Washed Up Hollywood Before Shark Tank
Danon Beres started a company called Washed Up Hollywood and manufactures designer buckles and belts, for both men and women. Danon Beres states that his dad is a very successful belt designer and that he has been in the business for over thirty years. Danon Beres also states that his dad has designed belts for high-end boutiques and celebrities.
Danon Beres grew up watching his dad design belts, and he states that he wanted to do the same thing ever since he became an adult. That is also the reason why Danon Beres decided to start up his own company. He states that Washed Up Hollywood is already successful and that they have sold to major department stores and celebrities all over the world.
Danon Beres also states that Washed Up Hollywood is a family business and that his brother and sister is working alongside him. It is very important for all of them to make their father proud of them. Danon Beres states that he knows his products are awesome and doing very well, and with the right investment, the company could grow much faster and bigger.
Danon Beres claims that he has huge aspirations to make Washed Up Hollywood into a huge worldwide business. If the Sharks invest, he guarantees that their pants will never fall down.
Washed Up Hollywood On Shark tank
“Danon Beres and two female models who are both wearing a Washed Up Hollywood belt and buckle, are walking confidently and stand in front of the Sharks”
Danon Beres starts his presentation by introducing himself and continues by telling the Sharks that he is the CEO of the innovative fashion accessory brand called Washed Up Hollywood. Danon Beres states that he is looking for an investment of five hundred thousand dollars, in exchange for twenty five percent of the company.
Danon Beres continues his presentation by stating that their company is most notably known for their unique hardware buckles and belts.
“The two female models walk towards the Sharks and hand them over a couple of Washed Up Hollywood belts and buckles”
“Robert Herjavec says that the belts and buckles are pretty cool”
Danon Beres states that the Washed Up Hollywood belts and buckles are hot. They are designed for the elite, such as world famous celebrities; however, they are affordably priced for everyone. The target market for Washed Up Hollywood belts and buckles are males and females between the age of eighteen and forty.
Danon Beres states that the Washed Up Hollywood belts and buckles have appeared in magazines worldwide. Danon Beres also states that he comes from a strong family background in the fashion industry.
In barely three years’ time, with the small investments that Danon Beres has put into Washed Up Hollywood, the company has steadily grown and became profitable.
The belts and buckles are being sold in over three hundred stores in twelve different countries. This includes one of the top upscale department store chains in the United States of America, as well as a major chain in Canada.
“Robert Herjavec asks Danon Beres what his overall sales are”
Danon Beres answers the question by saying that he has sold over four hundred and thirty five thousand dollars’ worth of Washed Up Hollywood belts and buckles in 2008 alone.
“Robert Herjavec asks Danon Beres if he made any money out of that”
Danon Beres answers the question by saying that he netted around fifty thousand dollars.
“Kevin Harrington asks Danon Beres what the price point for a belt and buckle is”
Danon Beres answers the question by saying that the price for a belt and buckle can be anywhere between fifty five and ninety nine dollars. He states that the prices are affordable for the quality that people are getting.
“Barbara Corcoran asks Danon Beres if he paid a hundred dollars for the belt that he is wearing himself at the moment”
Danon Beres answers the question by saying that the belt he is wearing does cost a hundred dollars, and that it cost forty dollars to make in wholesale.
“Kevin Harrington asks Danon Beres how many belts he has sold in the last twelve months”
Danon Beres answers the question by saying that he has sold a little over ten thousand units.
“Daymond John asks Danon Beres if he really sold ten thousand belts in one year”
Danon Beres answers the question by saying yes
“Daymond John seems pretty impressed”
“Robert Herjavec asks Danon Beres if his family is involved with the business as well”
Danon Beres answers the question by saying that he comes from a family with a huge background in the fashion industry. He states that his father designed belts and buckles for thirty years and that he has sold to high-end stores and celebrities. The belts and buckles that his dad made were thousand-dollar belts and buckles.
Danon Beres states that before he launched Washed Up Hollywood , he worked under his father’s wing for fifteen years. He went to tradeshows and learned the business, because he wanted to make a product that was at a lower price point, and that could be afforded by most people and sold to the masses.
“Kevin Harrington asks Danon Beres who his competition is right now”
Danon Beres answers the question by saying that Washed Up Hollywood does not really have a direct competitor. No one is really making belts and buckles at the same price point as Washed Up Hollywood, and no one has the type of belt or buckle that they make.
“Kevin Harrington asks Danon Beres why his company is better than other belt and buckle manufacturers”
Danon Beres answers the question by saying that the Sharks have already seen his belts and buckles, and asks them what is so different about them.
“Robert Herjavec states that the design is different”
“Barbara Corcoran states that the buckle is different”
“Kevin O’Leary asks Danon Beres who his designer is”
Danon Beres answers the question by saying that he is the designer.
Kevin O’Leary states that it is pretty rare for the CEO to also be the designer.
“Daymond John asks Danon Beres how much of his own money he invested into Washed Up Hollywood”
Danon Beres answers the question by saying that he has invested about a hundred and twenty thousand dollars of his own money into his company.
