Here's What Went Down With Do Amore Jewelry After Shark Tank
In 2013, the ethical jewelry brand Do Amore made its "Shark Tank" premiere. Founder Krish Himmatramka shared with the sharks his story that led to him creating a sustainable engagement ring company. Before founding Do Amore, Himmatramka was working as an engineer on an oil rig in Louisiana. While drilling for oil, he was struck by how little drilling was required to reach clean water, something people all over the world desperately needed. Simultaneously, Himmatramka was shopping for engagement rings and noticed that jewelers weren't able to give him a straight answer about the origin of the diamond. So Himmatramka decided to do something about ethically sourced diamonds while working on the world's water crisis at the same time. So how does it work? A couple designs their ring on the Do Amore website. The ring is then made in the United States, and the couple obtains the GPS coordinates of the specific well that their ring helped to build. To reduce the problem of unethically sourced diamonds, Himmatramka decided to also offer lab-created diamonds and gemstones. This is how Do Amore came into existence.
Do Amore isn't the first jewelry brand we've seen on "Shark Tank." Stella Valle Jewelry was another brand that pitched their business to the sharks; unfortunately, Stella Valle didn't make it, but Do Amore defied the odds and went on to thrive. Here's the story of this jewelry brand's "Shark Tank" experience.
What happened to Do Amore on Shark Tank?
Krish Himmatramka pitched his ethical, sustainable jewelry brand Do Amore on "Shark Tank," asking for $600,000 in exchange for 6% of his company. His episode featured guest star Daniel Lubetzky, billionaire and CEO of Kind snack bars. Himmatramka explained that his rings used recycled precious metals and ethically sourced stones. On top of that, every Do Amore ring gives someone in a developing country access to clean drinking water. Initially, the sharks weren't impressed that Himmatramka was spending so much on charity. He then shared that his family moved to India when he was younger and he saw a young boy die after drinking bad water. The crisis stayed with Himmatramka throughout his life, and his brand was a way to provide a solution.
Despite this appealing prospect, the sharks pulled out. Lubetzky was the first to pull out, saying it wasn't his world. Mark Cuban pulled out because he said that anyone could create an impact-focused business. Barbara Corcoran pulled out too. Kevin O'Leary offered $600,000 for 6%, but he wanted a $100 royalty per transaction until he made back $1.8 million. Lori Greiner pulled out, saying Mr. Wonderful was making a better offer than she could since he was in the wedding industry. Himmatramka counter offered $600,000 for 10%. Mr. Wonderful refused. Lubetzky jumped back in and said he'd do it for 15%. When Himmatramka countered with 12%, Lubetzky said he'd donate the 3% to the cause. With that, they made a deal.
What happened to Do Amore after Shark Tank?
During their episode of "Shark Tank," Do Amore's Krish Himmatramka and billionaire Daniel Lubetzky made a deal of $600,000 for 15% of the company. In typical reality TV fashion, attention around Do Amore skyrocketed. In fact, their website got so much traction following the airing of the episode that it crashed. However, things were up and running again quickly after that.
As for the deal with Lubetzky, it doesn't appear as if it actually went through, which does sometimes happen on "Shark Tank." Deals made on air fall through once it comes to the actual contracts and paperwork. On the Do Amore website, there is no mention of the brand's exposure on "Shark Tank" or of Lubetzky's deal, which is rare in cases where a contract actually does go through. According to a Shark Tank blog, it's assumed that Lubetzky's deal didn't get finalized. Despite this setback, the jewelry company has continued to thrive.
Do Amore is very much in business
Do Amore continued to thrive after its exposure on "Shark Tank," even without Daniel Lubetzky's deal. In 2021, the jewelry company reached $11 million in sales and reached $12 million in sales the following year. You've got to wonder if the sharks regret this opportunity! Do Amore continued to blow up all over the place. Houstonia wrote a piece on Do Amore in 2017, praising the brand for "shaking" up the engagement ring industry. Then Fast Company also wrote a piece on Do Amore in 2017, encouraging engagement ring shoppers to check out this ethical brand.
In 2019, Forbes wrote about Krish Himmatramka and the changes he was making in the world of jewelry. Himmatramka explained to Forbes that it only took a small amount of savings to have the business blossom. "I never expected that the $18,000 I put into Do Amore at the start would be the only money I'd ever have to put in," he explained. "This wouldn't be possible if it weren't for our customers who believe in the social mission and want to propose with a ring that makes a positive impact in the world."
Part of Himmatramka's ongoing success is rooted in how much he's helping the clean water crisis in the world. Customers see this too, and want to be a part of the solution. In 2023, Do Amore's website said that over 14,000 people had been given clean water, and 59 wells had been built by Do Amore.
What's next for Do Amore?
Do Amore continues to grow. Not only are they supplying wells and water to developing nations, but they continue to expand on their inventory. Yes, there's a huge array of engagement rings for buyers to choose from. They also sell men's and women's wedding bands, all made from recycled precious metal. The brand has also expanded to include jewelry that's not related to engagements, which is good for business since it widens the customer base. People can buy necklaces from Do Amore, including one called the Sage necklace that's specifically for graduations. They also sell all-occasion rings, so you can get yourself a Do Amore ring anytime.
The brand stays very active on social media, boasting over 30,000 followers. On LinkedIn, Krish Himmatramka has been listed as the founder of Do Amore since 2014, and he's had no other career since, so by all accounts, things are still going strong. Good for him! Way to bring ingenuity and creativity to the diamond world, as well as water to those who need it.