Meet Whitney and Chaz Gates, an African-American husband-and-wife team from Dallas, Texas, who are the proprietors of the wine label Wondry. Since making a deal with investor Mark Cuban on the television show Shark Tank almost a year ago, the Gates have seen their sales skyrocket to one million dollars.
In November 2022, the pair appeared on Shark Tank to sell Wondry. At the time of their arrival, the company had already made $250,000 in lifetime sales and $60,000 in profit over 11 months.
They struck an agreement with Mark Cuban, who financed $225,000 in return for a 15% ownership stake in the company, and the deal went through. In a little over a year, their Texas-based company transformed into a brand known around the country, as Whitney explained to Benzinga.
In August of 2021, Whitney and Chaz launched Wondry with an initial investment of one hundred thousand dollars from their resources. Their road as aspiring business owners was paved with success thanks to Whitney’s experience in marketing for beverage brands and Chaz’s legal skills gained from working for a technology firm.
In the beginning, their objective was to find an investor so that they could automate the activities that required manual labor and grow beyond the confines of their current 1,400-square-foot premises. Wondry currently runs out of a 10,000-square-foot facility, thanks to an investment from Mark Cuban. Their 100% natural cocktail wines, including tastes of berries, citrus, and exotic fruits, are now available in over 400 retailers nationwide. This is a significant increase because there were just 50 stores a year ago.
Not only did Cuba’s investment bring wealth, but it also offered essential contacts. Two weeks after the investment, he introduced the Gates to a significant alcohol distributor. This relationship has prepared the path for a distribution contract, extending Wondry’s reach to restaurants, stores, and airplanes across the United States.
