Bello Verde on Shark Tank
Custom Tailored Suits - Episode 619 - 1/16/2015
|Bello Verde and Astor and Black|
Custom Made Tailored Suits
Seen on the Shark Tank Show
Back in 2011, the Famous Custom Suit Maker "Aster & Black" was sold to private equity investors that decided to move the business from Columbus, Ohio to Pembroke Pines, Florida. Joe was the Chief Operating Officer at the time and realized making such a bold move would lose several local clients they could no longer serve their custom-made clothing line.
It looks like Chey went along for the ride helping Aster & Black get established in Florida. But within a year, made the decision to move back to Ohio and start his own Custom Clothing Line called " Bello Verde". Joe already had enough customers lined up from the list of satisfied customers Aster and Black left behind, which made Bello Verde profitable from day one.
The decision to move Aster Black Custom Tailored Suits to Florida and start over turned out to be costly and ended up filing for Bankruptcy by 2013. On the other hand, Joe Chey and the "Bello Verde Custom Suits" continued to grow their very customized way of doing business. Joe had no problem raising the $400,000.00 to buy the "Aster & Black" Brand along with all the trademarks, website, inventory and excess merchandise. The merchandise alone was valued between $400k to $500k, making this an exceptional deal buying out his former employer. The first thing on the list, bring "Aster and Black" back to its roots in Columbus, and run both Custom Clothing Lines from the same location.
The Bello Verde Custom Made Tailored Suit's and the Aster and Black suits costing between $699 to $18,000.00 each is not exactly the type of business seen on the Shark Tank Show before. Before you even think about having a custom suit made, you'll first need an appointment with a Professional Clothier that comes to your home or office. They will do a complete 30-Point Fit Profile of all your measurements which Master Tailors will use for a custom-fit tailored specifically for you. How can you scale a business such as this to a Shark Tank type of investment? You might be surprised because Joe Chay has a solution that even the Sharks are going to like.
Bello Verde before the Shark Tank Episode 619Learning how Bello Verde grew as a business to make it on the Shark Tank, I almost forgot Joe Chay will have a little help pitching to the Sharks. Actor Dean Cain from "Ripley's Believe It or Not", and Uriah Faber a famous UFC Fighter, will also be part of the Bello Verde Custom Suits pitch. I couldn't find out if their already investors in Bello Verde or Aster & Black, but I'm sure they'll let us know during their appearance in Episode 619 this Friday night.
The biggest question is "Does Chey offer the Sharks an investment in the Bello Verde Brand, the Aster and Black Brand, or a combined equity stake in both companies"? Going into the Shark Tank trying to get an investment in one business and having another company not tied to the deal, has never worked in the past as far as I can remember. But I can remember more than a few businesses making this mistake thinking the Sharks might bite on a half-baited hook.
Considering how close the two Brands are tied together in several different ways, it only stands to reason, Joe, IMO, will be looking for an investment on the Shark Tank for both Custom-Made Tailor Businesses. Hopefully, both "Bello Verde" and "Asten & Black" will be combined at the beginning of his sales pitch. If the Sharks have to pry this information out of Joe like we've seen them do to other Shark Tank contestants, well, let's just say, the equity stakes always seem to go up, if at all.
Visit Bello Verde Website
Asten & Black Custom-Tailored Suits