Third Guest: Aldo Orta, Aldo Orta Jewelry
Aldo is an artist from Mexico City, now living in Chicago. He wants to bring his jewelry to a bigger market and inspire other artists with his success.
He was looking for $180,000 in exchange for 45% of his business, a pre-money valuation of $220,000.
His jewelry art is very exclusive; his clients include the very wealthy, celebrities, and royalty. His inspiration is on mythology from many cultures. He wants to encourage awakening and awareness.
Aldo wants to take his products to a mass market and has created a new line to do that. He has an offer from QVC that he wants to take advantage of, but needs the funding to do so.
Kevin O noted that “he was the business”, and there was a tremendous risk in doing business with a “one man show”. He was also concerned that it was tough to take a premium brand down-market.
Daymond noted that no one was buying jewelry right now, and that it wasn’t a good time to invest in that industry. He as out.
Kevin H noted that there is a huge difference between making unique one of a kind products and products for the mass market.
Kevin O couldn’t get over him as a one-man business, and was out. Robert thought the price-point was too high, and he was out.
Barbara really liked him and his style, and offered to put up half the money.
Kevin H was on the fence, but he knows QVC and wants to leverage the brand. He was in for the other half with Barbara!
- Presentation: He was poised and focused, and did a good job representing himself. He seemed like a very passionate and successful artist.
- Business Strengths: He has built a great clientele and a good brand for himself.
- Business Weaknesses: The business is totally dependent on Alto. If he is unavailable for any reason, the business dies. And the business depends on a strong economy, and we don’t have one right now.
- The Deal: He asked for $180,000 for 45% of the company and got it! Barbara and Kevin split the deal.
- Sharks: They were very professional. Kevin O wasn’t nearly as rude as he usually is.
Next Step Suggestions:
- Use the money and Kevin’s knowledge and connections to leverage the QVC channel.
- There is great power in a brand that is sold to celebrities and you can say so.
- You can find out more at http://www.aojewelry.com/. There aren’t a lot of products to purchase, but we did notice a charming little bracelet for $4,500.
(If you are interested in raising capital for your business, visit us at www.AngelNetwork.com)