“Robert Herjavec and Daymond John state that they like the product, the belt and buckle, but that they do not like the two million dollar valuation of Washed Up Hollywood”
Kevin O’Leary states that Danon Beres has a product that has gone from zero to four hundred thousand dollars in sales, but that there is no chance that the company is worth two million dollars.
“Robert Herjavec asks Danon Beres how he would be able to get his investment back, should he choose to invest in Washed Up Hollywood”
Danon Beres answers the question by saying that he believes he can turn Washed Up Hollywood into a thirty two million dollar company, in only five years.
“Kevin O’Leary states that he loves Danon’s arrogance and confidence, but that he hates the valuation of the company”
Kevin O’Leary states that Danon Beres is an interesting character, especially because he is a CEO and a designer at the same time. However, this means that there is a risk involved, because if something happens to Danon Beres, his company would stop working.
Robert Herjavec states that Washed Up Hollywood is probably worth around six to seven hundred thousand dollars, and that he would be willing to offer up to two hundred thousand dollars, in exchange for twenty five percent of the company. However, he cannot offer five hundred thousand dollars, because he would have to own the whole company for that.
“Kevin O’Leary states that Danon Beres is very frustrating, because he has a good business, but he is greedy”
“Daymond John states that the price that Danon Beres is asking for is outrageous”
Danon Beres talks in the direction of Daymond John and states that he has in the fashion business for years. He also states that Daymond John has seen a company grown from zero to a very crazy high number.
“Danon Beres asks Daymond John why he cannot see the potential of Washed Up Hollywood”
Daymond John answers the question by stating that the Sharks are evaluating the company today, and not in the future when it might be worth a crazy high number.
Robert Herjavec states that what Danon Beres is asking for is gambling, and that there is a difference between investing and gambling. Robert Herjavec continues by stating that the Sharks do not have any upside when they offer a deal of five hundred thousand dollars.
Kevin O’Leary states that there is nowhere to go from here and that Danon Beres is giving him no choice. If Kevin O’Leary would invest five hundred thousand dollars, he would need a hundred and twelve percent of the company.
Danon Beres states that they need five hundred thousand dollars to bring Washed Up Hollywood to the next level, and that he believes his company is worth two million.
Robert Herjavec states that he cannot give Danon Beres the money he is asking for, because he would need to own more than a hundred percent of Washed Up Hollywood. He also states that Danon Beres has made a huge mistake with the valuation of his company. Robert Herjavec does not want to make an offer and states that he is out.
Kevin Harrington states that the numbers and the risk doesn’t really work for him. Kevin Harrington doesn’t want to make an offer either and states that he is out as well.
Barbara Corcoran states that if Danon Beres walked in front of them and asked for the right number, he would have gotten the investment. Barbara Corcoran states that she is out.
Kevin O’Leary states that Danon Beres has wasted his own time by asking for such a high number. Worse than that is that he wasted Kevin O’Leary’s time. Kevin O’Leary states that he is out as well.
Daymond John states that Danon Beres reminds him of himself, when he first started his own business. Daymond John continues by stating that Danon Beres has made the Sharks very mad by asking for such a high number, which they cannot give him. He states that Danon ruined his own opportunity of a lifetime. Daymond John is out as well.
At the end interview, Danon Beres states that the Sharks couldn’t see the big picture and that he doesn’t regret asking for the amount of money that he did.
Washed Up Hollywood Now in 2018- The After Shark Tank Update
Danon Beres learned how to make belts and buckles from his dad, who has been making them and selling them for over thirty years. The difference between Danon’s and his dad’s bets and buckles is that Danon designed them and tried to make them as affordable as possible, while his dad sold them for thousands of dollars. Danon Beres successfully started his own company and called it Washed Up Hollywood. He was selling over ten thousand belts and buckles per year and was making over four hundred thousand dollars in sales.
Danon Beres appeared in Shark Tank and asked for an investment of five hundred thousand dollars, in exchange for a twenty five percent stake in Washed Up Hollywood. Unfortunately, none of the Sharks were willing to invest that kind of money, especially because they thought that Danon Beres was over valuating his own company. There is no mention of Washed Up Hollywood being the best or worst on Shark Tank; however, all Sharks were definitely interested in investing, if only the price was lower than what Danon asked for.
After researching for a while, it seems like Washed Up Hollywood no longer exists as a company. On Danon Beres LinkedIn profile, it states that Washed Up Hollywood started in 2005 and stopped in 2010. This also means that the company does no longer have a website.
If you are interested in purchasing any of the Washed Up Hollywood belts and buckles, there are several pages of them available on EBay. Of course, the prices will be different, probably even higher than they were before. I could not find any reviews on Washed Up Hollywood belts and buckles.
I imagined that Washed Up Hollywood would be a successful business, even without the investment of the Sharks. I say this because of the fact that Danon Beres was already making a profit and was making a lot of sales. However, it seems like the company did not make it, or he simply wanted to pursuit other interests.