Jeska Shoes Shark Tank Net Worth 2023
The company had a net worth of $233,000 at the time of pitching to Daymond John but, after his investment, its value decreased to $100,000. Unfortunately, the company is no longer in operation and so its current net worth cannot be determined.
What is Jeska Shoes?
Jeska Shoes aims to offer fashionable and comfortable footwear without the exorbitant markup. The company utilizes various high-quality materials, including vegan leather and premium Italian leather, to create their shoes.
Founded by Jessica Haynes in Emerson, Arkansas, Jeska Shoes primarily focuses on selling heeled shoes that provide a unique level of flexibility and convenience not found in traditional high heels.
The idea behind the product is straightforward: by snapping off one clip and replacing it with another, the shoe can transform from a stiletto to a wedge. This innovative concept of a modular or interchangeable high-heeled shoe is so impressive that it’s surprising no one else has thought of it previously.
Thanks to the simple and quick method of altering the style of the shoes, women can now have footwear that perfectly complements their outfit without the need to carry multiple pairs of shoes.
Who is the founder of Jeska Shoes?
Jessica Haynes established the Jeska Shoe Company, which specializes in producing heels that offer a level of adaptability and convenience that other high heels lack.
For her innovative shoe design, which replaces stiletto heels with flats through an interlocking magnetic system, she was awarded the Graduate Division’s annual Innovation Award.
The Donald W. Reynolds Governor’s Cup is a business plan competition aimed at motivating students in Arkansas, Nevada, and Oklahoma to turn their ideas and abilities into successful enterprises. The competition replicates the real-world process of entrepreneurs pitching their company proposals and seeking start-up capital from potential investors.
At the time of the broadcast, Jeska Shoe Company was a pre-revenue company that had not yet created any shoes for the market and did not have a website.
What Happened to Jeska Shoes at Shark Tank pitch?
Jessica appeared on Shark Tank in Season 4, Episode 18 of Jeska Shoes, showcasing her prototype shoes that feature a wedge instead of a stiletto heel. She sought $70,000 in exchange for a 30% stake in her company, which was valued at $233,000.
During her pitch, Jessica revealed that she had invested $63,000 of her own money into the business, including funds from her grandpa’s unspent college fund.
Although some of the Sharks were initially interested, they ultimately decided not to invest. Robert believed that women owned too many shoes and was out, while Kevin didn’t invest in pre-revenue startups and also passed on the opportunity.
Mark was unfamiliar with the shoe industry, and Barbara believed that Jeska Shoes’ target market could afford more than one pair of shoes, so they both opted out.
However, Daymond sympathized with Jessica’s journey as an entrepreneur and offered her a deal despite acknowledging that it would not be a good one.
He offered $70,000 for a 70% stake in the company, citing the effort he would need to put in to get the product off the ground as justification for the high percentage.
Jessica accepted Daymond’s offer, stating that she preferred a small piece of something to a large portion of nothing. She left Shark Tank with a deal and a new partner to help bring her shoe business to the next level.
What Happened to Jeska Shoes after Shark Tank?
After the episode of Shark Tank featuring Daymond John aired, the deals involving the deceased were finalized. Regrettably, not every product that secures a deal on Shark Tank attains sustained success.
In October 2014, Hayes made known her decision to liquidate her company, Jeska Shoe Company, on the firm’s Facebook page.
While expressing appreciation to her supporters, including clients, friends, and family, Hayes explained that the company had reached a point of “diminishing returns,” and it was no longer practical to persist.
Although a great product and a competent mentor like Daymond John do not guarantee success, Hayes has an entrepreneurial drive that should help her overcome the loss of Jeska Shoe Company.
Net Worth of Jeska Shoes
The company was valued at $233,000 during the pitch, after the investment done by Daymond John the company valued at $100,000. Since then the company is no longer in operation, hence the net worth is unavailable.
Jeska Shoes FAQs
What is Jeska Shoes?
Jeska Shoes is a shoe company that wants to give you stylish, comfortable shoes without all of the markup. Their shoes are made with vegan leather, super high quality Italian leather, and other materials.
Who is the founder?
Jessica Haynes founded Jeska Shoe Company. It is a pre-revenue company.
How much was she asking on Shark Tank?
Jessica was asking $70,000 for a 30% ownership in her firm, which is valued at $233,000.
Did she get the deal?
Yes, Jessica accepted a deal from Daymond John.
How much was the deal?
Daymond John offered $70,000 for 70% ownership in Jeska Shoe Company.
Is Jeska Shoes still in business?
Jeska Shoe Company is no longer in operation.
What is her net worth?
It is unavailable.
How many Jeska Shoe Company stores are there?
There are no stores open.
How many employees does Jeska Shoes have?
There are no employees working in this company.
Is Jeska Shoes a shoe company?
Jeska Shoe Company is a shoe company. It has a single product, the Jeska heel.
Where can I find Jeska Shoes?
Jeska Shoe Company doesn’t have a website, or a physical storefront.
Where is Jeska Shoes based and how much did it cost to start?
Jeska Shoe Company is headquartered in Los Angeles. It is a pre-revenue company.
Is Jeska Shoes a scam?
Jeska Shoe Company is not a scam. Read Shark Tank Review by Product Pitch Analysts.
Who are the competitors of Jeska Shoes?
There are no competitors for Jeska Shoe Company. It is a shoe company with a single product that solves an issue most women have.
How was the business model of Jeska Shoes?
The business model of Jeska Shoe Company was to sell shoes online.
How long did it take to market Jeska Shoes?
It took a year to market.
What was the final amount of money Jeska Shoes raised?
Jeska Shoe Company has not yet been fully funded, so it can’t be calculated yet.
Who were the investors before Daymond John invested in Jeska Shoe Company?
There are no investors in Jeska Shoe Company.
Was Jeska Shoes doing shipping?
Yes, Jeska Shoe Company ships shoes to the USA.
Is there any cost information with regards to Jeska Shoe Company?
No information on the cost of starting up and running is available for Jeska Shoe Company.
What is return policy of Jeska Shoes?
Jeska Shoe Company has a 30-day return policy.
Was Jeska Shoes accepting PayPal?
No, Jeska Shoe Company doesn’t accept PayPal.
Is Jeska Shoes on Facebook?
Jeska Shoe Company is on Facebook.
Is Jeska Shoes on Twitter?
Jeska Shoe Company is not on Twitter.
How many shoes are sold by Jeska Shoes?
Jeska Shoe Company has sold no shoes. It has only been in business for 1 year.
Is Jeska Shoes a profitable business?
No, Jeska Shoe Company has not been profitable yet.
What is the revenue of Jeska Shoes?
It is unavailable.
