Wondry Update | Shark Tank Season 14

During the COVID-19 pandemic, Whitney Gates saw that most wines lacked bold, fruit-based options. She remembered her uncle’s homemade wines made from fruits and vegetables. Together with her husband, Chaz Gates, they created Wondry, offering flavors like peach, apple, and mango with higher alcohol content. Beyond the product, the couple makes a difference by supporting underrepresented entrepreneurs through every purchase. Let’s see if they will secure an investment in our Wondry update and pitch recap.

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

Chaz and Whitney entered Shark Tank Season 14, seeking $185,000 for 8% equity in Wondry. After their presentation, they were able to seal up a deal with Mark Cuban for $225,000 for 15% equity.

In terms of a Wondry update, the company secured a 10-year distribution agreement with Southern Glazer’s Wine & Spirits. Furthermore, the exposure from Shark Tank drove a 1000% surge in sales, and within a few months, the company’s revenue quadrupled.

Shark	Result
Mark Cuban	Accepted offer for $225,000 for 15% equity
Kevin O’Leary	No offer
Peter Jones	No offer
Daymond John	No offer
Lori Greiner	No offer

Shark Tank Wondry Pitch

• Entrepreneurs: Chaz Gates and Whitney Gates
• Business: Cocktail Wines
• Ask: $185,000 for 8% equity
• Result:  $225,000 for 15% equity
• Shark: Mark Cuban

Whitney stepped into Shark Tank with a vision to reimagine wine through fruit-based blends that break away from tradition.

Alongside her husband, Chaz, she sought an investment to scale production, expand their distribution network, and make Wondry wines widely accepted.

Wondry is a company that creates fruit-infused wines. Their wines use fruits like peach, apple, and mango instead of grapes.

The entrepreneurs reveal that from their facility in Dallas, they handle production, bottling, and shipping.

This ensures quality control and consistent service. To further engage customers, they host tasting events and run a loyalty program.

They hand out samples to the sharks, and they love it. The Sangria Especial is the company’s bestseller.

Moreover, Wondry Wines distinguishes itself with double the alcohol content of most sweet wines, giving them an edge in flavor and potency.

Kevin O’Leary, however, points out that most wines sold in the U.S. are priced below $14.99 per bottle, while Wondry’s is slightly higher at $18.99 due to its premium, organic ingredients.

Currently, the company sells through Target and Total Wine stores in Dallas and directly to consumers.

Each bottle costs $3.61 to produce and wholesales for $13.31. Since starting the business in August 2021, they have made  $250,000 in sales, earning a $60,000 profit.

The couple invested $100,000 of their own money to launch the venture.

Whitney shares how her uncle’s methods inspired her journey into winemaking, leading her to pursue formal education to bring her vision to life.

In turn, Chaz reflects on his path from a single-parent household to becoming a corporate lawyer, humorously earning guest shark Peter Jones’s quip about being an “underachiever.”

Notably, Wondry is the second-largest Black-owned beverage business in the U.S., a remarkable achievement in such a short time.

Daymond John likes the couple and the product but admits he knows little about the wine business. He’s the first shark to drop out of the deal.

Lori Greiner says she likes the couple’s passion but avoids investing in sugary products she doesn’t use herself. She’s out as well.

Peter says his experience in winemaking isn’t a pleasant one. He’s out.

Kevin O’Leary adds that his time and resources for a wine venture are reserved for his own business, so he’s out as well.

Mark Cuban, however, sees potential and asks what the company needs to grow.

Chaz explains that they require an automated bottling system since they currently handle bottling themselves.

Upon hearing this, Mark offers $200,000 for 15% equity. The couple counters with $250,000 for the same equity.

However, Mark meets them in the middle with $225,000 for 15% equity, and the couple accepts.

Now that we know how the negotiations went let’s get a Wondry update to see how things turned out for the company.

Shark Tank Wondry Update

Our Wondry update found that the deal with Mark Cuban was finalized successfully on March 30, 2023.

This partnership facilitated a 10-year distribution agreement with Southern Glazer’s Wine & Spirits, a major liquor distributor, in January 2023.

Our Wondry update found that the exposure from Shark Tank led to a 1,000% increase in sales immediately after the episode aired.

Within 11 months post-appearance, Wondry Wines’ revenue quadrupled, reaching $1.1 million.

growth expanded their retail presence to over 440 locations, including Target and Costco.

The future looks bright for our next Wondry update.

For more updates on companies from Shark Tank Season 14 Episode 6, be sure to check the links below:

• Collars & Co. Update
• Square Keg Update
• Nana Hats Update

Before you go, check out our Shark Tank Season 14 page for more updates.