Entrepreneurs Ryan Neergaard and Ron Scharman pitched their company, FlyWithWine, on Shark Tank Season 15. FlyWithWine specializes in innovative wine luggage and suitcases, including the VinGardeValise wine luggage and the VinXplorer beverage backpack, designed to help people travel worldwide without worrying about their wine or beverage bottle breaking during transit.
Their company generates millions in annual sales but is not yet profitable. They need the Sharks’ help to make the business profitable. Did the Sharks show interest in investing in this suitcase company? Let’s find out what happened.
| Company Name | FlyWithWine | |
| Founder/Co-Founder | Ryan Neergaard and Ron Scharman | |
| Founded | 2016 | |
| Product | Wine luggage and suitcases | |
| Asked For | $500k for 8% equity | |
| Final Deal | No Deals | |
| Shark | No Sharks | |
| Episode | S15 E9 | |
| Air Date | Dec 15th, 2023 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Napa, California, United States | |
| Annual (Revenue) | $3 Million *estimated | |
| Worth / Valuation | $6.25 Million | |
| Buy and Watch | Buy Now | Amazon Prime |
What Is the Background of The Founder?
Ryan Neergaard and Ron Scharman founded FlyWithWine in 2016. Ryan has a marketing background and has worked with several companies like Napa Valley Wine Train, Chatterbox, and Astra Digital.
Ron, on the other hand, has an accounting and finance background and previously served as the Chief Executive Officer at Astra Digital Marketing.
In July 2024, Ron stepped away from FlyWithWine and is now working as the General Manager of the Winery Division at ForsterVGV, the brand owner of VinGardeValise.
Business Pitch Episode Recap
Ryan and Ron entered Shark Tank seeking $500,000 for 8% equity in their company. They demonstrated their Wine Luggage and Beverage Backpack to the Sharks, showcasing how the products help travelers carry wine and beverages safely.
They explained that the product is based on a licensing model; they do not own the patent but have a 10-year worldwide exclusive licensing agreement for the product.
The Sharks found the VinGardeValise wine luggage quite interesting because it not only ensures wine is carried safely and securely but can also be used as a regular piece of luggage.
Kevin O’Leary asked the entrepreneurs about the company’s sales and profits. In response, Ron shared that they have achieved total sales of $19 million, with 50,000 travelers purchasing their suitcases.
Over the last 12 months, they generated $5.6 million in sales but incurred a loss of $470,000. So far in 2023, the company has made $2.3 million in sales but has faced a loss of $100,000.
The company is operating at a loss because it spends most of its money on advertising and reinvests in the business to fuel growth. Additionally, they currently hold $1.5 million worth of inventory.
The 12-bottle suitcase set is priced at $379.95, the 8-bottle suitcase set at $339.95, and the 5-bottle suitcase set at $289.95, with profit margins ranging from 60% to 62%. Additionally, the backpack is priced at $199.95, with a profit margin of 71%.
Ron revealed that in the past 12 months, they generated $3.4 million in sales solely through Amazon. They also generate sales from various other sources: 14% from their website, 40% from wholesale, and the rest from other e-commerce platforms.
Mark Cuban said that this is a hard business to scale and make profitable, so he is out.
Robert Herjavec believes that this business is not investable for him because the entrepreneurs do not own the product’s intellectual property rights. Therefore, he is out.
Emma Grede also cited the lack of intellectual property rights as the reason for her decision, stating that she is out.
Lori Greiner said that the business is generating good sales, but something seems to be wrong, which is preventing it from becoming profitable. Therefore, she is out.
Ryan and Ron’s last hope was Kevin O’Leary, but he also declined to invest. In the end, all the Sharks rejected FlyWithWine.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Robert Herjavec | No Offer |
| Kevin O’Leary | No Offer |
| Mark Cuban | No Offer |
| Emma Grede | No Offer |
| Lori Greiner | No Offer |
| Founder’s (Countered) | No Counter |
| Final Deals | No Deals |
FlyWithWine Shark Tank Update
The Sharks decided not to invest in Ryan and Ron’s company, FlyWithWine. However, this did not have a significant negative impact on the business. Their sales doubled weekly, and all of their sales were organic, largely due to their appearance on Shark Tank.
During our research on the company, we found additional information from Ronald Scharman’s LinkedIn profile. In July 2024, he left FlyWithWine and, in August 2024, began working as the General Manager in the Winery Division at ForsterVGV, the brand owner of VinGardeValise.
Check out Shark Tank Season 15 Business Update.
You can see some businesses from Season 15 here.
