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Wondry was a company that appears on Shark Tank tonight, trying to lure in the sharks with a unique cocktail experience. However, would this be enough to sell the sharks on the product, so the company can continue to grow?
Here is a look at Wondry wines on Shark Tank and where you can buy it.
What are Wondry wines on Shark Tank?
Chaz Gates and Whitney Gates brought their Wondry wines to Shark Tank looking for investors. The duo wanted $185,000 for an 8% equity in their company. This led the sharks to want to hear more, including their past financial history and the business idea behind selling their wines.
This was a risky one because there are plenty of cocktail wines already on the market. Kevin O’Leary was instantly interested as a wine expert. He wanted to know their price point. The duo told him they sold it for $18.99 and had both retail and direct-to-consumer sales. They make a single bottle for under $4 and retail stores buy them for just under $14.
After just opening a year prior, they expected a net profit of $60,000 on over $20,000 in sales that first year. That is a 25% net profit margin.
This led Mark Cuban to make the offer. He offered up $225,000 in exchange for 15% equity. That was a lot more money than they asked for in exchange for higher equity, and they quickly accepted the deal on Shark Tank.
Where to buy Wondry wines from Shark Tank?
Wondry wines promise to blur the lines between premium wine & craft cocktails. It is advertised as a beautifully-balanced, heightened alcohol experience. It has a distinctive collection of cocktail wines & creams, that infuse organic fruits & extracts for a unique flavor experience. The cocktail wine is also aged in small batches, crafted for any occasion.
As for where to buy it, when it comes to direct-to-consumer sales, the website address is wondrywine.com. When going to the site and verifying your age, there is an instant 10% discount offered in exchange for your email address. Online, people can buy digital gift cards to give to people starting at $25.
The wine cocktails are varied. There are several flavors and sizes for different prices. Examples include Sangria Especial for $21, Mango Passion Spritz for $26, and Sweet Red Blend for $23. There is also a Shark Tank Collection for $65, featuring Sangria Especial, Vanilla Caramel Cream, and Peach in Peace.
Fans can also buy this in stores. Wondry wines are available at Target stores in Texas. There are also several liquor stores in Texas that sell the products. However, there do not appear to be any locations outside the Lone Star State that sell Wondry.