Turning A Family Tradition Into A Multi-Million Dollar Business
Before The Elf On The Shelf hit stores in 2005, it was a family tradition in Chanda Bell's family for decades. Now, more than 11 million elves have been adopted all around the world. Bell, the company's Founder and CEO, explains how she and her family turned their holiday tradition into a viral phenomenon.
When Bell and her mother decided to publish the story behind their family tradition, they pitched it to a number of publishers. After getting turned down from every one they spoke with, they decided to publish the story themselves. Now, 13 years later, that story has become a Christmastime favorite for millions of children.
Bell says that there were a number of challenges getting the company off the ground beyond taking on debt to fund it. Neither she nor her mom or sister had business backgrounds, but Bell says they learned quickly.
Apple CEO Tim Cook said Thursday that the majority of iPhones sold in the U.S. in the current fiscal quarter will be sourced from India, while iPads and other devices will come from Vietnam as the company works to avoid the impact of President Trump’s tariffs on its business. Apple’s earnings for the first three months of the year topped Wall Street’s expectations thanks to high demand for its iPhones, and the company said tariffs had a limited effect on the fiscal second quarter’s results. Cook added that for the current quarter, assuming things don’t change, Apple expects to see $900 million added to its costs as a result of the tariffs.
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