Kendra Scott became Sienna Sauce’s investor after the company appeared on Episode 14 of Season 12 of Shark Tank.
Since the sharks’ taste test went so well, you might be wondering whether there’s any news about Sienna Sauce. What we do know about the sauce manufacturer is as follows.
Net Worth of Sienna Sauce
The company’s valuation dropped from $1,000,000 during the pitch to $500,000 following Kendra’s investment.
Sales have increased since then, and projections put yearly income at $625,000 by 2021.
Update on Siena Sauce as Seen on Shark Tank
Young businesswoman Tyla-Simone Crayton, also known as “Sienna Sauce,” appeared on Season 12 of Shark Tank to promote her product.
Their product is a “sauce that can put on anything,” and they sell it. Tyla stated that initially the sauce was intended as a wing sauce, but customers quickly realized it could be used on many other dishes.
As soon as the taste test was through, Tyla got down to business in the tank, announcing that Sienna Sauce could now be purchased from 68 different retailers and online. There were a total of $255,000 in sales for Sienna Sauce, with the previous twelve months accounting for $171,000.
Kendra Scott was intrigued by the successful taste test and high sales, so she offered Tyla $100,000 for a 20% ownership in Sienna Sauce. After discussing the offer with her mom, Tyla decided to go through with it.
Tyla will be assisting Kendra in expanding her internet marketing and creating new flavors for Sienna Sauce. In addition, Kendra should be able to help Sienna Sauce expand into more retail locations.
After Appearing on “Shark Tank,” What Became of Sienna Sauce?
Ultimately, Tyla and Kendra reached an agreement, and she left the pitch with a deal. The show’s first airdate was followed by numerous media interviews in which the company and Tyla were both highlighted.
Given that ABC Entertainment Corporation is also a shareholder, a potential merger is feasible. The business was swamped with sales inquiries, but it was able to field them effectively.
Amazon, Wegmans in New Jersey and New York, and 19 additional independent retailers in Texas, New York, and Ohio are still carrying the sauce. The corporation earns $650,000 annually as of the end of 2021.
Who Is the Founder of Sienna Sauce?
Tyla-Simone Crayton is credited with establishing the company. As a result of the closure of her favorite wing restaurant in 2017, eight-year-old Tyla was inspired to make the sauce herself.
She set out to recreate their sauce but wound up making something better. After she and her mom moved out of New York, they opened a wing stand in their Sienna, Texas, neighborhood on Friday nights. That was back in 2013, and in 2017, they finally got around to bottling and marketing the sauce.
She also had a perfect 4.0 grade point average. There are three distinct flavors to choose from: the traditional Tangy, a Lemon Pepper variation, and a Spicy version.
The sweet and sour sauces rely on the tangy sauce as their base. Tyla is confident that Sienna Sauce is not limited to use as a wing or BBQ sauce, and that it can enhance the flavor of virtually any dish.
Each bottle of the condiment costs $10. When purchased in quantities of three from the company’s website or Amazon, they cost $28.95.
Many Spec’s Wines, Spirits, and Finer Foods stores in the state of Texas stock Tyla items. The product is sold at a number of independent supermarkets in Texas, Missouri, and New York, in addition to Wegmans in the New York City area.
Sienna Sauce: Where Are They Now?
In 2019, over 25,000 bottles of Sienna Sauce were sold, resulting in $192,000 in revenue. Through several pitch competitions, the company secured about $45,000 by the end of 2020, and approximately $200,000 through crowdfunding investors.
In the same year of its inception, the company’s creator was recognized as one of Texas’s Top 50 Black Professionals and Entrepreneurs. Crayton has no plans to slow down, and her efforts are already yielding positive results.
Both H-E-B Grocery in Texas and Jungle Jim’s in Cincinnati, Ohio began carrying Sienne Sauce in February 2021. SiennaWings, two-time winner of Sauce-A-Holic sauce, is available for purchase on the official website and app, as well as in over 70 brick-and-mortar locations in the United States (including Texas, New York State, and New Jersey) and on eCommerce platforms like Amazon and Walmart.
Although it does not currently offer international delivery, the firm is working on a subscription service and a new line of hot sauce called Sienna Lit.
To Know More Latest Updates You Can Visit Our Website: Techstry.net