Monica Ferguson and Becca Brown hope the Sharks find a fit for Solemates, their solution that prevents heels from sinking into grass, in Shark Tank episode 803. The two former Goldman Sachs executives and Colombia MBA Graduates started the business in 2009. The flagship product are rubber slip-overs that fit onto women's high-heeled shoes. The product prevents heels from sinking in grass and provides better stability and grip in general.
Solemates evolved from that one product to include a whole line of shoe care products for women who love heels. Their mission: “Improving the lives of the well-heeled with every step.” Their line includes blister blockers, foot cushions, leather protectors, buffs and more.
Prices are modest with most products coming in at less than thirty bucks. They sell in a lot of online outlets like Zappos and Amazon. The company has existed for about seven years, so they must have some successes under their belts. They likely want a Shark to help expand their line.
Will Sharks think this is a well-heeled business and invest?
SoleMates Shark Tank Recap
Monica and Becca will pitch the panel of five Sharks on the business and its prospects for growth. They’ll need to convince Mark Cuban, Daymond John, Kevin O’Leary, Lori Grenier, and Robert Herjavec that the company is worthy of a Shark investment. A good business plan, good financials, and sales data will impress the Sharks, but they’ll need to show them THEY are capable of running the company to “Shark standards." A full pitch re-cap on SoleMates will be available on Shark Tank Blog once this episode airs.
SoleMates Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Once an episode has aired, we monitor the progress of the businesses featured, whether they receive funding or not and report on their progress. The Shark Tank Blog will follow-up on SoleMates & Monica Ferguson and Becca Brown as more details become available.