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Business idea: Jibbitz

Video: http://www.msnbc.msn.com/id/26526805#24291692

It started when sheri and her children were having fun with arts and crafts at home, she stuck a silk flower through a hole in a pair of crocs. She thought it looked cute and then found other things. When Sheri’s husband came home and saw his family accessorizing their shoes, a light bulb went over his head. Sheri and her husband ran with the idea and realized there were alot of cros roaming the streets with no accessories. They bought other objects such as hearts and happy face at craft stores and glued them onto cufflink. Then struck the cufflink into their children’s crocs and send them to school. Soon, orders for jibbitz followed and their business quickly took over the family’s basement. Sheri launched a website, and after just two weeks,she was swamped with requests for jibbitz. Retailers caught on and began ordering hundreds at a time. WIthin twelve months, Jibbitz were sold to more than 3,000 stores. They later sold their business to the founder of crocs for $10 million with an extra $10 million if they meet sales goals. Their business is still booming and they plan on launching line of wristband, hats, belts and purses in the future.

more about Jibbitz: http://www.readersdigest.com.au/life/the-accidental-entrepreneur/article91637.html

website: http://www1.jibbitz.com/store/

May 13, 2008 - Posted by | Business, Life, Million dollars Idea, Millionaire, Television, Uncategorized, Youtube | , , ,

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