Ryan Cruz, Eric Cruz, and Kevin Zamora pulled out all the stops during their “Shark Tank” pitch. They manufactured specially designed Muvez for each shark, including “Mavericks blue” for Mark Cuban and red to compliment Robert Herjavec’s race cars.
Zamora noted the retail price was $110, including shipping, with a manufacturing cost of $26. “That’s good,” Lori Greiner replied. Zamora added that they’d earned $73,000 in sales with “practically zero marketing expense.” To manufacture the interchangeable outer sole was $8, with a sell-through point of $19-29. “This is cool as hell,” Daymond John admitted. Meanwhile, Mr. Wonderful looked confused as hell as he examined the shoes like they were from outer space. John was further impressed by the entrepreneurs’ blood, sweat, and tears tale of perseverance and determination in manufacturing their product. Even Cuban busted out a round of applause. However, Cuban admitted he’s “not a slippers guy,” stating, “I’m not a shoes bro household.” So Cuban was out.
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“It’s different,” a confused O’Leary said. “I find the risk crazy.” Not surprisingly, he was out. Herjavec said it was “a fantastic product,” but he couldn’t get his head around the branding. He exited, too. Greiner said she’d go in with another shark. However, John clung to his shoe with a look of steely determination. He knew he was onto something, but he played hardball. Eventually, John was all in at $200,000 for a 25% stake. Deal done.
