Mavens Creamery Shark Tank Update – Shark Tank Season 10
Gwen and Christine Nguyen Pitched Macaron Ice Cream Business Mavens Creamery on Shark Tank Season 10. They landed a deal with the Shark Barbara.
Gwen and Christine Nguyen seek a deal for Mavens Creamery, their macaron ice cream sandwich business, in Shark Tank Season 10 Episode 20. Macarons are a French cookie made with almond powder or ground almonds. They’re not to be confused with macaroons, which are made with coconuts, not almonds.
Check out other Shark Tank Season 10 Episodes.
About Mavens Creamery
| Category | Details |
|---|---|
| Business Name | Mavens Creamery |
| Founder | Gwen Nguyen and Christine Nguyen |
| Industry | Food & Beverage |
| Product | Macaron ice cream sandwiches |
| Deal Status | Deal secured with Barbara |
| Investment Asked | $400,000 for 10% equity |
| Deal Outcome | $400,000 for 25% equity |
| Valuation | $4 million |
The Nguyen sisters pack delicious, premium ice cream inside and make ice cream sandwiches that are taking California by storm.
The sisters started Mavens Creamery in their parents’ garage back in 2014. Without any culinary experience, they perfected their ice cream sandwiches and debuted at a local dessert shop. They sold out of 400 sandwiches that day and knew they were on to something. In 2015, they moved to a commercial kitchen, and it was nothing but growth from that point on.
They sell 16 packs of Mavens Creamery products on their website for $100 – that’s $6.25 each. If you live in California (or Carson City, Nevada), you can pick up their ice cream sandwiches at one of over 300 independent retailers and Safeway supermarkets. With a multitude of flavor choices, you’re sure to find something you like. The Nguyens likely want to expand nationally and want Shark’s help. Do Sharks eat macarons?
Video
Posts about Mavens Creamery on Shark Tank Blog
Maven’s Creamery – Macaron Ice Cream Sandwiches
Mavens Creamery Shark Tank Recap
Gwen and Christine enter seeking $400,000 for 10% of their business. As they hand out the product and explain the business, the Sharks clearly like the product. The women explain that they’re so successful, they’re having trouble keeping up with demand. They want an investment to scale, automate production, and fund purchase orders.
Did Mavens Creamery Get a Deal on Shark Tank?
While the Sharks like the ice cream sandwiches, they don’t like the thin margins and high valuation. As the Sharks raise objections, Barbara jumps in with an offer for $400,000 ($200,000 cash and a $200,000 credit line) for 33.3% of the business. She says she’ll also provide other funds as needed.
The sisters briefly confer and counter with 25%. Barbara agrees, and they do the deal.
Mavens Creamery Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. While Mavens isn’t listed on Barbara’s page as one of her entrepreneurs, the sisters are touting their Shark Tank appearance on their website in the summer of 2019. The deal with Barbara never did close after all.
Since airing in April 2019, they’ve expanded retail distribution to Colorado, Kroger’s Markets throughout the Midwest, Whole Foods in the Northeast, and several other market chains, including King Soopers, Vons, and Pavilions. They continue to distribute through Safeway in California and Nevada. It appears they’re keeping up with production!
The company introduced ice cream in addition to the ice cream sandwiches. By 2023, they want to have international distribution through a franchise model. As of June 2022, they expanded into more Whole Foods in the eastern USA and California. They are also in Albertsons in California.
As of September 2022, they plan to launch in Costco – a deal that was in the works pre-pandemic but got put “on hold.” It looks like they are no longer in Kroger’s. As of January 2023, the deal with Costco has still not closed. Annual revenues are $3 million.
In November 2023, Mavens Creamery’s durian ice cream was sold out completely at several Costco locations across the Southeast. More inventory was scheduled to hit stores in January 2024.
Meanwhile, their signature macaron ice cream sandwiches continue to build momentum, landing spots in retailers. With demand only growing, Mavens shows no signs of slowing down. The estimated net worth of Mavens Creamery is approximately $2.57 million.
Where Can You Buy Mavens Creamery?
Mavens Creamery Ice Cream Sandwiches can be bought from their official website. They are also available on Amazon. Check out their social media pages for more recent updates: Facebook and Twitter.
Quick Summary
- Gwen and Christine Nguyen pitched Mavens Creamery, asking for $400,000 for 10% equity.
- Mavens Creamery offers premium macaron ice cream sandwiches with over 300 retailers in California and Nevada.
- They sought investment to scale and automate production, eventually agreeing to a deal for $400,000 for 25% equity.
Curious about more products from this episode? Check out the updates of other businesses that participated alongside Mavens Creamery.
