What Is Zipz Wine?
For those who enjoy drinking while travelling, ZIPZ Wine is a single-serving wine glass that is ready to ship. The ZIP Wine bottle resembles a conventional wine glass and contains the wine of your choice.
Just take off the outer wrapper so you can enjoy your delicious beverage. The creator of Zipz wine promotes the item as a transportable wine glass that does not leak or spill while moving around.
On the Shark Tank programme, Zipz Wine scored one of the best deals. For a 10% share in Zipz Wine, an investment of $2.5 million was made.
|Company Name||Zipz Wine|
|Product||Single Serve Wine|
|Investment Seeking||$2.5 Million For a 10% stake in Zipz Wine|
|Final Deal||$2.5 Million For 10% + Right To Buy 10% At The Same Price If Exiting|
|Episode||Episode 11 Season 6|
|Business Status||In Business|
Who Is the Founder of Zipz Wine?
Zipz Wine was established by J. Henry Scott and Andrew McMurry, two seasoned wine business professionals who also serve as the CEO and President of Zachys Wines.
The fundamental objective of the originator was to offer a packed, single-serving wine that is more portable and hygienic. McMurry and Scott spent day and night perfecting the idea, and as a result, the zipz wine was created.
Zipz Wine Before Shark Tank:
Two seasoned professionals in the wine industry, Andrew McMurry and J. Henry Scott made the decision to develop a single-serving wine glass that is portable and has better packaging.
The initial set of drawings lacked any wrapping that would have caused wine to leak from the package, which was improper. Scott was concentrating on making the package design better.
The zipz wine was created by the two founders, who also brought the zipz to their packaging and made it simple to zip off the outer container. The zipz wine’s dual-purpose coaster and cover made it easy to transport and consume, and it also extended the wine’s shelf life.
How Was the Shark Tank Pitch of Zipz Wine?
On the Shark Tank programme, Andrew offered his product, Zipz Wine, in exchange for a $2.5 million investment and a 10% ownership stake. Sharks’ reactions when hearing the founder of Zipz Wine’s request for investment in their product were odd.
The company’s founder described Zipz Wine as a packaging and licencing business that offers an alternative to throwaway wine-filled bottles and glasses for convenient serving. In order to reveal the contents, Andrew unzipped the outer cover.
According to Andrew, the Zipz Wine packet’s cover shields the wine from UV rays. To show how the glass may also be used as a coaster, Andrew unscrews the cap and screws the lid to the base.
James Martin, who made two appearances on the programme with the same product called “Copa-di-vino,” declined to use the tanks each time. More than 25 investors were prepared to invest in zipz wine, and Andrew told the sharks that he had guaranteed them an investment of $8.5 million.
According to Andrew, the investors are mostly Wall Street executives, including the owners of three big sports franchises. Since its release, the Zipz wine has brought in $650,000, according to McMurry.
The 1200 locations selling Zipz wine across the country are where you can get it. The founders are eager to sign a distribution agreement with Costco. O’Leary and every other shark finally surface. Kevin argues that by reducing the product’s price, he will be able to buy his Costco supplies.
The package can be changed, Andrew replies. Because he still has the option to buy an extra 10% of the company as part of the exit, Kevin O’Leary accepts the offer. O’Leary might spend $10 million to acquire 20% of a company valued at $50 million, for instance. The $2.5 million investment Andrew McMurry attracted is the show’s largest to date.
Final Agreement: Andrew McMurray will invest $2.5 million for a 10% interest in Zipz Wine.
What Happened to Zipz Wine After Shark Tank?
On the Shark Tank Show, the Zipz Wine creators closed one of the best deals. The company’s future, however, was not as promising as the sharks had suggested on the show.
After the Shark Tank show, the founders of Zipz Wine encountered numerous difficulties. One of the most significant ones was that they couldn’t handle the growing client demands and sales volume since they weren’t equipped to handle it.
A tour of the facilities was given to Andrew and Kevin, who were astounded by the automated filling line that filled each glass from the bottom, preventing oxidation. Additionally, Arctic Beverage and Zipz agreed to a national alliance. The company’s Chilean wine line is called Chillin.
Their responsibility now, according to Andrew, was to concentrate on the packaging and royalty collecting. A national partner was essential because of the piggyback impact of other brands. Other wineries would be interested in taking part as Zipz made its way into store shelves where Chillin was already accessible.
This was about lofty ideas for Andrew. He was going to leave Zipz as his legacy. He was anxious to make a lasting impression after spending decades in the wine industry. “Grasshopper, you performed admirably.
Kevin commended you for your attention to royalty. By changing their business approach, Andrew and the other Zipz members have secured their futures in the wine and packaging industries.
Zipz Wine stopped creating wine and now only focuses on licencing agreements. Zipz wine packets are available in many shops around the nation and online at retailers like Amazon and Walmart.com.
Who Are the Zipz Wine Investors?
The creators of Zipz Wine claim that 25 investors contributed $8.7 million to the company in 2014. On the Shark Tank programme, Andrew committed $2.5 million for a 10% share in Zipz Wine, which would be worth $25 million by 2014.
The majority of investors, including the owners of three professional sports clubs, were Wall Street professionals, according to Andrew.
How Does Zipz Wine Make Money?
On Shark Tank, the company’s founder, McMurry, mentioned that they were involved in the licencing and wine industries. Products from Zipz Wine are available in 1200 retailers nationwide, and the company has made $650,000 in sales annually since its founding.
After partnering with Fetzer, their product was offered at sporting events and six stadiums. Additionally, Andrew mentioned that they were in contact with Yellow Tail and other wine labels. The company declared that it would stop selling wine and concentrate only on its Zipz packaging business during a Beyond the Tank episode.
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