Not everyone drinks to get drunk. Some do it purely to socialize or enjoy tasty beverages. If you are one of these people, Ghia’s non-alcoholic drinks might be for you. They are praised for capturing the spirit of alcoholic drinks without alcohol. Ghia’s founder, Melanie Masarin appeared on season 14 of Shark Tank but didn’t get a deal. As of 2022, Ghia is valued at $35 million.
About the Founder
Melanie Masarin grew up in Lyon, France but relocated to Rhode Island, to study economics at Brown University. She eventually settled in Los Angeles, California, where she launched Ghia.
The French beauty worked as a financial analyst at Goldman Sachs and moved to American Eagle Outfitters to become a corporate strategy associate. Melanie’s CV also includes senior roles at the DIG restaurant chain and Glossier.
Founding the Company
When she was a kid, Melanie’s family enjoyed the Mediterranean aperitivo culture during the summer. They gathered, cooked, and ate with friends until dawn. Of course, alcoholic drinks were present. Melanie wanted to recreate the same atmosphere without involving alcohol.
She started Ghia in November 2019 and raised a seed round of $480,000 from two investors. The company gained a lot of traction with the rise of the sober-curious movement, where people question how alcohol affects them.
Furthermore, her brand was recognized as the first non-alcoholic drink to receive the Esquire Drink of the Year award in 2020. A year later, Ghia’s year-over-year wholesale revenue grew from $10,000 to an impressive $180,000.
Shark Tank Appearance
Melanie made a very confident and elegant pitch. She handed out samples to the Sharks and they liked the taste of the product. Ghia had strong sales to backup its valuation. In 2021 the company made $2.5 million in sales but lost under a $1 million which had the Sharks groaning.
To make matters worse she raised $3.5 million in funding and is in the process of raising $6 million at a $41 million valuation. Melanie owned a 57% stake and was giving away her equity at a discount to bring on a Shark. Sharks dislike it when companies are constantly raising money as most likely their equity will get diluted in the future.
Robert made an offer, giving her exactly what she wanted but he withdrew his offer as Melanie wanted to hear Kevin’s proposal. Kevin made a greedy offer of $250,000 for 10% but she couldn’t accept it as the equity was too high.
After Shark Tank
Although their episode just aired, appearing on national television will give a brand a massive boost. Ghia drinks can be purchased on DrinkGhia.com and at selected restaurants, bars, and hotels in the US. The beverage company is forecasted to make $4.5 million in 2022 and that will double in 2023.
The drink is available in over 52 countries through their partnership with Mayple! The company’s best-selling drink, the Apéritif, benefits a lot from the Dry January trend. Ghia’s orders increased by 40% in the last Dry January.
Ghia has an average rating of 4.2 stars from 189 reviews on ThingTesting.com. The company has some celebrity customers including Antoni Porowski and Priyanka Chopra who love these alcohol-free drinks.
Currently, Ghia is valued at $35 million based on the last round of funding. If Ghia can manage to reach $20 million in annual sales, it’s likely they will be acquired by a large drinks company.