Mavens Creamery Update | Shark Tank Season 10

Gwen and Christine Nguyen couldn’t keep up with the growing demand for their macaron ice cream sandwiches, and their profit margins were too low to scale. So they built Mavens Creamery, a company that makes these frozen treats in 30 flavors using natural ingredients, and each one can last up to six months in the freezer. Let’s see if their company can secure a deal in our Mavens Creamery update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to Mavens Creamery after Shark Tank.

Gwen and Christine entered Shark Tank Season 10 to pitch their business, Mavens Creamery. They sought $400,000 for 10% equity. After their pitch, they bagged a deal with Barbara Corcoran for $400,000 for 25% equity.

In terms of a Mavens Creamery update, the company chose to focus on retail partnerships instead of online sales. This decision paid off, and the company has grown to around $3 million in annual revenue.

Shark	Result
Barbara Corcoran	Accepted offer of $400,000 for 25% equity
Kevin O’Leary	No offer
Lori Greiner	No offer
Daymond John	No offer
Mark Cuban	No offer

Shark Tank Mavens Creamery Pitch

• Entrepreneurs: Gwen Nguyen and Christine Nguyen
• Business: Creamery
• Ask: $400,000 for 10% equity
• Result: $400,000 for 25% equity
• Shark: Barbara Corcoran

The first thing that Gwen and Christine told the sharks is that they needed a strategic partner to help scale Maven Creamery.

Next, they introduced their product, macaron ice cream sandwiches, and immediately shared samples with the sharks.

The flavors included cookies and cream, strawberry shortcake, salted caramel, and chocolate toasted almond. The sharks enjoyed the treats.

Kevin O’Leary asked how long the product stays fresh, since macarons contain eggs. Christine explained the frozen shelf life was up to six months.

The sisters reported $1.25 million in revenue that year and projected $2.1 million by year-end, with a net profit of $167,000.

Mark Cuban then asked about pricing. They said their wholesale price was $2.24, manufacturing cost was $1.80, and the retail price ranged between $3 and $4.

Kevin raised concerns about scaling, given the delicate nature of macarons. Additionally, Mark followed up, asking how far they could grow with their current facility.

Christine said their bakery was near full capacity, and they needed help expanding.

Lori Greiner asked if they had a retail store. They said no, explaining they sold directly to grocery stores and retailers.

Each retail partner received a freezer, which was required to store the product properly. Mark asked about the cost of a freezer, and Christine said it was $1,400.

Kevin asked if they covered that cost. Gwen said they did, through a partnership with an equipment company, which earned a $0.15 royalty per unit sold.

Daymond John asked about long-term plans. Gwen said they planned to automate production to reduce high labor costs, noting a $200,000 machine would help cut expenses.

Meanwhile, Mark dropped out, saying margins were too thin and the business was risky.

Lori, Kevin, and Daymond decided to drop out for similar reasons.

However, Barbara Corcoran remained. She offered $400,000: $200,000 for upgrading their facility and $200,000 as a line of credit, in exchange for 33.3% equity.

Gwen countered with 20% equity. Barbara negotiated 25%, and they ultimately agreed.

Now that we know how the negotiations turned out, let’s get a Mavens Creamery update to see how the company is doing right now.

Shark Tank Mavens Creamery Update

Our Mavens Creamery update found that the deal never closed due to differences over pricing and distribution plans.

At the time, Mavens Creamery was already pulling in $1 million in annual sales. Instead of chasing online sales, the sisters focused on retail growth.

In 2021, they automated production to boost output. Meanwhile, in 2022, sales climbed to $3 million per year.

Durian ice cream became their top seller and entered seven Costco regions in 2023. They followed up with avocado pints and announced tea-flavored options in 2024.

Further, their distribution now includes major retailers like Whole Foods, Costco, Safeway, Vons, Kroger, and King Soopers.

Christine eventually stepped away from the business, and Gwen continues as CEO.

At the time of writing our Mavens Creamery update, the company is still founder-owned, growing, and profitable.

Despite the sharks passing, the brand grew on its own terms.

We’re calling this Mavens Creamery update a success.

You can find the other company updates from Season 10 Episode 20 here:

• Spare Update
• Somnifix Update
• Swoveralls Update

Before you go, be sure to check out our list of all the Shark Tank Season 10 products.