Mavens Creamery Net Worth 2022

If you’ve been watching Shark Tank, you may have heard about Mavens Creamery. It’s a confectionary company that specializes in macaron ice cream sandwiches. They sell the sandwiches to grocery stores, fast casual restaurants, and independent retailers. Their products are sold in over 300 stores in California and Nevada. The ice cream sandwiches are available at Safeway, Whole Foods, Pavillions, King Soopers, Albertson’s, and more.

The Nguyen sisters started Maven’s Ice Cream without any culinary training. Instead, they honed their skills from their experience with their father, who left communist Vietnam in 1975. When they discovered the best way to combine their mother’s homemade ice cream with the delicate French cookies known as macarons, they became ice cream sandwich artistes. After a couple years, the Nguyens moved their operation from the garage into a small commercial kitchen. Now, they have expanded into the Northeast, Midwest, and Colorado.

Maven’s Creamery has already gained a loyal following. More than 4,000 people like them on Facebook, and more than 22,000 follow them on Instagram. In May 2019, the sisters pitched their business on Shark Tank. The entrepreneur’s goal was to secure an investment deal that would help them expand their business nationwide. As of now, they are looking for someone who will invest in their company in exchange for a percentage of the enterprise.

Originally, the ice cream sandwich company was only found in Kroger’s stores. However, they have since expanded to other Albertson’s locations in California and more stores in the eastern and western U.S. Mavens Creamery has also partnered with Pavilions and Vons to expand its retail presence.

Although the sisters initially conceived the idea of Maven’s Creamery, the sisters didn’t have any specialized culinary training. This led to some challenges. For example, Kevin O’Leary raised concerns about the longevity of their product. But, Gwen and Christine reassured him that their product wouldn’t spoil for six months.

Since its initial appearance on Shark Tank, the ice cream sandwich company has seen tremendous growth. In the past year alone, they’ve brought in more than $1 million in sales, and their plans for the future include developing new flavors of macaron ice cream and frozen desserts.

Barbara Corcoran, who was the only shark to invest in Mavens Creamery, offered a $400,000 investment. Gwen and Christine countered with a $400,000 investment, as well as a 25% equity share in the company. A full partnership with Barbara would give them a 33.3% stake in the business.

Although Maven’s Creamery is currently handcrafted, it has plans to launch an automated manufacturing line. They want to have freezers installed at each of their retail locations. These branded freezers will cost about $1,400. In return, the manufacturer will receive a royalty fee of about $0.15 per unit sold.

Maven’s Creamery’s founders, Gwen and Christine Nguyen, have a net worth of 2.8 million dollars as of 2022. They plan to invest in a new automated manufacturing line to increase their productivity, and they’re hoping for Shark Tank assistance to help them get there.