Mavens Creamery Shark Tank Net Worth 2023

Mavens Creamery Shark Tank Net Worth

Gwen and Christine Nguyen have a combined net worth of 2.8 million USD as of 2022, while the business valuation of Mavens Creamery before appearing on Shark Tank was estimated to be 4 million USD.

The company was expected to make $167,000 in net profit after partnering with Barbara Corcoran.
Mavens Creamery is a confectionary company founded by Gwen Nguyen and Christine Nguyen in California.

The company produces macaron ice cream sandwiches using natural ingredients and has 30 different flavors to choose from.

In May 2019, Mavens Creamery appeared on Shark Tank and received a deal from Barbara Corcoran for $400,000 in exchange for 25% equity.

Since appearing on Shark Tank, Mavens Creamery has experienced an exponential amount of growth. Their product is now found in over 300 independent retailers and Safeway supermarkets across California, Nevada, and Colorado.

They also sell 16 packs of their products on their website for $100 (or $6.25 each). Additionally, they are currently working on introducing a new flavor featuring the King of Fruits.

What is Mavens Creamery? Who is the founder of Mavens Creamery?

Mavens Creamery is a company that produces handmade ice cream sandwiches using macarons, a type of French almond biscuit.

The company was established in 2014 by two sisters, Gwen Nguyen and Christine Nguyen, who are of Vietnamese heritage and are based in California. Gwen serves as the CEO while Christine holds the position of COO.

Mavens Creamery is known for adding a unique twist to its ice cream sandwiches by blending various high-quality ice cream and cheesecake flavors to create a delicious dessert. In addition to this, they also make their own frozen ice cream macaron sandwiches.

Their ice cream sandwiches come in over 30 different flavors, all made from natural ingredients without any artificial sweeteners, flavors, preservatives, or other harmful chemicals.

Each new flavor undergoes a rigorous research and development process to ensure it meets its high standards and leaves its customers smiling.

Interestingly, neither Gwen nor Christine has any prior cooking expertise or formal training in culinary arts. They learned how to create new dessert concepts and make them from the internet.

Despite their lack of culinary experience, they mastered the art of making ice cream sandwiches and debuted their product at a local dessert store.

They sold 400 sandwiches on their first day and realized they were on to something. In 2015, they moved to a commercial kitchen and have been growing their business ever since.

On their website, they offer 16 packs of Mavens Creamery products for $100, which works out to $6.25 per pack.

Customers in California or Carson City, Nevada can also purchase their ice cream sandwiches from over 300 independent merchants or Safeway supermarkets.

Mavens Creamery Shark Tank Pitch

In episode 20 of season 10 of Shark Tank, Gwen, and Christine made a decision to showcase their product to investors in the hopes of expanding nationally for their $4 million company, Mavens Creamery.

They were seeking a $400,000 investment in exchange for a 10% stake in their company. The Sharks expressed interest in the product and sampled it while discussing the business.

Gwen and Christine explained that they were having trouble keeping up with the demand for their successful product and needed investment to expand and automate their manufacturing process and fulfill purchase orders.

Although the Sharks enjoyed the ice cream sandwiches, they were not impressed with the low margins and high valuation. Barbara made an offer of $400,000 for 33.3%, with the promise of additional funding if needed.

After a lengthy negotiation, the sisters counter-offered with $400,000 for a 25% stake, which Barbara accepted, and they left the pitch with a deal.

However, the deal with Barbara did not go through after the show aired. Since its debut in 2019, Mavens Creamery has expanded its retail distribution to several markets across the US, including Kroger’s Markets, Whole Foods, King Soopers, Vons, Pavilions, and Safeway in California and Nevada.

They plan to continue expanding their presence by opening more Whole Foods stores in the Southeast and California by December 2021 and hope to achieve international distribution by 2023 through a franchise model.

They are also available at Albertsons in California, but not currently at Kroger’s. Their annual revenue is $3 million.

