Mango Mango is a popular brand that emerged from the entrepreneurial success story of Lakesha Brown-Renfro, Tanecia Willis, and Nzinga Teule-Hekima. What started as a gourmet mango preserve made from only four natural ingredients – mangoes, lime juice, sugar, and vanilla – quickly became a financial success and an impressive growth story.
Before their appearance on Shark Tank, the founders already had a thriving business called ‘Simply Panache,’ where they noticed the popularity of their mango preserves among their clients. Recognizing the potential of their product, they decided to pitch their “Mango Mango” business on reality TV’s Shark Tank.
The strategic approach of focusing solely on their “Mango Mango” venture during their pitch showcased their acumen as entrepreneurs. Although they didn’t secure a deal with the Sharks, the exposure from their Shark Tank appearance catapulted their success to new heights.
After the show, Mango Mango experienced incredible growth, selling over 30,000 jars of its product and expanding its retail presence to stores like Whole Foods. Today, Mango Mango has a net worth of $3 million and continues to thrive in the market, solidifying its position as a popular and successful brand.
Key Takeaways:
- Mango Mango is a gourmet mango preserve made from four natural ingredients.
- The founders’ strategic approach on Shark Tank showcased their entrepreneurial acumen.
- Despite not securing a deal, Mango Mango experienced impressive growth and success.
- The brand expanded its retail presence and achieved a net worth of $3 million.
- The journey of Mango Mango demonstrates the power of Shark Tank in promoting brands and products.
The Journey of Mango Mango on Shark Tank
When Mango Mango founders Lakesha Brown-Renfro, Tanecia Willis, and Nzinga Teule-Hekima appeared on Season 5 of Shark Tank, they were ready to pitch their gourmet mango preserves. With enthusiasm and confidence, they asked for a $75,000 investment in exchange for a 20% equity stake, valuing their company at $375,000. Although the Sharks recognized the potential of the product and responded positively, they ultimately did not strike a deal. Concerns were raised about high production costs and scaling the business.
Despite not securing a deal, the exposure from their Shark Tank appearance proved to be a game-changer for Mango Mango. In the month following the show, they experienced a surge in sales, selling over 30,000 jars of their delicious mango preserves. The strategic approach of focusing solely on the “Mango Mango” business during their pitch showcased the founders’ entrepreneurial acumen, capturing the attention and interest of viewers.
| Investment Pitch | Business Valuation | Product Recognition | Response from Sharks | Strategic Approach |
|---|---|---|---|---|
| Requested $75,000 | Valuing the company at $375,000 | Positive response from the Sharks | No deal secured | Focused solely on the “Mango Mango” business |
The journey of Mango Mango on Shark Tank showcases the power of the platform in generating product recognition and driving sales. Despite not securing an investment, the exposure propelled them to new heights and solidified their place in the market.
The Success of Mango Mango After Shark Tank
Despite not securing a deal on Shark Tank, Mango Mango experienced tremendous success after the show. The exposure from the show led to a significant increase in sales, with over 30,000 jars sold in the month following their appearance. The product gained recognition and became sought after, leading to its expansion into renowned grocery stores like Whole Foods.
Mango Mango also made multiple appearances on QVC, the popular home shopping network, and experienced sold-out sales after each appearance. This exposure helped the company reach a wider audience and generate more revenue. In addition to their retail expansion, the founders launched an online platform, allowing customers nationwide to conveniently purchase their products. This move not only created an additional revenue stream but also boosted brand recognition.
To further highlight the success of Mango Mango, here is a table showcasing their post-Shark Tank achievements:
| Post-Shark Tank Success | |
|---|---|
| Sales Growth | Over 30,000 jars sold in the month following the show |
| Retail Expansion | Expanded presence in renowned grocery stores like Whole Foods |
| QVC Appearances | Made multiple appearances, experiencing sold-out sales |
| Online Platform | Launched an online store, creating an additional revenue stream |
| Brand Recognition | Increased visibility and recognition among target audience |
The success of Mango Mango highlights the significant impact that a Shark Tank appearance can have on a business. Despite not securing a deal, the exposure and recognition gained from the show propelled Mango Mango to new heights of success. Through retail expansion, QVC appearances, and the launch of an online platform, Mango Mango has continued to grow and thrive in the market.
The Journey of Mango Mango Founders
Let me take you on the incredible journey of the founders behind Mango Mango – Nzinga Teule-Hekima, Lakesha Brown-Renfro, and Tanecia Willis. These remarkable women come from diverse backgrounds, each bringing their unique skills and experiences to the table.
Before Mango Mango, their entrepreneurial spirit led them to establish an event planning business called ‘Simply Panache.’ Through their work, they discovered their talent for creating delicious mango preserves that quickly gained popularity among their clients. This realization sparked their entrepreneurial vision, and they decided to turn their side project into a standalone business.
What sets the Mango Mango founders apart is their unwavering dedication to quality and their passion for food. Although they didn’t have professional culinary backgrounds, their love for creating exceptional products drove them to refine their mango preserve recipe, using only four natural ingredients – mangoes, lime juice, sugar, and vanilla.
Of course, their journey wasn’t without its challenges. They faced hurdles with production costs and scaling as the demand for Mango Mango grew. However, their determination and innovative approach allowed them to overcome these obstacles and achieve impressive growth.
FAQ
What are the ingredients in Mango Mango preserves?
Mango Mango preserves are made from only four natural ingredients – mangoes, lime juice, sugar, and vanilla.
How did Mango Mango emerge as a standalone business?
Mango Mango originated from the founders’ successful event planning business, ‘Simply Panache,’ where their mango preserves gained popularity among clients.
Did Mango Mango sell their product before appearing on Shark Tank?
Yes, Mango Mango sold hundreds of jars of their mango preserves at special events before their Shark Tank appearance.
How much has Mango Mango’s net worth grown since their Shark Tank appearance?
As of 2023, Mango Mango has a net worth of $3 million, showcasing their impressive financial success and growth in the market.
Did Mango Mango secure a deal on Shark Tank?
No, despite receiving positive feedback from the Sharks, Mango Mango did not secure an investment deal on Shark Tank.
What challenges did Mango Mango face after their Shark Tank appearance?
Mango Mango faced challenges with production costs and scaling their business, but they overcame these hurdles through their entrepreneurial vision and commitment to their product.
How did Mango Mango experience growth after Shark Tank?
The exposure from Shark Tank led to a surge in sales, with over 30,000 jars sold in the month following the show. The product gained recognition, leading to expansion into stores like Whole Foods.
Has Mango Mango appeared on any other platforms after Shark Tank?
Yes, Mango Mango made multiple appearances on QVC, selling out after each appearance. They also launched an online platform, allowing nationwide customers to purchase their products and creating an additional revenue stream.
What are the backgrounds of the founders of Mango Mango?
The founders of Mango Mango come from diverse backgrounds, including medicine, nursing, and military life. Despite not having professional culinary backgrounds, their passion for food and dedication to quality drove them to create their unique product.