The Lapel Project Update | Shark Tank Season 8

Sebastian Garcia and Raul Bernal recognized the high cost of renting tuxedos as a significant problem for men. In response, they created The Lapel Project, an affordable and customizable solution that transforms any suit jacket into a tuxedo. This innovative product aims to make tuxedo attire more accessible and affordable. Will the sharks see the potential in this idea? Find out in our The Lapel Project update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to The Lapel Project after Shark Tank.

Sebastian and Raul entered Shark Tank Season 8, seeking $150,000 for 20% equity in The Lapel Project. After their pitch, they made a deal with Mark Cuban for $150,000 for 30% equity.

In terms of The Lapel Project update, the company experienced significant growth after its appearance on Shark Tank, with Mark Cuban’s support playing a key role. Furthermore, they expanded their product line and have since grown to approximately $2 million in sales.

Shark	Result
Mark Cuban	Accepted offer of $150,000 for 30% equity
Robert Herjavec	No offer
Lori Greiner	No offer
Daymond John	No offer
Kevin O’Leary	No offer

Shark Tank The Lapel Project Pitch

• Entrepreneurs: Sebastian Garcia and Raul Bernal
• Business: Stick on lapels
• Ask: $150,000 for 20% equity
• Result: $150,000 for 30% equity
• Shark: Mark Cuban

Sebastian and Raul walked into Shark Tank to secure $150,000 in exchange for 10% of their company, The Lapel Project.

The entrepreneurs need an investment to scale production and expand their product line.

In addition, they aim to strengthen their marketing efforts to capture a larger share of the competitive men’s fashion accessory market.

Their business offers a creative solution for men looking to elevate their suits without the hefty price tag of a traditional tuxedo.

Furthermore, the Lapel Project’s innovative peel-and-stick lapels easily attach to any blazer or suit, instantly upgrading it to a tuxedo style.

Moreover, the lapels come in a variety of styles and can be applied using a specially formulated adhesive that’s safe for fabrics, so you won’t have to worry about damaging your clothing.

In addition, the lapels are quick to apply, reusable, and durable, making them a cost-effective option for anyone needing a polished look for special occasions.

Alternatively, for those who prefer a more permanent look, the lapels can also be sewn onto the suit.

Notably, The Lapel Project appeals to customers with its convenience and versatility.

This makes The Lapel Project an affordable alternative for anyone looking to achieve a polished tuxedo look without breaking the bank.

Specifically, ideal for weddings, galas, or any formal event, these lapels allow you to elevate your style effortlessly and affordably.

The margins are good—they make them for $5-$8 and sell them for $50-$100. So far, they’ve only sold $16,000 worth from the store Sebastian owns.

At this point, they want a shark to build out the online business. However, Robert Herjavec thinks it’s a gag gift and declines to invest.

Daymond John and Lori Greiner appear to want to make offers.

In contrast, Daymond ultimately decides not to invest. Lori quickly follows.

Meanwhile, Mark Cuban is very interested. He tells them he could help them “crush it” on Amazon, and he offers $150,000 for 30% equity.

Ultimately, the entrepreneurs are in, and they seal the deal.

Was this a good deal for Mark Cuban? Let’s find out in our The Lapel Project update.

Shark Tank The Lapel Project Update

Interestingly, our The Lapel Project update found that the deal with Mark Cuban did close successfully, fueling rapid growth for the company.

With Mark’s investment and guidance, the business saw a complete transformation.

Moreover, his team revamped the company’s website and significantly boosted its Amazon presence, leading to a remarkable 1000% increase in sales within the first year.

Additionally, our The Lapel Project update found that it also expanded its offerings, adding custom lapels, bowties, loafers, and special collections, all designed to make formal wear more affordable.

At the time of writing, the company has grown to around $2 million in lifetime sales.

As you can imagine, we’re calling our The Lapel Project update a success!

For updates on the other products featured in Season 8 Episode 2, check out the links below:

• TactiBite Fish Call Update
• GoodHangups Magnetic Hangers Update
• Ice Age Meals Update

Before you go, check out our Shark Tank Season 8 page for more updates.