Highlights
- Duc and Lisa Nguyen pitch Baubles and Soles, a line of interchangeable kid’s shoes, in Shark Tank episode 1109.
- They seek $100,000 for 15% equity and leave with a deal from Daymond John for 25%.
- The company’s innovative shoes use a patented interlocking bauble system and are made from a bio-based material. As of November 2022, Baubles and Soles generates annual revenue between $300,000 and $500,000.
Overview
| Category | Details |
|---|---|
| Name | Baubles and Soles |
| Founder(s) | Duc and Lisa Nguyen |
| Industry | Children’s Apparel / Footwear |
| Product | Interchangeable kid’s shoes with detachable baubles |
| Funding | $100,000 investment ask |
| Investment Ask | $100,000 |
| Equity Offered | 15% |
| Valuation | $666,667 (based on the investment ask) |
Duc and Lisa Nguyen hope to find a fit for Baubles and Soles, their kid’s shoe company, in Shark Tank episode 1109. The concept is fairly simple. They make a kids shoe that has interchangeable “bauble” to accessorize them for different occasions. Rather than have multiple pairs of shoes for kids (which they grow out of quickly), you get one pair and change out the patented, interlocking bauble for a different look.
The shoes themselves are made out of a proprietary bio-based material is 45% soy by weight. They’re made in the USA, comfy, slip resistant,machine washable and 100% recyclable. The best part is, the baubles fit all the shoe sizes they carry, so you can continue to accessorize as your child grows. Baubles come in a variety of styles ranging from rainbow unicorns to pompoms to bows and even tacos! There’s a bauble that will suit every child and there are even sets of matching Baubles and Soles shoes for mom.
Kids shoes cost $49.95 and come with one bauble set. Additional baubles are $12.95. To change the bauble out, simply twist and pull on the patented interlock device. The company has decent sales and has an Amazon Store. They probably want to get into national children’s stores and create awareness for their product. Will a Shark think this business has sole?
Company Information
Video
Posts about Baubles and Soles on Shark Tank Blog
Baubles n Soles – Interchangeable Childrens Shoes
Baubles and Soles Shark Tank Recap
Duc and Lisa enter seeking $100,000 for 15% of their business. The Sharks get samples and are inspired by the Ngyuen’s story. They say they want a Shark as a strategic partner. Daymond says they’ll need to carry too much inventory and he goes out. Mark and Robert are next: they don’t like the business model. Kevin thinks they did an excellent presentation and the valuation is spot on. Unfortunately, he doesn’t want to be in the shoe business, so he’s out. Lori says she was inspired by their story, but shoes are too competitive for her; she’s out.
With all five Sharks out, Lisa makes an appeal to their wallets. She wants to “de-risk” the deal by paying the investment back with profits. Daymond is impressed by this move and offers $100,000 for 25%. They agree to the deal.
Baubles and Soles Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. The deal with Daymond did close. As of November 2022, the company is in business with annual revenue of $300,000-$500,000.
