Baubles + Soles is a California-based interchangeable shoe brand. The brand was founded in 2017 by Duc Nguyen and Lisa Nguyen. Both this couple started the business with interchangeable shoes for kids, but now they are also making women’s interchangeable shoes.
When their daughter Kaya was 10 months old, someone had given her a pair of shoes that had a red heart on it. Lisa got an idea of why not change this red heart and attach something else. From this idea “Baubles + Soles” was born.
The couple appeared on Shark Tank Season 11 Episode 7 for funding and asked the sharks for $100,000 for a 15% equity at a $666k Valuation.
What Are Baubles + Soles?
Baubles + Soles is a brand that sells interchangeable shoes. The shoes of this brand are slip-resistant, machine washable, and 100% recyclable.
There are many females who keep a collection of different shoes for their children and themselves for parties or occasions. It costs a lot to buy shoes only. The solution to these problems is interchangeable shoes, which try to give different looks to the same shoe.
The look of the shoe can be changed by attaching different Baubles to it. You can buy these products from Amazon and the company website.
|Company Name||Baubles + Soles|
|Founder||Duc Nguyen and Lisa Nguyen|
|Product||Interchangeable American-made shoes|
|Asked For||$100k for 15% equity|
|Final Deal||$100k for 25% equity|
|Episode (Shark Tank USA)||S11 E7|
|Air Date||Nov 10, 2019|
|Business Status||In Business|
|Headquarters||Huntington Beach, California, United States|
|Lifetime Worth (Sales)||$1.7M *estimated|
|Buy and Watch||Buy Now||Amazon Prime|
Another Shark Tank Pitch
Who Is The Founder Of Baubles + Soles?
Lisa Nguyen is the founder and CEO of Baubles and Soles and her husband Duc Nguyen is the co-founder of the company.
After completing her Master of Laws from the University of Sydney, Lisa worked as the Executive Director of “Voice” for 3 years.
How Was The Shark Tank Pitch Of Baubles + Soles?
Husband and wife team Duc Nguyen and Lisa Nguyen explained their business to the sharks after entering the shark tank. They asked the sharks for $100k for 15% equity.
The base shoe with packaging costs $11, retails for $49.95, and wholesale for $25. In the last 12 months (2018), they have done sales of almost $150,000.
80% of their business revenue comes from wholesale and they are projecting to do $300,000 in sales in 2019.
All the sharks dropped out because they felt this business was not right for them. Seeing this thing, Lisa was very shocked. Lisa asks the sharks to “de-risk” the deal, prompting Diamond John to offer $100k for 25% equity.
Finalized: Daymond John invests $100k in exchange for 25% equity in Baubles + Soles.
What Happened To Baubles + Soles After Shark Tank?
After this episode of Shark Tank aired, the sales of this company’s shoes increased. Daymond John has closed the deal. In 2022, the estimated annual revenue of this company had gone up to $500k.
What’s new on Baubles + Soles
Last Update: June 16, 2023
Right now we do not have more information available about this company. When we visited their shop site on June 16, 2023, the site was not available.
Baubles + Soles Shark Tank Update
This couple gave a very good presentation on Shark Tank, however, all the sharks refused to invest in this business. Most of the sharks said that this footwear business is not investable at present.
We’re following Duc Nguyen and Lisa Nguyen along with their company for further updates.
What Is the Net Worth of Baubles + Soles?
The current net worth of Baubles + Soles is estimated at $1.5 million. Footwear is a complicated industry, there are many brands that are already sitting in this industry by capturing the big market. It is very difficult for a new brand to be successful in this industry.
Is Baubles + Soles Still In Business?
Baubles + Soles Business was started in 2017 and now this business is also available, but there is no proper information available for the proper growth of the business.
California base The company is headquartered in Headquarter Huntington Beach, California, United States and employs 2-10 people.
Yes, Baubles and Soles are still in business as of June 2023.