Muvez Entrepreneurs Present Their Pitch On Shark Tank
Highlights
- Muvez appeared on Shark Tank in the ninth season.
- Entrepreneurs Ryan Cruz, Kevin Zamora, and Eric Cruz secured a deal from a prominent Shark.
- Although it faced the ‘Shark Tank Effect,’ Muvez’s current status seems to be in the dark.
There have been countless products in the Shark Tank history that have seen overnight success but could not enjoy it for long. One such product was Muvez, which appeared in the ninth season. Starting from its Shark Tank deal, this write-up offers many answers related to the Muvez Shoes Shark Tank update.
The pitch for Muvez was brought by the entrepreneur trio of Ryan Cruz, Kevin Zamora, and Eric Cruz in April 2020. Their product was an innovative sneaker that could be converted into a slipper. While the entrepreneurs faced apprehensions from the other Shark investors, Daymond finalized the deal with them.
Here is a brief recap of how Muvez went through a successful Shark Tank journey. Following it, there are complete insights regarding the Muvez Shoes Shark Tank update for viewers who are curious about its latest information.
Muvez Shark Tank: Quick Recap
Attempting to redefine comfort and style, Ryan Cruz, Kevin Zamora, and Eric Cruz approached the Shark investors seeking $200K for 15% equity in Muvez. The venture promised ingenuity to the Sharks with their inventive sneakers that could be changed into slippers. Muvez’s focus was to keep dirt and bacteria away from homes.
Offering samples to the panelists, the entrepreneur trio discussed the product’s functionality. The trio then revealed they had another partner, Lou Carrega, who helped them with his background in chemical and rubber engineering. Additionally, they prepared their prototype on their own.
Before its Shark Tank appearance, Muvez had made about $34K through a Kickstarter initiative. Ryan, Kevin, and Eric also claimed that they had made $73K in sales since April 2019 (without any marketing spending). A Muvez sneaker was made for $26 and sold for $110 (including shipping).
Although the Shark investors loved the sneakers, they opted out of the deal, fearing the huge costs for consumer education. The only investor to propose a deal was Daymond John. After some offers and counter-offers, he finalized the Muvez Shark Tank deal for $200K at 25% equity.
Muvez Shoes Shark Tank Update
While there was not much clarity on whether Muvez’s deal with Daymond John closed or not, the company did pretty well after the show. Facing the famous ‘Shar Tank Effect,’ the sneaker cum slipper venture made $400K in sales, which was four times more than what it did in 2019.
After the Muvez episode on Shark Tank, the pandemic broke, which again proved to be a boost for it. This is because, on the show, the entrepreneur trio claimed that their venture helped remove bacteria and dirt from homes. Such a thing was what people were hunting for during Covid.
As a result, Muvez saw a great surge in demand, which in turn amped up their sales. Motivated by the success and having earned huge, Ryan, Kevin, and Eric improved their customer support operations and warehousing facilities. Additionally, the entrepreneurs donated $1 per sale of Muvez to the WHO.
By 2022, the inventive sneakerwear venture achieved another feat when it was placed as one of the 100 finalists in the FedEx Small Business Grant Contest.
Despite the impressive accolades and wins, the current Muvez Shoes Shark Tank update seems to be in the dark. This is because the sneaker cum slipper company’s website is no longer available. Additionally, Muvez’s social media pages also have posts that are about a year old.
The social media pages of the entrepreneur trio’s brand further do not offer an impressive view as most of them are filled with customer complaints. Most users of Muvez comment about incomplete refunds and frauds.
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Entrepreneur Eric Cruz parted ways with the sneaker brand in February 2024. On the other hand, while Ryan Cruz and Kevin Zamora have Muvez listed on their social media, they have started their separate entrepreneurial ventures as well.
Conclusion
A Shark Tank deal from Daymond John promised an exciting journey for Muvez in the coming years. While the expectations seemed correct initially, it appears the sneaker brand has not been able to maintain its momentum. Despite a huge sales spike, its inactive website highlights an unclear future for Muvez.
The uncertainty regarding the latest Muvez Shark Tank update further grows owing to its lack of social media activity and its entrepreneurs pursuing other ventures.
Entrepreneur, auteur, raconteur. Rob Merlino is a blogger and writer who enjoys the Shark Tank TV show and Hot Dogs. A father of five who freelances in a variety of publications, Rob has a stable of websites including Shark Tank Blog, Hot Dog Stories, Rob Merlino.com and more.
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