Sweetkiwi, an award-winning natural frozen yogurt brand, has captured the attention of many dessert lovers, as well as potential investors. With a unique spin on the popular treat, founders Michael Akindele and Ehime Eigbe aimed to create a healthier alternative to traditional frozen yogurt, incorporating wholesome ingredients such as protein, probiotics, fiber, and immune-boosting superfoods. Their innovative concept eventually landed them a spot on the hit TV show Shark Tank.
During their appearance on Shark Tank, the Sweetkiwi team dazzled the panel of investors with their delicious and nutritious product offering. With over 15 different flavors to choose from, it’s clear that the brand has put effort into catering to a wide array of tastes while maintaining their commitment to health and wellness. As a result, the company has gained a loyal following among consumers searching for a satisfying, guilt-free indulgence.
Since the Shark Tank episode, Sweetkiwi has continued to gain momentum in the frozen yogurt market, as fans eagerly track the brand’s progress. With increasing interest and potential for growth, Sweetkiwi’s story is a testament to the power of innovative thinking, hard work, and a passion for providing consumers with a healthy, scrumptious treat.
Sweetkiwi’s Shark Tank Journey
Pitch and Offer
Sweetkiwi’s founders, Michael Akindele and Ehime Eigbe, made their appearance on Shark Tank Season 14 Episode 16. With determination and passion, they presented their natural frozen yogurt brand to the sharks: Robert Herjavec, Daymond John, Lori Greiner, Kevin O’Leary, and Mark Cuban. The founders initially asked for an investment of $250,000 for a 5% equity stake in their company, valuing it at an impressive $5 million.
The sharks showcased a keen interest in Sweetkiwi’s healthy frozen yogurt, and a few of them weighed in with counteroffers. Tensions rose as negotiations ensued, and finally, a decision was made.
Decision and Investors
After careful consideration, the husband-wife duo behind Sweetkiwi struck a deal with Robert Herjavec. The final agreement reached was an investment of $250,000 for a 16% equity stake in the company. This deal aligned better with the founders’ expectations, allowing them to further expand their brand and bring their natural frozen yogurt to a wider audience.
With Robert Herjavec as their investor and supporter, Sweetkiwi continued to flourish after their Shark Tank appearance. The company expanded to be available in over 1,700 stores and solidified its presence in the health-conscious dessert market.
Key People Behind Sweetkiwi
Founder
Ehime Eigbe is the driving force behind Sweetkiwi, a frozen yogurt brand that has made waves in the health-conscious dessert industry. Ehime, alongside her husband, Michael Akindele, developed Sweetkiwi as an innovative flavored yogurt product filled with nutrients, vitamins, and proteins. Their dedication and passion for creating a healthier yogurt option led them to pitch their unique product on Shark Tank’s Season 14, Episode 16.
Michael Akindele, Ehime’s husband and co-founder, has played a crucial role in the growth and expansion of Sweetkiwi. His support, business acumen, and product development skills have been key to the company’s success. Together, they have navigated the challenges and achievements of their entrepreneurial journey.
Advisors
Throughout their Shark Tank experience and beyond, Ehime and Michael have had the opportunity to connect with and learn from expert advisors. These individuals, often industry veterans and successful entrepreneurs themselves, have provided valuable guidance, mentorship, and support as Sweetkiwi evolved and grew. Some key advisors they have worked with include:
-
Shark Tank Judges: After appearing in Season 14 of Shark Tank, Ehime and Michael were able to secure deals with two of the show’s judges. Their expertise and experience have proven to be invaluable resources for Sweetkiwi’s business growth.
-
Industry Professionals: As Sweetkiwi continued to develop and expand, industry-specific advisors played a crucial role in refining the product and improving their market strategy. These professionals offered insights on everything from ingredient sourcing to marketing strategies.
-
Mentors: Throughout their Sweetkiwi journey, Ehime and Michael have also had the guidance of various mentors, many of whom have been successful entrepreneurs themselves. These mentors have shared their experiences, offered support, and provided valuable insights on navigating the challenges of running a business.
The collaboration between Ehime Eigbe, Michael Akindele, and their team of trusted advisors has propelled Sweetkiwi to new heights. Their combined efforts have established Sweetkiwi as an innovative, healthy, and delectable frozen yogurt option available to consumers today.
Product Line Up
Ingredients and Health Benefits
Sweetkiwi’s frozen yogurt is a game changer in the world of frozen desserts. Made with real milk, it’s loaded with essential nutrients like protein, probiotics, and fiber, making it a healthier alternative to traditional ice cream. The brand is focused on incorporating immune-boosting superfoods into their recipes, ensuring that their frozen yogurt not only tastes delicious but also provides health benefits. Greek yogurt is often used as a base for some flavors, adding an extra layer of richness and nutrients to the mix.
