What Happened to Washed Up Hollywood After the Shark Tank Pitch?

What was Washed Up Hollywood?

Washed Up Hollywood was an apparel accessory company situated in Huntington Beach, California that specializes in manufacturing one-of-a-kind belt buckles and belts for men and women.

Who was the Founder of Washed Up Hollywood?

Washed Up Hollywood was founded by Danon Beres.

Beres plans to carry on his father’s legacy by establishing a new branch of the family firm.

Washed Up Hollywood intends to carry on the Beres’ legacy of producing gorgeous belts and buckles for the Hollywood elite while also introducing high fashion to a new generation of celebrities and common people.

The line attempts to be affordable while retaining the company’s signature look from the 1950s and 1960s “doo-wop” era.

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

Beres enters the Shark Tank in search of $500,000 in return for a 25% stake in Washed Up Hollywood. This corresponds to a $2 million valuation.

He enters the Tank with two female models dressed in his designs. Sharks are given samples by the females.

The elegant accoutrements astound Robert Herjavec and Daymond John.

The Sharks start scrutinizing the numbers, asking about the selling point, annual sales, and rivals.

Beres then presents his figures. The belts cost between $50 and $100. A $100 belt costs around $40.

His profit margins are high, yet despite $438,000 in revenue, his net earnings were $50,000.

Beres’ presentation of his data, history, and structure is calm and assured.

He claims that the company’s financial value exceeds $150,000 and is growing.

He is certain that the $2 million represented by his $500,000 offering for a 25% stake in the company is an acceptable estimate. The Sharks adopt the opposite stance.

Kevin O’Leary extols Beres’ “arrogance” in typical Mr. Wonderful fashion. He admires Beres’ dual function as CEO and chief designer, but he dismisses him as a “greedy swine” for demanding such a large investment, arguing there is no room for a return on investment.

Daymond John inquires as to the veracity of Beres’ sales numbers.

Beres is informed by Robert Herjavec that he is looking for “gambling” rather than an investment.

According to O’Leary, a $500,000 investment necessitates a $2 million income generation.

Beres says he’s in talks with a jeans maker about creating a private label design. O’Leary, on the other hand, is dissatisfied.

Beres is informed by Robert Herjavec that he has made a “major value miscalculation.” He’s already gone.

Kevin Harrington agrees that the investment is disproportionate in comparison to the risk. He declines to make a proposal.

Barbara Corcoran, sadly, has announced her retirement.

Beres, according to O’Leary, has “squandered” his time. He’s already gone.

Beres is informed by Daymond John that he has “worked incredibly hard to get here and tremendously hard to ruin your potential.” Beres walks away from Shark Tank empty-handed.

What Happened to Washed Up Hollywood After the Shark Tank Pitch?

Following his debut on Shark Tank, Beres stated in an interview that he had planned to ask for $750,000 but then reduced the sum to a “more fair” amount for the show.

Clearly, his confidence outweighed the Sharks’ belief in his business.

Despite his overconfidence before to entering Shark Tank, Beres did not relinquish his belt buckle ambitions.

For a time, Washed Up Hollywood thrived as a niche store, selling through over 300 retail locations and direct online sales. Washed Up Hollywood closed its doors in June 2010.

What is the Net Worth of Washed Up Hollywood?

Beres enters the Shark Tank in search of $500,000 in return for a 25% stake in Washed Up Hollywood. This suggests a valuation of $2 million.

Who is the Competitors of Washed Up Hollywood?

Washed Up Hollywood does not have a competition.

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Washed Up Hollywood FAQS

Is Washed Up Hollywood still in business?

Washed Up Hollywood is no longer available in business.

What happened to washed up Hollywood after shark tank?

For a time, Washed Up Hollywood thrived as a niche store, selling through over 300 retail locations and direct online sales.

What happened to washed up Hollywood from Shark Tank?

He did not get funding from the Sharks, but he continued to sell online and in retail venues until Washed Up Hollywood shuttered.

Can they still buy the Washed Up Hollywood belt buckles?

No. Washed Up Hollywood Belt Buckles are no longer available.

Who owns Washed Up Hollywood?

Washed Up Hollywood has closed its doors.

Who can wear washed up Hollywood belt buckles?

Washed Up Hollywood Belt Buckles are suitable for both men and women, however they are no longer available in stores.

What were washed Up Hollywood looking at the Shark Tank?

Danon Beres, the founder of washed up Hollywood, appeared on Shark Tank and requested a $500,000 investment in exchange for a 25% ownership.

What was strengths of Washed Up Hollywood?

Washed Up Hollywood grew in popularity and had a nationwide retail presence with over 300 stores.

What weaknesses was of washed up Hollywood?

Washed Up Hollywood’s product was not protected by a patent.

Where was Washed Up Hollywood based?

Washed Up Hollywood has its headquarters at Huntington Beach, California.

What was Washed Up Hollywood?

Washed Up Hollywood was a belt buckle company that was created in the United States and marketed online, featuring pop cultural artifacts from the 1950s and 1960s.

How much does Washed Up Hollywood?

The belts cost between $50 and $100. A $100 belt costs around $40

What was Washed Up Hollywood’s business model?

Beres marketed the belt buckles online as well as at over 300 retail locations.

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