Xero Shoes Shark Tank Net Worth 2023

Xero Shoes is a company with a net worth of $13 million in 2021 that has seen great success, being an official sponsor of the USA synchronized swim and archery teams at the Tokyo summer Olympics and named to the Inc. 5000 list for five years in a row.

With annual revenue reaching $23 million as of October 2022, their goal of expanding their “casual lifestyle” products by 2023 was achieved and their current net worth is now estimated at $20 million.

What is Xero Shoes?

Xero Shoes is a footwear company based in Boulder, Colorado, that specializes in minimalist shoes, including sandals and recreational shoes, inspired by the barefoot style.

The company was founded in 2009 by Steven Sashen, who is a Veterans All-American sprinter and one of the fastest men over the age of 55 in the United States.

After a 30-year hiatus from the sport, Sashen returned to competition but suffered from injuries for two years until he read “Born to Run” by Christopher McDougall and joined a barefoot running club in Boulder, CO. Running barefoot improved his stride and reduced his injuries.

To continue the barefoot experience in environments where shoes were required, Sashen created his own modern huarache-style sandal, which he named Xero Shoes. The sandals are designed to have a natural fit, feel, and function and feature a thin rubber sole sourced from Vibram in Italy and nylon polypropylene laces.

The company ships to 94 countries and is committed to sustainability, with a program that donates a pair of shoes to a needy child in the Philippines for every purchase made.

What Happened to Xero Shoes at Shark Tank?

During their appearance on Shark Tank, Steve and Lena presented their company and offered an 8% stake in exchange for $400,000. They stated that their company had generated over $650,000 in sales in the past two years and projected earning more than $1.2 million in 2012.

Daymond had concerns about the product and did not invest. Kevin O’Leary offered $400,000 for 50% equity shares of the company, but Barbara, Mark, and Lori declined due to valuation issues. In the end, Xero Shoes did not secure a deal on the show.

Following their appearance on Shark Tank, Xero Shoes experienced a 20% increase in sales in the week following the broadcast, exceeding their financial goals from the pitch. Furthermore, they received interest from multiple investors and formed a strategic alliance with TZP Group, a private equity firm, in December 2020.

With this partnership, the company aims to become a worldwide brand and expand the reach of their comfortable and beneficial footwear.

As of 2021, Xero Shoes had an annual revenue of $13 million, which surpassed their projected sales.

Xero Shoes Competitors

Xero Shoes faces competition from companies such as Naot, Vivo Barefoot, OluKai, Lugz, OOFOS, Vegan Wares, Okabashi, and See Kai Run.

Net worth of Xero Shoes

The company valuation in 2021 is netted $13 million.

Xero Shoes Shark Tank Updates

Xero Shoes appeared on Shark Tank in 2013, seeking an investment of $400,000 in exchange for an 8% stake in the company.

Although the Sharks did not invest in Xero Shoes, the company received a positive response from the public, resulting in over 3,000 new orders.

Xero Shoes also received an investment of $1 million in 2017 and $12.5 million in 2020. The company has been growing and expanding its product line, which includes barefoot sandals, shoes, boots, and DIY kits.

In 2023, there was an update on Xero Shoes’ appearance on Shark Tank. The company did not receive an investment from the Sharks, but it resulted in 3,000 new orders.

Xero Shoes has been doing well since then, with its products available on Amazon, the Xero Shoes website, and various retail locations worldwide.

The company has been improving its website, services, and product line, and has received investments totaling $13.5 million.

Xero Shoes’ appearance on Shark Tank also resulted in changes and improvements for the company. The exposure led to meeting people who helped improve their products, marketing, and business.

The company has been making changes to its website, introducing new ways to discover and share lacing and tying styles, contests, and new products. Xero Shoes has been growing and expanding its product line, which includes barefoot sandals, shoes, boots, and DIY kits.

Xero Shoes Shark Tank Table Summary:

TOPIC	SUMMARY
Company name	Xero Shoes
Founded	2009
Founder	Steven Sashen
Headquarters	Boulder, Colorado, USA
Products	Minimalist footwear, including sandals and recreational shoes inspired by the barefoot style
Net worth in 2021	$13 million
Net worth in 2023	$20 million
Competitors	Naot, Vivo Barefoot, OluKai, Lugz, OOFOS, Vegan Wares, Okabashi, See Kai Run
Shark Tank result	No deal was made on the show, but the company received over 3,000 new orders
Investment history	$1 million in 2017, $12.5 million in 2020, total investments of $13.5 million
Sponsorship	Official sponsor of the USA synchronized swim and archery teams at the Tokyo summer Olympics
Sustainability	Donates a pair of shoes to a needy child in the Philippines for every purchase made
Special Feature	Designed to have a natural fit, feel, and function
Annual Revenue (2022)	$23 million
Shark Tank Appearance	2013

FAQs of Xero Shoes

What Is Xero Shoes And How Does It Work?

Xero Shoes is a brand of minimalist footwear designed for walking, running, and sports athletics. The shoes have thin and very flexible soles contoured and designed to fit the shape of the human foot. Xero Shoes are made with the comfort and health of the feet in mind.

They promote natural foot function and allow the toes to splay properly during walking. Since there is no added support or cushioning in these shoes, they allow the wearer to feel where their feet are landing and adjust accordingly if needed. This leads to better gait mechanics, proper posture, and balance.

