|SEASON 1 EPISODE 8|
|Pitch||Stuffed pets with a hidden compartment for storing little treasures|
|Asked For||$150,000 for 20%|
|Deal||$150,000 for 60%|
|Shark||Barbara Corcoran and Daymond John|
|Status||OUT OF BUSINESS|
What is Treasure Chest Pets?
Treasure Chest Pets were fluffy animal toys that were majorly meant for children. The Treasure Chest Pets were quite ingenious; apart from being toys, they could be used as organizers, and they also had special pockets that could store kids’ toys. The toys were adorable, making them a natural choice to buy for kids.
Who Owns Treasure Chest Pets?
Lisa Lloyd is credited with founding Treasure Chest Pets. However, the actual creator was Sandra Castillo. Ms. Castillo reached out to Ms. Lisa (owing to her previous success) to help her publicize the product. Once an arrangement had been made, Ms. Lisa became the face of Treasure Chest Pests until it went out of the market in 2012.
As mentioned, not many people know that Sandra Castillo is the actual owner of Treasure Chest Pets. She hedged on Lisa Lloyd, who was an already accomplished entrepreneur, to push the product to success. Once a deal had been made, she gave Ms. Lisa the license to sell the product, pushing for further patents to protect Treasure Chest Pets.
Before becoming this dynamic duo, Ms. Lisa and Ms. Castillo were already budding entrepreneurs in their own right. The license agreement between the two bode well for the company, spurred the company to produce beautiful products. Treasure Chest Pets products also had multiple utilities; they could be used as toys, pillows, and organizers. While appearing on Shark Tank propelled Treasure Chest Pets, the 2008 global recession and other companies passing off their products as Treasure Chest Pets led to the company winding up in 2012.