Muvez Slippers Shark Tank Update | What Happened to Muvez after the Shark Tank Pitch?
Table of Contents
What is Muvez Slippers?
Muvez is a shoe firm that has created a new shoe design that converts slippers into sports shoes.
Muvez footwear has dual sole technology, which consists of shoes with entirely detachable and re-attachable lightweight rubber bottoms that enable for simple on and off.
The 2-in-1 shoes are said to be pleasant for sporty outdoor activities like jogging, walking, and leaping, as well as snug and comfy interior slippers.
The nicest thing is that you can quickly slip the soles off when you need to go inside without taking off your shoes. Then, when you need to run errands outside, you can easily put the soles back on.
Who is the Founder of Muvez Slippers?
Eric and Ryan Cruz, together with their childhood best friend Kevin Zamora, sought to discover a solution to the traditional home ‘no shoes inside’ rule in order to avoid tracking dirt into the house.
They realized how inconvenient it was to have to untie your shoes to walk indoors, then had to lace them back up every time you went outside for a little excursion.
They envisioned comfy “athleisure” slippers with removable and re-attachable soles that could be worn outside.
Due to obstacles, their first concept from 2013 was placed on hold.
Finally, the team was able to perfect their footwear design in 2019.
Carrega coached the boys and led them to Chinese companies that may help Muvez become a reality.
They collected $33,873 on Kickstarter in September 2019 to get their first sneakers on consumers’ feet.
The sneaker/slipper combo is known as “3 Ams.” Single pairs retail for $79.99 and are available in black, grey, red, and blue with white rubber soles.
A $169.99 interchangeable bundle includes two different coloured pairs of slippers as well as two sets of soles: one white and one black. This provides for four distinct appearances.
What happen to Muvez Slippers at the Shark Tank Pitch?
Ryan, Eric, and Kevin appear on Shark Tank season 11 episode 18 in search of $200,000 for a 15% stake in the company. This equates to $1,333,333.33 valuation.
The Sharks enjoy the product, but they are all concerned about the amount of customer education that will be necessary.
Shark Kevin O’Leary, on the other hand, believed that the danger of investing in a firm in a difficult market was too great and opted to withdraw.
Shark Robert Herjavec also declined to participate. He predicted that branding and selling the athleisure slippers/shoes would be challenging.
Shark Mark Cuban concurred, adding that while he admired the idea and its uniqueness, he also realized that marketing it would be expensive.
He wished the three entrepreneurs well and declined to participate in the auction.
Greiner informed the Muvez creators that the product was excellent. She was, however, wary of the risk and would only agree to a contract if another Shark did it with her.
Based on his expertise with his own brand, FUBU, Daymond informed the three that they would want assistance with licensing.
He turned down Greiner’s offer to partner in a deal and instead handed the Muvez founders the whole $200,000 in exchange for a 33.3 percent stake in the firm.
“Daymond would have been a terrific partner, but he put me under the bus,” Greiner stated before withdrawing from the offer.
Instead, entrepreneur Kevin Zamora made a counter offer of $200,000 for 25% stock.
Daymond agreed and accepted the offer of 25% stock. To seal the deal, he stepped up and shook and hugged the trio.
Muvez Slippers after the Shark Tank Pitch?
The transaction with Daymond does not appear to have been completed as of June 2020. What is clear is that the sneakers are no longer available.
They’re out of stock because they sold out and made $400,000 in sales in the aftermath of the initial airdate.
Muvez has expanded its product range to include the Women’s Muvez line, as well as two new hues of the Men’s Original Muvez Slipper, as of August 2020.
Muvez slippers are still available for purchase on the company’s website.
During the Covid-19 epidemic, the business gave one dollar for every sale to the World Health Organization.
They also gave over 100 pairs of their shoes to hospital personnel in Jersey City, New Jersey.
They’re still open and fully supplied as of July 2021.
Muvez Slippers Net Worth
Ryan, Eric, and Kevin appear on Shark Tank season 11 episode 18 in search of $200,000 for a 15% stake in the company. This equates to $1.3 million valuation.
They accepted an offer from Daymond of $200,000 for 25% thus bringing valuation to be $800,000.
Muvez Slippers Competitors
There is no competitor identified for Muvez.
Muvez Slippers FAQS
What is Muvez Slippers?
Muvez is a shoe firm that has created a new shoe design that converts slippers into sports shoes.
Muvez footwear has dual sole technology, which consists of shoes with entirely detachable and re-attachable lightweight rubber bottoms that enable for simple on and off.
Who is the founder of Muvez?
Eric and Ryan Cruz, together with their childhood best friend Kevin Zamora are the founders of Muvez.
How much were they seeking in the Shark Tank?
They were seeking $200,000 for a 15 percent stake.
Did they get the deal from the Sharks?
They received an offer of $200,000 for 25 percent from Daymond
Where can they buy Muvez?
They can purchase them on their official website.
Do they offer free shipping and returns?
Yes, they do provide free delivery to the continental United States.
They do not currently offer free returns, however please carefully follow their return instructions to speed the procedure.
When will their order ships?
Their order will be processed in 1-2 business days if the item is in stock. It will be sent to a carrier, which should take just 2-3 business days.
What shipping speeds do they offer?
They provide free regular shipping as well as expedited shipping for customers who choose to pay more for faster delivery.
Do they ship internationally?
Yes! They have delivered items to over ten countries, and the consumer is responsible for all associated expenses.
International shipping costs will be computed at the time of purchase. They are grateful for the affection from all across the world.
What episode was Muvez featured on Shark Tank?
They were featured on Episode 18 Season 11.
How much does it costs?
Muvez shoes cost $26 landed. The retail price, on the other hand, is $110, allowing the corporation tremendous profit margins.
Muvez offers directly to clients via their website and e-commerce outlets.
Are Muvez comfortable?
Muvez Shoes are really comfy and enjoyable to wear. When they come home from work, it saves them time. They are crazy with these slipper shoes.
How do they contact Muvez?
They’d be delighted to speak with them about it! For tailored guidance, contact one of their fit consultants at [email protected]muvez.co.
How do they wash a Muvez?
The Muvez’s outsoles are comprised of water-resistant foam, so washing them is simple. Their slippers may be hand-washed or machine-washed.
Do not put in dryer whatever they do.
Are Muvez machines washable?
Yes, they may be washed in the washing machine.
Where is Muvez located?
Muvez is a New York City-based footwear business founded in 2016 with the goal of reimagining traditional footwear by incorporating modern style, utility, and adaptability.