Xero Shoes were originally called “Invisible Shoes” and were created by Steven Sashen and Lena Phoenix in 2009. The shoes were designed to be minimalist and lightweight, with a thin sole that allows the wearer to feel the ground beneath their feet.

In 2012, the company engaged Dennis Driscoll, who has previously developed products for Avia, Crocs, Dr. Martens, and Wilson Sporting Goods, as a Chief Product Officer, and renamed the brand Xero Shoes.

Xero Shoes have been featured on ABC’s Shark Tank, where they received a lot of attention. The appearance resulted in 3,000 new orders for the company, even though Xero Shoes ultimately decided not to accept a deal from the Sharks.

Who owns Xero Shoes?

Steven Sashen is owner of the company.

What Was The Outcome Of Xero Shoes Shark Tank Pitch?

Xero Shoes appeared on Shark Tank and asked for a $400,000 investment in exchange for an 8% stake in the company.

However, they ultimately decided not to accept the offer and did not receive an investment or endorsement from the Sharks. Despite this, the appearance of Xero Shoes on Shark Tank resulted in 3,000 new orders for the company.

The company has been doing well since the show aired, with sales expected to quadruple in 2013. At the time of their appearance on Shark Tank, Xero Shoes had already done $650,000 in sales over two years.

What Happened To Xero Shoes After Its Appearance At The Shark Tank?

Xero Shoes received a lot of attention after its appearance on Shark Tank. The appearance resulted in 3,000 new orders for the company, even though Xero Shoes ultimately decided not to accept the offer from the Sharks.

In the first week after the show aired, over 2,500 people decided to try Xero Shoes. Despite not receiving an investment or endorsement from the Sharks, the company has been going from strength to strength.

Xero Shoes received an investment of one million dollars in 2017 and another of twelve and a half million dollars in 20201. Xero Shoes is still in business and doing very well, and has become a big brand in the market.

Xero Shoes are currently available on Amazon, on the Xero Shoes website, and in various retail locations worldwide.

The company has also improved its website, and services, and added a much more extensive line of barefoot-inspired shoes, DIY kits, sandals, boots, and many more.

What is their offer on Shark Tank?

On Shark Tank Steve and Lena came to Shark Tank looking for $400,000 for 8% stake in company.

Did they get an offer?

No, they did not get any offer from five sharks on Shark Tank.

What is the net worth of Xero Shoes?

The company valuation is netted $13 million.

Is still in business?

Yes, they are still in business.

What are competitors of Xero Shoes?

Naot, Vivo barefoot, OluKai, Lugz, OOFOS, Vegan Wares, Okabashi and See Kai Run.

Where can I buy Xero Shoes?

One can buy the shoes online at https://www.xershoes.com

Where is the headquarters of Xero Shoes?

The US headquarters is located in Boulder, Colorado, US.

 What is the main reason you’re in business?

The main reason I’m in business is to create personal freedom! I was in a rut with my job and wanted to travel the world but didn’t have a lot of money at the time.

How long has Xero Shoes been in operation?

Since 2009, and swiftly gained popularity as barefoot running gained popularity.

Are Xero Shoes morally acceptable?

Xero Shoes are made in China in a responsible, ethical, and equitable manner.

They also have an on-the-ground manufacturing agent that monitors the factories when they are not there to verify that working conditions are acceptable, workers are treated fairly, and the shoes are produced in accordance with all local rules and regulations.

Are Xero Shoes easy to wash?

Yes, hand cleaning Xero Shoes with warm water and mild detergent is recommended and allows it to air dry afterwards.

Who made an investment in Xero Shoes?

Feel The World, Inc. and TZP Group have announced a strategic investment and relationship.

How does it make money?

Direct sales of the shoes, retail sales for shoes online and from their workspace.

What is the goal of Xero Shoes?

To make a positive impact on many people’s lives. Through the sale of more than 1 million pairs of Xero Shoes, the company will donate one pair of shoes to someone in need each month via their website as part of their “Give a Pair” program.

Is Xero Shoes profitable?

Yes, the company turnover is about $13 million per year.

Is Xero Shoes the best-selling barefoot footwear company?

Yes, due to their “Keep it Simple” philosophy, they were the first to bring the minimalist shoe to market.

Is Xero Shoes sold in stores?

Yes, they are sold at REI, Amazon.com and other retailers.

Is there an equivalent of Xero Shoes for men?

Xero Shoes are made for women but many men wear them too! One can find more information on this site: http://www.xershoes.

Is it necessary to wear socks with Xero Shoes?

No, it’s made of a breathable fabric. It will allow heat and cold to enter. If you’re planning to wear these in the cold, you might only need to add a pair of socks.

Are minimalist shoes beneficial to your feet?

Minimalist shoes have the advantage of encouraging a distinct stride pattern in which one can land on their forefoot rather than their heel.

While this raises stress in the ankle joint, Achilles tendon, and forefoot, it has the opposite consequence of decreasing forces in the knee joint.

What is the main reason I want a pair of Xero Shoes?

The main reason I want a pair of Xero Shoes is because they are comfortable and affordable.

How is the business model?

The business model of Xero Shoes is to sell their shoes on-line and in retail, and donate one pair of shoes to a person in need each month.

What is Xero Shoes’ mission?

Their mission is to create personal freedom, and help people live life free from pain and disability; we want to make a positive impact on many people’s lives.