Also known as the Mexican turnip, Jicama is a nutrient-rich root plant that can serve as a delicious snack. Xin and Melissa Colella-Wang, fell in love with the tasty veggie and started a food company based on it. They pitched their product on Shark Tank and got a deal with Barbara Corcoran. Jica Foods is now worth an estimated $5 million.
The Founders
Xin and his partner, Melissa Colella-Wang, are based in Rowland Heights, California. He studied illustration at the Fashion Institute of Technology and has a master’s degree in package design from Pratt Institute.
Melissa has a bachelor’s degree in biology from Wellesley College and was a part of the swimming team. As a couple, the two loved snacking but wanted to create a healthier snack so they would feel less guilty. The pair also started running marathons to keep in shape.
Founding Jica Foods
In 2015, the couple went on a vacation to Mexico. There, they got their first taste of the jicama vegetable and were instantly hooked. They later found out about its health benefits and got what they wished for.
When the two got home, they immediately thought of sharing the flavor of jicama with the world through starting a business. They sold three jicama-based food items: JicaSticks, JicaWraps, and Jica de Gallo.
After getting funding from AccelFoods, Jica Foods officially launched in 2015. The founders attended local trade shows to drive sales in the early years.
Getting on Shark Tank
Xin and Melissa have put a lot of effort into educating the public about the perks of eating jicama. This got them some distribution deals and Jica Foods is now available in over 1,600 stores in the U.S. In 2019, Jica Foods made $1 million and generated $6 million in sales for 2022.
The business is looking to expand their presence into new locations and sell direct to consumers. For these reasons, the founders needed to raise capital and wanted to bring on a Shark.
After Shark Tank
Jica Foods’ progress has been steady since it launched, but as expected, appearing on national television led to a big upswing in sales. In addition, the number of Google searches for jicama vegetables jumped 48 hours after the episode aired.
No recent sales figures have been revealed, but Jica Foods should have surpassed $6 million in annual sales for 2023. The product range has expanded to include Jica sticks, salsa and merch. Profit margins were around 6.6% in 2022 but this should have improved in recent times.
The healthy snacks can be purchased in selected locations at Walmart, Whole Foods, Wegmans, and Sprouts. They have a website, JicaFoods.com, but you can’t order directly from there but it shows some recipes and their store locations.
The company already has 9,200 followers on Instagram, and its products mostly have positive reviews. Jica Foods is currently valued at $5 million, which may change due to the Shark Tank effect. The business now has 7 full-time employees.
