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Nick Romero, a Venice Beach, California resident, presents his company, The Ave Venice, on Shark Tank on Season 3 Episode 06 to seek potential investment from the Sharks panel.
The Ave Venice, now known as The Ave Los Angeles, is a custom clothing and footwear company founded by Nick Romero.
The company specializes in creating unique, one-of-a-kind sneakers, T-shirts, and other apparel using a proprietary printing process that enables them to print high-quality, full-color designs directly onto various materials, including canvas and leather.
The Ave Venice offers various customization options, allowing customers to choose from pre-designed patterns or create custom designs for a truly personalized product.
The company primarily focuses on custom sneakers, but they have also expanded to offer custom apparel and accessories.
Nick Romero appeared on Shark Tank’s TV show to pitch his business and seek investment to help grow and expand The Ave Venice (now The Ave Los Angeles).
| Company Name | The Ave Venice, aka The Ave Los Angeles |
| Entrepreneur | Nick Romero |
| Product | Footwear and apparel with custom screen-printing |
| Investment Asking For | $125,000 for 15% equity in The Ave Venice |
| Final Deal | No Deal |
| Shark | No Shark |
| Episode | Season 3, Episode 10 |
| Business Status | In Business |
| Website | The Ave Venice Website |
What Is The Ave Venice?
The Ave Venice is a custom and unique printing firm that prints designs on shirts, hats, and other clothes. A custom printing enterprise specializing in clothing and sneakers, The Ave Venice, was presented by Nick Romero of Venice Beach, California.
A shirt printing machine was purchased, and he spent the next two years customizing it and creating software to print bespoke artwork on sneakers.
He brought out his “secret sauce” in the form of a patent-pending locking plate. Nick allows customers to bring in their artwork or choose one of his designs to have their clothes or sneakers printed while they wait.
Who Is The Founder Of The Ave Venice?
Nick Romero is the founder of The Ave Venice. Nick Romero resides in a Venice Beach, California community that appreciates the environment’s beauty. Yet, it was not until he visited Chicago that he found the perfect means of expressing himself.
Romero discovered this handmade t-shirt company while on vacation. This shop had a certain level of exclusivity due to the artwork being composed entirely of classic local designs. Romero then determined that Venice Beach required its own handmade shirt business.
Therefore, he set out to acquire his shirt printing machine. After acquiring it, Romero spent at least two years customizing the software to print bespoke art pieces on shirts and sneakers.
Once his establishment was established, The Ave Venice drew much interest. People loved the capability of bringing in their artwork and having it printed on t-shirts or shoes.
Romero has done quite well thus far but wants to do more with his business, so he chose Shark Tank. He wants to establish a partnership, not just because of the monetary commitment but also because of the Sharks’ business skills.
How Was The Shark Tank Pitch Of The Ave Venice?
Nick Romero appeared on Shark Tank seeking an investment of $125,000 in exchange for a 15% equity in The Ave Venice.
Nick Romero, the founder of The Ave Venice (now known as The Ave Los Angeles), appeared on Shark Tank in Season 3, Episode 13, which aired on February 10, 2012. He entered the tank seeking a $100,000 investment in exchange for a 15% equity stake in his company.
During his pitch, Nick showcased the unique custom sneakers and apparel created by The Ave Venice, emphasizing the high-quality printing process and the wide range of customization options available to customers.
He demonstrated proprietary printing technology and the ability to create personalized designs on various materials, including canvas and leather. The Sharks were intrigued by the concept and recognized the potential in the custom apparel market.
However, they had concerns about the scalability of the business, the cost of producing the custom products, and the potential for competition from other custom clothing companies.
Nick could not secure a deal with any of the Sharks despite their interest. The concerns about scalability, production costs, and competition ultimately led the Sharks to opt out of investing in The Ave Venice.
Final Deal: No deal between Sharks and The Ave Venice.
What Happened To The Ave Venice After Shark Tank?
Although Nick failed to convince the Sharks to invest in his business, he established a name for himself and The Ave Venice. Romero has established himself as an exceptionally popular designer with a notable clientele.
Nick Cannon, Aaron Paul, and Johnny Knoxville are just a few celebrities who wear his clothing. He has had top-tier celebrities wear his outfits and has also been featured in numerous publications.
There have been articles about The Ave Venice in Rolling Stone, MTV, and The Wall Street Journal. To learn more about The Ave Venice, visit their official website at http://www.theavevenice.com/.
Additionally, The Ave Venice maintains a Facebook page and other social media profiles that provide daily updates on the business. It is almost certain that Nick Romero will continue to be a huge success in today’s culture, and it is almost certain that the Sharks are coming up with blanks right now.
The Ave Venice Shark Tank Update
Nick Romero is doing quite well with The Ave Venice, even though he didn’t get any investment from the Sharks. Nick has already custom-printed tens of thousands of pairs of shoes and thousands of clothing items.
As a well-known designer who makes works of art that can be worn, he fields requests from customers in every world region. He launched Ave Los Angeles, a facility measuring 5,000 square feet that would handle online and wholesale orders.
As a result of his debut on Shark Tank, he is now known as a “Venice Hometown Celebrity,” and Avenue Venice is included on the “Places to See” list for visitors.
The patented technique allowed him to obtain licensing deals in the United States of America, Europe, and Canada. This resulted in collaboration with NVR SHOES, the world’s first casual shoe brand, with a shoe specifically developed for direct-to-garment printing.
Customers can design their shoes or choose from various pre-printed, licensed pictures on shoes. The Ave Venice is growing beyond Shark’s expectations and will generate $3 million.
Is The Ave Venice Still In Business?
Although The Ave Venice (now known as The Ave Los Angeles) did not secure a deal on Shark Tank, the exposure from the show helped boost the company’s visibility and generate public interest in its custom clothing and footwear products.
After the show, founder Nick Romero continued to grow and expand his business. The Ave Los Angeles has since expanded its product offerings, delving into various custom apparel and accessories and their signature custom sneakers.
They have collaborated with several brands and artists to create unique, limited-edition products. The company has managed to carve out a niche in the custom clothing market and attract a loyal customer base due to its unique and high-quality customization options.
The Ave Venice obtained a patent for its shoe technology and now licenses exclusive shoe designs via its online/wholesale business. They now have a company that produces an exclusive shoe for The Ave Venice, making this a unique niche business.
Still, Nick Romero misses a huge opportunity to license the technology. He could have generated significantly more money by licensing his technology to important companies. He is now constrained by the amount of material he can make.
Nick’s shoes have been featured in various media and are rather cool. Nick receives substantial attention for his work, which indicates he doesn’t care about the money but more about the LA lifestyle, even though he preaches the opposite. The Ave Venice is still in business, with annual revenue of $3 million.
What Is the Net Worth Of The Ave Venice?
The valuation of The Ave Venice was $800,000 when it appeared on Shark Tank. The net worth of The Ave Venice is estimated to be $3 million.
