What Happened To Mavens Creamery After Shark Tank?
Mavens Creamery appeared on "Shark Tank" in 2019, presenting a creative way to elevate the French macaron: adding ice cream to turn it into a colorful and sophisticated ice cream sandwich. Sisters Gwen and Christine Nguyen were asking for an investment of $400,000 in exchange for 10% of their company.
Gwen and Christine shared some samples of their ice cream sandwiches with the Sharks, featuring various macaron flavors. Meanwhile, the sisters told the Sharks their story. They were inspired by their father, who fled Vietnam on a boat in 1975 and worked extremely hard to provide for them, holding down two jobs and putting off his dreams of owning a business. After reaching a breaking point with her career in 2014, Gwen decided to go all-in on becoming an entrepreneur in the world of ice cream, using YouTube and Google to teach herself what she needed to know to craft these unique macarons.
Before they appeared on "Shark Tank," the Mavens Creamery duo went from selling their ice cream sandwiches out of a small dessert shop to mass-producing and selling their products at Safeway and smaller retail stores. Ultimately, Barbara Corcoran offered $400,000 for a 25% stake in their company. While the Nguyens agreed to the deal, it did not go through after the show.
Did any of the Sharks bite?
Gwen and Christine Nguyen shared their sales numbers with the Sharks, boasting $1 million under their belt as of 2019 and projecting $2 million by the end of the calendar year. There was obviously high demand for their products, they were looking for help in growing their business to meet this demand.
One of the Sharks, Kevin O'Leary, voiced concerns about shelf life and production costs. However, the Nguyens assured the Sharks that shelf life was stable and that they were working to decrease production costs through automation — something the investment would help achieve.
Mark Cuban called the Mavens Creamery ice cream sandwich product "amazing" and seemed impressed by the quality of sisters' product despite their lack of formal culinary training. However, he identified the main challenge for them would be their extremely slim profit margins, which could be a real risk for their business, prompting him to decline. Daymond John, Lori Greiner, and Kevin O'Leary all bowed out as well.
Barbara Corcoran was still wowed by the product and was moved by the story of wanting to impress and provide for their parents. She offered a $400,000 total investment — broken into $200,000 cash and a $200,000 line of credit — in exchange for a third of their company. The Nguyen sisters countered by offering a 25% share instead, to which Barbara agreed.
Mavens Creamery after Shark Tank
After appearing on the show, it seems that Mavens Creamery continued to steadily grow and evolve. While their deal with Barbara Corcoran didn't close, they've gradually expanded their products to more stores in more locations nationwide. After a brief shutdown of production during the pandemic, Mavens Creamery appears to have rebounded, with annual revenues having grown to $3 million.
The Nguyens also have automated their production despite the "Shark Tank" deal falling through; in 2021, their Facebook featured a machine they called "the newest member of their team." The company also introduced frozen cheesecake filling to their macaron sandwiches in 2020, offering more flavors like vanilla white chocolate and banana cream, along with their other Asian-inspired flavors like ube coconut.
Some changes to their product line also appear likely to fuel future growth. The creamery has rolled out a new purely ice cream offering: durian ice cream. Featuring real pulp from "the king of fruits," aka the stinky (and debatably delicious) durian, the ice cream is sold by the pint and is an intriguing development from the company, which was formerly focused only on macaron sandwiches. It's now sold at select Costcos in the California Bay Area, but Mavens Creamery has created a Facebook group to help fans of the ice cream find it at stores near them.
Is Mavens Creamery still in business?
Mavens Creamery appears to be alive, well, and still in business. In addition to selling at Safeway and independent retailers, Mavens Creamery products are now available at Whole Foods in California and the Northeast, as well as Vons, Kroger, Albertsons, and more.
It appears that the company is working to diversify its offerings as it continues to expand and meet nationwide demand. It currently features eight flavors of their ice cream sandwiches, including passionfruit mango and salted caramel, and still garners social media praise for the delicious product.
The durian ice cream also appears to be a hit with lovers of the fruit, with many TikTokers posting reviews of the dessert in recent months. While it went for a whopping $17.79 for two pints at one Bay Area Costco, a TikToker raved about the texture and flavor of the yellow, custardy ice cream, saying it was "smooth, creamy, strong durian flavor and very rich." One Instagram user reported it sold out at their Costco in a couple of hours. On the official FAQ page, Mavens Creamery warns about the durian ice cream selling out and suggests following their Facebook and Instagram pages for updates.
What's next for Mavens Creamery?
Lately, it seems that Mavens Creamery is planning to focus on its ice cream that features the world's stinkiest fruit. Their page for retail partnerships and contacts exclusively features photos of their durian ice cream product, and their Instagram has been flooded with durian-themed memes and content over the past few months.
The Mavens Creamery official Instagram account recently posted that they were ramping up production of its durian ice cream to improve restocks, avoid sellouts, and expand to new regions like SoCal. Other eager fans of the creamery are waiting for the product to expand outside of California. Unfortunately, some fans commented that there has been a disappointing dip in the quality of the ice cream. Mavens has responded to complaints and claimed to be launching an investigation into the quality issues. All of this aside, signs continue to point to strong demand and room for growth for the Nguyen sisters' company. Stay on the lookout for Mavens Creamery products coming to your local freezer aisle.