Boot Illusion is a leather or Fabric upper that slips over any heels giving them the look of a boot. Boot illusions are much cheaper than an actual pair of shoes.
So a woman could get 2 to 3 pairs of shoes at the cost of one. The uppers zip right off and can slip into a bag to change looks on the fly. Basically, the product can change any heels into boots. The shoe goes inside the fabric and turns them into boots.
Boot Illusion at a glance:
|BUSINESS||Fabric piece that turns Heels Into Boots|
|ENTREPRENEUR||Andrew Goodrum And Queenie Davis|
|ASKED FOR||$100,000 For 30%|
|ACCEPTED OFFER||$100,000 For 55%|
|BUSINESS STATUS||Unknown/ Out of business|
Who is the Founder of Boot Illusion?
Queenie Davis and Andrew Goodrum together founded Boot Illusion. They both had an equal partnership of $40,000 each. They appeared in Shark Tank episode 313. Boot illusion was not in production at the time of the shark tank pitch. They were in the prototype phase.
Did Boot Illusion get a deal on Shark Tank?
Queenie and Andrew were looking at $100,000 for a 30% share. The Sharks actually liked the concept and they finalized the deal with Barbara Corcoran.
Barbara had offered them $100,000 for a 55% share. However, the deal with Barbara fell apart as Quennie and Andrew faced some setbacks after the Shark Tank episode. Queenie Davis struggled to bring her company to market.
Boot Illusions, by Davis’ own admission, wasn’t quite transformative enough to meet her standard. She said, “We weren’t quite as far along in the business as Barbara had hoped.” Since then, the Boot Illusions website has been turned off.
How did Boot Illusion plan to make money?
Both partners had equal shares. The cost was around $25, and they planned to retail from $129-179.
What happened to Boot Illusion after Shark Tank?
Both partners Queenie and Andrew had invested $40,000 each. Barbara had offered them $100k for a 55% share. But after the company received a major setback, the deal got canceled. Queenie had to return all the money.
They had found some manufacturers in Turkey and Brazil but the deal didn’t work out either due to some technical and health-related issues. As a result, they had to return all the money they collected from orders taken by wholesalers and consumers.
They were planning to start production in March of 2013 but it could not happen because of some disruptions. They were planning to get featured on dozens of online catalogs after their production process. Their old website was deactivated and they were planning to sell Boot Illusion on their new website.
Net worth of Boot Illusion:
As mentioned earlier, they had finalized the deal with Barbara but it did not work out. Later they had found some manufacturers in Turkey but they also suffered a downturn and Boot Illusion had to stop working with them. Later they settled on a 4th generation shoemaker in Brazil. But that deal also didn’t work either.
At the time of Shark Tank’s appearance as per the sharks, Boot Illusion was valued at around $200,000.
Competitors of Boot Illusion:
One Sole by Dominique McClain Bartlet also appeared on Shark Tank and continues to be successful. Currently, its revenue is less than 1 million dollars. One Sole has around 460 employees.
Interesting facts about Boot Illusion:
- Jeska Shoe Company and One Sole also appeared on Shark Tank which had a similar concept of convertible shoes. Jeska Shoe Company failed after the show but One Sole still continues to be successful.
- After the deal with Barbara didn’t work out, Queenie didn’t stop. She didn’t give up. She tried to find new manufacturers and was almost successful in it.
- After the deal between Barbara couldn’t work, Queenie herself admitted that the brand wasn’t transformative enough to meet Barbara’s standards. She said, “We weren’t quite as far along in the business as Barbara had hoped. We never moved forward, but Barbara did call a few weeks ago to check in.”
- There was a possibility that if the brand had made some progress, Barbara could have jumped back in could have carried the deal forward.
- Their old website kept promising a catalog would come out soon but it never did. Boot Illusion had a new website, but there was no link from the old site.
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What is Boot Illusion?
Boot Illusion is a leather or Fabric upper that slips over any heels giving them the look of a boot. Boot illusions are much cheaper than an actual pair of shoes. So a woman could get 2 to 3 pairs of shoes at the cost of one
Who Founded Boot illusion?
Queenie Davis and Andrew Goodrum together founded Boot Illusion. They both had an equal partnership of $40,000 each.