“While it’s taken several years to get to the point where our customer base was large enough to have a successful equity crowdfunding raise, we already have more financial commitments than Kevin O’Leary offered us, at a much more favorable valuation.”Ĭhildren’s footwear brands have also had their show moments. In order to take the business to the next level, the company recently launched equity crowdfunding. Today, said Phoenix, company sales have hit $2.7 million, with the line expanded from its original sandals to include athletic looks, causals and a series of boots set to debut this fall. While its own ecommerce business remains strong, in 2016, 35 percent of sales were generated from its wholesale and distribution partners. Since then, business has expanded to also include sales through Amazon, brick-and-mortar and international distributors. “We got in front of 8 million viewers.”Īccording to the entrepreneurs, in the week following the 2013 airing of the episode, d 3,000 sandal kits were sold through the company’s website. However, said Phoenix, the two believed O’Leary underestimated the value of their company and also walked away from the deal.Īlthough the couple, who had then been in business for 3.5 years, decided to push forward on their own, the “Shark Tank” appearance proved a positive experience. In February 2013, husband-and-wife team Lena Phoenix and Steven Sashen, co-founders of Xero Shoes, a collection of natural-movement footwear based on a barefoot-shoe philosophy, received a $400,000 offer from shark Kevin O’Leary for a 50 percent stake in their company. And the company is now getting into the college licensing game. “We’ve had so many more deals come from the exposure,” said Kettridge, citing retailers such as Neiman Marcus and Lids that have come on board. Further, ISlide has secured licensing deals with DC Comics, Nickelodeon, Major League Baseball, and more.ĭespite not getting a deal on Shark Tank, ISlide is going to be just fine.įor more Shark Tank Season 8 Episode 1 product updates, be sure to check the links below:įor more Shark Tank products update, be sure to check out our Season 8 Products page.Business, however, has continued to soar. In terms of an ISlide update after Shark Tank, the company is still in business and has managed to find its way into retailers like the NBA Store, Fanatics, and Dick’s Sporting Goods. Once he realized that, he decided he didn’t need to give up so much equity and knew at that “exact moment we were going to be alright.” “We have a good friend and investor who did exactly this for a living,” said Justin. In a blog post on the ISlide website, Justin talked about why he said no to the sharks. When it was all said and done, ISlide left the tank without a deal because Justin didn’t want to give up so much equity. Justin countered the offer at 10%, but Robert stuck to his guns. Things continued to get a bit dicey in the tank, until Antonio Brown dropped in to lighten the mood.ĭespite five of the six sharks being out, ISlide did manage to get an offer from Robert Herjavec of $500,000 for 20% equity. In its first three years, ISlide did $1.5 million in sales, but will only profit a portion of that, causing Kevin O’Leary to question the high valuation. Further, it is represented by a variety of influencers like Justin Bieber, Antonio Brown, DJ Kaled, and more. As the name implies, ISlide allows its customers to create custom sandals with names, logos, different colors, and more. ISlide appeared on Shark Tank Season 8 Episode 1 and was pitched by founder Justin Kittredge. Here’s a quick recap of everything that happened during the custom slide sandals pitch as well as news on an ISlide update after Shark Tank. Founder Justin Kittredge left the tank without a deal from the sharks, despite getting a generous offer from Robert Herjavec. ISlide appeared on Shark Tank on September 23, 2016.
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