Beddley Before Shark Tank
Washing a king-sized duvet cover could be a chore, especially when it comes to stuffing the duvet into the cover. Getting the duvet inside the large cover, aligning it properly, and then making sure the cover covers the entire duvet, is an exhausting and time-consuming task. That is why Nigerian entrepreneur Lola Ogden came up with the perfect solution: Beddley.
Normal duvet covers are generally thin four-sided covers with an opening on one side. The user would have to stuff and fit the duvet inside the cover, making sure all corners align. Beddley covers, however, are open on three sides, making the entire process easier. All the user has to do is place the cover on a flat surface, open it, place the duvet on it and align it properly, then close the cover and zip it using Beddley’s special cover zipper.
Lola Ogden was a Columbia business school graduate with an MBA (Master of Business Administration) degree. Her first position was as Vice President of Citi, a New York-based company. She then worked as a marketing consultant at a consulting firm. So it was no surprise to anyone when Ogden decided to start up her very own business.
After deliberating about what her business should be about; she came up with Beddley. Ogden founded Beddley in 2017. Her budget was limited, but she made it work nonetheless. Beddley started slow, not picking up traction until a few years later. In 2018, Ogden continued her hustle by starting another business, GapEnder. Ogden ran GapEnder alongside Beddley as she tried to make both companies successful.
Beddley started picking up traction in 2019, and Ogden decided to go on Shark Tank to find a business partner willing to invest in her business. Beddley needed to invest in marketing and brand awareness; Ogden hoped to secure an investment to build the Beddley brand to obtain more customers.
Beddley on Shark Tank
Lola Ogden was on season 11 of Shark Tank to pitch her company, Beddley. She demonstrated Beddley’s duvet covers to the Sharks with a hilarious presentation. Ogden then gave each Shark a sample of the product in its original packaging. Kevin O’Leary explained to the Sharks the difference between a duvet and a blanket. Ogden told the Sharks her backstory, claiming she had an entrepreneurial spirit ever since she got her MBA degree.
The Sharks weren’t impressed by the packaging; they believed what made Beddley stand out from other duvet covers wasn’t emphasized in the package. Ogden stated that her product was only sold online, and the website had a video showing how the duvet cover worked. The Sharks still didn’t like the fact that the packaging didn’t clearly show how the 3-sided duvet cover worked.
Lola Ogden was seeking $150,000 for 10% equity in Beddley. She told the Sharks that Beddley covers were made in the United States, which is why the cost to produce them was high. Each Beddley duvet cover costs $57.50 to produce and sells for an average of $130-$140.
Ogden prefaced her sales by asking the Sharks not to judge them as she knew she could do better. She stated that in 2018, Beddley made $28,000 in sales. From 2019 till the moment of filming, Beddley only had $12,000 in sales. The numbers left the Sharks disappointed; none of them liked her sales. Robert Herjavec even commented, “Your sales suck,” when she finished citing the numbers.
Ogden bootstrapped her company with only $91,000 from her own money. She claimed she hustled a lot to get her business to where it was with a limited budget. “You haven’t hustled enough,” Mark Cuban replied. Ogden believed the low sales were due to the lack of marketing and brand awareness Beddley had. Not enough people knew about the product. Ogden stated the company was in a couple of Macy’s pop-up shops, and QVC was interested in Beddley.
Lori Greiner could relate to the problem and liked the idea; however, she believed the company wasn’t right for her to invest in, so she was out.
Daymond John thought the idea was genius because it saved people time, but he didn’t think Ogden had a valid business strategy yet, so he was out
Robert Herjavec commended Ogden for her courage and hustle, but he didn’t believe she presented her company well enough; he was out.
Mark Cuban didn’t believe Ogden was aware of how her business was doing. he didn’t like the numbers either, so he was out.
Kevin O’Leary was very resolute; “No, never, no, I’m out,” was his answer.
Lola Ogden left the Shark Tank empty-handed after all five Sharks refused to invest in her business. She believed Beddley would become successful even without a Shark’s help, all she needed was one breakthrough.
Beddley Now in 2024 – The After Shark Tank Update
Beddley tried its best to increase sales despite not getting a deal on Shark Tank. After the pitch, Lola Ogden obtained a patent for Beddley’s 3-sided zipper duvet cover. Unfortunately, soon after the episode aired in April 2020, Beddley was forced to stop production in response to the Covid-19 Pandemic. Instead of producing duvet covers, Beddley helped provide Covid-19 relief by producing face masks for essential personnel and the general public.
Beddley resumed production of the 3-sided duvet covers a year later in June 2021. Beddley only accepted pre-orders after production resumed. All products were delivered in late December 2021. Now in 2024, business is back as usual.
Beddley came back strong in 2024, announcing new duvet covers, colors, deals, and offers for their collections. The company introduced pillow shams to match your favorite Beddley duvet cover. Duvet covers start at $129 for a twin-sized duvet, $149 for a queen-sized duvet, and $159 for a king-sized duvet. Pillow shams start at $24.99 for a standard-sized pillow.
Beddley’s duvet covers are Oeko-Tex certified and made with premium long-staple cotton. The product’s ease of use and time-saving potential has made it popular among many as Beddley’s 3-sided duvet covers received thousands of five-star reviews. Beddley hasn’t reported its annual revenue for 2024; however, the company’s lifetime sales have increased massively, so it is safe to assume that Beddley has increased its revenue since the company’s appearance on Shark Tank.
Now in 2024, Beddley is still in business and fully operational. The company continues to release new colors and products. Ogden believes her revolutionary 3-sided zipper duvet cover technology will become a staple for duvet users nationally. Beddley is expected to continue to grow as the company announces new products and redoubles its marketing efforts. For more information and updates on Beddley, visit their website here.