Whatever Happened To Bello Verde After Shark Tank?

Entrepreneur Joseph Chay failed to nab an investor on "Shark Tank" for his men's custom fit company, Bello Verde, despite his energetic presentation. However, Chay found ways to both maintain his plans while continuing to find new avenues for his company.

Chay's "Shark Tank" appearance managed to boost the company's popularity by a significant margin. In a short period of time, Bello Verde saw its appointment requests increase from only two to three a day to up to 30. Despite their increased success, the company chose to largely abandon its original business model of solely providing custom fittings. While the website continued to advertise its specific process for custom fitting its clients, the team also expanded to wholesale opportunities, with the aim of providing support to individuals seeking to build their own clothing brands. On top of this, they sold accessories such as belts, shoes, and cufflinks through their sister company Astor and Black. In 2022, annual revenue for Bello Verde was estimated to be between $2 and $3 million, with an estimated net worth of $3 million.

Despite these additions, Bello Verde had a difficult time impressing customers. On Google, it has 2.4 rating average based on eight reviews that largely stems from their allegedly disappointing customer service and general lack of quality. This and their absence on social media since a Twitter post in 2019 don't paint the brightest picture for Bello Verde.

Joseph Chay's passion for fusing men's fashion and business took on a new life after stepping down as the chief operating officer of Astor and Black to start his own company, Bello Verde. Chay aimed to ditch the traditional storefront method of custom fitting, instead bringing a talented team of master tailors and designers directly to the customer to measure them out in minute detail. Later, when Astor and Black filed for bankruptcy in 2014, Chay acquired the company for $405,000 along with $1 million worth of its expansive clothing inventory. 

During his appearance in Season 6 of "Shark Tank," Chay seeks $360,000 for 6% equity. He also brings along two accomplished athletes — UFC fighter Urijah Faber and "Lois & Clark" star Dean Cain, who was a college football star before becoming an actor. They vouch for Bello Verde's usefulness and Chay's styling sensibilities. Chay energetically explains his plans for additional revenue streams involving online sales and algorithms to better determine sizing options. The sharks are barely able to keep up with Chay's zestful presentation, while also failing to make sense of his reasoning to have two businesses. Many of them drop out, citing high competition and Chay's outrageous valuation as their primary reasons for not going any further. 

The only shark willing to make an offer is Daymond John. The fashion guru offers $360,000 for 33%. However, Chay is only willing to go as high as 8% as his counter. After Daymond's final offer of 25% is turned down, Chay and company leave without a shark. 

At the moment, the status of both Bello Verde and Astor and Black is up in the air. Bello Verde is only selling a pair of cufflinks through Astor and Black as of this writing, and the company's website currently links to a WordPress site that has not been recently updated. Meanwhile, Bello Verde's Instagram hasn't been updated since 2016, and the company's Facebook was last active in the same year. It looks like Bello Verde has been out of business for a while, and Astor and Black has simply been selling old stock of their items.

Astor and Black itself seems to be in a hazy place as well. In 2019, founder David Schottenstein sold the business, exiting it with a $50 million payday as Joe Chay stepped up as CEO of both Astor and Black and Bello Verde. But while the New York store is still open, the flagship store in Boston has closed. The brand's Instagram and Facebook were last updated in June 2024 and April 2024, respectively, and the X account hasn't seen any action since 2018. While miraculous comebacks have definitely occurred under more strained circumstances, it looks like both companies are in an odd, in-between state of being closed and open. Time will tell how things shake out.