Shark Tank I Love Chamoy, a sugar-free, healthy Mexican sauce brand founded by Annie Leal, telecasted Shark Tank USA in 2023 on Season 15. The founder was seeking $300,000 for 5% equity for their business. Unfortunately, she couldn’t secure a deal with any of the Sharks. In this article, we will explore I Love Chamoy’s net worth in 2024, its Shark Tank pitch summary and more.
I Love Chamoy Net Worth
As of August 2024, I Love Chamoy’s net worth is estimated at $3 million, and its annual revenue was $4 million in 2023.
| Net worth | $3 million *estimated |
| Annual Sales Revenue | $4 million (2023) |
| Profits | $1.5 million (2023) |
| Lifetime sales | Not Available |
| Employees | 11-50 employees |
I Love Chamoy Net Worth Timeline
| Net Worth 2024 | $3 million |
| Net Worth 2023 | $2.5 million |
| Net Worth 2022 | $2 million |
Shark Tank I Love Chamoy Update from Season 15
Annie stepped into the Shark Tank with a Mariachi band playing a spooky version of the theme song. She was looking for $300,000 for a 5% equity, valuing the company at $6 million. “I Love Chamoy” is also carb-free and allergy-friendly, making it great for keto and low-sugar diets.
Chamoy is a traditional Mexican candy sauce that adds flavour to various foods. But traditional Chamoy is often more sugary. Because of that, as a solution, Annie started “I Love Chamoy”, which makes a sugar-free version for everyone, including those with diabetes.
Annie’s drive came from her father’s fight against diabetes and the entrepreneurial spirit in her community. She wanted to offer a cultural experience without health risks. I Love Chamoy uses monk fruit instead of sugar and combines Mexican chile peppers like ancho and cayenne with xanthan gum, citric acid, and lime powder for a unique taste. They also offer a version with hibiscus powder instead of artificial colouring.
In the tank, the sharks tried foods with the chamoy. They all liked it except for Mark, who didn’t like spicy food. Kevin O’Leary was confused as to why Annie called it candy. There, Annie explained that in her culture, chamoy was known as a candy sauce.
After sharing her chamoy sauce with the sharks, Annie revealed she has another product line. She invited guest Shark Jason Blum, CEO of Blumhouse Productions, to help her by breaking open a piñata. These new products were also spicy and sweet, like chamoy.
In her first year (2022), Annie sold directly to consumers through her website and made $550,000. By mid-2023, she reached $1.3 million in sales and expected to finish the year between $3.4 and $4 million. The sharks were impressed, especially since most sales come from the sauce alone. Also, 80-90% of her sales were organic.
At the time of filming, Annie had 500,000 followers across social media. Her products were in 250 stores across Texas, including HEB and Home Goods. Also, the sauces cost between $1.60 and $2 to make. They sell for $12 at retail and $3.90 to $4 at wholesale.
Annie has no debt and expects to profit around $1.5 million this year. She was seeking a shark’s help to expand in the retail market. Mark Cuban praised her achievements. Barbara Corcoran said she was uninterested in retail and decided not to invest.
Kevin O’Leary offered $300,000 for 15% of I Love Chamoy. Lori Greiner said she didn’t want a share of Annie’s business but would be a consumer of her products. Jason Blum didn’t have the needed expertise, so he was out of the deal. Mark Cuban also declined because the product wasn’t fit for him.
Finally, Annie only had Kevin’s offer left. She countered with $350,000 for 7% equity. Kevin said no, so she countered again with $300,000 for 8%. Then, Kevin countered with $300,000 for 12.5% and said it was his final offer. However, Annie turned it down and left the Shark Tank show without a deal.
| Company Name | I Love Chamoy |
| Founder | Annie Leal |
| Business | Mexican sweet sauce |
| Episode | Season 15, Episode 05 |
| Asked Deal | $300,000 for 5% equity |
| Final Deal | No deal |
| Shark | No Sharks |
| Business Status | In Business |
| Company Website | Visit Website |
| Headquarter | San Antonio, Texas |
Summary of the Sharks’ Deal List!
| Shark | Offer | Counter Offer |
| Mark Cuban | No | N/A |
| Barbara Corcoran | No | N/A |
| Kevin O’Leary | 1 – $300,000 for 15% equity from Kevin 2 – $300,000 for 12.5% equity from Kevin | 1 – $300,000 for 7% equity countered from Annie Leal 2 – $300,000 for 8% equity countered from Annie Leal |
| Lori Grinear | No | N/A |
| Jason Blum | No | N/A |
What Happened to I Love Chamoy after Shark Tank?
As of August 2024, I Love Chamoy is still in business. The company is expanding its product line and keeping everything sugar-free. The company encourages customers to try the sauce with different foods, like fruits and pizza.
Although Annie didn’t get a deal on Shark Tank, she is still doing very well without their help. The show not only gave her more visibility but also opened up more chances for growth. As a result, she is reaching more customers, securing new partnerships or distribution deals, and even developing new products.
If you want a sugar-free way to sweeten your food and drinks, visit ILoveChamoy.com and buy a bottle for $35. You can also buy it online from their Amazon and TikTok stores. There are three flavors to choose from: Original, Chili Mango, and Pickle. Each bottle costs $12, and you can save money by buying packs of three or six.
I Love Chamoy has an average rating of 4.8 stars from over 2500 reviews on its website. According to TikTok, it is working on a new spicy watermelon product. For this project, it has moved its shipping and handling to a new warehouse.
I Love Chamoy Founder
Annie Leal founded I Love Chamoy in 2021. Her journey began in Mexico, where chamoy was very popular. After moving to the United States, her father changed his diet and couldn’t find sugar-free Mexican sweets in stores. He stocked up on healthy treats, but nothing fit his cravings.
Annie searched online but found nothing suitable for her dad. So, she decided to create her snack, starting with her favorite, Chamoy. At that time, Annie was a social media manager for a culinary engineer, and she asked for help developing her product. After making 44 prototypes in six months, they finally launched I Love Chamoy in late 2021. Annie’s story resonated online, and after sharing it on TikTok, the first 750 bottles sold out in a week.
I Love Chamoy Achievements and Awards
| Year | Achievements and Awards |
| 2022 | In 2022, Annie and I Love Chamoy won H-E-B’s Quest for Texas Best competition, earning $25,000 and a spot on H-E-B’s shelves |
| 2024 | The company was appeared on Shark Tank Season 15 |
Conclusion
Shark Tank is a TV show that showcases different business ideas and helps them succeed. I Love Chamoy was one of the ventures featured on the show. Despite losing the deal, the company showed that success is possible with the right idea and execution. Now, we eagerly await to see how their success story unfolds in the future.
Before you leave, check out the other company updates in Season 15, Episode 05.
