Here's What Went Down With Love Is Project After Shark Tank
Chrissie Lam is all about giving back. So much so that she designed a whole business around the concept. That business is the Love Is Project, which creates job opportunities for women around the world while also giving back to communities who need it. Those women create handmade bracelets, which Chrissie then sells on to other people across the globe. "My 'Aha!' moment came when visiting the Maasai Mums in Ngong, Kenya. Inspired by the bold colors used by their tribe, I designed a simple bracelet featuring the word LOVE in traditional Maasai beadwork," Chrissie explained to Reconsidered. "I had the equally simple goal of helping to create jobs for their community."
The concept then went viral on social media as she began documenting on Instagram what the concept of love meant to people around the world. She also shared photos of the people who made the bracelets, alongside a quote from them. "The grassroots support of influencers spreading the word validated the 'LOVE Bracelet' concept and product-market fit, convincing me to create the stand-alone brand now known as The Love Is Project," she shared. Determined to get the word out about her movement to as many people as possible, Chrissie decided to take her business on "Shark Tank" to get further funding to create more bracelets and offer more jobs to those in need.
Love Is Project didn't land a deal on Shark Tank
During Season 12, Episode 10 of "Shark Tank," Chrissie Lam and her mom, Gladys Lam, took Love Is Project in front of the Sharks, consisting of Mark Cuban, Kevin O'Leary, Lori Greiner, Barbara Corcoran, and guest Shark Alex Rodriguez. The two were looking to swap 5% of Chrissie's company for a $250,000 investment in their bracelet business. The mother-daughter team impressed the Sharks with the concept, as well as Chrissie's number of sales. Chrissie revealed that, to date, the business had sold around $4 million worth of products, much of which the entrepreneur had donated to charities.
Chrissie explained that she had a bit of a rocky time with the business. She revealed that she'd spent a lot on advertising on Facebook, which had put the company into $582,000 of debt, including business loans. However, Chrissie explained that she'd worked on her digital marketing to keep the business afloat — even managing to double her revenue compared to the year prior.
But, sadly, Chrissie's efforts to pull Love Is Project back from the brink weren't enough to impress the Sharks to the extent they were willing to part with their cash. Cuban, O'Leary, Corcoran, and Rodriguez all made it clear that they had reservations about the company and its cash flow, with none offering Chrissie the money she was looking for. With that, she left the Tank empty-handed.
Chrissie Lam didn't let a no from the Sharks stop her big business dreams
Chrissie Lam wasn't about to let a no from the Sharks stop her from continuing with her ethical business. Writing on Love Is Project's blog after leaving the Tank sans investment, Chrissie shared, "Are we disappointed that we're now considered a 'Shark Tank' deal that failed and that we didn't get to partner with a Shark? Sure. Will it slow us down? NEVER!!!" She added, "I've been told 'no' before and I've certainly been underestimated, but I always (happily) prove them wrong."
Chrissie also explained how she planned to keep the business expanding, even without the Sharks' involvement or a cash injection. "It's often said that it takes money to make money. Now that we've invested thousands into building a global supply chain, we're ready to scale," she wrote. "Building an international brand requires a tremendous investment, one that I'm grateful I've been able to make." And it seemed like Chrissie was willing to do whatever it took to keep going with Love Is Project.
Love Is Project is still creating opportunities around the world today
Through its mix of social media promotion, heart, and bracelets, The Love Project is still in business as of December 2023, proving, much like Liberate did, that entrepreneurs don't always need a yes from the Sharks to continue on. According to Chrissie Lam's LinkedIn, Love Is Project has created more than 2000 jobs across 10 countries, which has resulted in more than $10 million in revenue since 2017. Chrissie herself has also made big moves as an entrepreneur. In 2021, she was included on Forbes' The Next 1000 list for social entrepreneurs.
In addition to the several bracelets now on sale via Love Is Project's website, the brand has also expanded to sell a wide range of different accessories to those looking to make a fashion statement and a difference. New stock added to the collection includes necklaces, bags, charms, and even face masks. The company has also continued to expand its social media presence since its TV splash. On Instagram, it has more than 30,000 followers, as well as more than 54,000 followers on Facebook.
Chrissie Lam has plenty of ideas to keep expanding Love Is Project
It sounds like Chrissie Lam has plenty of ideas up her sleeve to keep Love Is Project growing following her "Shark Tank" disappointment. One of those big ideas in development? A photo book based on her movement, which the entrepreneur started a Kickstarter to raise funding for in October 2022. "This book is a collection of stories from my last five years of travel and work with female artisans around the world. It encapsulates so much of what makes The Love Is Project meaningful," she explained to Reconsidered. As of December 2023, the Kickstarter campaign had raised over $31,000 and is available for pre-order.
"At the end of the day, our mission will always remain the same: harnessing the meaning of LOVE to create economic opportunities for thousands and empower millions around the world. From launching with just one bracelet, we have already evolved into a standalone jewelry brand that provides the opportunity for agency to over 2000 female artisans in underdeveloped countries, while also creating an accessible, on-trend brand," Chrissie added. "Every day we are proving that brands developed sustainably and for social good can still be mainstream and profitable."