Whatever Happened To Do Amore After Shark Tank?

Popping the question can result in one of the most life-changing days of your life, but now it has the potential of being a similarly transformative event for someone in need. Claiming to be the world's first ethical jeweler company, Do Amore is looking to change how people propose forever. The business not only creates a lush line of sustainably sourced engagement rings made from recycled metals and stones but also provides water wells for developing countries with each ring sold. 

Founder Krish Himmatramka began Do Amore in 2014 with a searing image in his mind. As a child, he and his family moved to India, and at one point, he witnessed a child dying in his mother's arms, succumbing to continuous exposure to poor-quality drinking water. Himmatramka would work as an engineer for companies such as BP and Procter & Gamble later in life. While helping drill oil wells, he realized how easy it was to come across water and felt it was unjust that such resources were being wasted while other communities suffered. This, combined with similar ethical questions about the engagement rings he was shopping for at the time, sparked the idea that would grow into Do Amore, which translates to "I give with love" in Latin. 

Do Amore started seeing exceptional growth and its founder felt the time was right to dive into "Shark Tank," his first time pitching to any investors. It took four tries for the entrepreneur to get a spot on the show, but he knew telling his story would be worth it in the end. 

Krish Himmatramka appears on "Shark Tank" Season 13 with hopes of securing $600,000 for a 6% equity stake in Do Amore. Himmatramka informs the Sharks that he has put $18,000 into Do Amore and has no other investors. 

The previous year saw the company make $8.3 million in sales. Do Amore is at $5.2 million year-to-date and projects sales of $11.5 million by the end of 2021. They've also been cash flow positive, having made $460,000 in net profits. Lifetime sales are $26 million. While prices vary, an average order costs around $3,900. The lab-made ring Lori Greiner is wearing costs $10,000, although Barbara Corcoran's costs $3,400, much to her dismay. Thankfully, the company has impressive margins at 41%, a rare feat for a jewelry business of their kind, according to Himmatramka. 

Mark Cuban is impressed by everything Himmatramka has accomplished but believes that competition is inevitable and goes out. Barbara Corcoran similarly praises him, but never had an engagement ring and also exits. Kevin O'Leary proposes one of his classic royalty deals, seeking $100 per unit until he makes back $1.8 million. The other Sharks think it's a worthy offer considering O'Leary's experience in the wedding space, even prompting Greiner to go out. However, guest Shark Daniel Lubetzky, who went out earlier, likes Himmatramka enough to reenter negotiations, offering $600,000 for 15% along with 3% of the equity going towards a charitable cause.  After a bit of back and forth, the deal is made.

Do Amore had its time to shine on "Shark Tank" when its episode aired on March 18, 2022. The same night as its broadcast, investor Daniel Lubetzky shared a tweet in support of what Do Amore had accomplished, saying, "I really believe in Krish and the mission @doamore is setting out to achieve. To celebrate, we are proudly donating $10,000 to Krish's cause @charitywater. Learn more about how you can create a ripple effect with @doamore #SharkTank." 

Likewise, Krish Himmatramka highly admired working with Lubetzky, saying in a Reddit AMA, "Having the opportunity to work with Daniel has been a real blessing. Even though this isn't his 'industry' he has a lot of insight on branding and deep understanding of how a consumer thinks. It's been helpful without a doubt."

Even with thoughtful prep, the company experienced the "Shark Tank" effect in some unexpected ways. While the team saw a boost in sales, they didn't experience the onslaught of orders that other "Shark Tank" businesses have had in the past, given that engagement rings aren't normally seen as impulse buys. Nevertheless, traffic on Do Amore's website was at an all-time high. Even though they upgraded to the most premium Google Cloud server at the time, the site crashed within three minutes and wouldn't come back on until seven minutes after the West Coast airing. 

Do Amore is still up and running. The company's website contains a wide selection of engagement rings ranging in price from $480 to nearly $3,000. Do Amore also provides a service that gives visitors the option to customize their own ring. Along with engagement rings, Do Amore carries an array of wedding bands, stones, necklaces, earrings, and more. 

Furthermore, the website contains resources that dive deeper into Do Amore's ethics as a company. Many of its diamonds and gemstones are currently sourced from Canada, as the country harbors strict labor regulations for mine workers, alongside similarly responsible sources in Botswana, Namibia, and South Africa before being cut in India. Following Russia's invasion of Ukraine in 2022, Do Amore has stopped obtaining stones and diamonds from Russia. They also offer recycled pieces that have been approved for reuse as well as laboratory-grown diamonds. Following a purchase, customers receive updates and even GPS coordinates informing them of the community they've helped.

The company remains active on Instagram, Twitter, and Facebook. Do Amore is estimated to bring in $5 million a year in annual revenue with a $5 million net worth.

There doesn't seem to be any stopping Do Amore and its wholehearted mission as a company. In a world where having a larger purpose is becoming increasingly crucial for various ventures, Krish Himmatramka's brand may be more important now than ever before. 

And the entrepreneur is thankful to "Shark Tank" for giving his story a larger platform than he could have imagined. In an email sent to Do Amore's followers in June, Himmatramka expressed his gratitude, writing, "We came on the show hoping to get a deal to expand our collections, and because of it were able to add our new line of handcrafted jewelry, at very competitive prices!" 

More than allowing the operation to scale, however, the company's founder has been overjoyed by what these newfound resources have meant for Do Amore's mission. "This opportunity has helped bring awareness to our brand, allowing Do Amore to continue bringing aid to the world in the most ethical way possible," he continued. "This was an unforgettable once-in-a-lifetime experience, and from the bottom of my heart, I thank you for your support." Not much is out there on Do Amore's specific future plans, but it's crystal clear that the company's efforts to bring an ethical touch to the jewelry industry will continue moving the team forward and hopefully have a ripple effect on similar players within the trade.