I Love Chamoy Shark Tank Update | I Love Chamoy Net Worth

I Love Chamoy is a fast-growing company founded by Annie Leal that appeared on Episode 05, Season 15 of Shark Tank. The company produces sugar-free chamoy condiments, offering a healthier alternative to the traditional treat. 

Chamoy is a popular sweet, sour, and spicy Mexican condiment used in many products. I Love Chamoy’s sugar-free version is not only suitable for individuals with diabetes, as Annie Leal’s father’s struggle initially inspired it with the condition, but it has also evolved to cater to a broader audience by becoming carbohydrate- and allergen-free, making it keto-friendly. 

The product’s nutritional profile has been improved based on user feedback, incorporating natural ingredients like monk fruit and hibiscus powder while reducing sodium significantly. 

These features make I Love Chamoy an attractive choice for those seeking a healthier option without compromising flavor and versatility. 

Its success on social media, with viral videos and a large following on platforms like Instagram and TikTok, has also contributed to its popularity, connecting the company with a growing customer base and influencers within the Hispanic community. 

I Love Chamoy stands out as a product that meets a specific dietary need and appeals to a broader audience looking for a delicious and health-conscious condiment option with a rich cultural background.

Company NameI Love Chamoy
EntrepreneurAnnie Leal
ProductMexican sauce without sugar
Investment Asking For$300,000 in exchange for a 5% equity in I Love Chamoy
Final DealNo Deal
SharkNo Shark
I Love Chamoy Episode Season 15, Episode 5
I Love Chamoy Business StatusIn Business
I Love Chamoy WebsiteVisit Website
I Love Chamoy Net Worth$3 Million

What Is I Love Chamoy?

I Love Chamoy is a brand that produces a variety of chamoy sauce flavors. Chamoy is a traditional Mexican condiment that is sweet, tangy, and spicy, commonly used as a dip or topping for fruits, snacks, and beverages. 

The I Love Chamoy brand offers unique flavors, including Chili Mango, Original, and Pickle. It is created with health-conscious consumers in mind, as it has no added sugar, making it suitable for people like the founder’s father who has diabetes or those looking to limit their sugar intake.

I Love Chamoy Shark Tank Update | I Love Chamoy Net Worth

I Love Chamoy is a brand of sugar-free chamoy sauce developed by Annie Leal. The sauce is a healthier alternative to traditional chamoy, a sweet, spicy, tangy, and salty Mexican condiment typically made with dried fruit, chiles, and vinegar brine. 

I Love Chamoy uses monk fruit sweetener instead of sugar and contains fewer calories, no artificial colors, and about 50% less sodium than most commercial chamoy sauces. 

It comes in various flavors, including original chamoy and chili mango, and it has gained popularity partly due to its presence on social media.

Who Is The Founder Of I Love Chamoy?

The founder of I Love Chamoy is Annie Leal. She is originally from Mexico and grew up with chamoy as a staple in her household. 

Although Annie had a background in social media and marketing rather than culinary arts, a personal family challenge inspired her to create the company. 

About ten years ago, her father was diagnosed with diabetes, and this health issue made traditional chamoy, which contains sugar, a risk for him. 

Motivated by her father’s diagnosis and the need to adjust his diet, Annie set out to develop a chamoy sauce that could be enjoyed without sugar.

Annie Leal’s idea of creating I Love Chamoy stemmed from the desire to accommodate the health needs of her father and others who may have similar dietary restrictions. 

Her determination led to 44 attempts to perfect the recipe for a sugar-free chamoy sauce. 

The journey of developing this product was shared with her online audience on TikTok, garnering significant attention and support. The initial 750 bottles of I Love Chamoy sold out in less than a week after she started selling them.

Before appearing on Shark Tank, I Love Chamoy was a family-operated business, with Annie’s father becoming the face of the brand on social media. At the same time, her mother and sister helped manage operations and finances. 

Annie’s life and the inception of I Love Chamoy were significantly influenced by her father’s resilience against diabetes and the entrepreneurial spirit of the women in her community.

This background shaped her drive to create a product that allowed a broader audience to enjoy a cultural experience without compromising their health.

The company, I Love Chamoy, became known for its sugar-free chamoy sauce before appearing on Shark Tank in Season 15, Episode 5, which aired on October 27, 2023.

How Was The Shark Tank Pitch Of I Love Chamoy?

The Shark Tank pitch for I Love Chamoy, presented by founder Annie Leal, was memorable. Hailing from Monterey, Mexico, Annie brought a cultural flair to the presentation by having a full mariachi band play the Shark Tank theme song to introduce her Mexican sweet sauce company.

Annie was seeking an investment of $300,000 in exchange for 5% equity in I Love Chamoy. Her company produces a sugar-free version of Chamoy, a traditional Mexican sauce known for its tangy and sweet flavor profile, typically used on fruits, drinks, and desserts.

Annie’s product was created as a healthier alternative that’s sugar-free, carb-free, and calorie-free, using monk fruit as a sweetener.

The Sharks sampled the sauce and were informed about the company’s impressive financials. Despite being in business for just one year, I Love Chamoy has already achieved $550,000 in sales, with year-to-date sales at $1.3 million. 

