"As seen on 'Shark Tank'" may become the new "As Seen on TV" plug, especially if more products like Ava the Elephant — a pediatric medical dispenser that talks to children as its dispensing the medicine — make it to market.
Mom and entrepreneur Tiffany Krumins appeared on the pilot show of ABC's "Shark Tank" and talked real-estate mogul Barbara Corcoran into investing $50,000 into the product concept.
Krumins, CEO of Ava the Elephant, created the first Ava out of sponges, fabric and a store-bought medicine dispenser. Today Ava the Elephant is available in more than 10,000 retail stores — including CVS/pharmacy, Kroger and Safeway — and has additional online representation in time for the busiest traditional cough-cold season since the 2007-2008 season. Sales of cough syrups, for example, are up 10.8%, reaching $149.1 millon for the 12 weeks ended Dec. 30, 2012, across all U.S multi-outlet retailers, according to SymphonyIRI Group.
But Krumins hasn't stopped there. On the Feb. 8 episode of "Shark Tank," Krumins unveiled a thermometer sticker for children.
The article above is part of the DSN Category Review Series. For the complete Cough-Cold Sell-Through Report, including extensive charts, data and more analysis, click here.