Wondry Shark Tank Update | Wondry Net Worth

Wondry Wine is a company that appeared in episode 06 of season 14 of Shark Tank. They offer a range of semi-sweet, fruit-infused cocktail wines with a higher alcohol content. 

Their wines are made with 100% natural ingredients and infused with organic berries, citrus, and exotic fruit extracts without artificial additives. Wondry Wine focuses on crafting wines with a kick, which is why its products have an alcohol content of 13.9%.

Whitney and Chaz Gates, a married couple with impressive backgrounds, founded Wondry Wine. Chaz is a practicing attorney who worked in New York before returning to their hometown in Dallas, Texas. 

Whitney has an MBA from Washington University and has worked at major consumer product companies like 7UP and Coca-Cola. Whitney came up with the idea for Wondry Wine after she was reminded of her uncle’s fruit wines as a child.

Inspired by his homemade creations, she decided to pursue winemaking herself. Whitney taught herself about winemaking, studied viticulture at Grayson College, and eventually launched Wondry Wine in August 2020.

Wondry Wine offers unique, semi-sweet, fruit-infused cocktail wines with higher alcohol content. Their natural and flavorful wines have gained popularity and positive reviews from customers.

InformationAnswer
Company NameWondry Wine
FounderWhitney Gates and Chaz Gates
Product100% natural & infused with organic berry, citrus & exotic fruit
Investment Seeking$185,000 for an 8% equity
Final Deal Accepted$225,000 for a 15% equity
EpisodeSeason 14, Episode 06
Business StatusIn Business
WebsiteVisit Website
Net Worth$2 Million

What Is Wondry?

Wondry is a brand that offers a unique and elevated wine experience. They specialize in crafting cocktail wines that deliver a heightened alcohol experience with a succulently smooth finish. 

Unlike cheap and sugary wines, Wondry’s cocktail wines provide a delightful flavor and a satisfying buzz. Wondry uses only natural and organic ingredients to make their products.

They believe in using real fruit extracts and avoiding artificial additives, creating an aromatic and fruity wine adventure that stands out. Wondry offers high-quality wines that are crafted with care and attention to detail.

Wondry Shark Tank Update | Wondry Net Worth

Wondry also prioritizes convenience. They small-batch craft, bottle, and ship their wines directly to your doorstep from the heart of Texas. They even go the extra mile to help subsidize wine delivery’s often expensive shipping costs.

Wondry aims to create a premium wine experience that is accessible to all. They believe that everyone should enjoy great-tasting wine without any sense of pretentiousness or exclusivity.

Their mission is to make wine more approachable and welcoming so all wine enthusiasts can enjoy exceptional wines. Wondry is a brand that offers cocktail wines with heightened alcohol content and a smooth finish.

They prioritize using natural and organic ingredients and strive to make the premium wine experience accessible. Wondry redefines how we enjoy and appreciate wine with its convenient delivery service and commitment to inclusivity.

Who Is The Founder Of Wondry?

The founders of Wondry Wine are Whitney and Chaz Gates. Whitney has a degree in marketing from Washington University in St. Louis and an MBA in brand management from WU’s Olin Business School.

She gained valuable experience during her 13 years in the Food & Beverage industry, working for companies like Coca-Cola, Nestlé Purina, and General Mills. 

Whitney also taught herself the winemaking process, drawing from the lessons learned in her uncle’s garage and her studies in enology at Grayson College in Texas.

On the other hand, Chaz has a degree in communications from the University of Arkansas and a master’s degree in government from Johns Hopkins University. He started his career in banking and later became a policy advisor to the US Congress, focusing on trade, homeland security, and foreign affairs in Asia. 

Chaz pursued a Ph.D. in law from the American University Washington College of Law and the Chinese University of Hong Kong. Before starting Wondry Wine, he worked as an in-house attorney for Texas Instruments.

