Baubles and Soles Net Worth 2021
When appearing on the popular television show Shark Tank, business owners may anticipate receiving an offer from one of its investors; however, this doesn’t always happen and companies sometimes go bankrupt or struggle after appearing. One footwear company which made an appearance has found much success and its name is Baubles and Soles.
Baubles and Soles is a shoe company founded by Lisa and Duc Nguyen that offers footwear with interchangeable accessories to transform its appearance, enabling children to coordinate their outfits with their shoes. Plus, their machine washable slip-resistant soles have proven immensely popular with both parents and kids alike! Since appearing on Shark Tank they’ve experienced phenomenal growth; currently worth more than $1 Million.
Prior to founding Baubles and Soles, Lisa practiced pro bono law in Vietnam before starting a non-profit that provided legal aid for refugees. Lisa and Duc decided to create Baubles and Soles when their daughter kept wearing out one pair of shoes over and over; their solution? A pair with interchangeable baubles that could be quickly put on or taken off!
On Shark Tank, they presented their idea and were approached by Daymond John who offered $100,000 for 25% equity stake. Though not one of the highest valuations on the show, Daymond John did see potential in their business plan; he offered them $100k at 25% stake and even included Robert Herjavec as one of his investors; but when presented with their product they did not enjoy its appeal and decided not to close a deal.
As Lisa was undeterred by this failure, she continued to pursue her goal and promote the shoes with help from celebrities who agreed to do videos about them, ultimately helping to increase sales and attract new customers. Since then, Baubles and Soles has become an international company selling in over 50 countries with partnerships with retailers for distribution purposes – currently located in Huntington Beach California with annual revenues reaching $200,000.