The Lapel Project Shark Tank Update

The Lapel Project Shark Tank Pitch

Sebastian Garcia appeared on Shark Tank Season 8, Episode 2, which aired on September 30, 2016, with custom suit lapels and designs.

The Lapel Project is listed in the Clothing Fashion category. In plain terms, the business is described as custom suit lapels and designs.

The Lapel Project asked the Sharks for $150,000 for 20%, implying a valuation of about $750,000.

On the show, The Lapel Project made a listed deal with Mark Cuban for $150,000 for 30%.

If treated as straight equity, the listed deal works out to about $500,000 implied valuation, down from the original $750,000 implied valuation.

This pitch is included as context for the more important question: what happened after Shark Tank.

The Lapel Project After Shark Tank

The Lapel Project accepted an on-air Shark Tank deal for $150,000 for 30%. The company is still operating after its Shark Tank appearance. (The Lapel Project Shark Tank Update - From $16K to Millions?

The net worth of The Lapel Project is estimated to be between $1 million and $2 million. (The Lapel Project Shark Tank Update - From $16K to Millions?

Mark’s team completely overhauled the company website and built a robust Amazon Store. (The Lapel Project Shark Tank Update - From $16K to Millions?

Sources

Sources used for this page: Shark Tank API pitches