Highlights
- Joel Vinocur and Arsene Millogo introduced Forus Athletics, a line of ultra-light running shoes, to the Sharks.
- Forus shoes feature multiple innovations and have raised over $48,000 through an IndieGoGo campaign.
- Despite $500,000 in sales over six months, the Sharks declined to invest due to high competition and inventory control concerns.
Overview
| Category | Details |
|---|---|
| Name | Forus Athletics |
| Founders | Joel Vinocur and Arsene Millogo |
| Industry | Sportswear |
| Product | Ultra-light, high-tech running shoes |
| Funding | IndieGoGo campaign raised $48,000 pre-Shark Tank |
| Investment Ask | $200,000 |
| Equity Offered | 15% |
| Valuation | $1,333,333 |
Joel Vinocur and Arsene Millogo enter the Shark Tank in episode 629 seeking an investment for Forus Athletics, their line of ultra-light, high-tech running shoes. The company got it’s start in 2009 when Vinocur and Millago, along with 3 other partners from Indiana University, decided their running shoes sucked. They were sick of “heavy” shoes that didn’t provide adequate support and required after-market insoles. Three years later, they ran a successful IndieGoGo campaign, raising over $48,000 to fund their first production run.
The shoes have many innovations, including a comfort insole. Forus has multiple patents issued and pending too. Their shoe design allows for maximum support when working out while providing quality shock absorbing capabilities and breath-ability. Forus Athletics weigh anywhere from 6-10 ounces lighter than standard running shoes. There are two models: Nytro 90x and Membrane Crypt, the latter shoes can be sent back to Forus for recycling and a 25% discount on the next pair. Other products include a line of back packs
Forus Athletics is a company with a social conscience. Their philanthropic vision is to donate 10% of global profits to children’s charities. The company currently funds a nursery school in China for factory workers’ children and scholarships for students who want to help children in the USA.
At $90 per pair, Forus Athletics are on par with other high-end running shoes. They are only available online as of the air date, but their website says they’ll be available to the mass market soon. Could a Shark find the right fit with Forus Athletics?
Forus Athletics Shark Tank Recap
Joel and Arsene enter seeking $200K for 15% of their business. Arsene expalins how he came to America and ran track while in college. They make the shoes for $11 and wholesale for $35 a pair. They do most of their sales online and they did half a million in sales in six months. They’re projecting $2.5 million next year.
Lori thinks there are too many big competitors, she’s out. Daymond starts asking who reorders and they say everyone does which is why they are having trouble keeping up. Mr. Wonderful thinks the battle is too big, he’s out. Mark has other endorsement deals in place, but he’s out. Daymond was on the fence, but he’s out.
At this point, they explain their proprietary email marketing software. Robert thinks they have too many battles, but he’s willing to invest if Daymond comes in with him. Daymond doesn’t want to argue with Arsene on a regular basis, so he’s still out. Robert is concerned about inventory control and won’t do it without Daymond who remains out. Robert stays out.
RESULT: NO DEAL
Forus Athletics Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Forus had major problems with customs and has many unfulfilled orders and unhappy customers. They continue to take orders, but appear unable to fulfill them. Despite taking people’s money, they have not delivered product and their social media pages haven’t been updated since October, 2015. It may be wise to find another pair of sneakers, use caution when dealing with this company and read the comments on bottom of this page and on this post before ordering!
Posts About Forus Athletics on Shark Tank Blog
Forus Athletics Company Information
Video
I have not yet received our order placed almost 2 months ago on 8.7.15 . I have sent emails with no response from this company. My order number is #3853. Their website says they do not have my email on file and there is no other way to contact them. Very dissatisfied with customer service.
Regina Pearce
I ordered my shoes after watching Shark Tank. I placed the order which cost me $85 and it hit my bank account almost immediately, However, the order #3858 on 8/7/2015 has not been fulfilled which makes me question Shark Tank’s TV show standing behind their products? I’ve gotten 1 e-mail saying the ship with my shoes were held in customs and cannot be released which was sent in October. Should I trust Shark Tank products when ordering or, not watch the show at all?
Some companies just don’t get it right. Remember – Forus DIDN’T get a deal….
I’m order number 2304… This company won’t respond to emails or phone calls. I want my money back.
My order #3179 was placed in April and I still do NOT have it. Customer service is a joke at best and like the other posters I can’t get a response from them at all.
Time to complain to the Indiana Attorney General and the US Post Office for mail fraud:
https://postalinspectors.uspis.gov/contactus/filecomplaint.aspx
http://www.in.gov/attorneygeneral/2434.htm
This company is a scam. I ordered my shoes a year ago and have not received them and they will not answer our phone calls or respond to emails shark tank needs to get involved and stop airing this episode.
Have not received my order placed and paid for in August. One email said they were delayed in customs. No response to repeated emails sent.
This company is a complete rip off. They have been reported to the Better Business Bureau, the Indiana Attorney General and the US Post office. The Better Business Bureau and the Attorney General have closed their cases since they received no response from Forus. Everyone ripped off should go on the US Post Office website and report them for mail fraud which is what they committed if you sent them money across state lines. These guys need to go to jail.
I agree with all the fraud statements above. They amazingly are still taking orders from those who have not heard of the fraud. They also have a video concerning their philanthropic activities!!!
USPS – please do send them to jail…or send me my shoes.
I ordered shoes when the show first aired and still waiting. This is not good, I was told back in July they are on the way to the USA. Now I’ve called 30 times, emailed 42 times, tweeted, with not one reply back. I’ve been robbed.
I have the same complaints. I ordered a pair of the shoes right after the initial airing on Shark Tank in April of 2015. Still haven’t received the shoes and all of my emails, voicemail messages and other attempts to these people have gone unanswered despite having paid for my order. These folks are simply dishonest (Order No. 2276). Maybe a follow up piece by Shark Tank publicizing these complaints can prevent others from being victimized.
FORUS=SCAM!!!
do not order from these frauds! I’m order #3094. Ordered a pair of shoes after being impressed with their presentation on Shark Tank. It’s been almost a year and no shoes have arrived. They were replying to my emails but I’ve had no responses from these cowards in 4 months now. Can’t anything be done legally to these pieces if excrement? I’m in Canada or I’d try to sue them. Can’t shark tank air something on what a fraud these guys are?
Do not order these shoes! i ordered over a year ago. At first the company was responding and saying the shoes were delayed. Now they stopped communicating and failed to respond to a BBB complaint. Do not waste your money
Same as you all. I don’t have my order number handy but they debit my acct for $75 back in aug 2015. No shoes, no response, no refund ! wowwee what a scam. I wonder just how much they got from us all in total ? bryan stallard 989 732 0403
I fell for the scam back in April 2015 and ordered shoes after seeing them on the show. No shoes, no response to emails anymore and weirdly, all the emails from them have disappeared from my inbox! They still have a voicemail that says they are busy and will call you back. Busy doing what? Spending our money!
I never got my orders either so I filed a complaint with the FBI. I encourage everyone to do so.
Placed two orders on May 24/2015. Orders 3402 & 3403. No replies from them, had the BBB try to contact them for me last year, however no one answered their phones. It is now January 20/2016, no shoes, no money. Out over $300.
Ridiculous that they continued to take orders after their “ship stuck at customs” was released.
Nothing but thieves!!!
They are defunct and under criminal investigation. Got the inside scoop on them – it appears they under declared the value of their container of goods and customs seized, then destroyed their merchandise.