Expedition Subsahara sells woven baskets and other handmade home decor inspired by her hometown. Sophie Secker pitched her business on Season 14 of Shark Tank, but no deal was struck. In 2024, Expedition Subsahara is valued at $3 million.
Background of Sofi Seck
Sophie Seck is originally from Senegal and moved to the United States at the age of 14. Her family settled in Florissant, Missouri, and she attended the University of Missouri-St. Louis.
Sek is proud of her heritage, as she was born into the Wolof tribe. As part of the Jollof Empire, they were famous for international trade and weaving in the 14th to 16th centuries.
Her mother and grandmother passed the tradition on to their children. Before starting her own business, she was a photographer.
Sub-Saharan Expedition established
The Senegalese native stopped working out after suffering a serious back injury from weightlifting, which left her bedridden for months, during which time she came up with the idea for an expedition to the Sahara Desert.
After getting back on her feet, Sophie founded the company in 2017 and employs more than 120 experienced weavers in Senegal to create beautiful baskets, vases and other decorative items.
The venture is more about making money, as Sophie has pledged to donate 20% of her earnings to build a STEAM school for girls in her home country.
Appeared on Shark Tank
Sophie had no plans to be on TV, but one day she stumbled upon an email from a producer on Shark Tank asking for more details about her company. She was a big fan of the show and couldn’t turn down the opportunity. After a few interviews and some boring paperwork, the entrepreneur was hired.
Shark Tank Appearance
Sophie was visibly nervous during her presentation and spoke quickly. Perhaps it was because she wanted to get a 10% stake for $500,000. The company has $900,000 in sales so far this year and $3.6 million in cumulative sales.
The sales figures wowed the sharks! In 2021, Sahara Expeditions made $1 million in gross profit, but a net profit of $75,000 because she reinvested most of her earnings into the business.
The Sharks didn’t like how their employees were paid, and customer acquisition costs were high. Additionally, the valuations weren’t justified, and the Sharks weren’t getting a return on their investment.
After Shark Tank
Although the promotion did not go as planned, fans of Shark Tank supported her mission. In an interview with BizJournals.com, Sophie revealed that they experienced record sales after the episode aired. The company is also working to reduce paid marketing costs, having spent $400,000 on digital marketing in 2022. In 2022, Expedition Subsahara made over $1 million in revenue and is worth an estimated $3 million.
Their product range is expanding and they currently sell baskets, vases, coasters, trays and vases. Prices range from $39 to $135. In the past, Sofi has had no trouble getting publicity and this has not changed.
After the show, Secker revealed that several people contacted her about investing in her company. In January 2024, Yahoo included them in its list of “41 Black-Owned Home Brands to Take Your Space to the Next Level.”
You can buy its products on its website, ExpeditionSubsahara.com. One of Expedition Subsahara’s best-selling products is the Yata Basket, which has 20 reviews on its website and a 5-star rating. Sofi plans to enter the retail industry in 2024 and hopes to open a girls’ school in Senegal.
Categories: Shark Tank
Source: dut.edu.vn
