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What Happened to ReMyxx(Rekixx) Shoes After Shark Tank?

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Are you tired of your shoes falling apart after just a few wears? Do you want to make a difference for the planet while looking stylish and feeling comfortable?

Look no further than ReMyxx Shoes, the innovative footwear company that’s revolutionizing the shoe industry. ReMyxx Shoes are made entirely from recycled materials, including rubber from discarded tires, making them eco-friendly and sustainable.

But that’s not all – ReMyxx Shoes are also incredibly comfortable and customizable, with interchangeable soles and straps that let you create a new look every day. Whether you’re hitting the gym, heading to work, or just running errands, ReMyxx Shoes will keep your feet comfortable and your conscience clear.

So step into the future with ReMyxx Shoes, and join us in creating a more sustainable world, one step at a time.

Remyxx Shoes at a glance:

EpisodeSeason-3, Episode-15.
Business IdeaRecyclable-Sneakers-Brand.
FounderGarry Gagnon.
Asked For$50,000 at 10% of equity.
Accepted Deal$50,000 at 80% of equity.
SharksDaymond Jhon.
Business StatusOut of Business
WebsiteFb Page

Index:

Founder Story:

Remyxx Shoes are founded and developed by Garry Gagnon In the year 2009. The idea to develop this comes to his mind when her kid’s beaten sneakers and her wife’s old shoes are sitting in the trash, next to recyclable Bins.

They wanted to change the way of thinking about sneakers. That “they can be recycled too”. They started making sneakers that are 100% recyclable, they begins researching sampling and mixing various materials, and testing results.

Finally, they made “Reymaxx Shoes”. It is made with a special blend of materials and construction. They not only represent designs and fashion but also “Awareness and Sustainability”.

What is Remyxx Shoes?

Remyxx Shoes was introduced as a recyclable sinker brand that makes footwear and sneakers by using recyclable items collected from various landfill areas. They collect old unused footwear that are thrown by its users into the waste and processed them into new comfortable and stylish sneakers.

The idea behind this product is to recycle all waste footwear and shoes that unwantedly create serious problems in our environment. “Research says there are over 300 million pairs of shoes are thrown away each year in the US alone.”

To solve this problem Garry comes forward and makes use of them. They are the only footwear in the industry that is introduced completely landfill-free. They recycle their product when it becomes of no use. Remyxx Shoes are made with lab-certified materials and are technically proven that you can put them into the Blue-Bin.

Did Remyxx Shoes get a deal on Shark Tank?

Garry Gagnon introduced his product to ABC’s famous reality show Shark Tank on 5th August 2012, in season-3 and episode-15. He introduced his product as the only kind of company that produces footwear and sneakers by using old sneakers that are thrown into the waste.

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These are fashionable and create awareness among others to recycle their sneakers. They are made of 100% recyclable lab-tested materials. They are the only footwear that is completely “Landfill-Free”. Most of the sneakers are gone into the trash and become a landfill.

They asked for an investment of $50,000 at 105 of equity in his company. Sharks asked for his sales figures. As they don’t have any sales till now because they are just 3 weeks to start with his operations, they don’t have made any sales till they reached the show.

Sharks also asked for his ownership and patent information, that they don’t have any patents and proprietary rights which becomes a major problem for sharks. Sharks don’t find any relative connections in it as the idea of the product are useful and quite interesting but they don’t want to invest in it.

Therefore all Sharks backed out except Daymond John who shows interest in it and offers him $50,000 but for 80% of the equity of her company. Garry offers him a counteroffer of $100,000 at 50%, Daymond denies that again Garry offers $50,000 for 50% but again Daymond rejected his offer. Finally, Garry accepted Daymond’s offer and here they get a deal on Shark Tank.

What happened to Remyxx Shoes after Shark Tank?

After the show, Reymaxx Shoes gains massive popularity and its sales were increased. The deal of shark tank was not been done as Garry felt that they don’t want to sacrifice 80% of equity therefore he backed himself and canceled the deal with Daymond Jhon.

Although Daymond suggested they start a Kickstarter campaign to raise money to manufacture the footwear. Later Garry can into a contract and trademark issue with DJ who has a brand called Remix. So he later changed his brand name to ReKixx. And run’s its operations further.

Their company is still didn’t find any relevant touch by their market, As of April-9-2017 they decided to shut down its operations, as “it sold only 2,800 pairs of shoes in 4 years, and having insufficient to sustain his business over past 4 years”. 

Competitors of Remyxx Shoes:

No competitors are found in its segment as the idea and product are new to the market. Therefore no competitors are found.

Net Worth of Remyxx Shoes

The company is not in business today, as it closed its operations in 2017 at the time of its appearance on the show they were valued at $62,500.

Is Remyxx Shoes is still in Business?

NO, the company is not in business today as it shut down its operations in the year 2017, due to the insufficient availability of funds, and its business is not performing well.

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Related Articles:

What is Remyxx Shoes?

Remyxx Shoes was introduced as a recyclable sinker brand that makes footwear and sneakers by using recyclable items collected from various landfill areas.

Who founded Remyxx Shoes?

Remyxx Shoes are founded and developed by Garry Gagnon In the year 2009. The idea to develop this comes to his mind when her kid’s beaten sneakers and her wife’s old shoes are sitting in the trash, next to recyclable Bins.

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