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Muvez Shark Tank Update

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Muvez, pronounced as Moves, is a unique product designed for people who do not want to change their footwear again and again. Muvez is a brand that makes sneakers that can easily turn into slippers. The slipper is the main body of footwear. The upper body of the footwear is knit and breathable and comfortable to wear as it is made of EVA copolymer and is flexible.

The outer sole can be easily worn or removed based on requirements. As the footwear turns into shoes, the pair can be used for running, walking, or casual activities. The user just has to step on the sole with the slippers on and it will lock easily. There’s no need to bend down and use your hands to wear or remove them. 

Muvez at a Glance:-

IdeaA pair of footwear with a quality of 2 in 1. (Sneakers come Sleepers.)
FoundersRyan Cruz, Eric Cruz and Kevin Zomara
Asked For$200,000 For 15%
Accepted Deal$200,000 For 20%
SharksDaymond John
Business statusIn Business
Episode No.Season 11, Episode 18
WebsiteMuvez
Buy on AmazonBuy Now!

Index:

Who are the founders of Muvez?

Ryan Cruz, Eric Cruz, and Kevin Zomara are the founders of Muvez. There are a total of 4. All four decided to start a business and used to sit together and finally came up with the idea of Muvez. During their initial stage, they knew they were not going to have a real prototype from factories, so they started traveling around the world.

They finally found Lou Carrega, who is a chemical engineer. Lou introduced them to the Chinese factories and raised a fund of $33,873 through a Kickstarter Campaign finally, Muvez was presented to the market.

Did Muvez get a deal on the Shark Tank?

Ryan, Eric, and Kevin Zomara came on the show seeking an investment of $200,000 for 15% equity in return. The trio shared their whole story of how they started and how they met Lou. Sharks loved the product but had a concern about the customers’ education. Mark Cuban and Kevin O’Leary went out due to the high risk involved in it and went out. Robert Herjavec felt the risk factor.

He said he didn’t find it a scalable business and went out. Daymond John loved the product and its work ethic and gave an offer of $200,000 for 33.3% equity in exchange. Lori Greiner said she is also interested in if any other shark is ready to join her. Trio asks Daymond to team up, to which Daymond refuses the suggestion. Trio gave a counteroffer of $200,000 for 20% equity. Daymond accepted the counter and the deal got closed.

What happened to Muvez after the Shark Tank Show?

After the shark tank show, the deal made on the show didn’t seem to be closed yet. Once the show aired, the company went out of stock for a few weeks. Muvez received huge fame through his appearance on the show and people went crazy for it. Daymond John’s participation after the show was noted everywhere. During the pitch, they asked for a valuation of $1,333,333.3, which was updated to $1,000,000 by Daymond John. 

See also  Deux Shark Tank Update

After the shark tank show, their sales were above the chart. They had sales of $400,000 after the show aired. Muvez also did CSR activities, like donating $1 million to the WHO. They also distributed 100 pairs of shoes in New Jersey to the hospital workmen and staff. After the show, Muvez received many investors for their future funding and appeared on many other platforms to expand their business.

The sneaker/ slippers combo of Muvez is available in black, blue, green, red, and white colors. A pair of Muvez costs $79.99 and an interchangeable pair costs $169.99, which can be set out into four different looks. Before the show, they used to sell only through their websites but, after their appearance, they were available in various retail stores and other online platforms to reach customers across the globe.

Muvez came into the market with a vision of fitting their combo of sneakers/slippers onto every leg and that vision fitted the legs of Muvez in the market easily after their appearance on the show. Currently, they are fully in stock for purchase. You can visit their official website and can enjoy the various discounted offers.

Competitors of Muvez are:-

  • Grade Footwear
  • Footlook
  • Disney Shoes Women
  • Qkodey

What is the net worth of Muvez?

The valuation at the time of the show was asked for $1,333,333.3 as per the founders, which was later updated to $1,000,000. The estimated net value of the Muvez is $3 million as of 2022.

Is Muvez still in business?

Muvez is still in business and is doing well. The founders are still together, which is the greatest strength behind Muvez’s success. After the show, there were various additions to the colors which improved the pair of combinations. Muvez also did various CSR activities during the period of the pandemic, which improved the goodwill of the business.

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FAQs:

What is Muvez?

Muvez, pronounced as Moves, is a unique product designed for people who do not want to change their footwear again and again. Muvez is a brand that makes sneakers that can easily turn into slippers. The slipper is the main body of footwear.

Who founded Muvez?

Ryan Cruz, Eric Cruz, and Kevin Zomara are the founders of Muvez. There are a total of 4. All four decided to start a business and used to sit together and finally came up with the idea of Muvez. During their initial stage, they knew they were not going to have a real prototype from factories, so they started traveling around the world.

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