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James Martin returned to Shark Tank to pitch his product, Copa Di Vino, again on season 3 episode 11. He had previously rejected an offer from Kevin O'Leary in season 2. James reintroduced his product and shared that his sales were projected to be over $5 million that year. He revealed that he was having trouble keeping up with demand, receiving twice as many orders as he could produce.
James mentioned on his Shark Tank return that he had proven the value of his company. Kevin O'Leary made an offer of $300,000 for 12% stake. Daymond declined, saying he still was not interested in the concept. Mark Cuban expressed concerns about the valuation. Barbara Corcoran also declined, citing concerns about the business.
"As I'm listening and listening, I'm having the same visceral reaction. For some reason, I hope you take it well, I didn't like you then, I don't like you now. But I don't where it's coming from. I just have to say, I'm out," said the Shark Tank investor Barbara.
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Later, James made a counteroffer of $300,000 for 8% equity in which Mark and Kevin were not interested. The three sharks (Kevin, Mark, and Robert) then made a joint offer of $600,000 for 30% equity. After hearing the offer, James refused to give his decision, which resulted in the sharks withdrawing their offer. In the end, he left without a deal for the second time.
What happened in the first Shark Tank appearance of Copa Di Vino?
James Martin presented his company, Copa Di Vino, on season 2 of Shark Tank. He said his product allowed people to enjoy premium wine on the go. Kevin O'Leary asked if James was selling the packaging or competing in the wine industry. James explained his three revenue streams, including licensing, bottling, and consumer sales.
At the time, Copa di Vino had been on the market for five months, with $500,000 in sales and over $800,000 in orders. Daymond John dropped out, thinking the company was too early for investment. Kevin and Robert Herjavec were interested in the packaging business. Mark Cuban suggested James return with a proposal for the intellectual property.
Kevin offered $600,000 for 51% of his IP. Robert and Barbara Corcoran dropped out. Mark Cuban also withdrew, saying he did not see the profit. James made a counteroffer of $3 million for 51% equity, but Kevin rejected it. Kevin dropped out, and James left without a deal.
According to Mashed, in 2014, Copa Di Vino partnered with 3G's Vino to expand its distribution. The partnership allowed Copa Di Vino to enter Walmart and other grocery stores, as well as sports and music venues.
In 2020, Copa Di Vino was acquired by Splash Beverage Group for $5.9 million. The acquisition expanded Copa Di Vino's distribution to over 13,000 new retail locations, hotels, restaurants, and event venues.
As of 2023, Copa Di Vino continues to be successful. The company's products are available at various locations, including hotels like Marriott and Hilton Garden Inn. Copa Di Vino's products are also sold at Walmart, Kroger, and 7-Eleven. The company's net worth is approximately $70 million.
Copa Di Vino offers several types of wine, including Moscato, White Zinfandel, and Cabernet Sauvignon. The products are priced at $3.49 per glass, with variety packs available for $13.96 or $20.94.
Season 16 of Shark Tank is currently available to watch on ABC.