Net Worth of Mavens Creamery

The valuation of the company was $4 million during the pitch, since then the company has been selling its product with annual revenue of $3 million in 2021. This justifies that the company’s net worth has raise.

Mavens Creamery Shark Tank Updates

Mavens Creamery is a business that sells macaron ice cream sandwiches and was featured on Shark Tank in season 10, episode 19. The founders, Gwen and Christine Nguyen were seeking a $400,000 investment for 10% equity in their company.

The Sharks were impressed with the product and Barbara Corcoran offered them $400,000 for 25% equity, which they accepted. Despite the deal never closing, Mavens Creamery has expanded to sell in several supermarkets across the nation, including Whole Foods, Kroger, King Soopers, and Vons.

The brand is thriving, and the product is available in several regions. The sisters are promoting their Shark Tank appearance on their website.

Mavens Creamery Shark Tank 2023

INFORMATION	DETAILS
Company Name	Mavens Creamery
Founders	Gwen Nguyen and Christine Nguyen
CEO	Gwen Nguyen
COO	Christine Nguyen
Established	2014
Product	Macaron ice cream sandwiches
Flavors	Over 30
Business Valuation (before Shark Tank)	$4 million USD
Offer on Shark Tank	$400,000 for 25% equity (from Barbara Corcoran)
Net Profit (after partnering with Barbara Corcoran)	$167,000 USD
Annual Revenue (2021)	$3 million USD
Retail Distribution	Over 300 independent retailers and Safeway supermarkets in California, Nevada, and Colorado, as well as Kroger’s Markets, Whole Foods, King Soopers, Vons, Pavilions, and Albertsons
Product Price	16 packs for $100 USD (or $6.25 each)
Future Plans	Expand presence by opening more Whole Foods stores in the Southeast and California, and achieve international distribution by 2023 through a franchise model
Net Worth	Estimated to be increasing since the company has a revenue of $3 million USD in 2021

What Happened To Mavens Creamery After Shark Tank?

Mavens Creamery is a business that makes macaron ice cream sandwiches, founded by sisters Gwen and Christine Nguyen. They were featured on Shark Tank and requested $400,000 in exchange for 10% of their business, but the deal never closed.

However, the business has still been successful and expanded to sell in over 300 independent retailers and Safeway supermarkets in California and Nevada. They also sell their products on their website, where a 16-pack of ice cream sandwiches costs $100.

Mavens Creamery is thriving and its products are available at numerous retailers, including Whole Foods, Safeway, and Pavilions.

After partnering with Barbara Corcoran, the business experienced exponential growth, and its products are now available in several stores across multiple states, including Colorado and Nevada.

Mavens Creamery has also expanded to sell in a number of supermarkets in different market areas across the nation, including Kroger, Whole Foods, King Soopers, and Vons.

Despite not closing the deal with the Sharks, Mavens Creamery has experienced significant growth and success since appearing on Shark Tank. They have expanded their distribution to several states and are available in numerous retailers, including major supermarket chains.

How Has Mavens Creamery Expanded Since Appearing On Shark Tank?

Since its appearance on Shark Tank, Mavens Creamery has expanded its business by opening a manufacturing plant and hiring workers. They now sell their macaron ice cream sandwiches in over 300 stores, mainly in California and on the East Coast, including Albertsons and Whole Foods.

Partnering with Barbara Corcoran helped Mavens Creamery experience significant growth, and their product is now available in several states beyond California, including Colorado and Nevada.

Although they did not close the deal with Barbara, the founders have managed to increase their sales and grow their business. During their pitch, Mavens Creamery generated over a million dollars in sales and is projected to reach the $2 million mark by the end of the year.

As of 2023, the company is thriving, and its product is available at various retailers, including Whole Foods, Safeway, and Pavilions.

What New Products Has Mavens Creamery Introduced Since Shark Tank?