Variety of Flavours
Sweetkiwi offers a diverse range of flavors to satisfy all taste buds. Some of their popular choices include:
- Vanilla Bean: A classic flavor made with real vanilla beans, providing a smooth and creamy taste.
- Raspberry Frose: A fruity delight that captures the essence of fresh raspberries blended with a hint of rosé wine.
- Chocolate Hazelnut: A rich and indulgent option that combines the bold taste of chocolate with the nutty notes of hazelnut.
- Cookies & Cream: A childhood favorite recreated as a tasty and healthier frozen yogurt option.
- Mango Mojito: A tropical blend of ripe mango and refreshing mint, perfect for warm summer days.
Special Editions
Sweetkiwi is always looking for new ways to entice their customers and keep them excited about their product line. They often introduce special edition flavors inspired by seasonal ingredients or popular trends. Some of these limited-time offerings have included:
- Raspberry: A tangy and sweet flavor made from real raspberries, perfect for berry lovers.
- Mango Mojito: A special, seasonal edition elevating the brand’s regular mango flavor with a refreshing twist of mint.
- Sugar-Free Vanilla: Catering to health-conscious customers, this sugar-free version of their popular vanilla flavor maintains the same rich taste without the added calories.
Sweetkiwi’s commitment to offering a wide range of flavors, paired with the use of healthy ingredients and attention to nutritional benefits, makes their frozen yogurt a delicious and guilt-free treat for everyone to enjoy.
Business Growth
Retail Expansion
Sweetkiwi, founded by Ehime Eigbe and her husband Michael Akindele, has experienced significant retail expansion since their appearance on Shark Tank. After securing a $250,000 investment deal with Robert Herjavec, the company has made its way into well-known retail stores such as Whole Foods, Kroger, and Walmart. The frozen yogurt brand is now available in over 1,700 stores across the United States.
Originating from Nigeria, Sweetkiwi has made a meaningful impact in the global market. They have successfully expanded the business beyond the African continent, finding a strong foothold in the USA, and branching out into new markets. The duo’s educational background from London Metropolitan University has played a key role in this international success.
Sales Performance
Since the Shark Tank episode, Sweetkiwi has seen a significant increase in sales and revenue. Their frozen yogurt, known for its health benefits and extended shelf life, has been well received by customers through the company’s website, Instagram, and Facebook channels.
Here is a brief look at their impressive sales metrics:
- Prior to Shark Tank: $650,000 in sales
- Projected sales for 2023: $1.2-$1.4 million in sales
This boost in revenue has largely been attributed to the increased visibility of Sweetkiwi products in retail stores and the support of their growing online community. The company’s strong sales performance can be seen as a testament to the quality and appeal of their healthy frozen yogurt offerings.
To further support the brand’s retail expansion, Sweetkiwi has partnered with Union Kitchen, a food accelerator program based in Dallas, which has helped connect the company with valuable resources and industry expertise to accelerate their growth in the frozen yogurt market.
Market Relevance and Future Plans
Marketing Strategy
Sweetkiwi has tapped into the global frozen yogurt market by focusing on natural, healthy alternatives to traditional sugary treats. Their innovative approach lies in creating delicious yet nutritious frozen yogurt with a primary focus on wellness, targeting a niche of health-conscious customers. Founder Ehime Eigbe started the business after being diagnosed with uterine fibroids and adopting a healthier lifestyle, which led to the creation of a product that reflects the importance of organic and natural ingredients.
To enhance market presence and attract more customers, Sweetkiwi has been actively leveraging partnerships and collaborations. By utilizing effective marketing strategies and spreading awareness about their offerings, they aim to expand into new territories, ultimately contributing to the growth of the Nigerian dairy industry and beyond.
Market Value
Sweetkiwi’s entrance into the Shark Tank led to a significant boost in their market value. After securing a deal with Robert Herjavec, the company received a $2.4 million valuation. As of 2023, the company’s net worth is estimated at around $4 million. This remarkable growth can be attributed not only to their innovative products but also to their strategic pricing and continuous efforts to maintain profitability in a competitive market.
The potential for growth in the natural frozen yogurt market is immense, as consumers become increasingly health-conscious and seek out better alternatives to traditional desserts. Sweetkiwi’s focus on maintaining a balance between taste and health could be a game-changer in the industry, helping them establish a strong foothold and secure a significant share of the market.
