![]() The remainder was done through a range of brick-and-mortar stores and distributors in the U.S. “We got in front of 8 million viewers.”Īccording to the entrepreneurs, in the first week after the show aired, 2,500 people ordered shoes on the company’s website, which, coupled with Amazon sales, accounted for 65 percent of business. However, said Phoenix, the two believed O’Leary underestimated the value of their company and also walked away from the deal.Īlthough the couple, who had then been in business for 3.5 years, decided to push forward on their own, the “Shark Tank” appearance proved a positive experience. In February 2013, husband-and-wife team Lena Phoenix and Steven Sasha, co-founders of Xero Shoes, a collection of natural-movement footwear based on a barefoot-shoe philosophy, received a $400,000 offer from shark Kevin O’Leary for a 50 percent stake in their company. And the company is now getting into the college licensing game. “We’ve had so many more deals come from the exposure,” said Kettridge, citing retailers such as Neiman Marcus and Lids that have come on board. “It would not have been fair to our investors,” he said.īusiness, however, has continued to soar. Since Kettridge said he’d already raised more than a $5 million valuation for the company, Herjavec’s offer of $500,000 for a 20 percent stake devalued the business. While I could go on about why they won’t bid on I Slide, I will have to say I just know they don’t do a deal.According to Kettridge, who founded ISlide in 2013 and appeared on the show in 2016, Herjavec’s offer wasn’t strong enough. The production logistics and difficulty getting any kind of market momentum are extremely difficult. Historically, shoe companies don’t do well in the Tank. I am IN, in a size 11! Do Sharks Slide on Down? Sounds comfy and the added arch support – missing in most sandals – would be heaven for my flat feet. From what the company literature says, it’s like walking on water. One thing I like about them is the “ Waves Gel” sole. She thought the licensing/customization angle would help drive sales. Her response is always the same: “Why the would anyone want to start a shoe company?!” She said she was familiar with I Slide and thought they had a good niche, but New Balance isn’t too worried about losing market share to the company. She also worked for Reebok at the beginning of her career. Whenever a shoe business appears on Shark Tank, I contact an old friend who is an executive at New Balance. I Slide Sandals would be a welcome addition to my growing sandals collection. I wear my Xeroshoes when I am out and about and my Combat Flip Flops when I’m chilling around the house. I’m a big sandals guy since moving to Florida. Perhaps a Shark will find a good fit with this business. Kitteredge is no stranger to the footwear biz either: he managed the basketball division at Reebok before he started I Slide. At $65 a pop, they’re on the pricey side, but they’ve grown to a million dollar company in just three years, so somebody must be buying them. There are a lot of opportunities for the custom strap feature: corporate gifts, ad specialties, and personalized gifts. Fans can get their favorite team’s logo on the strap. I Slide was a big hit with pro basketball players and they have a license with the NBA. There are many licensed images available on the company website and on Amazon. You can also customize the strap with any non-licensed image. ![]() Different sole and in sole colors allow for a variety of color combinations. The other thing that differentiates the business is customers can customize their sandals. What makes I Slide sandals special is the patent pending “Waves Gel” sole, with built-in arch supports. Slide sandals are like flip-flops, but they have the band across the foot instead of the strap between the toes. The product is a new twist on a very old footwear staple: the sandal. Justin Kittredge hopes the Sharks invest in I Slide, his new custom slide sandal company, in the season 8 premier.
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