The idea for Wondry Wine was conceived when Whitney and Chaz reflected on their fond memories of community gatherings centered around wine, where all were welcome, and the wine was made with fruits and vegetables instead of grapes. 

They were inspired to reimagine the wine experience and create more innovative, approachable, and stronger wines. They wanted to break the glass ceiling in an industry where less than 1% of American winemakers are Black.

Before appearing on Shark Tank, Wondry Wine had already established itself as a unique and innovative brand. They focused on producing semi-sweet wines crafted from all-natural, organic berry, citrus, and exotic fruit extracts with a higher alcohol content.

Their wines were known for being perfectly balanced, luxuriously smooth, and enchantingly aromatic, providing an indulgent sensory adventure.

Wondry Wine has also created a line of fruit-infused wine and cream collection, offering flavors like Sangria Especial, Watermelon Rosé, Peach in Peace, Coastal Fruit Infusion, Cran-Apple en blanc, Forbidden Fruit, and Mango Passion Spritz.

They also developed Southern Country Cocktail Creams such as Sweet Hazelnut, Strawberries and Cream Colada, and Vanilla Caramel Cream.

The founders aimed to create diversity within the wine industry and customer base while leaving a legacy for their children. They believed little innovation had occurred in the variety of wines available compared to spirits, beer, seltzers, and ciders.

Wondry Wine aimed to bridge this gap by offering diverse full-body flavor options in a healthy, preservative-free product. Additionally, they committed to donate a portion of every purchase to support under-represented entrepreneurs and overlooked consumers, promoting unity and inclusiveness.

By the time Wondry Wine appeared on Shark Tank during Season 14, Episode 6 on November 11, 2022, they had already garnered recognition for their exceptional wines.

They had won multiple awards at the Lone Star International Wine Competition, including silver medals for Sangria Especial, Peach in Peace, and Sweet Hazelnut Cream in 2022.

Their Mango Passion Spritz had previously won awards in 2021 and 2022, while Watermelon Rosé won an award in 2021. They also received a bronze medal for their Sweet Red Blend in 2022.

Wondry Wine had established itself as an innovative, inclusive brand that created unique flavors and experiences while supporting diversity within the wine industry.

How Was The Shark Tank Pitch Of Wondry?

During Season 14 of Shark Tank, entrepreneurs Chaz Gates and Whitney Gates presented their business idea called Wondry. They were seeking an investment of $185,000 in exchange for 8% equity in their company, which specializes in cocktail wines.

Wondry Shark Tank Update | Wondry Net Worth

The sharks showed interest in Wondry’s cocktail wines and allowed the couple to present their business idea and discuss the financial history of their company.

The founders revealed that they were selling their wines at a price point of $18.99 through both retail and direct-to-consumer channels.

The cost per bottle for Wondry was just under $4, while retail stores purchased the bottles at just under $14, resulting in reasonable profit margins.

Despite operating for less than twelve months, Wondry had achieved impressive results. The company reported over $250,000 in sales for the past year and expected a net profit of $60,000, indicating a net profit margin of approximately 25%.

Mark Cuban, one of the sharks, offered $225,000 for 15% equity in Wondry. Chaz and Whitney Gates accepted his offer, making Mark Cuban their partner. This offer represented an increase in investment amount and equity compared to the founders’ initial ask.

Below is a table summarizing the Shark’s names, the investment they offered, the counteroffer by the founders, and the final deal accepted:

SharkInvestment OfferedCounter Offer by FoundersFinal Deal Accepted
Mark Cuban$225,000NoneYes

Since appearing on Shark Tank, Wondry has experienced a significant boost in sales. The partnership with Mark Cuban is expected to benefit the company’s growth further.

The company continues to sell its high-quality cocktail wines through its website, and updates on Wondry’s progress are eagerly anticipated.

Did Wondry Get a Deal on Shark Tank?

