Meet Whitney and Chaz Gates, an African-American husband-and-wife duo from Dallas, Texas who are the owners of wine label Wondry, which earned a whopping $1 million in sales since striking a deal with investor Mark Cuban on Shark Tank about a year ago.
In November 2022, the couple appeared on Shark Tank to pitch Wondry, which had raked in $250,000 in lifetime sales at that time with a $60,000 profit over 11 months. They secured a deal with Mark Cuban who invested $225,000 in exchange for a 15% stake in the business. Fast forward to less than a year, their local Texas business turned into a nationally recognized brand, Whitney told Benzinga.
Whitney and Chaz initially invested $100,000 from their personal savings to launch Wondry in August 2021. Whitney’s background in beverage brand marketing and Chaz’s legal expertise from a tech company set the stage for their entrepreneurial journey.
Their goal was originally to find an investor for them to be able to automate their manual labor processes and expand beyond their 1,400-square-foot space. With Mark Cuban’s investment, Wondry now operates out of a 10,000-square-foot facility and their 100% natural cocktail wines, boasting flavors of berries, citrus, and exotic fruits, are now available in over 400 stores nationwide. That’s quite a leap from only 50 retailers a year ago.
Cuban’s investment not only brought capital but also key connections. He introduced the Gates to a national alcohol distributor just 2 weeks after the investment and this connection has paved the way for a distribution deal, extending Wondry’s reach to restaurants, retailers, and airlines across the U.S.
Learn more about Wondry Wine via its official website at WondryWine.com
Also, be sure to follow the brand on Instagram @WondryWine