Shark Tank Update
Shark Tank Pitch
The Ave Shark Tank Update
Published:
2m
Venice
| Name | The Ave |
|---|---|
| Main Presenters | Nick Romero |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 9/1/2022 |
| Main Location | Venice Loading Map |
| Order Shown in Episode | 1 |
| Final Deal | All Sharks went Out |
The Ave Shark Tank Pitch
Nick Romero has a store in Venice, California called The Ave. The Ave allows people to get clothes customized on the spot. They specialize in custom shoes.
The Ave has done $570k of revenue in its first year with a $150k profit. Nick has a patent pending on a shoe holder that easily allows a $55k industrial printer to print on shoes.
Nick wants to build a bigger store where he can offer more shoe designs and add touch screens for people to search through designs. Then he wants to franchise The Ave to be in every state.
Nick never goes into the store anymore. He is living the "LA life." He'll settle for a six-figure salary for a few years before taking out millions if that's what it takes.
As the last shark in, Mark gave Nick every chance to get an offer, but Nick gave all the wrong answers. Mark thought he saw a glimmer of hope in Nick, but it was just Nick's cheek.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $125k for 15% of Company | |
| Sharks | Out | Daymond John | Out |
| Sharks | Out | Robert Herjavec | Out |
| Sharks | Out | Kevin O'Leary | Out |
| Sharks | Out | Barbara Corcoran | Out |
| Sharks | Out | Mark Cuban | Out |
Mark Cuban
Out
Daymond John
Out
Kevin O'Leary
Out
Barbara Corcoran
Out
Robert Herjavec
Out
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| No Episode Updates | |
The Ave After Shark Tank
According to a 2020 interview with shoutoutla.com https://shoutoutla.com/meet-nick-romero-founder, Nick said that when The Ave opened in 2010 the street was a ghost town but flourished over the next eight years. The Ave was known as a staple by the community.Link Preview
shoutoutla.com
According to voyagela.com http://voyagela.com/interview/meet-nick-romero-ave-venice-venice, Nick opened a second store on the University of Southern California campus and licensed his patent to a Canadian company.Link Preview
voyagela.com
In 2017 Nick launched his own shoe brand, NVR Shoes, built for easy customization and allowed for another sales avenue beyond being an upsell to Vans or Converse shoes.
In 2018 the landlord for The Ave Venice tried to double the rent and Nick had to make the difficult decision to shut down his Venice retail store and the community he loved so much. He then focused on the online and wholesale business.
In 2022 you can order through their website theavelosangeles.com https://www.theavelosangeles.com. I don't believe Nick is taking a $1 million salary every year but he has found success, which I'll admit I didn't expect. Link Preview
theavelosangeles.com
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