Talbott Tea was introduced as a ‘designer whole-leaf tea’ that represents a “cup of culture”. Owners claim that they have designer whole tea leaves and accessories that are steeped in style, they are chic, elegant, and glamorous.
They used indulgent ingredients to create an indulgent experience. Talbott Tea comes in 23 varieties and designer tea blends that have strong taste and aroma, beauty, and flavors that are pure indulgent. Talbott won’s 2 awards for its “Chocolate Almond Allure Tea” in AIDS Foundation of Chicago’s annual World of Chocolate Event in December 2011.
Talbott Tea at a glance
| Episode No | Season-3, Episode- 5 |
| Business Idea | Luxury Designer-Tea-Brand |
| Founder | Shane Talbott and Steven Nakisher |
| Asked For | $250,000 for 20% of equity |
| Accepted Deal | $250,000 for 35% of equity |
| Sharks | Kevin O’ Leary |
| Business Status | in Business/ Acquired |
| Website | Talbott Tea |
Index:
Founder Story:
Talbott Tea was invented and founded by Shane Talbott and Steven Nakisher in 2003. Shane Talbott was serving the salon and spa industry for 20 years as Oprah Winfrey’s personal hair colorist for over 10 years.
They started her business with Dr. Steven Nakisher a psychologist and entrepreneur and operating as a business partner. Both of them invested nearly $300,000 of their own money to develop it. In 2010 it becomes Oprah’s favorite thing. Oprah’s opportunity gives him very much force into their sales.
Did Talbott Tea get a deal on Shark-Tank?
Talbott Tea is introduced as a Designer Tea Brand into the show by Shane Talbott and Steven Nakisher. They represent it as designed whole leaf tea as a “cup of culture” they are chic, elegant, and glamorous.
They use indulgent ingredients for an indulgent experience having more than 23 designer tea blends with a strong aroma, taste, and beauty. They presented some of their popular designs to sharks to feel the aroma and taste.
- Firstly, they presents “Green Tea Heaven” to Robert.
- For Glorie they presented “Blissful Blueberry”.
- For Kevin they presented “Chocolate Almond Allure”.
- For Demon they presented “Coco Cardamom Seduction“.
In 2010 they become Oprah’s favorite things, Oprah’s opportunity gives him much force in sales and tie-ups with all these department stores and the government’s grocery stores. They have retailers and distributors that distribute their products that lead to their first QVC’s appearance. After QVC’s interview, they introduced 5 new items. They have given their sales figure as follows:
- In 2009 they have $100,000 of sales.
- In 2010 they have $350,000 of sales.
- Before Shark-Tank they have approx. $500,000 in sales (including pending purchase order’s).
- The 1st purchase order is of $20,000.
- The 2nd one is of $200,000 (10 times of their 1st order).
- They have a profit margin of approx. 50% of their sales.
Each can contains 30 servings which range between $10 to $15 cost approx. $5 excluding distributor and retailers expenses.
As the market area is not related to sharks and the valuation of the company is also very high therefore all sharks backed them excluding Kevin O’ Leary who offers him $250,000 but for 40 % of equity. Owners offer him a counter-offer of the same at 30% of equity, again Kevin offered’s him For 35% and they agreed upon them and got a deal from Kevin O’ Leary.
What happened to Talbott Tea after Shark-Tank?
After shark-Tank Talbott Tea receives a huge demand for their products as they tie-ups with Amazon and various other E-commerce websites to sell their products along with their online site and retail and distribution business too. After a few days, they announce that they are able to get Talbott Tea into the Jamba Juice in an undisclosed amount in few days after the show.
Competitors of Talbott Tea:
The competitors of Talbott Tea are the Republic of Tea and Lipton.
- Lipton:- Lipton was found and developed in late 1871, in Englewood. Lipton is a manufacturer and exporter of various ready-to-drink beverages. Its headquarters was situated in Englewood Cliffs in New Jersey USA.
- Republic of Tea :- Republic of Tea are another tuff competitor of Talbott Tea as it represents them as an organic and exotic tea product makers. It was found in 1992 and its headquarters is situated in Larkspur, California USA.
The following table shows the difference in revenue and employees of companies.
| Company | Employees | Revenue |
| Talbott Tea. | 20-25 | $5 million to $25 Million |
| Lipton. | 290-300 | $10 to $50Million |
| Republic of Tea. | 25-100 | $5 million to $25 Million |
Net Worth of Talbott Tea:
At the time of the shark tank appearance, Talbott Tea was valued at around $715,000. After the show and raising funding in a few months after it is acquired by Jamba Juice in an undisclosed amount with approval of the owners and investors of the company. The net worth of the company is not be known as it’s now a part of another company. Roughly it is expected that the worth of the company today is over $25 Million.
Is Talbott Tea is Still in Business?
The company is in operation under the name of Jamba Juice however Jamba Juice can’t remove its name when sells it. Currently, it has 23 designs and flavors that are running into the market.
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What is Talbott Tea?
Talbott Tea is a Luxury Designer-Tea-Brand.
Who founded Talbott Tea?
Talbott Tea was invented and founded by Shane Talbott and Steven Nakisher in 2003. Shane Talbott was serving the salon and spa industry for 20 years as Oprah Winfrey’s personal hair colorist for over 10 years.