Lord von Schmitt Shark Tank Net Worth 2023
The company valuation was $1 million during and after the pitch. Since the company is still operating and growing, its net worth is likely to have increased since then.
Lord Von Schmitt’s Net Worth as of 2022 stands at 1 Million USD, indicating his success in investing in the right companies and managing them well.
It also shows that his business strategy has paid off over the years and he has reaped the rewards of the successful venture that he had identified at an earlier stage.
What is Lord von Schmitt?
Lord von Schmitt is an innovative fashion company that specializes in high-end crochet clothing. They have reinvented the crochet technique by incorporating psychedelic 1970s motifs into their designs.
The company offers a variety of ready-made items ranging from umbrellas to underwear, jeans, blankets, socks, and baby clothing. Alternatively, customers can request bespoke designs to suit their specific needs.
The founder, CEO, and designer of Lord von Schmitt is Schuyler Ellers. Ellers developed a passion for costume design while studying at Columbia University. After graduating, he moved to Barcelona, where he worked as a costume designer for low-budget films, using items he found in charity shops.
Ellers quickly picked up knitting and sewing skills from his housemates, but he soon realized that these methods were not efficient for producing clothing. During his secondhand store visits, he discovered vibrant Afghan blankets with intricate designs that he saw as folk art created by past artists.
He transformed these blankets into “wearable sculptures,” leading to the establishment of Lord von Schmitt in 2010. The company’s name is a play on Ellers’ undergraduate nickname.
In 2010, Ellers presented his designs at a Los Angeles fashion event, but he did not make any sales. Undeterred, he opened an Etsy shop under the name Lord Von Schmitt, and in 2015, the E! Television network featured his crocheted shorts, resulting in an influx of 60 orders within a few days. Since then, the company has sold nearly 2000 items on its website.
Ellers currently resides in Nevada City, where he sells his range of trousers, shorts, jackets, and other apparel. While some items are quite expensive, such as a one-of-a-kind tailcoat priced at $2499.00, most pieces fall between $100 and $300.
Lord von Schmitt’s Etsy Shop and Amazon store offer a broad selection of their designs for customers to choose from.
What Happened to Lord von Schmitt at Shark Tank pitch?
During Shark Tank episode 1123, Schuyler Ellers brought his company, Lord Von Schmitt, to the show to present his unique clothing made from recycled Afghans. He was looking for a Shark to help him take his business to the next level and was seeking a $100,000 investment for a 10% stake in his firm, which had a $1 million valuation.
Schuyler shared the story behind his vibrant and imaginative clothing and allowed the Sharks to try on some of his creations. The Sharks were impressed by his handmade and eco-friendly products, which cost $30 to make and sold for $128 on his website. Robert asked about the cost of specific items, such as shorts ($58) and full outfits ($300).
When asked about his sales, Schuyler revealed that he had generated $198,000 in revenue over four years, with $37,000 in revenue in 2020. Lori asked if this was his full-time job, to which he confirmed. Kevin suggested that investing $100,000 in Schuyler’s business would be like making a ten-year sale. Schuyler shared that he had sold ten units.
Mark was the first Shark to leave, followed by Robert, Lori, and Daymond. Kevin seemed interested and gave Schuyler hope, but ultimately decided not to invest. Despite not securing a deal, Lord Von Schmitt is still in business as of February 2022.
Schuyler continues to work from home in Nevada City, developing and selling his products through his website and online shops such as Etsy and Amazon.
Net Worth of Lord von Schmitt
The company valuation was $1 million during and after the pitch. Since the company is still operating and hence the company net worth might had be more than that of pitch.
Lord von Schmitt FAQs
What is Lord von Schmitt?
Lord von Schmitt is a humanoid crocheted clad in a colorful outfit that creates popular crochet designs from repurposed vintage Afghans.
Who is the founder of Lord von Schmitt?
Lord Von Schmitt’s founder, CEO, and designer are Schuyler Ellers. He resides in Nevada City and has launched a variety of items from reusable clothing to knitted shorts via his website, Etsy Shop, and Amazon store.
How much was seeking on Shark Tank?
Schuyler was seeking for $100,000 in exchange for 10% equity in his company and valued the company at $1 million.
Did Schuyler have the deal?
No, Schuyler was not able to secure a deal despite his energetic and strategic presentation.
Is Lord von Schmitt still in business?
Yes, the company is still operating and the founder appears to be happy and enjoying his current working conditions.
Where is Lord von Schmitt located?
The company is located in Nevada City, CA.
How does Lord von Schmitt earn money?
Schuyler earns money by selling his items online via his website and stores like Etsy and Amazon.
What items does Lord von Schmitt offer?
Lord Von Schmitt offers a wide range of products, including clothes such as shorts, sweaters, jackets, skirts, and more. It also sells gloves, hats, scarves, and accessories.
What is Lord von Schmitt’s website?
The link to the official site is http://lordvonschmitt.com/. It allows users to buy clothing and accessories such as jackets, hats, shawls, sweaters, skirts, dresses, and more.
What type of clothing does Lord von Schmitt sell?
It sells clothes ranging from $99 to $300 for their fur products.
Is Lord von Schmitt shipping?
Yes, it offers free shipping on all US orders above $50.
How long does it take to ship?
It takes at least two weeks for the items to be delivered.
Where does Lord von Schmitt ship from?
It ships from North America via the United States Postal Service.
Does Lord von Schmitt accept returns?
Yes, it accepts returns within 14 days of delivery. The cost of return shipping will be at the expense of the buyer.
How do I pay for Lord von Schmitt?
The company accepts payment via PayPal, credit/debit card, and bank transfer.
Is Lord von Schmitt having affiliate program?
No, it does not have an affiliate program.
What is the net worth of Schuyler Ellers?
The net worth of Schuyler Ellers is $13 Million.