Washed Up Hollywood Shark Tank Net Worth 2023

Beres entered the Shark Tank looking for $500,000 in exchange for a 25% interest in Washed Up Hollywood, suggesting a $2 million value. Unfortunately, it was to no avail as Washed Up Hollywood had ceased operations by June 2010.

Despite Beres’ best efforts and resources, this situation highlighted how even the best-laid plans could go awry if not managed properly or kept up with market trends.

What is Washed Up Hollywood?

Washed Up Hollywood is a company that designs and produces distinctive belt buckles and belts for both men and women, and is located in Huntington Beach, California. Danon Beres, who is the son of the founder, plans to expand the business and uphold his father’s legacy.

The goal of Washed Up Hollywood is to carry on the tradition of the Beres family by crafting stylish belts and buckles for celebrities in Hollywood, while also introducing high-end fashion to a new generation of people.

The company’s collection is priced affordably, while still maintaining the classic look of the “doo-wop” era from the 1950s and 1960s.

What happen to Washed Up Hollywood at the Shark Tank Pitch?

Beres walked into the Shark Tank with a proposition to receive $500,000 in exchange for a 25% stake in his company, Washed Up Hollywood. This implies a company valuation of $2 million.

Beres was accompanied by two female models who were dressed in his designs and provided the Sharks with product samples. Robert Herjavec and Daymond John were impressed by the stylish accessories.

The Sharks asked questions about the company’s pricing, annual revenue, and competitors. Beres provided the figures, revealing that his belts ranged in price from $50 to $100, and the profit margins were strong. However, with $438,000 in revenue, his clear earnings were only $50,000.

Beres confidently presented the company’s history, organization, and financials. He claimed that the company was worth more than $150,000 and was increasing in value. However, the Sharks disagreed with his $2 million valuation.

Kevin O’Leary praised Beres’ confidence but criticized him for being too greedy. He suggested that a $500,000 investment required a company to generate $2 million in revenue. Daymond John questioned the accuracy of Beres’ sales figures, while Robert Herjavec accused him of seeking a gamble rather than an investment.

Beres mentioned that he was in negotiations with a jeans manufacturer to produce a private label design, but O’Leary was unimpressed. Herjavec left the deal, and Kevin Harrington declined to make an offer due to the high risk involved. Barbara Corcoran had already retired, so she was not present.

O’Leary stated that Beres had wasted his time, and John informed him that he had worked hard to get to this point but ultimately failed to secure a deal. Beres left the Shark Tank empty-handed.

Washed Up Hollywood after the Shark Tank Pitch

In an interview after his appearance on Shark Tank, Beres stated that he had initially intended to request $750,000, but decided to ask for a lower amount that he deemed more reasonable for the show.

Despite his high level of confidence before entering the Shark Tank, the Sharks did not share his conviction in his business.

Nevertheless, Beres persisted in pursuing his belt buckle goals and his company, Washed Up Hollywood, continued to do well as a niche retailer, selling through more than 300 retail locations and direct internet sales for a while. However, in June 2010, Washed Up Hollywood ceased operations.

Washed Up Hollywood Net Worth

Beres enters the Shark Tank looking for $500,000 in exchange for a 25% interest in Washed Up Hollywood. This suggests a $2 million value.

Washed Up Hollywood Competitors

Unknown.

Washed Up Hollywood FAQS

Is Washed Up Hollywood still in business?

Washed Up Hollywood has been discontinued.

What happened to washed up Hollywood after shark tank?

Washed Up Hollywood continued to thrive as a niche retailer, selling through over 300 retail locations and direct internet sales for a while.

What happened to washed up Hollywood from Shark Tank?

He did not get financing from the Sharks, but continued selling online and in retail locations until Washed Up Hollywood closed its doors.

Can they still buy the Washed Up Hollywood belt buckles?

No. All Washed Up Hollywood Belt Buckles have been discontinued.

Who owns Washed Up Hollywood?

Washed Up Hollywood is no longer in business.

Who can wear washed up Hollywood belt buckles?

Both men and women but Washed Up Hollywood Belt Buckles are no longer sold in retail locations anymore.

What were washed Up Hollywood looking at the Shark Tank?

The founder of washed up Hollywood, Danon Beres, entered the Shark Tank asking for an investment of $500,000 in exchange for a 25% stake.

What was strengths of Washed Up Hollywood?

Washed Up Hollywood became very popular and had a national retail presence with over 300 retail locations.

What weaknesses was of washed up Hollywood?

Washed Up Hollywood had no patent on their product.

Where is Washed Up Hollywood based?

Washed Up Hollywood was based in Huntington Beach, California.

What is Washed Up Hollywood?

Washed Up Hollywood was a brand of belt buckles that were made in the United States, sold online, and featured pop cultural relics from the 1950s and 1960s era.

How much does Washed Up Hollywood?

The belts range in price from $50 to $100. A $100 belt retails for roughly $40.

How long was Washed Up Hollywood in business?

Five years

What is the net worth of Danon Beres?

Unknown.

How do I pay?

Beres do accept credit cards.

What is business model for Washed Up Hollywood?

Beres sold the belt buckles online, and through over 300 retail locations.

What countries does Washed Up Hollywood do business in?

Washed Up Hollywood only did business in the United States.