Kids shoes are a tricky thing to shop for as children outgrow them fast. This is what prompted Duc and Lisa Nguyen to create Baubles and Soles. They manufacture shoes for kids with interchangeable baubles that make them look different every time. They appeared in the Shark Tank season 11 episode 7 seeking $100,000 for 15% of their company at a $666k valuation.
The Nguyens made a good impression on the Sharks. They presented their product with passion and a solid business plan. Initially, the sharks were skeptical of their business model and their valuation. However, they did not reject them right away and allowed the entrepreneurs to explain why their shoes are better than other alternatives.
Baubles and Soles offers a variety of baubles that allow parents to change the appearance of the shoes to match their child’s outfit. The baubles are easy to attach and can be removed when kids outgrow them. The shoes are made from a durable material that is machine-washable and dishwasher-safe. They also have anti-slip technology to help early walkers.
They claim that they have sold over 100,000 pairs of shoes since their launch in 2017. They are currently selling their product throughout America. The company has a large following online and has received many positive reviews from customers.
The baubles and soles net worth 2022 is increasing steadily as the company continues to grow and expand its market. The company has a number of strategic partners to support its growth. One such partner is a big retailer that distributes the baubles and soles shoes nationwide. The partnership will help the company to reach more consumers and increase its revenue.
In addition, the company is also partnering with a footwear manufacturer that can help it produce high-quality shoes at a faster pace. The company is also expanding its distribution network to include additional retail outlets.
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The Nguyens have a great story behind their business and are confident that they will succeed. However, they still struggle to get the funding they need. Daymond John steps in and offers the pair $100,000 for 25% of the company. This is an excellent offer for the couple, and it will give them a chance to take their business to the next level. Daymond also offers to de-risk the deal by giving them a two-year recoupment period, which will help the company to make sure it can pay back the investment. The Nguyens accept the offer. The Sharks are excited to see what the future holds for this innovative new shoe brand. We will continue to follow the business and its progress. If you want to learn more about baubles and soles, check out our blog for more information!