Thursday, 11 January 2018

Billion Dollar Buyer: Social Sparkling Wine Accepts $300,000 Offer from Tilman Fertitta

Social Sparkling Wine Tumblr

This week, Tilman Fertitta meets with Leah Calpanis and Courtney Criezis of Social Sparkling Wine.

Social Sparkling Wine offers clean, organic alcohol that contains only 88 calories. According to their website, Calpanis was inspired to create the business after being diagnosed with thyroid cancer at age 26. “With her life on the line, she renewed her commitment to wellness by quitting drinking, going vegan and educating herself on holistic approaches to healing her body.” She then “set out to create [an] alcoholic option that would bring people together to connect and enjoy life, without impacting their next day’s activities,” according to their mission page. Flavors include Elderflower Apple, Hibiscus Cucumber, Pink Grapefruit Ginger and Toasted Coconut Almond. A four-pack of wine costs $10.99.

They are currently in more than 2,700 stores but hope to expand to bars. Fertitta immediately puts it to the test and admits that he “loves” the flavor. The second taste test, however, is a bit less successful since he likes the flavor, but thinks it was a bit flat. He acknowledges, though, that the packaging and custom tap handles are great.

Last year, they did $829,000 in sales. Fertitta is very impressed with the taste and challenges them to test their wine at Bubba Gump Shrimp on the Navy Pier in Chicago. Once there, passersby are initially more inclined to try beer over the wine, but their products gain more popularity over time. Both men and women alike admit that the wine is refreshing and flavorful. Their other tests are successful as well.

They encounter an obstacle, however, when a distribution issue arises. The Golden Nugget says they didn’t get the product and the duo says they need to take the steps to improve before deal day.

On deal day, Fertitta learns that the carbonations issues were fixed and he gives an update on a group of people who drank their wine through the night. On their hangover reports, most people admit that they liked it and had no issues the next morning. The product is also selling well in restaurants, but Fertitta is still hesitant due to the distribution issues and shifting responsibility. Ultimately, the duo proposes 100 restaurants with 2,500 cases for $150,000. He counters with 200 restaurants with 5,000 cases—a $300,000 deal.

See how social media reacted to Social Sparkling Wine’s appearance on “Billion Dollar Buyer” below:

Social Media Reacts to Social Sparkling Wine’s Appearance on “Billion Dollar Buyer”

According to CNBC, the reality television show “introduces promising companies across the country to one of America’s most successful businessmen: billionaire hospitality mogul Tilman Fertitta, Chairman, CEO, and sole shareholder of Landry’s, Inc.” Featured entrepreneurs present their small business to Fertitta in the hopes that he will place a large purchase order. But before they make their pitch, they must prove to the hospitality mogul that their product is worth it through challenges and customer feedback.

What are your thoughts on Social Sparkling Wine? Did you like Fertitta’s offer? Sound off in the comments section below!

Source: B2C

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