Monday, March 4, 2024

Obvious Wines After Shark Tank Update 2024 – Where Are They Now

Obvious Wines Before Shark Tank

Wine is a very popular drink in many parts of the world. People enjoy taking it by themselves and with others so much that there are even clubs dedicated to wine tasting.  Unfortunately, there is one major impediment to enjoying a good bottle of wine: wine culture.

Wine has, unfortunately, always been associated with a group of people who feel themselves better than others, snobs. The wines themselves are also sold in bottles that are difficult to read and anyone new to wine-drinking will have a hard time deciphering what the bottle says and not buy because they were too intimidated to ask.

Brice did not like the culture that was associated with wine. He also knew that sometimes winemakers add ingredients that add little value to the wine but make it sound more exquisite and this was another practice that he did not like and so he created Obvious Wines.

Obvious Wines packages its wines in bottles with simple labels that are easy to read and understand. Brice initially lived in France, a country famous for its wine but he has moved to the USA. It’s in California, USA, that he started Obvious Wines.  The Obvious Wines front label only has details about the taste of the wine while the back label displays where it’s from, what food it goes with, and tasting notes, which connoisseurs appreciate.

Obvious Wines are also made from grapes farmed on eco-friendly farms.  Brice needed more capital to grow and help with marketing so he approached Shark Tank. His application was successful and he was invited to be on the 12th episode of the 10th season.

Obvious Wines On Shark Tank

Obvious wines 2 Brice went into the shark tank looking for $500,000 for 15% of the company. He gave his presentation with a mime as an ode to his French heritage. He had with him two flavors of wine that they made: red wine, and white wine.  He showed the sharks how simple the labels were and then gave each shark a glass of each wine to taste.

Lori said that she liked the white wine even though she was not a fan of white wine itself. The other sharks agreed that the wine was good then Daymond asked Brice for his history. Brice said that he had got a degree in business and worked for L’oreal in their finance department when he moved to America. He developed an interest in American and specifically, California wine. While still working for L’oreal, he started Obvious Wines but he quit his job.

Brice had quit his job the week he got his distribution deal which was 7 months before. Robert then asked him how he had decided to quit his job and Brice told him how his interest in wine developed. However, he was lost and he noticed others like him who were not only lost but also intimidated by the wine culture. This is what motivated him to start the company.

Daymond asked him why he had decided to quit his job. Brice said that when he did his pilot test the wines sold out indicating that it would be a success.  Robert then asked him what it cost to import the wine. Brice said that its retail price was $16 but it was sold to retailers for about $11

Kevin then asked where he sold them and he was told that the wine was sold in California through a distributor.  The wine was available in 100 locations. They had opened for a few months and had already sold wine worth $100,000 wholesale price. This is approximately 9,000 bottles.

Obvious wines 4After Robert clarified that all he was doing was making wine less snobby, he asked Kevin why he hadn’t done this since Kevin had his own brand of wine. Kevin said that it was unnecessary for him because his name was a trusted brand name. Daymond said that Kevin was the wine snob and couldn’t be Brice’s customer.  The sharks then toasted to the Chevaliers du Tastevin, a wine-tasting club that Kevin always brought up.

Robert then asked Brice how he planned to go large-scale as this would increase revenue. Robert asked if he was going to hire salespeople to build relationships for him.

Daymond said that he had seen firsthand with Kevin how hard someone had to work to build those relationships. Daymond then left because of how hard it is to build a brand. Kevin followed suit. He said that he had his own brand of wine which he expected would get $10,000,000 in revenue making it in the top 5% of wines. He then toasted to Brice as he confirmed that he was out.

Mark Cuban then left. He said that he didn’t invest in companies that had mimes as they weren’t entertaining. Lori then offered the $150,000 that Brice had asked for but for 12.5%. She thought that there was an opportunity for her to grow with the company since it was still young. She also knew that women drank a lot of wine and there was an opportunity to sell to them which she could do.

As Brice thought of the offer, Daymond encouraged him to take it as Lori could have gone much higher and asked for as much as 20%. Brice acknowledged that the offer was good. He then said that he thought he would be offered 7.5%. Lori said that he was just starting and he needed her muscle. Daymond asked him if he was a snob for raising his offer by only 2.5%. Brice then offered 10%.

Lori refused and she insisted that she was worth it. Brice then offered the 12.5% she asked for but for $170,000. Lori said that she was willing to give $160,000 for 12.5%. Brice then accepted the offer and the deal was made. As he left, he said that having Lori on board was a huge step for Obvious Wines as she would bring the big buyers he needed to boost sales and make the business a success. He then toasted to Chevaliers du Tastevin, the knights of tastevin.

Obvious Wines Now in 2024 – The After Shark Tank Update

Obvious wines 3Unfortunately, the deal with Lori did not go through and Obvious Wines is not listed as one of her companies on her site.  Not everything has been a loss though and one of the benefits that the company experienced from its moment on the show was the exposure which led to a lot of people inquiring about the wine.

Obvious Wines does not just sell directly to distributors anymore. It also set up a website where it sells online. The wine company has now added other wines to make a total of 6 wines in its collection.

Obvious Wines has also been awarded two awards by Cosmopolitan Magazine. Obvious Wines No. 6 was awarded the Best Sustainable Rose in 2021. Obvious Wines Light and Lively was recognized as the Best Wine to Drink By Yourself While Watching Reality TV. On Instagram, the company has more than 8,000 followers.

Even without a deal, Obvious Wines went on to do a crowdfunding campaign and raised $223,512. It is currently valued at $11,000,000 and recorded revenue of $1,300,000. It sources its grapes from California, Chile, and France and it’s safe to say that it has found its success in simplifying the wine-drinking pass time even without the deal.

Victor Kamwengu
Victor Kamwengu
Victor is a movie buff, dog lover and author of a wide variety of subjects. When he's not tapping away at the keyboard, you can probably find him cozied up on the couch watching a cult classic or catching up on new releases.
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