Entrepreneur Nick Romero pitched his printing company during
If you’re short on time, here’s a quick overview of what happened to The Ave after
Nick Romero appeared on
Shark Tank The Ave Update
- Entrepreneur: Nick Romero
- Business: Custom designs for clothes and shoes
- Ask: $125,000 for 15% equity
- Result: No deal
- Shark: None
Founder of The Ave, Nick Romero, walked into the tank and introduced the sharks to his patented printing process. Because we’re living in a digital era, young people are creating their own music, their own art, and their own photography.
Because of this, he believes the appeal is also there for them to create their own clothes. This gives them the ability to express themselves and customize just about any article of clothing.
His vision for his company is that The Ave will be the first retail chain ever, that allows people to customize anything from clothes, to shoes, and more. The process is done in just minutes, and the customer can use their art, graphics, or favorite slogans.
At the time of the pitch, Nick’s most popular service is offering customization of the customers favorite shoes. Rockstars, celebrities, and regular people have been ordering this service from all over the world.
He showed them how it worked, and created a custom pair of
Robert Herjavec asked about costs, and Nick said a custom shoe cost $100 with the shoe. This cost about $28 to manufacture, including the shoe.
Daymond John asked if it all came down to the machine, but Nick said it came down to a particular part he’d designed himself to fit several types of shoes.
Nick highlighted that since opening the previous year, they’d made $570,000 in sales with a profit of $150,000, all with only his small shop. He had several phases planned for development and growth, leading to franchising and licensing.
Daymond thought he was working too hard instead of working smart and focusing on leasing. He ultimately went out.
Mark Cuban agreed with Daymond, although he didn’t think that it diminished the opportunity.
Robert agreed with Daymond as well, so he went out next.
Kevin O’Leary went out based next, because he hates the retail space. Therefore, it wasn’t for him.
Similarly, Barbara Corcoran went out because she thought Nick was too focused on retail.
This left only Mark in play. He thought about it, but after further discussion with Nick, he didn’t think there was enough hard work involved on Nick’s behalf.
Unfortunately Mark went out in the end, leaving Nick without a deal.
Do you think he continued to thrive after following
Research for The Ave update reveals that Nick achieved his development dreams, despite not getting a deal on
At some point, The Ave rebranded to The Ave Los Angeles. Since the show, the company has done licensing deals with Bruce Lee, the Elvis movie, Hendrick Motorsports, just to name a few.
Check out all of their offerings on The Ave Los Angeles website. Annual revenue is estimated to be around $3 million.
If we learn anything new about this company, we will certainly let you know. In the meantime, you can check out our other company updates from Season 3 Episode 10, by following the links below!
There you will find out everything you could hope to know about these companies!
For even more on companies and products, be sure to stop by our Season 3 Products Page before you go!
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!