Baubles + Soles Shark Tank Update | Baubles + Soles Net Worth

Baubles + Soles is a children’s footwear company featured on Season 11 of the popular entrepreneurial show Shark Tank. The brand’s unique selling point lies in its creation of stylish, comfortable shoes, and adaptable to any occasion or outfit through a patented interchangeable twist-lock mechanism that allows accessories (baubles) to be swapped out easily. 

Baubles + Soles shoes are made from a single mold, so glue and stitching are unnecessary. Combined with a durable, high-quality thermoplastic elastomer (TPE), this design ensures the shoes’ longevity and makes them machine washable, a feature particularly appreciated by busy parents.

The shoes are also recyclable, promoting a sustainable approach to children’s fashion that is increasingly important in today’s market. Baubles + Soles shoes are known for their variety of Baubles.

These baubles, ranging from bows and flowers to more abstract designs, can be easily swapped out thanks to the proprietary twist-lock design, instantly giving the shoes a new look.

This feature allows for customization, providing a fun activity for children while letting parents save money by not having to buy multiple pairs of shoes for different occasions.

Baubles + Soles puts significant emphasis on comfort and safety. The shoes are designed with a slip-resistant sole, ensuring children can play without fear of slipping. The shoes are also made from non-toxic materials free of BPA, phthalates, and other toxic substances.

Baubles + Soles shoes provide children a versatile, durable, eco-friendly footwear solution. Their unique blend of style, comfort, and customization makes them a fantastic choice for parents seeking a practical and fun solution to children’s footwear.

The company’s appearance on Shark Tank has only further solidified its reputation as a brand with a truly innovative and forward-thinking product.

Company NameBaubles + Soles
FounderDuc Nguyen and Lisa Nguyen
BusinessCustomizable bauble-encrusted shoes
Investment Seeking$100,000 for 15% equity in Baubles + Soles
Final Deal$100,000 for 25% equity in Baubles + Soles
SharkDaymond John
Baubles + Soles Episode Season 11, Episode 7
Baubles + Soles Business StatusOut Of Business
Baubles + Soles WebsiteVisit Website
Baubles + Soles Net Worth$0

What Are Baubles + Soles?

Baubles + Soles is a footwear brand founded by a first-time mother, conceived out of frustration at constantly buying new shoes for her fast-growing child. Baubles + Soles’ unique selling point is their patent-pending twist-and-lock mechanism, which allows you to swap baubles to match different outfits.

These collectible baubles are not just functional but also fun, adding an element of joy to the dressing-up process for both children and parents. The brand is aimed at modern parents, offering quality handcrafted, machine washable, slip-resistant, and fully recyclable shoes.

The shoes are crafted with a durable patented plastic blend that can withstand machine washing and dishwashing, providing a practical solution for busy parents. They also offer slip resistance and support for early walkers, with lightweight and flexible one-piece construction for maximum comfort.

Moreover, Baubles + Soles takes pride in its eco-conscious approach. Their shoes are 100% vegan-friendly, made without animal skins or byproducts, and fully recyclable.

Baubles + Soles Shark Tank Update | Baubles + Soles Net Worth

The brand’s commitment to safety is evident in the robust design of its twist lock, which can withstand a 30 lb. pull force and needs two steps to disengage, ensuring that the baubles are secure on little feet.

To change a bauble, one simply needs to place 2-3 fingers inside the shoe under the metal disks, push down on the center of the bauble with the palm, and rotate clockwise until it detaches. This action is similar to opening a medicine cap. The brand recommends ordering a size up to accommodate a child’s growth.

Baubles + Soles also offers a variety of adorable baubles available on Amazon, including Umi Unicorn, Rainbow, Piper Penguin, Preston Panda, Ellie Elephant, Pom Poms, and Max Monkey.

This allows parents and children to customize their shoes with their favorite characters or designs, making each pair unique. Overall, Baubles + Soles aims to make the lives of modern parents easier while ensuring comfort, style, and sustainability for their children’s footwear.

Who Is The Founder Of Baubles + Soles?

Lisa Nguyen, a seasoned professional with a successful fashion industry career, and Duc Nguyen founded Baubles + Soles. A first-generation immigrant, Nguyen pursued her dreams and carved a niche for herself in the corporate world.

She spent more than a decade in the fast-paced fashion sector, gaining a deep understanding of trends, consumer behavior, and supply chain management. The idea for Baubles + Soles was conceived after Lisa became a mother.