Mavens Creamery has expanded its product line to include ice cream in addition to its ice cream sandwiches after its appearance on Shark Tank. They have also increased their presence in Whole Foods stores in the eastern USA and California.

As of June 2022, Mavens Creamery products can be found in over 300 independent retailers and Safeway supermarkets in California and Carson City, Nevada. The company sells packs of 16 of its products on its website for $100, which comes to $6.25 per unit.

Mavens Creamery has plans to expand internationally through a franchise model by 2023, and they have announced that they will be releasing a limited-run durian fruit ice cream in Costcos in the fall of 2023.

What Is The Current Status Of Mavens Creamery After Shark Tank?

After appearing on Shark Tank in 2019, the deal between Maven’s Creamery and Barbara Corcoran did not come to fruition.

However, the Nguyens have continued to expand their business and increase sales. As of 2023, Maven’s Creamery has managed to increase its sales to $3 million per year by expanding to Whole Foods stores in several regions.

The company’s ice cream sandwiches with macarons can be found in over 300 locations throughout California and have made their way to Nevada and Colorado.

The Nguyens are looking to automate the manufacturing and packaging process and scale wholesale.

They are hoping to take their company nationwide with the help of the sharks. Maven’s Creamery began in 2014 when Gwen and Christine Nguyen began planning out their empire of macaron ice cream sandwiches, and by the following year, they introduced their product at a local ice cream shop.

Their macaron ice cream sandwiches sold out with all 400 items selling in just four hours.

Maven’s Creamery has continued to roll out new flavors like Chocolate Chip Cookie Dough with Vanilla Ice Cream and launch new products like Mavens Creamery Frozen Cheesecake Macaron Sandwiches.

The company’s ice cream sandwiches can be purchased at any grocery store in California.

Overall, Maven’s Creamery is a successful business that has continued to grow and expand despite not finalizing a deal with Barbara Corcoran after appearing on Shark Tank.

How Did The Mavens Creamery Partnership With Barbara Corcoran Affect The Company?

Mavens Creamery is a company that makes gourmet ice cream sandwiches and was featured on Shark Tank in 2017. The founders of the company, Gwen and Christine Nguyen, created a macaron ice cream sandwich that is more than an inch thick.

During the show, they asked for a $400,000 investment in exchange for a 10% share of the business. Barbara Corcoran made an offer of $400,000 in exchange for a 33.3% stake in the company, which the sisters accepted.

After the show, the deal with Corcoran was completed, and Mavens Creamery received $200,000 in cash, a $200,000 line of credit, and a guarantee of future credit as needed for 25 years.

By the time the deal was filmed, the business had made $1,250,000 in sales and projected $2,100,000 by the end of the year. The company sells each unit for $2.24 at wholesale and between $3 and $4 per unit retail, while manufacturing one unit costs them $1.08.

Since appearing on Shark Tank, Mavens Creamery has expanded to sell in over 300 stores, including Whole Foods Market, Safeway, Pavilions, Kroger, King Soopers, and Vons.

To find the nearest store that sells Mavens Creamery products, customers can enter their address on the company’s website, which also has a “Become a Retailer” page for those interested in selling their products in their stores.

However, it’s important to note that the availability and pricing of Mavens Creamery products may vary by store and are subject to change without notice, so customers should check with their local store for the most up-to-date information.

Where Can I Buy Mavens Creamery Products?

Mavens Creamery products can be purchased at over 300 stores, located in the bakery department of grocery stores.

Whole Foods Market also carries Mavens Creamery products, which can be ordered online or purchased in-store. Safeway and Pavilions are other retailers that carry Mavens Creamery products.

To find the nearest store that carries Mavens Creamery products, customers can enter their address on the Mavens Creamery website. The website also has a “Become a Retailer” page for those interested in selling Mavens Creamery products in their stores.

