Copa Di Vino founder James Martin isn’t bothered by the fact that the “sharks” of ABC's "Shark Tank" don’t have fond memories of his two infamous appearances on the hit entrepreneurial reality show.
That is mainly because, despite walking away from the sharks’ gives twice and getting identified as a single of the sharks' most disliked inventors, Martin’s solution is one particular of “Shark Tank’s” most successful.
“We all know the sharks blew it and missed out on the most significant opportunity they ever had -- which was me,” James Martin told ABC News.
Watch the complete story on ABC News "20/20" -- "Shark Tank on 20/20" -- THIS FRIDAY at ten p.m. ET
Martin designed Copa Di Vino, an on-the-go beverage with a portfolio of seven various kinds of wine that come in a patented, single-serving, plastic container with a pull-off and resealable lid.
Martin's Oregon-primarily based, household-owned winery struggled for years just before generating a profit. When the opportunity arose to appear on the second season of "Shark Tank" in 2011, Martin jumped at the possibility. He asked the sharks for $600,000 in exchange for 30 percent of his business to assistance build a lot more inventory.
At initial all the sharks expressed interest and swiftly started creating provides, which includes Shark Kevin O’Leary, who went on to launch his own wine label, O’Leary Fine Wines, in October 2012.
“[The container] that's under no circumstances been performed in wine just before, and I grant him that was a great move,” O’Leary told ABC News. “The issue with him … is he attempted to sell me … on a winery. Now, I am in the winery business enterprise. That is a negative company.”
O'Leary wanted Martin to separate the patent for the Copa Di Vino container from the wine itself so he could focus on licensing the container’s technologies to other winemakers, but Martin wouldn't budge.
Other sharks pitched offers, but as Martin continued to turn down presents, they became significantly less interested with his arrogant attitude. The sharks also commented that Martin seemed to be sweating profusely throughout his pitch. Martin stated he was sweating since he became also hot below the Television lights in his turtleneck sweater.
"I began melting and beneath the stress of Kevin O'Leary trying to split my business into two, I seriously began to melt," Martin mentioned. "For me, all I was attempting to do was figure out how to get a taxi to get me out of right here. ... You see about ten minutes of the exchange but I was basically out there beneath those lights for 45 minutes in that pressure of the tank, in the stress of 5 various entrepreneurs who are incredibly, very intelligent all firing questions at you, often two or three at the same time."
In the finish, Martin brushed off the sharks’ assistance and left without having accepting any presents.
But soon immediately after his episode aired, Martin stated he received numerous provides from men and women wanting to invest in his organization and Copa Di Vino took off.
“Shark Tank” producers took notice of Copa Di Vino’s accomplishment and provided Martin a uncommon second chance to go “back in the tank.” He re-pitched the solution to the sharks the following year. By that time, Martin mentioned Copa Di Vino had gone from $600,000 to $5 million in sales in just a single year.
“I had a hate for Kevin O'Leary at a level that wasn't healthy at all and my chance to come back was also my opportunity to get the last word in and say, ‘Look, you blew it, but I am also gracious sufficient to give you a second likelihood,’” Martin told ABC News.
But once again, Shark Barbara Corcoran said she didn’t appreciate what she stated was Martin’s “coy” attitude. “We didn’t respect him either,” she said.
The standoff among the sharks and Martin went into its second round when neither side budged on the identical point they have been stuck on the 1st time about. And seemingly as an alternative of functioning with them to make a deal, Martin just kept taking sips of his wine.
“The second time he came on he stood out there, and he knew we all have been interested, and he was attempting to be also cool, as well wise … pondering like he’s the man,” said Shark Mark Cuban. “It was a lot of revenue. We had been negotiating. And he's like, ‘I'm going to take a sip.’”
"I feel in the second a single he forgot his place," added Shark Robert Herjavec. "He is not the shark. We're the sharks."
Even though Martin walked away, once more, without any of the sharks' investment, the chance to market his item on national tv twice had contributed to big payoffs.
To date, Copa Di Vino has sold 38 million cups of wine in locations ranging from neighborhood convenience retailers and supermarket chains to Marriott hotels and sports arenas and stadiums, and the firm claims to have created $12 million in sales in 2016. The brand has also expanded to involve Copa Di Vino variety packs, t-shirts, beach coolers and even an “outdoor patio bar.”
“I did not will need the sharks. They necessary me,” Martin stated. “They necessary a seriously, definitely prosperous brand that went everywhere and they didn't get it simply because they got greedy.”
The sharks, even so, really feel differently. All agree they have no regrets about passing on Copa Di Vino.
“Could you consider dealing with him on an ongoing basis?” Cuban mentioned.
“He would ruin our lives, our pleased lives,” Corcoran added.
Our editors found this article on this site using Google and regenerated it for our readers.
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