Where Is Mavens Creamery From Shark Tank Today?
There are few culinary combinations more successful than cookies and ice cream. This pairing is particularly delectable when the cookies in question are macarons. According to All Recipes, macarons consist of egg whites, sugar, and almond flour, as well as a filling of either cream or jam. These delightful French pastries are most notable for their texture, which is due in no small part to their meringue base. Enterprising sisters Gwen and Christine Nguyen recognized the massive appeal of macarons and became inspired to improve upon the fancy treat.
Despite their lack of experience in the culinary world, the sibling entrepreneurs developed a recipe for macaron-based ice cream sandwiches in their parents' garage in 2014. Their gamble paid off, as the team quickly experienced success with their creamy concoctions. They were so successful that they were able to open a commercial kitchen in 2015, where they could whip up a larger volume of their popular treats. And just a few years later, the Nguyen sisters debuted their business, Mavens Creamery, on "Shark Tank" Season 10, Episode 20.
The Mavens landed a sweet deal
The Nguyen sisters entered the reality TV show with a verifiable hit. The Mercury News reports that their products had been on Safeway shelves since 2017, as well as numerous other stores throughout California and many other states. While all entrepreneurs want their products to be popular with consumers, the sisters were unable to fulfill their business potential with their pre-"Shark Tank" setup.
In their opening pitch to the Sharks, the co-founders of Mavens Creamery requested a $400,000 investment in exchange for a 10% share of the business. They believed this level of investment was sufficient to boost production capabilities to meet rising demand, while also leaving themselves a substantial portion of their own business.
Upon tasting their creations, many of the hosts agreed that they did have something special to offer consumers. However, only Barbara Corcoran, who seemed inspired by the sisters' family story, made an offer. Corcoran countered their initial request with an investment of $400,000, split evenly between cash and credit line, for 33.3% of the brand. Without any other offers to consider, the Nguyens seemed eager to take Corcoran's offer, but they also came prepared with enough business experience to haggle a bit.
The two offered 20% of the brand, which Corcoran negotiated back up to 25%. After a brief glance at each other, the Nguyens quickly accepted the deal. So, where has the business gone post-"Shark Tank"?
Macaron ice cream sandwiches and so much more
Based on the Mavens Creamery website, it appears that the brand is thriving. The product is available at a number of retailers, including Whole Foods, Safeway, and Pavilions. On the Mavens Creamery website, the where-to-buy page lists numerous retail locations throughout the United States and even includes a nifty tool for locating the provider nearest each individual customer. Additionally, the product line has expanded to include additional ice cream flavors, such as durian and macaron, as well as macaron cheesecake.
The sisters also list "Shark Tank" on the business's homepage, illustrating the major role the reality TV show played in its success. However, there's no indication that the deal forged with Barbara Corcoran ever got off the ground. Corcoran's website features a list of the entrepreneurs she's invested in after they appeared on the show, and Mavens Creamery does not seem to be among them. Of course, all deals made on "Shark Tank" are subject to additional due diligence and a strict confidentiality clause, which can make it difficult to ascertain Corcoran's current level of involvement.
While there are questions about the partnership, fans of "Shark Tank" are still heartened by the family-centered connection between the host and the Nguyen sisters, according to Inc. Upon revealing that their father sacrificed his dream of being an entrepreneur to support his family, which is what motivated the team to start their own business, Corcoran shared her own story of giving back to her loved ones once she found success. According to Gwen Nguyen, her father is a "true superhero," and both sisters strive to make him proud with their business.