Talbott Teas was founded in 2003 by Shane Talbott who had been Oprah Winfrey’s hair colorist for 10 years, alongside co-founder Dr. Steven Nakisher.
As the saying goes, the journey of a thousand miles begins with one step. Shane Talbott’s tea story began in a downtown saloon and spa where he worked as Oprah Winfrey’s hair colorist. At some point he decided to start selling his homemade tea blends to his customers at saloon and spa where he worked. This developed into him opening a tea bar with Steven Nakisher and they subsequently started Talbott Teas in 2003.
Oprah loved the product so much that she decided to promote Talbott Teas on her platform. The exposure gave the company a significant boost in visibility and they soon began receiving orders from large retail outlets such as Dillards and QVC but found themselves unable to receive adequate business funding.
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The Shark Tank Deal
The founders pressed on and decided to apply to the Shark Tank TV show. Luckily, they got a spot and were featured on the show where they expressed their business idea; naming it the “cup of couture”.
Their idea captured the eyes of the investors as their sales had moved from $100,000 to $500,000 in just 3 years with profit margins of 50%.
After Kevin O’Leary tasted his sample of chocolate almond allure tea, he was convinced of the company’s potential and he later helped the duo sign a deal with Jamba Juice. Shane Talbott was offered the opportunity of being the vice president of innovation at Jamba Juice, while Nakisher remained a board member.
Under this deal, Talbott Teas was to remain a stand-alone brand.
What Happened to Them After Shark Tank?
After presenting their business idea named the cup of couture at the shark tank business, Talbott and Nakisher caught investors Kevin O’Leary’s eyes who were convinced that they had a credible idea. The investor later helped them strike a deal with the Jamba Juice company, and the Talbott Teas were bought for an undisclosed amount of money.
As part of the deal, Talbott become the new vice president for innovation in the company, while Nakisher was offered a seat on the company’s board. The brand remained a stand-alone brand under the wing of the great Jamba Juice company. Talbott Teas continues to be redesigned, improved, and has expanded to additional stores and markets.
Where Did Talbott Teas End Up?
Talbott Teas ended up in the Jamba Juice company portfolio and continues to hold valuable products and trademarks.
The teas are said to be created with the finest quality ingredients, to bring only the very best taste to its consumer’s teas. They were also branded in new luxurious designer packages and sold in both caffeinated and caffeine-free versions.
The products are now available in 23 different flavors, including the award-winning “chocolate lover”.
The company also states that their products are 100% natural, with no additives or food coloring.
FAQs
1. What is the net worth of the Jamba Juice company?
Jamba Juice is worth approximately $200 million.
2. Where are Talbott Teas products sold?
Talbott Teas products are available online, at large retailers such as QVC, luxury hotels, restaurants, gourmet grocers, as well as numerous saloons and spas throughout the Chicago area.