Baubles and Soles Net Worth 2022
Lisa and Duc Nguyen, founders of Baubles and soles, pitched their shoe business that allows users to easily customize the look of a pair of shoes by accessorizing with different accessories. They were seeking $100,000 investment for 15% equity.
Their story is remarkable; refugees from Vietnam who overcame numerous hurdles to become successful entrepreneurs. They managed to establish a business providing children’s shoes featuring interchangeable baubles that allow parents to personalize each look their child is wearing. Not only are these slip-resistant and machine washable shoes popular with parents but have proven incredibly popular with children as well.
At their Shark Tank pitch, the couple explained how their product addressed a real need among parents. Observing their children outgrowing shoes every time they wanted to wear something specific, the pair created a customizable shoe which allowed users to attach different baubles that matched clothing better – saving both money and hassle while shopping!
While initially impressed with their tenacity and story, the sharks quickly began questioning the business model and its profitability. Daymond John quickly exited, citing inventory as being problematic while Robert expressed doubts regarding online sales. Finally Lori Greiner also decided not to participate as she found her investment risky enough for her.
Even with their initial lack of enthusiasm from the Sharks, the Nguyens proved persistent and were eventually successful in convincing one of them – Daymond in particular – to invest. Lisa’s personal account about being a refugee wowed Daymond who offered them $100,000 for 25% equity of their business.
Since appearing on Shark Tank, The Nguyens have successfully expanded their business and made significant profits. Sales have significantly increased across America; revenue and marketing strategies continue to be refined – hopefully leading them even further!
How Much Are Baubles and Soles Worth? Baubles and Soles’ current net worth stands at $400,000, reflecting its significant rise over recent years due to its popularity; which grew significantly after appearing on The Bachelor and selling their products nationally.
The mission of this company is to offer stylish yet comfortable footwear at an affordable price for the whole family. They strive to accomplish this through offering customers an array of colors and styles along with high-quality American-made materials. Their current location is Huntington Beach, California.