When dressing her daughter for different occasions, she was frustrated by the number of shoes her daughter needed, not to mention the speed at which children grow out of them.

As a working mother, she was also concerned about the environmental impact of constantly buying new shoes. 

Inspired by her challenges, Lisa Nguyen used her fashion industry knowledge and entrepreneurial spirit to devise a solution. She came up with a single pair of shoes that could be dressed up or down to match any outfit or occasion, with interchangeable accessories or “baubles.” 

Before appearing on Shark Tank, Baubles + Soles had already made a name in the children’s footwear industry. The company had gained traction locally and online, thanks to its unique product and Lisa’s marketing efforts.

The brand was already stocked in several boutiques and had a strong online presence with positive customer reviews. Their unique concept and commitment to quality and sustainability set them apart in the market.

However, the journey wasn’t always easy. Like many start-ups, Baubles + Soles faced challenges such as raising capital, streamlining production, and expanding their market reach.

The appearance on Shark Tank was seen as a significant opportunity to showcase the brand on a national stage, gain valuable mentorship, and potentially secure a strategic investment to propel the company to new heights.

How Was The Shark Tank Pitch Of Baubles + Soles?

The Baubles + Soles pitch on Shark Tank was an emotional and persuasive showcase of the brand’s potential. Founders Lisa and Luke Nguyen presented their product with both enthusiasm and conviction.

Lisa and Duck appeared on Shark Tank seeking an investment of $100,000 for a 15% stake in their company, placing a value of around $667,000 on their Baubles + Soles.

The Nguyens highlighted the unique selling points of their product – the shoes’ customizability, interchangeability, machine washability, slip-resistance, and the fact that they are entirely recyclable and made in America.

They shared the brand’s backstory and explained how their experiences as parents inspired them to develop the shoe line. Their goal was to address the common issue of children outgrowing or becoming bored with their shoes too quickly, creating unnecessary waste and expense. 

The Sharks were shown the various “baubles” that could be attached to the shoes, creating an almost endless array of styles.

The founders also outlined their sales figures, revealing they had made $150,000 in sales in the last 12 months, with 80% coming from wholesalers and 20% from their company’s website. Their projection for the current year was $300,000 in sales, and they expected a profit of $170,000.

However, the Sharks were initially skeptical. They expressed concern about the competitive nature of the shoe market and the significant marketing, inventory support, and capital investment required to scale such a business.

Despite their concerns, they appreciated the product’s quality, the founders’ story, and the correct valuation presented by the founders.

Lisa Nguyen wasn’t ready to walk away without a deal and assured the Sharks that they could return their investment in two years from profits and revenues made.

Daymond John was impressed with this commitment and made an offer that deviated from the original request. He proposed $100,000 for a 25% stake in Baubles + Soles, increasing the equity ask from the initial 15% but maintaining the cash investment.

Recognizing the value in Daymond’s expertise and the growth potential, Lisa and Luke Nguyen accepted the deal, culminating in a successful Shark Tank pitch.

What Happened To Baubles + Soles After Shark Tank?

Baubles + Soles experienced some significant developments after its appearance on Shark Tank. The founders, Lisa and Duc Nguyen, continued their efforts to grow the company with the benefit of the deal they secured with Daymond John and the increased visibility from the show.

They pushed forward with their innovative, customizable children’s shoes, hoping to gain market share and popularity.

However, the journey proved challenging despite their hard work and initial success. On March 1, 2023, the founders announced on their Instagram page that they were ceasing operations and shutting down the company permanently.

Baubles + Soles Shark Tank Update | Baubles + Soles Net Worth

The reasons for this closure were not specified in the given text, but it indicates that even with the exposure from Shark Tank and the deal with Daymond John, they could not sustain the business in the long term.

This illustrates the harsh realities of entrepreneurship, where even innovative ideas, passionate founders, and exposure on high-profile platforms like Shark Tank are not always enough to ensure business survival.

The complexities of the market, operational challenges, financial issues, or a combination of these factors could have played a role in the unfortunate end to the Baubles + Soles journey.

Is Baubles + Soles Still In Business?

Our research shows that Baubles + Soles went out of business in March 2023 after the founders announced its closure on Instagram. However, you can still find some of their products on Amazon.

What Is the Net Worth Of Baubles + Soles?

According to our research, the net worth of Baubles + Soles is $0 since the company went out of business. The valuation of Baubles + Soles was $600,000 after securing an investment from Daymond John on Shark Tank.

Also, read about other businesses that appeared on Season 11 of Shark Tank:

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