Shark Tank: Muvez Accepts $200,000 From Daymond John

The Shark Tank welcomed brothers Ryan and Eric Cruz and their friend Kevin Zamora to showcase their specially designed footwear brand, Muvez. Their dual-sole technology allows consumers to wear them indoors as a slipper and add an outer sole if they have a need to go outdoors. The removable outsoles allow consumers the flexibility of converting their slipper to an outdoor shoe, but also to customize the appearance of their footwear.

After receiving a positive response from the market, Muvez is looking for a business partner who can help them with securing the manufacturing and distribution of their product as well as invest $200,000 in exchange for 15% equity in their company. The Sharks are impressed with the concept and quality of the product as well as its sales and margins. In less than a year, Muvez sold $73,000 worth of specialty footwear and are showing continual interest and growth in their product line.

Will these slip-ons find their mate in a Shark? #SharkTank

— Shark Tank (@ABCSharkTank) April 4, 2020

Although the Sharks are impressed with the product and success of Muvez to this point, they are most impressed with the perseverance of Ryan, Eric and Kevin. Although they have hit many roadblocks along the way, they haven’t given up on their idea and have even purchased their own molds and manufacturing equipment to make prototypes and products to entice investors. The Muvez crew has a vision of breaking into the athleisure space as well as capitalizing on the hygienic importance of not wearing shoes indoors to grow their customer base but needs a Shark to help them get their strategy and marketing off the ground.

Wait – do you wear your shoes inside??

— Robert Herjavec (@robertherjavec) April 4, 2020

Lori Greiner is interested in investing in Muvez, however, she would like another Shark to go in with her on an offer. Ideally, she was hoping to partner with Daymond, however, he makes it clear that he is going to make an offer on his own without the help of another Shark. Daymond offered Muvez $200,000 for 33.3% equity. His vision is to work out a footwear licensing deal. The Muvez team counter-offers for 25% equity and Daymond accepts. The team was very excited to partner with Daymond as he was their dream-Shark who they believe can help strengthen their company and brand in a way that they could not do on their own.

When a counter-offer pays off #SharkTank @TheSharkDaymond pic.twitter.com/odgwE13L0U

— Shark Tank (@ABCSharkTank) April 4, 2020

I was digging the shoes, but now I’m digging the entrepreneurs even more. Power of broke right there, using what you can to make it happen #SharkTank #Muvez

— Daymond John (@TheSharkDaymond) April 4, 2020

Careful @TheSharkDaymond – they know where your office is!! Congrats guys, you got a great #shark on your team #SharkTank #muves

— Robert Herjavec (@robertherjavec) April 4, 2020

Let’s go! Truly excited to be a partner with @muvez4. I won’t lie, these shoes are cool as hell. #SharkTank pic.twitter.com/aWbxs4T9st

— Daymond John (@TheSharkDaymond) April 4, 2020

Oh no… my buddy @TheSharkDaymond just threw me under the bus! @ABCSharkTank #SharkTank https://t.co/c2HvB230Kq

— Lori Greiner (@LoriGreiner) April 4, 2020

Great innovation! Who wouldn’t want a convertible slipper?! Nice work so far Muvez.

— Barbara Corcoran (@BarbaraCorcoran) April 4, 2020

What do you think of the deal that Daymond made with Muvez? If you were a Shark, would you have invested in this company? As a consumer would you purchase this product? Sound off in the comments below!

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