During Season 11 of Shark Tank, one entrepreneur Lola Beddley pitched her invention, the Beddley Duvet, which claims to be the only duvet cover that zips in three directions to prevent strain on the neck and shoulders when the insert is stuffed into the cover. The duvet, which is made from bamboo, is available in a variety of colors, including grey, red, blue, white, and tan, and ranges in price from $130 to $170. The product, which is designed to make stuffing a duvet a thing of the past, is also a clever product showcasing some of Beddley’s STEM (science, technology, engineering, and math) credentials.
Although Beddley did not strike a deal with the sharks, her product remains in operation. She has also made appearances on two pop-up Macy’s stores. The Beddley has garnered a small but impressive $4 million in lifetime sales, and plans to make a comeback in June 2021. She has also attempted to make a splash on the QVC circuit, but so far has not managed to break even. She may have the best business plan in town, but her competition is a lot stronger than she is.
The Beddley has also been in the spotlight in the media, as the aforementioned tv show has been touting the product, and ad campaigns have been thrown around. In addition, Beddley has been featured on the Shark Tank USA show in 2020. She also has a blog that provides a plethora of information about entrepreneurs and their wares. The Beddley has also been the subject of two pop-up stores at Macy’s, and has appeared in a few other ad campaigns. As of October 2020, Beddley’s ad campaign had attracted a respectable six million impressions, and the company was reportedly making about $120,000 a month in revenue. This number is expected to rise in coming months, as Beddley is gearing up to launch its next big campaign.
In short, the Beddley Duvet is a well thought out product that improves the quality of life for those who are willing to pay the price. During her time on the show, Beddley has learned how to present a well-designed and well-executed business plan, and has made a splash at the retail level. Although Beddley’s life story has been a bit of a bumpy one, the product remains a viable contender for the title of “Most Innovative Business of the Year.” As for her net worth, Lola is a well-respected entrepreneur who holds an MBA from Arizona State University and has a net worth of just under four million dollars as of the end of the year.