Whatever Happened To Do Amore After Shark Tank?

Krish Himmatramka appears on “Shark Tank” Season 13 with hopes of securing $600,000 for a 6% equity stake in Do Amore. Himmatramka informs the Sharks that he has put $18,000 into Do Amore and has no other investors. 

The previous year saw the company make $8.3 million in sales. Do Amore is at $5.2 million year-to-date and projects sales of $11.5 million by the end of 2021. They’ve also been cash flow positive, having made $460,000 in net profits. Lifetime sales are $26 million. While prices vary, an average order costs around $3,900. The lab-made ring Lori Greiner is wearing costs $10,000, although Barbara Corcoran’s costs $3,400, much to her dismay. Thankfully, the company has impressive margins at 41%, a rare feat for a jewelry business of their kind, according to Himmatramka. 

Mark Cuban is impressed by everything Himmatramka has accomplished but believes that competition is inevitable and goes out. Barbara Corcoran similarly praises him, but never had an engagement ring and also exits. Kevin O’Leary proposes one of his classic royalty deals, seeking $100 per unit until he makes back $1.8 million. The other Sharks think it’s a worthy offer considering O’Leary’s experience in the wedding space, even prompting Greiner to go out. However, guest Shark Daniel Lubetzky, who went out earlier, likes Himmatramka enough to reenter negotiations, offering $600,000 for 15% along with 3% of the equity going towards a charitable cause.  After a bit of back and forth, the deal is made.

ncG1vNJzZmhqZGy7psPSmqmorZ6Zwamx1qippZxemLyue9OrnKecmaO0cMPHmquerpWneqmtz6mcp52UYsGwecOoZJqln6eybq3FrZyrZaOdrrO3jK2Yp6Nf