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 Shark Tank Updates
Boot Illusions is a product that transforms a shoe into a boot and back into a shoe again, allowing for multiple heel/upper combinations to broaden one’s style. The product was pitched on Shark Tank in 2012 by creators and business partners Queenie Davis and Andrew Goodrum.
Barbara Corcoran offered a deal of $100,000 for 55% equity, which was accepted. However, the deal did not go through because the Turkish manufacturer went out of business.
After the Shark Tank episode aired, Boot Illusions went off the radar. The company had a new website, but there was no link from the old site. The company had to return all the money collected from orders taken by wholesalers and consumers because they could not find a manufacturer in time.
In December 2012, Queenie came out with a new line of Boot Illusions according to her Facebook page, but she hasn’t updated it since.
In 2023, there is no recent update on the success of the Boot Illusion business. However, a video featuring Queenie on YouTube was posted a month ago, featuring the new line of Boot Illusions for an Indigogo campaign. It is unclear whether the campaign was successful or if the business is still operating.
Boot Illusions Shark Tank Table Summary:
|Founders||Queenie Davis and Andrew Goodrum|
|Valuation||$333,333.33 before Shark Tank, $181,818.8 after|
|Shark Tank Appearance||Season 3, Episode 13 (September 27, 2013)|
|Offer from Sharks||Barbara Corcoran offered $100,000 for a 55% stake|
|Outcome of the deal||The deal did not go through due to a manufacturer issue|
|Net Worth/Revenue||No information is available|
Boot Illusions FAQS
What Is Boot Illusions And How Does It Work?
Boot Illusions is a product that transforms a high heel shoe into a stylish boot. It was created by Queenie Davis and Andrew Goodrum and was featured on Shark Tank in 2012. The product consists of a leather or fabric “upper” that slips over a conventional high heel to turn it into a boot.
The shoe goes inside the boot cover and the heel slides through into place, giving you two shoes in one. The combination allows you to broaden your style with multiple heel/upper combinations to get the look you want.
You can switch from shoes to boots and back again in a matter of minutes. The product comes in an array of styles, colors, and fabrics.
During their Shark Tank pitch, Queenie and Andrew asked for $100,000 for 30% of their company and ended up accepting an offer from Barbara Corcoran for $100,000 in exchange for 55% of their company.
However, the deal with Barbara did not go through because it wasn’t as far as Barbara had expected. The product is not currently in production, but Queenie is working on the retail presence of the product.
Who is the founder of Boot Illusions?
Boot Illusions was founded by Queenie Davis and Andrew Goodrum.
What Was The Outcome Of The Boot Illusions Shark Tank Pitch?
Boot Illusions was pitched on Shark Tank in 2012 by Queenie Davis and Andrew Goodrum. They asked for $100,000 for 30% of their company and ended up accepting an offer from Barbara Corcoran for $100,000 in exchange for 55% of their company.
However, the deal with Barbara did not go through because the company was not as far along as Barbara had hoped. The product was in the prototype phase when it was pitched on Shark Tank, and it is not currently in production.
The creators are working on the retail presence of the product. The Boot Illusions website is still up, and it looks like you can still order the product directly from the site. The cost of the product is around $25, and it will retail from $129-179.
The creators invested $40,000 of their own money into the company. After the show aired, the company went off the radar, and their old website kept promising a catalog would be out soon, but nothing appeared to change. The company had a new website, but there was no link from the old site.
Did Boot Illusions Get A Deal On Shark Tank?
Yes, Boot Illusions did get a deal on Shark Tank. Queenie Davis and Andrew Goodrum asked for $100,000 for 30% of their company and ended up accepting an offer from Barbara Corcoran for $100,000 dollars in exchange for 55% of their company.
However, the deal with Barbara did not go through because the company faced manufacturing issues.
What Happened To Boot Illusions After Its Appearance At The Shark Tank?
After appearing on Shark Tank, Boot Illusions faced several challenges. The company was in the prototype phase when it was pitched on Shark Tank, and it is not currently in production.
The Turkish manufacturer that they were working with went out of business, and they had to return all the money they collected from orders taken by wholesalers and consumers. The deal with Barbara Corcoran did not go through because it wasn’t as far as Barbara had expected.
Following its stint on Shark Tank, the company sank into obscurity. Their former website kept promising that a catalog would be available soon, but nothing ever came of it. However, the company’s website is still up, and it looks like you can still order the Boot Illusion directly from the site.
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 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?
What is the net worth of Queenie Davis?
What is the net worth of Boot Illusion?