Muvez Net Worth 2022
Muvez shoes are indoor slippers featuring interchangeable soles designed by Eric Cruz and Ryan Cruz of their childhood friend Kevin Zamora to suit a range of environments and wear conditions. Customers quickly took notice and the footwear quickly gained traction online before becoming popular enough for an appearance on Shark Tank’s 11th season.
Muvez has become popular among NBA athletes and boasts an ever-increasing customer base, selling its products through both their website and Amazon. Muvez founders hope to patent their heel security technology, allowing the brand to grow further over time. Muvez currently stands at $3 million with plenty of room for future expansion.
In 2019, they secured an investment from Lori Greiner on Shark Tank that gave them $120,000 for 33% of their business, helping to increase revenues and expand. Furthermore, this allowed them to add women’s and kids’ shoes into their shoe lineup that are both comfortable and popular among sneaker enthusiasts alike.
Before its appearance on Shark Tank, this company was valued at about 800,000. Following the episode’s airing, revenue quadrupled to over one million dollars due to the Covid-19 pandemic that forced many non-essential businesses to close while driving public shift in shopping habits toward online stores.
The brothers are extremely proud of how their appearance on Shark Tank has enabled them to expand and develop their company. Since appearing, they have worked tirelessly to make sure their brand keeps expanding and developing; additionally, they now donate $1 to World Health Organization with every sale that takes place.
They have collaborated with numerous NBA players and their shoes are currently for sale at the official store of the NBA. Through these partnerships they have managed to raise significant funds for charity initiatives while also working with fashion designers on new styles for their collection.
Muvez’s success can be credited to many people. Their first investor was Lori Greiner, who saw potential in their product and invested. Since then, Muvez has grown from strength to strength – now featuring multiple brands under their name with over $3 Million worth in revenues and an enormous social media following. They even partner with various influencers to promote their shoes and build even larger audiences while increasing revenues even further – they’ve even become popular among celebrities! Muvez looks set for continued expansion – they may become household names shortly!