I Love Chamoy Net Worth Shark Tank Update

Halloween is known for its spooky festival and costumes but its main part is the candies. The nightly fun of trick or treating and collecting candies is loved by kids. However, not all people like the traditional chocolates, candies, and licorice.

Annie Leal, the owner of I Love Chamoy, has the perfect Mexican touch to the Halloween foods. Her product not only gives the salty and sweet flavors of Mexican delicacies but also gives a tangy flavor to them. It is a Mexican candy sauce that can be eaten with chips, fruits, popcorn, and even by itself. Moreover, it is also carb-free, sugar-free, and calorie-free making it a healthy choice for all.

The owner came on Shark Tank to request $300K in exchange for 5% in her company. She also brought a band with her to give her presentation a cheerful effect. Let’s see if she got the deal or not.

I Love Chamoy Net Worth Shark Tank Update

Annie was looking for an investment of $300K in exchange for 5% equity in the company. At the time of the episode, she valued her company at $6 million. Annie did not secure a deal with any of the Sharks. After the show was aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of I Love Chamoy in 2024 is around $4 million.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Kevin O’Leary	$300K for 5% equity	$300K for 12.5% equity	No
Mark Cuban	Out	N\A	N\A
Lori Greiner	Out	N\A	N\A
Barbara Corcoran	Out	N\A	N\A
Jason Blum	Out	N\A	N\A

The Owner’s Backstory

Annie’s father was diagnosed with diabetes when they arrived as an immigrant in America. Thus, he was unable to eat and enjoy the sweet and tangy candies from Mexico. His struggle made Annie work on a sauce that could be eaten by her father. This resulted in the creation of I Love Chamoy sauce.

The sauce acts as a Mexican ketchup and can be eaten with anything, even with fruits to get that sweet, salty, and tangy flavor in every bite. She presented the sharks with her sauce along with a fruit bowl, non-dairy ice cream, and margarita, which are all-time favorites of most of her customers.

Initial Pitch

The owner came on the show to seek $300K in exchange for a 5% equity stake. Her product is a Mexican sauce that is not only tasty but also healthy to eat for diabetes as well. It is not only carbs and calories-free but also sugar-free, which is a very thing that people want to add as a staple to keep themselves healthy.

Queries about the Product

Lori asked the first question about the sweetener in the sauce. Annie replied that it is sweetened with monk fruit.

Kevin inquired if the product is a sauce, then why is she tagging it as a candy? She highlighted that she grew up eating it as a Mexican candy sauce.

She also added that she has another product line and presented it in a pinata, which was opened by the guest shark Jason Blum. It was a chamoy gummy in a chili watermelon flavor, which is also sugar-free. It was launched a few months ago and also became successful.

Cuban wanted to know where she was selling the product. The owner pointed out that they are selling the product directly through their website in a D2C manner.

Moreover, last year her business made $550K in sales and now they are at $1.3M. Their upcoming year’s projection is estimated to be between $3.8M and $4M. All of these sales are from the sauce only.

Corcoran and Cuban were interested to know how she attracted customers to her product line. Annie highlighted that 80% of her products are organic and are all known to the people through social media. She has 1.5M followers collectively across all social media channels and her product is in 250 stores around Texas. She is also into nationwide retailers which are specialized in home goods.

Kevin then asked about her partners in the business. She related that she is the only one running the whole business, which is pretty impressive.

Kevin also wanted to know the cost of the product to make and sell it to the customers and the wholesale. The owner highlighted that the product is made between $1.60 and $2. It is then sold directly to consumers for $12 on her official website. The product’s selling rate to the retailers is between $3.90 and $4 and they then sell to the customers for $6 to $7.

She also has no debt on her business.

Cuban then inquired about her profits. Annie replied that this year’s profit is estimated to be $1.5M.

Blum wanted to know if she was trying to make her product available to all beyond the Mexican community. The owner confidently highlighted that she wants her product to have a footprint nationwide, especially through retail.

Shark’s Response and Final Decision

Corcoran was the first shark out of the deal as she was not interested in the retail part of the business.

Kevin offered her $300K for 15% of her company.

Lori then backed out too as she considers the business to be successful without an investor and besides Annie is doing great on her own too.

Blum then highlighted that he has no expertise in the field and thus he is not fit to be an investor in her business.

Cuban praised her product but he does not consider himself to be fit for the business. Thus, dropping the deal.

Annie counter-offered Kevin $350K for a 7% equity stake. Kevin readily rejected it as he wanted a bigger share to work on the retailing side of her business.

She then counter-offered Kevin for the second time. She pitched $300K for 8% of her company. Kevin then revised his offer to $300K but for 12.5%, which is his final offer.

Annie didn’t accept the offer and walked away from the show with no deal on her hands.

Product’s Availability

Even though Annie didn’t secure a deal on Shark Tank, her business is still successfully growing. You can find her products on Amazon, and her social media presence is steadily growing. On the I Love Chamoy website, there’s also an option to join their referral program and get a 15% discount on your order. After the episode aired, Annie shared that she would be adding two new sauce flavors: pickle and spicy watermelon.

Conclusion

Thus, despite not securing a deal on Shark Tank, Annie’s business, I Love Chamoy, continues to grow. Her unique Mexican candy sauce has gained popularity, with products available on Amazon and through her website, where customers can join a referral program for discounts. With a strong social media following and plans to introduce new flavors, Annie’s company is well on its way to further success, showing that she doesn’t need a Shark to make her vision a reality.