It is important to note that the availability and pricing of Mavens Creamery products may vary by store and are subject to change without notice. Customers should check with their local store for the most up-to-date information on product availability and pricing.

How Many Flavors Of Macaron Ice-Cream Sandwiches Does Mavens Creamery Offer?

Mavens Creamery offers seven flavors of macaron ice cream sandwiches. The flavors are strawberry shortcake, chocolate toasted almonds, salted caramel, coffee hazelnut, mint chocolate chip, cookies ‘n cream, and macaron ice cream.

These macaron ice cream sandwiches are available at over 300 Whole Foods, Safeway, Vons, Pavilions, and Albertsons stores nationwide.

Where Can Mavens Creamery Products Be Found Now?

Mavens Creamery products can be found at a number of retailers, including Whole Foods, Safeway, and Pavilions. Macaron ice cream can be found in over 300 stores, located in the bakery department of grocery stores.

Additionally, Mavens Creamery products can be ordered for pickup and delivery through Grubhub.

What is Mavens Creamery?

Mavens Creamery is a company that produces handcrafted ice cream sandwiches with macarons, a French almond biscuit.

Mavens Creamery is owned by whom?

Mavens Creamery by Gwen Nguyen and Christine Nguyen.

How much was asking on Shark Tank?

They were asking for $400,000 for a 10% stake in their company.

Did they have the deal?

Yes, they have the deal with Barbara Corcoran.

How much was the deal?

Barbara Corcoran offered $400,000 for 25% ownership of the company, but they never finalized the deal.

Is Mavens Creamery still in business?

Yes, they are still in business.

Is Mavens Creamery profitable?

According to the figures, Maven’s Creamery is a huge success.

What size is your macaron ice cream?

The diameter of our macarons and ice cream is 2″. Our ice cream is one inch thick.

Are your items Halal?

Sadly, none of their items are Kosher.

Are Mavens Creamery Goods vegan?

The items are not suitable for vegans. Milk and eggs are found in all of our products.

Are the products NON-GMO or organically certified?

Their items are neither NON-GMO nor organically certified.

Where can I get your items at supermarket stores?

In supermarket shops, their items may be found in the bakery area, or in a stand-alone freezer. Please consult a team member about the specific position of the freezer, as it may differ from store to store.

If customers really want to buy certain varieties, they recommend calling the shop ahead of time to confirm their inventory.

Where can I purchase your goods?

Their items are available in over 300 stores across the United States. Enter their address into their store-finding tool at https://mavenscreamery.com/store-locator to discover the nearest location. One can also look at their catering page!

In supermarket shops, their items may be found in the bakery area, in a stand-alone freezer. Please consult a team member about the specific position of the freezer, as it may differ from store to store.

If one wants to buy certain varieties, they recommend calling the shop ahead of time to confirm their inventory.

Are your products free of gluten?

Gluten is not an active component in certain tastes. Because they manufacture on shared equipment with gluten, none of their flavors are gluten-free. All of their flavors may contain trace quantities of gluten.

What are the future strategies of Mavens Creamery?

As of late 2018, the company is planning to expand its product line by adding flavors such as vanilla, chocolate, and strawberry.

Due to the success of Mavens Creamery macarons, these flavors are expected to be highly selling within the next few months or years.

The company is also considering building its own line of concentrates where it could produce its products from start to finish. They want to capitalize on this success in a new, more profitable way.

What is the return policy of Mavens Creamery?

All of the items are final sale.

Is Mavens Creamery Gluten Free?

Gluten is not an active component in certain tastes. Because they manufacture on shared equipment with gluten, none of their flavors are gluten-free. All of their flavors may contain trace quantities of gluten.

Is Mavens Creamery a scam?

No, Mavens Creamery is not a scam.

Is Mavens Creamery Vegan?

The items are not suitable for vegans. Milk and eggs are found in all of our products.

What is the net worth of Christine Nguyen?

Christine Nguyen’s net worth is estimated to be over $2 million.