Annie projected year-end sales to be between $3.8 and $4 million, with 80-90% organic sales through social media marketing. 

The company had no debt and expected the current year’s profit to be around $1.5 million. I Love Chamoy products were already being sold in 250 stores across Texas, including HEB and Home Goods.

Kevin O’Leary offered $300,000 for 15% equity but was willing to negotiate. After a few counteroffers between Annie and Kevin, he made his final offer of $300,000 for 12.5% equity. Annie ultimately declined this offer and walked away without a deal from any of the Sharks.

The Sharks had various reactions to the product and the business proposal. Mark Cuban applauded Annie’s success but did not make an offer because the product wasn’t for him.

Barbara Corcoran expressed that she wasn’t interested in the retail expansion Annie aimed for. 

Lori Greiner complimented the product but chose not to invest, preferring to be a consumer. Guest Shark Jason Blum felt he lacked expertise in the area that Annie required assistance with and did not make an offer.

Ultimately, despite a strong presentation and significant interest from Kevin O’Leary, Annie Leal left Shark Tank Season 15 without securing an investment from any of the Sharks for her company, I Love Chamoy. 

However, after Shark Tank, the company continued to do well and saw increased sales and product awareness following its appearance on Shark Tank.

Did I Love Chamoy Get a Deal on Shark Tank?

I Love Chamoy did not get a deal on Shark Tank. The founder, Annie Leal, entered the Shark Tank seeking $300,000 for 5% equity in her company, which was a valuation of $6 million.

Although Kevin O’Leary showed interest and offered $300,000 for 15% equity, Annie countered with $350,000 for 7% and then again with $300,000 for 8% equity. 

Kevin O’Leary was willing to make a deal at 12.5%, but Annie did not agree to his terms. As a result, no agreement was finalized on the show.

What Happened To I Love Chamoy After Shark Tank?

After appearing on “Shark Tank,” I Love Chamoy gained significant momentum. Annie Leal’s business thrived following her pitch on the show, which highlighted her creation of a sugar-free Chamoy sauce using monk fruit as a natural sweetener.

The brand continued to innovate by introducing new flavors like Chilli Mango and adjusting their recipes to reduce sodium content and eliminate allergens and carbohydrates.

I Love Chamoy also won the grand prize in H-E-B’s Quest for Texas Best competition, leading to the stocking of their products in over 420 H-E-B markets across Texas and Mexico. This exposure further expanded their reach and customer base. 

The company maintained its commitment to healthier food alternatives, which helped set it apart and contributed to its success.

The brand’s online presence and community engagement remained strong, with Leal sharing recipes and usage ideas for the sauces, which resonated well with the audience. 

The products were made available for purchase on their website, with the Chilli Mango flavor becoming particularly popular.

I Love Chamoy capitalized on the exposure from “Shark Tank” and leveraged it to grow their business, continuing to provide healthier condiment options to consumers with specific dietary needs or preferences.

I Love Chamoy Shark Tank Update

After appearing on Shark Tank in October 2023, I Love Chamoy experienced significant growth and increased public interest. The publicity from the show was expected to help the company surpass its $4 million sales target for the year. 

Annie Leal, the founder, had recently discovered that her episode would air and was preparing to fulfill an anticipated surge in orders.

Despite receiving an offer from Kevin O’Leary, one of the “sharks,” Annie chose to turn it down, believing that she didn’t need a Shark’s investment and could benefit from the free advertising that came with appearing on the show.

The company’s online presence is robust, with a strong following of over 420,000 on TikTok, where they’ve used their platform to sell products and engage with their audience. 

This audience engagement led to a significant change in the product when customers advised removing synthetic food coloring; Annie listened and reformulated the sauce using hibiscus.

I Love Chamoy Shark Tank Update | I Love Chamoy Net Worth

I Love Chamoy sells their products through their website, ILoveChamoy.com, and Amazon and TikTok stores, though they were sold out on Amazon then. They have also expanded their retail presence to over 200 H-E-B locations.

Customers can choose from three flavors: Original, Chili Mango, and Pickle, with a new flavor, spicy watermelon, in the works. The products are favorably reviewed on their website, with an average of 4.8 stars from over 1,300 reviews.

The company is also improving logistics by moving shipping and handling to a new warehouse to accommodate the new flavor launch and the expected increase in order volume post-Shark Tank. The price per bottle is $12, with options to purchase packs of three or six for savings.

I Love Chamoy capitalized on its Shark Tank appearance to enhance its market position and brand recognition while gearing up for increased demand and continuing product development.

Is I Love Chamoy Still In Business?

Our research shows that I Love Chamoy is still in business. The company, founded by Annie Leal, is operating successfully. Despite not securing a deal on Shark Tank, the brand has experienced a significant increase in sales following its appearance on the show. 

The headquarters of I Love Chamoy is in the United States, and it employs between 11-50 people. The business continues to grow, selling its sugar-free Mexican sauces and expanding its product line.

What Is the Net Worth Of I Love Chamoy?

According to our research, I Love Chamoy’s net worth is estimated to be $3 million. The valuation of I Love Chamoy was $6 million, as presented by Annie Leal to seek investment from the Sharks.

Also, read about other businesses that appeared on Season 15, Episode 05 of Shark Tank: