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Husband and wife Duc and Lisa Nguyen got tired of buying multiple pairs of shoes for their children, only to have them quickly grow out of them before they could wear them enough to get their money’s worth. They decided to design a shoe that can be customized for any occasion, allowing parents to buy only one pair of shoes. Their machine-washable, recyclable, slip-resistant, patent-pending shoes, Baubles and Soles, allow kids to go from the playground to a party with a quick change of their accessories. Consumers can choose the base shoe that they would like to purchase for their child then they choose from select a series of baubles from the 20 options available. The bauble accessories simply clicks into the front of the shoe to quickly and easily change the appearance of the shoe.

Baubles and Soles are hoping to partner with a Shark that can help them understand the American market and expand throughout the US. Lisa and Duc are hoping to secure $100,000 in exchange for 15% equity in Baubles and Soles. They have had $150,000 in sales over the last 12 months and are projected to increase their sales to $300,000 this year, but have run into some complexities with inventory stocking. The Sharks are pleased to hear that the Nguyen’s have secured a mold company that has relatively low minimum orders so that they can easily increase stock whenever they need to.

Although the Sharks love their back story, especially how driven Lisa is in the face of adversity, they are concerned about their relatively low sales, their lack of marketing strategy, the complexity of inventory as well as the competition in the shoe business. The Sharks complimented her great presentation and her drive, but they all declined to invest in Baubles and Soles.

Lisa, didn’t give up, even after the Sharks all politely declined her partnership offer. Lisa offered to take the risk out of her initial proposal by giving back their investment money within 2 years, from the revenue that they make from their profits. This would ensure that the Sharks would get their $100,000 investment back while still allowing them to hold equity in the company. Impressed with her grit and tenacity, Daymond John offers Baubles and Soles $100,000 for 25% of the company, however, this deal is does not require them to pay him back for his investment. They quickly agree and are very excited to partner with Daymond.

Do you think that this was a good investment for Daymond? Were you impressed with Lisa’s persistence in the tank? Start the conversation in the comments below!