Wondry Wine Shark Tank Update (Season 14)

Founders Whitney and Chaz Gates appeared on Shark Tank Season 14, Episode 6, seeking $185,000 for an 8% equity stake, valuing their company at $2.3 million.

Wondry Wine is a natural wine made from organic fruits and features very low alcohol content. It is available in various flavors, including peach, apple, and mango.

Their cocktail wines retail at 48 stores across the United States, with prices ranging from $15 to $24, depending on the flavor.

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Who Is The Founder Of Wondry?

Whitney and Chaz Gates are the co-founders of Wondry Wine Company, which they started in Texas in 2021.

Whitney Gates

Whitney serves as the Co-Founder and Chief Executive Officer. She earned her marketing degree from Washington University in St. Louis, where she also completed her MBA.

Following her studies, Whitney worked as a Business Planning Associate at General Mills for two years before joining The Coca-Cola Company, where she spent three years, including one year as a Senior Brand Manager. She then spent approximately three years at Keurig Dr Pepper Inc. as a Brand Manager.

How Was The Shark Tank Pitch Of Wondry Wine?

Whitney and Chaz Gates entered Shark Tank with their company, Wondry Wines, seeking $185,000 for an 8% stake. They presented their product in a unique and engaging way, impressing the sharks.

The sharks sampled Wondry Cocktail Wines and enjoyed the taste, noting that the wines are made using premium organic ingredients. The retail price of their wines ranges from $14 to $99.

Wondry Wines generates sales through both direct-to-consumer (D2C) channels and retail partnerships, currently collaborating with major retailers like Target and Total Wine & More. One bottle of Cocktail Wine has a manufacturing cost of $3.61 and retails for $13.30, indicating a strong profit margin.

Since launching in August 2021, the company sold $250,000 worth of products in 11 months, achieving a profit of $60,000 and a 32% operating margin.

Daymond John expressed that he’s not a wine expert and thus decided to bow out. Lori Greiner also declined, stating that it wasn’t the right investment for her. Peter Jones felt the business wasn’t suited for him, emphasizing the challenges of the wine industry.

Mark Cuban, however, offered $185,000 for a 15% equity stake. Whitney countered with a request for $250,000 for the same equity. Mark then adjusted his offer to $225,000 for a 15% equity, which Whitney accepted.

Finalize: Mark Cuban invested $225K in “Wondry Cocktail Wines” for 15% equity.

Wondry Shark Tank Update

The standout company from Shark Tank Season 14, Episode 6, is Wondry Wines. Although all the sharks except Mark Cuban declined to invest, Mark offered $225,000 for a 15% equity stake, valuing the company at $1.5 million.

The natural wine market is currently experiencing significant growth, with many new brands emerging. For Wondry Wines to thrive, securing placement in big-box retailers like Costco—one of the largest retail brands in the world—would be crucial.

Shark Daniel Lubetzky expressed interest in the couple’s wine business, while many viewers on Twitter were impressed by the wine’s natural ingredients and showed enthusiasm for trying it out.

The entrepreneurs delivered an effective pitch, showcasing their commitment to creating a natural wine free from artificial ingredients. With Mark Cuban as a partner, they stand to benefit from his extensive network to further grow their wine business.

We’ll continue to follow Whitney Gates and Chaz Gates for updates on their journey.

What Is Wondry Net Worth?

Wondry Wines is priced competitively and primarily sold in the Dallas area. For the brand to increase its sales, it should aim to be available in restaurants and bars across the United States. Based on historical sales reports, Wondry’s estimated net worth is around $500,000.

The founder of this wine company is from the Black community, highlighting that only 1% of winemakers belong to this demographic. Whitney, the co-founder, and her family have a long history of making homemade wine, and she even taught her uncle the craft.

Yes, Wondry Wine is still in business as of April 2024.