Where Is Blendtique Wine Company From Shark Tank Today?
The American wine market was valued at nearly $64 billion in 2021. Along with being a big industry, it's one whose product elicits a lot of strong opinions. For as many grape varieties that exist, there are infinitely more varieties of wine. And it can be hard to figure out what exactly you want in a bottle.
Blendtique started with the goal of personalizing the wine-blending process. Its founders brought their idea where anyone with a good idea does — to "Shark Tank." Co-owner Billy Dim hoped Blendtique would strike a chord and strike it big after appearing on the show hoping for a $250,000 investment in exchange for 10% of the business. At that point, Blendtique had brought in $200,000 in sales over the prior two years.
Success after "Shark Tank" is far from guaranteed, but Blendtique has found its spot in the wine market and is doing well today.
Blendtique was a tough sell in the tank
Billy Dim is a master sommelier who decided to bring wine-blending to a broader audience than just wineries. Blendtique offers a process for people to customize blends of wine based on flavor preferences before designing a label and having it shipped to their home. Blendtique focuses on local wines and to give the blending kit an authentic California wine country feel. But after Dim had two of the sharks try the kit, concerns started to rise.
Mark Cuban and Robert Herjavec quickly decided that they were out, with concerns around Dim's long-term focus and direction for the company. There was also a concern about the cost, with the $25-per-bottle price tag scaring off Kevin O'Leary and a lack of followup sales keeping Barbara Corcoran from committing. Lori Greiner was willing to make a deal in the form of a loan but learned that Dim only owned part of the company. Undeterred, Greiner presented a deal for a loan of $250,000 with 8% interest in exchange for 10% of the company. Dim was happy to walk away with the loan.
Blendtique has continued to grow
The deals on "Shark Tank" don't always go through, and Billy Dim's deal for a loan from Lori Greiner was reportedly one of them. After filming, Greiner and Blendtique were reportedly unable to reach a deal, but that wasn't the end for the wine-blending company. In 2016, Blendtique signed a deal with Celebrity Cruises to offer wine-blending events aboard its line of cruise ships.
The Blendtique wine experience on Celebrity Cruises is still offered today, proving that the company has been successful, even if Dim didn't walk away from "Shark Tank" with an investment deal. Thanks to the company's partnership with the cruise line, Blendtique reportedly brings in an annual $4 million in sales, and Dim gets to share the experience of blending wine with people across the country and around the world. It's safe to say that Blendtique is a "Shark Tank" success tale.