Wine is among the most popular alcoholic drinks people consume around the world. People from young adults to old age, everyone loves drinking wine.
Whether it is a house party or office gathering, wine is something that is not avoidable. However, drinking your favorite wine while traveling might be a hassle as wine glasses are quite fragile.
So, if you are worried about getting your favorite wine while on the road, then Zipz Wine can be a go-to product.
ZIPZ Wine is a single serving wine glass featuring a goblet design. Zipz wine comes prepackaged plastic wine glass, which is shrink-wrapped. All you need to do is remove the shrink wrap, and you are ready to enjoy your wine.
Once you remove the shrink wrap, the zipz wine glass is almost similar to the regular wine glass. These wine glass features screw lids to store wine inside them.
You can purchase different varieties of red and white wines offered by Zipz wine. Also, Zipz got the biggest deal in the history of the Shark Tank show.
What is Zipz Wine?
ZIPZ Wine is ready to drink single-serving wine glass, a perfect product for people who love to drink while traveling. The ZIPZ Wine bottle packages the wine of your choice inside it and resembles the standard wine glass.
All you need to do is remove the outside wrapper, and you can enjoy your lovely drink. The founder of Zipz wine advertises the product as a portable wine glass that does not spill or leak while traveling.
Zipz wine secured one of the highest deals on the shark tank show. Zipz Wine got an investment of $2.5 million for a 10% stake in Zipz Wine.
|Company Name||Zipz Wine|
|Product||Single Serve Wine|
|Investment Seeking||$2.5 Million For 10% stake in Zipz Wine|
|Final Deal||$2.5 Million For 10% + Right To Buy 10% At The Same Price If Exiting|
|Episode||Episode 11 Season 6|
|Business Status||In Business|
Who is the Founder of Zipz Wine?
Andrew McMurry and J. Henry Scott, two veterans of the wine industry and founder and president of Zachys Wines, founded Zipz Wine.
The founder’s primary goal was to introduce a prepackaged single-serving wine that is easy to carry and more hygienic. McMurry and Scott worked day and night on the concept and came with the zipz wine as a result.
Zipz Wine Before Shark Tank
Andrew McMurry and J. Henry Scott, the 2 veterans of the wine industries, decided to work on a single serving wine glass that can be easily carried and featured a better packaging.
The first line of designs was improper and didn’t feature any wrapping that could make wine leak from the package. Scott was focused on improving the package design.
Both the founders introduced the zipz into their packaging and developed the zipz wine in which the outer package was easily zipped off.
The zip of the zipz wine featured a dual function lid and coaster, which made the zipz wine convenient to carry and drink along with high shelf life.
How was the Shark Tank Pitch of Zipz Wine?
Andrew presented his product zipz wine on the shark tank show seeking an investment of $2.5 million in exchange for 10% of the Zipz Wine.
The sharks gave unusual reactions listening to the amount Zipz wine founder asked for the investment in their product.
The founder of Zipz Wine explained that Zipz is a packaging and licensing company that provides an alternative to disposable bottles and glasses packed with wine for easy serving. Andrew unzipped the outer cover to display the goods.
Andrew explains that the covering of the Zipz Wine packet protects the wine from UV light. Andrew unscrews the glass’s cap and attaches the lid to the bottom to demonstrate the glass’s dual purpose as a coaster.
James Martin appeared twice on the show with a similar product named “Copa-di-vino” and declined both times to work with the tanks.
Andrew informed sharks that more than 25 investors were ready to invest in zipz wine and had promised them an investment of $8.5 million.
Andrew says that the investors are primarily Wall Street professionals and include three professional sports franchise owners. The Zipz wine has generated $650,000 in revenue since it was launched, says McMurry.
You can purchase Zipz wine from any of the 1200 outlets sold throughout the United States. The founders are looking forward to securing a distribution deal with Costco.
O’Leary and all the other sharks emerge eventually. Kevin explains that lowering the price of the product will allow him to obtain his Costco merchandise.
Andrew responds that the package can be altered. Kevin O’Leary accepts the offer because he retains the option to purchase an additional 10% stake as part of the exit.
For example, if the company was valued at $50 million, O’Leary may purchase 20% of the company for $10 million.
Andrew McMurry secured a $2.5 million investment, making it the show’s largest acquisition to date.
Final Deal: An investment of $2.5 million for a 10% stake in Zipz Wine by Andrew McMurray.
What Happened To Zipz Wine After Shark Tank?
The founders of Zipz Wine secured one of the highest deals on the Shark Tank Show. However, the future of the company was not as bright as the sharks predicted during the show.
The founders of zipz wine faced various challenges post shark tank show. One of the most important ones was that they were unprepared for the increased sales volume and customer demands and couldn’t cope.
Andrew and Kevin had a tour of the facilities, marveling at the automated filling line that filled each glass from the bottom, eliminating oxidation. Zipz also secured a national partnership with Arctic Beverage. Chillin is the company’s Chilean wine line.
According to Andrew, their duty was now to concentrate on the packaging and royalties collection. It was critical to secure a national partner due to the piggyback effect of other brands.
As Zipz found its way onto shop shelves where Chillin was already available, other wineries would also be interested in participating.
For Andrew, this was about grandiose concepts. Zipz was destined to be his legacy. After decades in the wine industry, he was determined to leave a lasting impression. “You have performed admirably, grasshopper.
You’ve concentrated on royalty,” Kevin commended. Andrew and the other members of Zipz have ensured their futures in the wine and packaging industries by altering their business model.
Zipz Wine ceased its wine-making business and shifted its entire focus on licensing deals. You can buy zipz wine packets in various stores around the country and order them from eCommerce websites such as Amazon and Walmart.
Who are the Investors in Zipz Wine?
According to the founders of Zipz Wine, 25 investors in Zipz Wine in 2014 invested $8.7 million. Andrew invested $2.5 million for a 10% stake in Zipz Wine on the Shark Tank show, which would be worth $25 million by 2014.
Andrew revealed that most investors were Wall Street professionals, including the owners of three professional sports teams.
How Does Zipz Wine Make Money?
The company’s founder, McMurry, mentioned that they were in the wine business and the licensing industry on Shark Tank.
Zipz Wine products are sold in 1200 stores across the country and have generated $650,000 in revenue each year since it was founded.
Their product was sold at sporting events and six stadiums after joining forces with Fetzer. Andrew also stated that they were in discussions with other wine brands, including Yellow Tail.
On an episode of Beyond the Tank, the company announced that it would be leaving the wine business and focusing solely on its Zipz packaging business.