The Lapel Project, stick on lapels, was started by Sebastian Garcia and Raul Bernal in 2014. As of August 2023, The Lapel Project net worth is $2 million and they’re pulling in a whopping $5 million in annual revenue.
In October 2016, they appeared on season 8 of Shark Tank USA and made a deal withMark Cuban, for $150,000 for 30% of equity. The final valuation was $500,000, down from the founder’s initial estimate of $750,000.
In 2023, The Lapel Project still appeared in the business world. After their appearance on Shark Tank, the company’s sales increased significantly. They now offer a variety of lapels, including custom lapels, and they ship worldwide. You also can order their products online. For that visit their official website.
The Lapel Project Net Worth
|Net worth||$2 million (2023)|
|Annual Sales Revenue||$5 million (2023)|
|Profits||Not publicly available|
|Lifetime sales||Not publicly available|
|Founder||Sebastian Garcia and Raul Bernal|
The Lapel Project Net Worth Timeline
|Net Worth 2023||$2 million|
|Net Worth 2022||$2 million|
|Net worth valuation [Shark Tank appeared Year] after appearing on Shark Tank||$500,000|
|Net worth valuation [Shark Tank appeared Year] before appearing on Shark Tank||$750,000|
The Lapel Project Pitch on Shark Tank
|Company name||The Lapel Project|
|Product||Stick on lapels|
|Episode||Season 8 Episode 2|
|Founders||Sebastian Garcia and Raul Bernal|
|Asked for||$150,000 for 20% equity|
|Final deal||$150,000 for 30% equity|
The Lapel Project Founders
The Lapel Project was founded by Sebastian Garcia and Raul Bernal in 2014. Sebastian Garcia is the CEO and founder of The Lapel Project. He is a graduate of the University of Southern California and has a degree in business administration. Raul Bernal is the CTO and co-founder of The Lapel Project. He is a graduate of the Massachusetts Institute of Technology and has a degree in mechanical engineering. Sebastian Garcia and Raul Bernal’s founders, Sebastian Garcia and Raul Bernal, have a net worth of $1.4 million as of 2023.
|2016||Appeared on Shark Tank season 8 and Mark Cuban invested $150,000 for 30% equity.|
|2017||The Lapel Project was named one of the “Best New Products of the Year” by GQ magazine.|
|2021||Expanded its operations to Europe and Asia.|
From their beginnings on Shark Tank to their current status as a thriving business, they have proven that with the right idea and execution, anything is possible. We can’t wait to see the future for The Lapel Project and its continued success.