countered, stating, "I don't need a partner, but make it 18%, and I'll do it."
Barbara, however, maintains her position at 25%, leading Loree and Rob to ultimately choose Lori's offer.
What is the cost of Let Them Eat Candles?
Let Them Eat Candles' edible chocolate candles are widely available, including in major supermarket stores across the United States and prominent online platforms such as Amazon. Customers may also make purchases directly on the brand's website, where a package of three candles costs $11.95.
Customers interested in bulk orders at wholesale pricing can connect directly through the 'Let Them Eat Candles' website. This enables potential consumers to investigate appealing offerings and acquire low-cost prices on these revolutionary edible chocolate candles.
Who founded Let Them Eat Candles?
Loree established 'Let Them Eat Candles' in 2012, and her product was featured in the famous Martha Stewart's American Made contest, bringing her national fame. While local companies respected her imaginative approach, the limits of single-handed administration hampered the company's expansion.
Loree's entrepreneurial adventure gained steam in 2015 when she created a strategic partnership with her husband, Robert, which was a watershed moment for 'Let Them Eat Candles.'
This cooperation, which took place under the umbrella of Glencoe Studio, resulted in modifications to the packaging and molding processes, better matching the product with client requests, and improving overall polish.
'Shark Tank's Let Them Eat Candles is quite popular
Let Them Eat Candles' edible chocolate candles quickly captured the market's attention, meeting the demand for distinctive birthday alternatives among consumers. The brilliant concept received coverage in major media sites such as The Washington Post, Parents, and Good Morning America.
'Let Them Eat Candles' gained more notoriety with appearances on Food Network's 'Chopped Sweets' as well as several national and international periodicals, podcasts, and television shows.
The peak moment came with their debut on 'Shark Tank,' which catapulted the brand to new heights and introduced it to a larger client base, cementing its place in the public's imagination.
'Shark Tank' Season 15 airs on Fridays on ABC at 8 pm ET.
For those who missed the episode, it will be available on demand the following day and on Hulu. Additionally, viewers can explore past seasons and episodes on Amazon Prime Video and iTunes.