Products USA: Pin Caddy Declined

Declined Pin Caddy Details:

Pin Caddy (sewing pin holder/dispenser).

Pin Caddy (sewing pin holder/dispenser)

Details about the Pin Caddy and why we rejected it!

This product came to our attention via an ad placed by an inventors' group. The inventor of the product had designed an ingenious holder for straight pins that, when pushed on its top, dispensed a pin that could easily be grasped between finger and thumb. The inventor had licensed the Pin Caddy to Tupperware, which had then made multiple cavity tooling for its production. For years, Tupperware sold the Pin Caddy to notions buyers in many different marketing channels.

Eventually, sales dried up and royalties stopped coming in to the inventor, so all rights went back to him. He then approached us to continue with the product. But before we made a commitment to him, we did our "due diligence" by visiting many retail outlets searching for similar products. Very quickly we discovered that a similar product was being made in Asia, except it had a superior design - and was sold at half the suggested retail price. We therefore declined the product.

Lesson learned: Always do sufficient market research first.

General Notes:
*We only work with a very few, highly selected products at one time.
*There is no cost to the inventor unless we produce results!