With Korean culture, K-pop, and K-drama actors taking over the world, it isn’t surprising that people are now familiar with the concept of Kimchi and are even buying to try it out for themselves.
Mama O’s Premium Kimchi was a brand that made its appearance on Shark Tank Season 14, showcasing its in-house and high-quality kimchi. With four different variants of kimchi showcased, the owner and the company in general gained a lot of applause on the show.
If you have been curious to know more about Mama O’s Premium Kimchi and how the company is doing post-Shark Tank, you have come to the right place.
Shark Tank Mama O’s Update
- Entrepreneurs – Mama O and Kheedim Oh
- Business – Kimchi varieties
- Ask – $200,000 for 10% equity
- Result – No deal from the sharks
- Sharks – None of them
Shark Tank has witnessed a variety of different products appear on their show, including frozen foods and snacks too. However, this was the first time that someone brought their Kimchi brand on the show, which left the sharks quite pleasantly surprised.
Mama O presented four different types of kimchi for the judges to taste. These are the variants that they sell to consumers as well. During the breakdown of the costs, it was revealed that each bag of Mama O Kimchi is sold for $10 a bag, making it a pretty decent price point.
Since the company is already showcased in Whole Foods, Mama O confirmed that they draw the majority of their sales from there. The company was doing pretty well before its appearance on Shark Tank.
According to the revenue and sales, Mama O’s Kimchi made $800,000 in revenue in 2021 and was about to hit the $1 million mark in 2022. They confirmed that the net profit from the business was around 25%, which is a pretty great margin.
Although the company was already thriving, none of the sharks wanted to take that leap of faith and invest in the company. According to them, they couldn’t believe in the stability of the company and didn’t see a bright future for the product.
Daymond John was still contemplating making an offer but he was very confused about it until the end, following which he decided to back out from making a counteroffer. None of the sharks wanted to invest in the company.
Despite not receiving any deal for the sharks, Mama O’s Kimchi is thriving and they are available in several retail stores across the U.S. We couldn’t find official numbers in terms of sales and revenue but the good news is that they are still in operation, which means that the lack of a deal on Shark Tank didn’t buckle them down.
Following its appearance on Shark Tank, the company received a big boost in its sales, which further helped with its growth and availability across different Whole Foods retail outlets. The brand is easily earning millions concerning its revenue.