Yes, Wondry Wine did get a deal on Shark Tank. In Season 14, Episode 6 of the show, founders Whitney Gates and Chaz Gates pitched their company and asked for $185,000 in exchange for an 8% equity stake.

While some sharks declined to invest, Mark Cuban offered $225,000 for a 15% equity stake. After a brief negotiation, the entrepreneurs accepted Mark’s offer. Since the show, Wondry Wine has continued to operate and grow its business.

What Happened To Wondry After Shark Tank?

After appearing on Shark Tank in November 2022, Wondry Wine experienced a significant boost in its business. The episode generated immense interest and resulted in the company selling out of every product within just 24 hours.

Chaz and Whitney Gates, the founders of Wondry, struck a deal with Mark Cuban, which officially closed on March 30th, 2023.

Wondry Shark Tank Update | Wondry Net Worth

After their show appearance, Wondry Wine’s popularity soared, and their sales skyrocketed. By November 2023, they had achieved $1.1 million in lifetime sales.

The company expanded its distribution network and secured partnerships with Target, Costco, and small independent retailers. They also established an online presence through their website, WondryWine.com.

The positive response from customers has been overwhelming, with most of their products receiving 5-star reviews on their website. This positive feedback has contributed to the continued growth and success of Wondry.

In January, Wondry Wine signed a significant 10-year distribution deal with Southern Glazer, further expanding their reach. Additionally, the company is expanding its presence by opening stores in Arkansas.

Overall, Shark Tank’s appearance catalyzed Wondry’s business, boosting sales, increasing brand recognition, and attracting valuable partnerships. Wondry Wine is valued at $2 million and thrives in the market.

Wondry Shark Tank Update

After appearing on Shark Tank in Season 14 Episode 6, Wondry Wine received an investment from Mark Cuban. Mark invested $225,000 in the company for a 15% equity stake.

Despite the other sharks declining the opportunity to invest, Wondry Wine continued its business operations.

Since the show, Wondry Wine has focused on growing its presence in the natural wine market. The company’s products, made using natural organic fruits and have low alcohol content, have gained popularity in the Dallas area.

Wondry Wine generates sales through both direct-to-consumer (D2C) and retail channels. It has partnered with major retailers such as Target and Total Wine & More.

The company offers a variety of flavors, including peach, apple, mango, and more, with prices ranging from $14 to $99 per bottle.

While the net worth of Wondry Wine is estimated to be around $60,000 based on previous sales reports, the business is still active.

The company continues to work on expanding its distribution and reaching a wider customer base, aiming to make its natural wines available in big-box stores like Costco.

With Mark Cuban’s investment and network of contacts, Wondry Wine has the potential for further growth and success in the natural wine industry. 

The company remains focused on producing natural wines without artificial ingredients and continues to be led by co-founders Whitney Gates and Chaz Gates.

Is Wondry Still In Business?

Yes, Wondry Wines is still in business. Founded by Chaz and Whitney Gates, Wondry Wines offers innovative, fruit-infused wines with a sweeter taste and higher alcohol content. Their products are crafted from natural and organic fruit extracts without artificial flavoring.

Wondry Wines has gained recognition and success, receiving positive reviews from customers and winning silver and bronze medals at the Lone Star International Wine Competition in 2021 and 2022.

Wondry Shark Tank Update | Wondry Net Worth

Their revenue has grown significantly, and their products are now available in Target and Total Wine stores. Customers can purchase Wondry Wines online, in physical stores, or through their website.

The company also plans to support other black-owned businesses with a portion of their profits. Wondry Wines is expected to continue growing due to its ongoing success.

What Is the Net Worth Of Wondry?

According to our research, Wondry’s net worth is estimated at $2 million. The valuation of Wondry was $1.5 million after securing an investment from Mark Cuban on Shark Tank season 14.

Also, read about other businesses that appeared on episode 06 of Season 14 of Shark Tank:

3/5 - (4 votes)
2 Shares: