I Love Chamoy Shark Tank Update – Net Worth, Pitch & Deal

Annie Leal, who comes from Monterey, Mexico, went on the TV show Shark Tank in Season 15 to talk about her Mexican sauce company.

Her company, I Love Chamoy, makes a special kind of sauce called sugar-free Chamoy. It’s a tasty, tangy sauce that people like to put on fruit, drinks, and desserts.

You can buy her chamoy on her website, and it’s also available in 250 HEB grocery stores across Texas. She asked for $300k for 5% in her company.

Will the investors on the show like her sauce enough to offer her a deal? Read the I Love Chamoy update to find out!

I love Chamoy Net Worth

Annie asked for a $300k investment for 5% equity in her company. Unfortunately, she couldn’t secure the deal. The company had good sales and margins. Based on the numbers and investment sought, the company’s net worth is estimated at around $6 million. After the show aired, I Love Chamoy experienced a good boost in website traffic and sales. As of today the business is still running and making money. So, as per my rough calculation, if the company managed to grow at a 10% growth rate (typical growth rate), I Love Chamoy’s current net worth is estimated at around $6.6 million.

What Happened To I Love Chamoy After Shark Tank?

After appearing on Shark Tank, I Love Chamoy continued its operations and expansion efforts. The exposure from the show likely provided them with increased visibility and opportunities for growth. This could include expanding their customer base, securing new partnerships or distribution deals, and further developing their product line.

Did I love Chamoy Get A Deal On Shark Tank?

Annie counters with $300k for 7%, but Kevin declines. He believes retail is tougher than Annie realizes and worries that bigger companies could copy her idea. Annie feels that 15% is too high, so Kevin adjusts his offer to $300,000 for 12.5%. However, Annie decides to decline Kevin’s offer in the end.

Shark(s) InvolvedOffer & DemandCounterofferAccepted?
Barbara CorcoranN/AN/AN/A
Lori GreinerN/AN/AN/A
Mark CubanN/AN/AN/A
Kevin O’Leary#1: $300k for 15%
#2: $300k for 12.5%
#1: $300k for 7%
#2: $300k for 8%
No
Jason BlumN/AN/AN/A

I love Chamoy Shark Tank Update

i love chamoy net worth

Annie Leal appeared on Shark Tank Season 15 and asked for $300k for 5% equity but didn’t make a deal. However, I Love Chamoy is still going strong. We can’t give exact sales figures yet, but we’re confident they’ll see a big increase after being on Shark Tank! Let’s find out what happened in that episode.

Founder BackStory

Annie Leal founded I Love Chamoy in 2021 because she couldn’t find a sugar-free, sweet-and-spicy treat for her diabetic dad. She chose chamoy, a Mexican sauce made from dried fruits, chili powder, salt, sugar, and citrus.

In 2022, Leal and I Love Chamoy won H-E-B’s Quest for Texas Best competition, which gave them $25,000 and a spot on H-E-B’s shelves. Despite this early success, running a small business was tough, so Leal went on Shark Tank seeking advice and financial support.

Initial Pitch

Annie enters Shark Tank with a Mariachi band playing a spooky version of the show’s theme song. She’s asking for $300,000 in exchange for 5% ownership of her company. When she thinks of Halloween treats, she doesn’t think of chocolate or caramel. Instead, she thinks of Mexican candy.

People love the sweet and spicy flavors, especially from a sauce called Chamoy. Chamoy is a traditional Mexican candy sauce that you can put on fruits, veggies, drinks, or even eat on its own. Annie’s company, I Love Chamoy, makes a sugar-free, carb-free, and calorie-free version.

Annie’s inspiration came from her dad. After moving to the USA, her dad developed diabetes and couldn’t enjoy the flavors he grew up loving. This motivated Annie to create something missing in the market. I Love Chamoy is like a love letter to her dad, her culture, and her community.

Queries about the Product

what happened to i love chamoy after shark tank

The Sharks get to taste three popular ways people enjoy I Love Chamoy: a fruit cup with Chamoy, mango-lime ice cream with Chamoy, and a margarita with I Love Chamoy on the rim. The sauce is sweetened with Monkfruit. All the Sharks like the samples except for Mark, who doesn’t like spicy food. Kevin thinks it’s a condiment, but Annie calls it “Mexican candy sauce.”

Annie surprises everyone by revealing another product: Chamoy gummies hidden inside a pinata. She soft-launched them a few months ago, and they’re spicy and sweet, just like Chamoy.

In her first year of business (2022), she sold directly to consumers on her website and made $550,000 in sales. By the middle of 2023, she’s already made $1.3 million in sales, and she expects to finish the year between $3.4 and $3.8 million. The Sharks are impressed, especially since almost all the sales are from the sauce alone.

Annie doesn’t spend money on advertising, just on social media posts. She has around half a million followers across her social channels.

Shark Responses and Final Deal

The Sharks get to taste three popular ways people enjoy I Love Chamoy: a fruit cup with Chamoy, mango-lime ice cream with Chamoy, and a margarita with I Love Chamoy on the rim. The sauce is sweetened with Monkfruit. All the Sharks like the samples except for Mark, who doesn’t like spicy food. Kevin thinks it’s a condiment, but Annie calls it “Mexican candy sauce.”

Annie surprises everyone by revealing another product: Chamoy gummies hidden inside a pinata. She soft-launched them a few months ago, and they’re spicy and sweet, just like Chamoy. In her first year of business (2022), she sold directly to consumers on her website and made $550,000 in sales.

By the middle of 2023, she’s already made $1.3 million in sales, and she expects to finish the year between $3.4 and $3.8 million. The Sharks are impressed, especially since almost all the sales are from the sauce alone. Annie doesn’t spend money on advertising, just on social media posts. She has around half a million followers across her social channels.

What went wrong with I Love Chamoy on Shark Tank?

Annie’s negotiation with Kevin resulted in a final offer of $300,000 for 12.5%, but she ultimately declined. Kevin’s concerns about the challenges of retail and potential competition from larger companies influenced his offers.

Despite Annie’s reluctance to accept 15%, Kevin adjusted his proposal, showing some flexibility. However, Annie remained firm in her decision, possibly indicating a misalignment in their valuation or strategic vision for the business.

Product Availability

I Love Chamoy is available for purchase online through their website. Additionally, it maintained its presence in retail stores, including H-E-B locations across Texas.

I Love Chamoy primarily sells its signature sugar-free Chamoy sauce, which offers a sweet and tangy flavor profile. Additionally, they may offer variations of Chamoy, such as different spice levels or fruit-infused options. While the exact flavors and products may vary, customers can typically expect to find variations of Chamoy sauce available for purchase.

Conclusion

Despite not securing a deal on Shark Tank, I Love Chamoy persisted in its operations and continued to offer its unique sugar-free Chamoy sauce to customers. The exposure from the show likely contributed to increased brand awareness and potential growth opportunities for the company.

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