Mango Mango Jams, Jellies and Preserves
Prior to the appearance on Shark Tank, Mango Mango was a company that few people had ever heard of. Their products were mostly carried on some shelves of smaller, mom-and-pop type stores, but these three ladies had a big dream on hoping to bring their product all across the United States. Read on to find out more about Mango Mango preserves.
Mango Mango Shark Tank Appearance
Nzinga Teule-Hekima, Lakesha Brown-Renfro, and Tanecia Willis are all the three heads of “Mango Mango Preserves,” and are seeking a $75,000 investment for a 20% stake of their company. These ladies call their Mango Mango products as a “Party in a Jar,” and reveal that Mango Mango is based around creating easy-to-serve preserves to give foods a unique Mango Mango taste. The ladies also have no real experience as chefs, but through experience have learned their craft. All while explaining the possibilities of mixing foods with their preserves, the ladies chant “Spread it, Mix it, Shake it, Stir it.”
In an attempt to win the sharks over, the three ladies of Mango Mango have samples available for the sharks; Mango Mango fruit dip, Mango lemonade, and Mango Ginger Shrimp. The sharks immediately take to liking all of the foods, which have been made with Mango Mango preserves and otherwise prepared with simple ingredients.
Kevin immediately takes to questioning the uniqueness of the product; he asks about all the other people who might be making similar preservative products. The ladies of Mango Mango reveal exactly how much each item is costing them, but they have made quite a profit – they produce each jar of Mango Mango preserves for around $2.20 and sell them for $3.96, which the retailer can then vendor them at on their preference. The ladies then also say they are working smaller events like farmer’s market and craft fairs, as well as selling them in local health food stores and similar markets. Robert questions the high price, to which one of the ladies responds that the price for producing one unit is so high because of the fact that Mango is a tropical fruit.
With the investment from Shark Tank, the three ladies of Mango Mango intend to invest in a facility where they can make a larger scale operation for Mango Mango products. The sharks ask why they don’t instead find a co-packer, which can handle all the processes of producing the Mango Mango products, shipping it, and other logistics. Kevin then says that the amount of sales just simply do not work in the long term, and he used to own a company like Mango Mango that also made preservatives and jams and jellies; eventually, they had to sell the company because of the recipe slipping out to all the other competitors.
The sharks then ask more about the day-to-day lives of the ladies of Mango Mango, to which they say they are a military wife, a registered nurse, and a physician. The sharks then say that they need to work on lowering the cost of each produced jar, in order to stay in business long-term. At this point, Robert stands up and sneaks over to a dessert sitting on the table – it appears to be a creamy sundae created with the Mango Mango preserves, topped with whipped cream and a strawberry. The ladies reveal that all the dessert is is cream cheese mixed with the preserves.
The sharks start to then question what exactly their investment will be going towards. Lakeisha says that they will be looking to send out an order throughout the entire military commissary, which could potentially be a huge payday for Mango Mango. Kevin reveals the unfortunate truth that there is not enough margin for there to be a distributor and take the product; Robert passes the sundae down to Mark, stands up, walks over and helps himself to more of the prepared garlic shrimp, insisting that he really isn’t there. Even Mark makes a comment about the taste of the sundae; the knowledge the three ladies have about mangoes appear to be winning the sharks over.
Lakeisha reveals to Robert that the biggest issue so far is production. Mark then folds out from his investment, saying that he simply doesn’t trust the value of mangoes in the long run, despite the knowledge the women have about mangoes. Kevin says that unless the women need to cut down $.75 from their production in order to have a chance to stay in business. Lori mentions all the antics that Robert got into, then says that she does not think that the girls need a Shark to fund their production and they should instead keep their equity and keep making more money for themselves. Daymond also folds, trusting Kevin’s knowledge in the business.
Robert appears to be stunned, thinking for a minute, saying sarcastically that he hated all the food and presentation of it. He says that he likes the down-to-earth tone of the women and that they really are the real deal and connoisseur of mangoes. Robert says that he simply does not know enough about mangoes and would be afraid to steer the ladies in the wrong direction, and eventually folds out as well.
Lori notes that she is glad the women did not find investment, saying that she wants the company to keep the equity that they would otherwise have had to give to a Shark.
Mango Mango after Shark Tank – 2018 Update
Since appearing on Shark Tank, Mango Mango has been picked up by numerous retailers which can be found on the Mango Mango website. Mango Mango has obviously been expanded and are able to ship their products nationwide, as I was able to find a store that carried their products just 5 miles down the street from me and 7 miles after that. No known figures can be found, but Mango Mango has expanded their business to ship online to anyone who wishes to purchase any of the Mango Mango products, as well as to small local carriers up to bigger shops such as Whole Foods and Stop & Shops throughout the nation.