Boot Illusions Shark Tank Net Worth 2023
Boot Illusion is a product that lets you go from a shoe to a boot or a boot to a shoe by sliding a cover over the heel of the shoe. Queenie Davis and Andrew Goodrum founded Boot Illusion, with each partner having an equal partnership of $40,000.
They appeared on Shark Tank in 2012 and were looking for $100,000 for a 30% share. This indicates a $333,333.33 valuation of their Company. The Sharks liked the concept, and Barbara Corcoran offered them $100,000 for a 55% share.
However, the deal fell through as Queenie and Andrew faced some setbacks after the Shark Tank episode. Queenie Davis struggled to bring her company to market.
At the time of Shark Tank’s appearance, Boot Illusion was valued at around $200,000 according to the sharks. Currently, there is no information available on Boot Illusion’s net worth or revenue.
What Is Boot Illusions?
Boot Illusions is a footwear accessory that can be slipped over any pair of heels, transforming them into boots. By adding the fabric upper, the shoe takes on a completely different look, allowing consumers to diversify their style with just one pair of shoes.
The top portion of the accessory is crafted from either fabric or leather and simply slides over the heel of the shoe. This gives the appearance of a boot, but with the ability to switch back to the original shoe with ease. In fact, the top half of the Boot Illusions can even be unzipped and packed away for a quick style change while on the go.
Boot Illusions was created by Queenie Davis and Andrew Goodrum. Queenie is an accomplished entrepreneur, with businesses such as Bubbles Child Development and Day Care Centres under her belt.
She currently serves as the CEO of Queen Grace Shoes and pursued her goal of creating Boot Illusions by partnering with a Turkish manufacturer to produce the product.
What Happen To Boot Illusions At The Shark Tank Pitch?
On September 27, 2013, Queenie and Andrew appeared on Shark Tank season 3 episode 13, where they sought a $100k investment in exchange for a 30% stake in their company, which was valued at $333,333.33. During their presentation, they showcased their products and concepts, which impressed the Sharks.
However, not all of the Sharks were interested in investing in their business. Robert felt that he could not add value to their shoe business and withdrew his interest. Mark, on the other hand, did not have an interest in fashion and was not eligible to invest.
Kevin O’Leary believed that the company was overpriced and declined to invest. Daymond John saw potential in the company’s boot technology and offered $100,000 for a 75% stake in the technology to license Boot Illusions.
Barbara made an offer of $100k for a 55% stake in the company. While Andrew felt that the stake was excessive, Queenie and Andrew ultimately accepted Barbara’s offer, as she assured them that everyone she worked with was satisfied.
Boot Illusions After The Shark Tank Pitch
After appearing on Shark Tank, the company gradually lost its visibility. Despite their previous website’s repeated promises of a forthcoming catalog, nothing ever materialized. Boot Illusion launched a new website, but it was not linked to the previous one, causing harm to Queenie and Andrew’s business.
Barbara’s investment deal also fell through as the company was not as advanced as she had hoped. However, she maintains communication with Queenie and may reconsider if the manufacturing issues are resolved. In an interview, Queenie admitted to facing several challenges.
Their Turkish manufacturer went bankrupt, leaving them in a difficult situation. They tried to make arrangements with a Brazilian manufacturer to have products available for Christmas 2012, but the cloth Queenie sent to Brazil was held up in customs and did not arrive at the factory on time.
Boot Illusion was then obligated to reimburse all the funds they had received from wholesalers and customers. Despite resolving remaining issues, the company was set to launch in March 2013 but things did not work out, resulting in the business being shut down.
Boot Illusions Net Worth
Queenie and Andrew entered Shark Tank season 3 episode 13 on September 27, 2013 seeking $100,000 in exchange for a 30% stake in her firm. This indicates a $333,333.33 value. They accepted an on offer from Corcoran of $100,000 for 55% stake thus valuing at $181,818.8, they never closed the deal.
Boot Illusions Competitors
Competitors of Boot Illusion is One Sole.
Boot Illusions FAQS
How to use Boot Illusions in the right fashion?
Simply slip one shoe over the heel of another. The upper part of the shoe will fit tightly around the ankle, while the sole of the shoes will be fully exposed. This technique is easily undone and folded up.
Is Boot Illusions recommended for a buyer who?
Boot Illusion is perfect for someone who wants a variety of looks with a single shoe. The users can change up their style and match up with various outfits in minutes.
Who is the target market for Boot Illusions?
The firm produces shoes for women and men. It focuses on high-end clients, customers whom it describes as trendsetters.
How much does a pair of Boot Illusions cost?
The average boot illusion cost’s $25 to make and retails for $79 per pair.
What is Boot Illusions?
Boot Illusions changes shoes into boots and boots back into shoes. It enables consumers to diversify their looks with a single shoe.
The top half of the shoe is made of leather or fabric and slides over the heel, giving it the appearance of a boot.
The top may be unzipped and stowed in a suitcase to switch up the appearance on the go. It might provide the appearance of a fresh shoe.
Who is the founder of Boot Illusions?
Boot Illusions was founded by Queenie Davis and Andrew Goodrum.
What happen to Boot Illusions at the Shark Tank Pitch?
Queenie and Andrew entered Shark Tank season 3 episode 13 on September 27, 2013 seeking $100K in exchange for a 30% stake in her firm. They secure an investment from Corcoran but they never closed.
Boot Illusions after the Shark Tank pitch?
Following its appearance on Shark Tank, Boot Illusion faded from sight. Their previous website constantly promising a catalogue would be available shortly, but nothing materialized.
Boot Illusion had launched a new website, but there was no link to it from the previous one.
What are strengths of Boot Illusions?
Their product is unique, it offers a way to dress up an old pair of shoes.
What are weaknesses of Boot Illusions?
Only two styles are available and the product costs more than most people would like to pay.
How much money did Boot Illusions make?
Boot Illusion have not disclosed any information on sales.
What happen to Boot Illusion at the Shark Tank?
Queenie Davis and her business partner Andrew Goodrum appeared on Shark Tank in 2012 to promote their venture Boot Illusions.
“They weren’t nearly as far forward in the business as Barbara had planned,” Davis explained. The Boot Illusions website has been deactivated since then.
Is Boot Illusion out of business?
Boot Illusions is no longer in business.
How were Boot Illusions making money?
Boot Illusion was making money by selling their product.
What is headquarters of Boot Illusions?
Boot Illusion’s headquarters is in, Atlanta, GA.
Who is the competition of Boot Illusions?
The only competitor for Boot Illusion is One Sole. One Sole also makes differently appearances on shoes and boots, but it can be used on any shoe and has been a cheaper alternative to boot illusions.
Where do they purchase Boots Illusion?
No longer in business.
What is the net worth of Andrew Goodrum?
Unknown.
What is the net worth of Queenie Davis?
Unknown.
What is the net worth of Boot Illusion?
Unknown.
