What Happened to Blendtique Wine Company After the Shark Tank Pitch?
What is Blendtique Wine Company?
Blendtique Wines is a wine enthusiast site that enables users to make their own wine blends from the comfort of their own homes.
Wine enthusiasts may choose their blends from the site, combine them, publish a recipe, design their own label, and have the completed product shipped to them.
It’s perfect for weddings, large gatherings, and restaurants in need of a quick way to access house wine. Other “pre-made” combinations are available.
Who is the Blendtique Wine Company’s Founder?
Blendtique Wines was founded by Billy Dim with the aid of First Choice Beverage, a company that assists individuals in developing alcoholic beverage businesses.
He is a professional sommelier and a graduate of the University of Texas at Austin.
Dim has worked in the Santa Ynez Valley wine industry for eleven years. He desired to create a wine experience that was accessible to everybody.
He started The Wine Apothecary, a wine distributor to the restaurant, hotel, and corporate gift industries, after working as a sales director and manager at many vineyards, including Los Olivos Wine Merchant & Cafe.
In 2013, he launched the Blendtique Wine Company to bring his vision of wine fans creating their own wines to fruition.
He is currently the Chief Executive Officer of Blendtique Wines.
Mr. Dim aspires to improve the winemaking experience through more participation.
He sees a world in which wine enthusiasts may build their own custom blends by tasting, mixing, labelling, and packaging their creations.
Billy is committed to igniting the creative spirit within every wine fan and introducing them to the craft of winemaking.
He is committed to bringing to light what is sometimes overlooked, and an enthusiast with a strong desire to learn and create.
Mr. Dim has already established a reputation for leading teams to unmatched success in the wine and hospitality industries.
He has established himself as a professional individual capable of significantly improving a business’s fortunes in marketing, sales, and customer service over time.
What Happened to Blendtique Wine Company at the Shark Tank Pitch?
Billy appears on Shark Tank season 8 episode 19 seeking $250,000 in exchange for a 10% ownership in his business. This equates to a valuation of $2.5 million.
He introduces the business and encourages Barbara and Kevin to compete in a wine mixing competition. Barbara is the Sharks’ blind tasting champion!
He informs the Sharks that he has a two-year sales record of $200,000 in the previous two years. He charges $99 for each mixing kit and pays $35 for them.
Mark exits after mentioning that he would do the mixing as a lecture for corporate occasions.
Robert departs, believing Billy is not paying attention.
Billy is informed by Kevin O’Leary that 97 percent of wine is sold for less than $13 a bottle. He is skeptical that he will be able to sell wine at a price higher than $14 a bottle. Kevin has departed.
Barbara Corcoran is intrigued by the price she spends for a case of wine after developing her case. She is required to pay $300.
That’s twelve bottles in all. She’d want to know what proportion of guests at house events order wine. Conversion rates of merely 15% are inadequate. She has departed.
Lori expresses gratitude for the products but seeks a reduction in pricing to $9. He asserts that he can, and she answers with $250,000 for 30%.
Billy acknowledges having a partner and answers with 15%. Lori responds with 25%, but then discloses that he owns just 49% of the company. Lori responds with a $250,000 loan at 8% interest in exchange for 10% ownership. Billy concurs.
What Happened to Blendtique Wine Company After the Shark Tank Pitch?
Although the deal with Lori never materialized, Blendtique did sign a deal with Celebrity Cruise Lines to host mixing events on cruise ships. As of May 2021, the business is still in existence, with estimated annual sales of $4 million.
What is the Net worth of Blendtique Wine Company?
On Shark Tank Season 8 Episode 19, Billy Dim entered the Tank seeking $250,000 for a 10% stake, valuing the company at $2.5 million, but instead accepted Lori Greiner’s offer of a $250,000 loan at 8% interest for a 10% stake, valuing the company at the same amount.
Who are the Competitors of Blendtique Wine Company?
Blendtique Wine Company faces competition from Global Wines, Scott Harvey Wines, Savvy Cellar Wines, The Mara Wine Group, and Windsor Vineyards in its market sector.
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Blendtique Wine Company FAQS
1. What is Blendtique Wine Company?
Blendtique Wines is a wine enthusiasts site that enables users to make their own wine blends from the comfort of their own homes.
2. Who is Blendtique Wine Company’s Founder?
Blendtique Wines was founded by Billy Dim with the help of First Choice Beverage, a company that assists individuals in developing alcoholic beverage businesses.
3. What happened to Blendtique Wine Company at the Shark Tank Pitch?
Billy appeared on Shark Tank season 8 episode 19 seeking $250,000 in exchange for a 10% ownership in his business. This equates to a valuation of $2.5 million.
4. What is the annual sales of Blendtique Wine Company?
Blendtique Wines has an estimated annual sales of $4 million.
5. Who are the Competitors of Blendtique Wine Company?
Blendtique Wines faces competition from Global Wines, Scott Harvey Wines, Savvy Cellar Wines, The Mara Wine Group, and Windsor Vineyards in its market sector.
6. What are the key benefits of Blendtique Wine Company?
Blendtique Wines has helped many wine enthusiasts create and produce their own custom blends.
7. How much did Billy Dim accept from the Shark Tank?
Billy Dim accepted $250,000 loan at 8% interest in exchange for 10% ownership.
8. Is Blendtique Wine Company still in business?
Blendtique Wines is still in business and has an estimated annual sales of $4 million.
9. Where is Blendtique Wine Company based?
Blendtique Wine Company is based in Los Olivos, California.
10. Do they shipped?
Blendtique Wines ships throughout the country.
11. When was Blendtique Wine Company aired on Shark Tank?
Blendtique Wine Company was aired on March, 3rd 2017.
