The world of diamonds is sometimes less than ethical, but Krish Himmatramka is on a mission to change that. His company, Do Amore, sells ethically sourced engagement rings and uses each purchase to help build wells and provide clean water to needy communities.
Does Amore’s commitment to social impact have captured the attention of customers and potential investors, as evidenced by its appearance on Shark Tank? This comprehensive blog post will delve into Do Amore’s net worth, its journey on Shark Tank, and the company’s impressive growth and impact.
Who is Do Amore?
Do Amore is a jewelry company that creates ethically sourced engagement rings and other jewelry. Founded in 2014 by Krish Himmatramka, the company aims to provide sustainable and socially conscious alternatives to traditional diamond engagement rings. Each Do Amore purchase helps fund the construction of wells to provide clean drinking water to communities in need worldwide.
Who Is The Founder Of Do Amore?
Krish Himmatramka is the founder and driving force behind Do Amore. As a child, Himmatramka witnessed firsthand the devastating impact of poor water quality in developing countries, which inspired him to create a business that could make a tangible difference. After working as an engineer for companies like BP and Procter & Gamble, Himmatramka realized the potential to combine his passion for ethical business practices with the engagement ring industry.
| Company Name | Do Amore |
|---|---|
| Founder | Krish Himmatramka |
| Business | Ethically sourced engagement rings |
| Mission | Provides clean water wells for communities in need |
| Sales (2022) | Over $12 million |
| Clean Water Impact | 60 wells, 16,520 individuals benefited |
| Additional Products | Earrings, necklaces, milestone jewelry |
| Sustainability | It uses recycled metals and sustainable materials |
| Social Media | Instagram (close to 35,000 followers) |
| Website | Do Amore |
How Was The Shark Tank Pitch Do Amore?
Krish Himmatramka appeared on Shark Tank Season 13, seeking $600,000 in exchange for a 6% equity stake in Do Amore. During his pitch, Himmatramka shared the company’s impressive financials, including $8.3 million in sales the previous year and $5.2 million in year-to-date sales, with a projected annual revenue of $11.5 million.
Despite the sharks’ initial skepticism, Himmatramka’s mission and the company’s strong performance eventually convinced guest shark Daniel Lubetzky to offer $600,000 for a 15% equity stake, which Himmatramka accepted after some negotiation.
| Shark | Deal Offered | Result |
|---|---|---|
| Daniel Lubetzky | $600,000 for 15% equity | Accepted |
| Kevin O’Leary | $600,000 for 6% equity and $100 per transaction until $1.8 million recouped | Offered but not accepted |
| Mark Cuban | No Offer | N/A |
| Lori Greiner | No Offer | N/A |
| Barbara Corcoran | No Offer | N/A |
Do Amore Shark Tank Update:
After securing the deal with Daniel Lubetzky on Shark Tank, Do Amore has continued to thrive. The company has expanded its product offerings beyond engagement rings, now offering earrings, necklaces, and milestone jewelry, all of which contribute to the mission of providing clean water to communities in need. As of December 2023, Do Amore has built 60 wells and provided clean water to over 16,500 individuals worldwide.
What Happened To Do Amore After Shark Tank?
The “Shark Tank effect” was both a blessing and a challenge for Do Amore. While the company experienced a significant boost in website traffic and sales after the episode aired, the surge in demand temporarily crashed the website. Nevertheless, Do Amore has continued to grow, with an estimated annual revenue of $12 million in 2022 and a solid social media presence, particularly on Instagram, with over 35,000 followers.
Do Amore Net Worth:
According to our research, Do Amore’s estimated net worth is around $5 million as of 2023. This valuation considers the company’s steady growth, strong financial performance, and the impact of the Shark Tank deal with Daniel Lubetzky, who now holds a 15% stake in the business.
| Financial Metrics | Details |
|---|---|
| Startup Investment | $18,000 |
| Annual Revenue | Estimated $5 million/year |
| Net Worth | $5 million |
| Profitability | Cash flow positive, $460,000 net profit |
| Average Order | $3,900 |
| Margins | 41% |
Do Amore Growth and Operations:
Since its inception in 2014, Do Amore has experienced remarkable growth. The company started with just $18,000 in initial funding from Krish Himmatramka and has not had to raise additional capital. Do Amore’s impressive margins of 41% and strong sales have allowed the business to scale organically, expanding its product offerings and global reach.
The company’s commitment to ethical and sustainable practices, including using recycled metals and lab-grown diamonds, has resonated with customers and contributed to its success.
Do Amore Marketing and Sales:
Do Amore’s marketing and sales strategies have proven effective in driving growth and increasing brand awareness. The company’s strong online presence, with a well-designed website and active social media channels, has allowed it to reach a wider audience. Do Amore’s focus on storytelling, highlighting its social impact and ethical practices, has also been a crucial part of its marketing approach, resonating with customers who seek more than just a beautiful piece of jewelry.
Do Amore Social Media Presence:
Do Amore’s social media presence, particularly on Instagram, has been a valuable asset for the company. With close to 35,000 followers, the brand leverages the platform to showcase its products, share its mission, and engage with its growing community of customers and supporters. The company’s visually appealing content and authentic messaging have helped to build a solid emotional connection with its audience, further bolstering its brand recognition and reputation.
Do Amore Interesting Facts:
- Do Amore is the world’s first ethical jeweler company, offering sustainably sourced diamonds and recycled metals.
- Each Do Amore purchase helps fund the construction of wells to provide clean drinking water to communities in need.
- The company has provided clean water to more than 16,500 individuals worldwide since December 2023.
- Do Amore’s founder, Krish Himmatramka, was inspired to start the company after witnessing a child’s death due to poor water quality in India.
- The company’s name, “Do Amore,” translates to “I give with love” in Latin, reflecting its core mission.
What’s Next For Do Amore?
As Do Amore continues to grow and expand its impact, the future looks bright for the company. With the support of Daniel Lubetzky and the increased awareness from its Shark Tank appearance, Do Amore is poised to scale its operations further, introduce new product lines, and continue its mission of providing ethical jewelry and clean water to communities worldwide. The company’s commitment to social responsibility and its ability to resonate with conscious consumers suggest that Do Amore will remain a driving force in the jewelry industry for years.
Final Words:
Do Amore’s journey is a testament to the power of combining a successful business model with a meaningful social impact. By offering ethically sourced engagement rings and channeling a portion of each sale towards providing clean water, Krish Himmatramka and his team have created a truly unique and impactful company. With a solid net worth, impressive growth, and a loyal customer base, Do Amore is poised to continue making a lasting difference in the lives of individuals and communities worldwide.
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