Washed Up Hollywood Shark Tank Update | Washed Up Hollywood after the Shark Tank Pitch
What is Washed Up Hollywood?
Washed Up Hollywood is a Huntington Beach, California-based apparel accessory company that specializes in creating unique belt buckles and belts for men and women.
Beres intends to continue his father’s legacy by opening a new branch of the family business.
Washed Up Hollywood aspires to continue the Beres’ heritage of manufacturing attractive belts and buckles for the Hollywood elite, while also bringing high fashion to a new generation of celebrities and everyday people.
The collection aims to be inexpensive while maintaining the company’s hallmark appearance from the 1950s and 1960s “doo-wop” era.
Who Founded Washed Up Hollywood?
Danon Beres.
What happen to Washed Up Hollywood at the Shark Tank Pitch?
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.
He enters the Tank accompanied by two female models dressed in his creations. The ladies provide Sharks with samples.
Robert Herjavec and Daymond John are taken aback by the stylish accessories.
The Sharks begin parsing the figures, inquiring about the pricing point, annual revenue, and competitors.
Beres then delivers his figures. The belts range in price from $50 to $100. A $100 belt retails for roughly $40.
Profit margins are strong, yet with $438,000 in revenue, his clear earnings were $50,000.
Beres is composed and certain in his presentation of his numbers, history, and organization.
He asserts that the firm has a cash worth of more than $150,000 and is increasing.
He is certain that the $2 million suggested by his $500,000 proposal for 25% of the firm is a reasonable valuation. The Sharks take a contrary position.
In classic Mr. Wonderful manner, Kevin O’Leary extols Beres’ “arrogance.” He admires Beres’ dual role as CEO and chief designer, but he labels him a “greedy pig” for seeking such a massive investment, claiming there is no space for a return on investment.
Daymond John asks if Beres’ sales figures are accurate.
Robert Herjavec informs Beres that he is seeking “gambling” rather than an investment.
According to O’Leary, a $500,000 investment requires a firm to generate $2 million in revenue.
Beres indicates that he is in negotiations with a jeans manufacturer to produce a private label design. O’Leary, on the other hand, is unimpressed.
Robert Herjavec informs Beres that he has made a “significant value error.” He has departed.
Kevin Harrington concurs that the investment is excessive in light of the danger. He declines to make an offer.
Regrettably, Barbara Corcoran has announced her retirement.
O’Leary asserts that Beres has “squandered” his time. He has departed.
Daymond John informs Beres that he has “worked extremely hard to get here and extremely hard to destroy your potential.” Beres exits the Shark Tank empty-handed.
Washed Up Hollywood after the Shark Tank Pitch
Following his appearance on Shark Tank, Beres claimed in an interview that he originally planned to ask for $750,000, but then decreased the figure to a “more reasonable” amount for the show.
Clearly, his confidence exceeded the Sharks’ conviction in his business.
Despite his excessive confidence before to entering the Shark Tank, Beres did not abandon his belt buckle goals.
Washed Up Hollywood continued to thrive as a niche retailer, selling through over 300 retail locations and direct internet sales for a while. 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.
