Remyxx Shark Tank Update | Remyxx after the Shark Tank
What is Remyxx?
Remyxx is a collection of stylish, fashionable and comfortable shoes that are constructed from a proprietary blend of recyclable materials that resemble canvas and rubber in appearance and feel.
They are designed to become comfortable as they wear out because they fall apart naturally after only six to eight months of use.
Remyxx has unique, durable, attractive, and comfortable sneakers. They come in a variety of bright, pretty colors and innovative designs that appeal to a broad range of preferences, ages, and genders.
The company was founded in 2011 by Gary Gagnon.
Remyxx is a line of recyclable footwear. Remyxx is a line of bold, comfortable, and innovative shoes that feature a uniquely colorful material blend.
As a former athlete, Gagnon knows how important proper footwear is to sporting performance.
In the course of his career as a shoes designer, he encountered hosts of athletes with foot problems ranging from bunions to flat feet.
He also dealt with those who simply wanted more comfort from their shoes.
Who is the Founder of Remyxx?
Gary Gagnon is the Founder of Remyxx, a collection of shoes that blend the characteristics of rubber and canvas.
He is a former athlete from Louisiana who has been designing shoes for several years.
Remyxx sneakers are created from a proprietary blend of recycled materials that resemble canvas and rubber in appearance and feel.
They are designed to become comfortable as they wear out, because they fall apart naturally after only six to eight months of use.
Gary Gagnon is a corporate sales representative who owns and operates Remyxx Shoes.
Gary founded Remyxx Shoes after observing how many old pairs of sneakers are discarded. They don’t even make it to the closet.
Gary accidentally stumbled upon a method of recycling used sneakers and thought he could use them as shoe material for his line of footwear.
The materials that go into Remyxx Shoes are: Textile/Rubber Blend – This is a blend of high quality and durable recycled materials.
It has a rubber and canvas feeling and resembles canvas in appearance and feel, but it’s even stronger than canvas, like rubber.
What Happened to Remyxx at Shark Tank Pitch?
Gagnon makes an appearance on Shark Tank in seeking for $50,000 for 10% stake in his company.
Gagnon further explain the company history that he is three weeks old in business and the company have no sales.
Robert Herjavec was the first one to exit the deal due to valuation of the company is low.
Kevin was the second followed by Mark and Barbara due to inadequate uniqueness of the product in the market and therefore they are all out of the deal.
Daymond John makes his offer of $50,000 for 80% ownership of the company. Gagnon counter offer for $100,000 for 50% equity shares of his company.
Daymond John also counter offer for $50,000 for 50% equity shares of the company. Finally the deal was closed by Daymond John and Gagnon.
What Happened to Remyxx after the Shark Tank?
After further negotiations, Daymond and Gagnon decided not to proceed with the transaction.
Rather than acquire a controlling interest in Gagnon’s Dream, Daymond chose to assist him in rebranding the Remyxx to ReKixx business independently.
Afterward he initiated Kickstarter campaign raised over $40,000, and the website and social media pages remain active following the episode’s appearance on Shark Tank.
The business began to expand gradually but steadily. Despite high expectations, the company was forced to close its doors in 2017.
Competitors of Remyxx
Remyxx has been compared to another shoe brand named Loomstate.
Loomstate is a line of sneakers that uses the same material as the Remyxx.
The company’s mission is to take pressure off the global waste stream and climate by using extremely durable hemp and recycled polyester in all their products.
Net worth of Remyxx
The company valuation was netted to $500,000 during the Shark Tank pitch but since the company had closed the door the net worth remain unknown.
What is Remyxx?
Remyxx is a new and innovative form of footwear made from recycled materials.
Who is the Founder?
Remyxx is founded by Gary Gagnon, who is a former athlete from Louisiana.
What is their offer on Shark Tank?
Gagnon asking for $50,000 for 10% equity shares in his company.
Did they get the deal?
Yes. He made deal with Daymond John for $50,000, but they do not proceed to the transaction.
Is still in business?
No, the company ceased operations in 2017.
Was it successful?
The company was not profitable, although it reached over $40,000 in Kickstarter campaign.
Where to buy?
Customers can purchase Remyxx through their website or through Amazon.
Does Remyxx Shoe Really Shark Tank Scam Review?
No scam here. The founder appeared on Shark Tank and got the deal but not proceed further.
What is the source of innovation?
The source of innovation is by combining recycled materials and rubber-canvas fabric.
Where can I order Remyxx?
Unfortunately, there is no direct place where one can order these shoes. One must go to a retailer or a boutique to buy the sneakers.
Where can I buy Remyxx?
Remyxx was sold online on Amazon and also in different retail stores in Louisiana. However, since the company has been closed the product is unavailable.
What does Remyxx do?
Remyxx shoes are created from a proprietary blend of recycled materials that resemble canvas and rubber in appearance and feel. They are designed to become comfortable as they wear out, because they fall apart naturally after only six to eight months of use.
What makes Remyxx better than traditional shoes?
Traditional canvas/rubber shoes can be uncomfortable for many people, especially if they have flat feet.
How is the business model?
The business model is by recycling natural materials, which prevents it from attracting negative environmental impacts.
How is the business sustainable?
The company is highly sustainable, since the waste generated by numerous shoes can be used to create many new products.
What are the weaknesses?
The main weakness of the company is the scarce exposure. Remyxx needs to have more exposure to have a better exposure in the market.
What are the strengths?
The strength of the company is that it helps people by creating new shoes for them. It also helps reduce waste, which takes a toll on the environment.
How about competitive advantage?
The competitive advantage of Remyxx is that its product is unique in terms of materials, design and uses recycled material wherever possible.
Why was closed?
The company was closed mainly because of the lack of business sense. Opportunities will always be there, but if you are not prepared, you will not be able to grab it.
It is advisable to check out Remyxx Products Reviews before buying.
How many employees Remyxx had?
It is difficult to tell how many employees Remyxx had since the company was closed. However, it has been stated that the company employed about 20 employees at its peak.