Business

This is a big deal for the end of the year (believe it or not)

In this “millennial tradition”, companies like Tipsy Elves generated annual sales of millions.


What?

Offices around the world are looking for new ideas to celebrate that end of year and at the same time promote the integration of its employees. Incredible a millennial fashion has become a great source of vacation inspiration … and money: ugly Christmas sweaters.

This is a big deal for the end of the year (believe it or not)
This is a big deal for the end of the year (believe it or not)

What was once the seasonal gift your aunt or grandmother gave you at parties has become thanks to fashion “Ugly Sweater Parties” that have been established in popular culture since 2010. In America, too, they celebrate their own official day on December 21st.

The joke of this “holiday” is to find the ugliest or worst tasting Christmas sweater, wear it to a themed party with friends or colleagues, and win a prize. They can even be used as barter gifts to avoid dissatisfaction among participants.

Beyond a tradition that millennials seem to prefer because we laugh at anything that is truly traditional, ugly sweater They have become an interesting year-end business opportunity. For example, Mercado Libre reports that the search for and purchase of ugly sweaters on its platform has doubled year on year since 2014. They have become so popular in recent years that Mercado Libre reports a 500% increase in requests for this product over the past five years.

As?

You can make an initial investment in platforms like Mercado Libre (where you can find over a thousand options) or create your own collection like Alex Siorda from Guadalajara, who wrote a line that answers family’s uncomfortable questions during the vacation.

You can use craftsmen from well-known places like Chiconcuac, where 100 craftsmen from this community in the state of Mexico are devoted to weaving wool.

Mercado Libre reports a 500% increase in inquiries for this product over the past five years / Image: Mercado Libre

A case of success

This sticky Christmas sales trend is so much that Nick Morton and Evan Mendelsohn, two friends from San Diego, California, saw the opportunity to capitalize on this trend and started Tipsy Elves, a website that sells sweaters with designs that are deliberately hideous. .

The two friends started this business as a part-time inflow of money while continuing their normal professions (Mendelsohn as a lawyer and Morton as an endodontist), but by the end of 2011 they had already sold 6,000 sweaters.

The two entrepreneurs even took part Shark tank in 2013 and received an investment of $ 100,000 in exchange for a 10 percent stake in Tipsy Elves.

Eventually, Mendelsohn and Morton quit their jobs and expanded their range to include ugly sweaters, t-shirts, accessories and sweaters for Valentine’s Day, St. Patrick’s and other festivals. Today the annual profit exceeds $ 10 million.

And you, would you dare to deal with ugly sweaters?

With information from Peter Gasca

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