Foot Cardigan is a creative business featured on season 7 of Shark Tank, introducing a novel product to the world of fashion and comfort. Foot Cardigan is a subscription-based service that provides customers with a new, fun, and often quirky pair of socks delivered to their doorstep each month.
Foot Cardigan adds a delightful surprise element to everyday dressing, making it an exciting and memorable purchase or gift. Many different designs are available with the Foot Cardigan, one of its most striking features. The socks are available in various patterns, colors, and themes, catering to various preferences.
From funky animal prints to classic stripes, there’s a design for every taste. Besides the aesthetic appeal, Foot Cardigan emphasizes quality. The socks blend cotton, nylon, and spandex, ensuring durability, comfort, and a snug fit for various foot sizes.
Foot Cardigan is a good choice for multiple reasons. For people who find joy in little surprises, the subscription service brings a dash of unexpected happiness each month.
Foot Cardigan allows individuals to spruce up their wardrobe with vibrant and unique accessories, which can be a conversation starter.
In terms of practicality, the subscription service saves customers the hassle of continuously purchasing new socks and provides a solution for those constantly losing their socks to the mysterious laundry abyss.
Furthermore, Foot Cardigan’s products make for a thoughtful, fun, and useful gift, whether for a birthday, holiday or just because.
Ultimately, Foot Cardigan blends comfort, fashion, and novelty into one product. Their appearance on Shark Tank highlighted their innovative business model, pushing the limits of what a sock company can do.
|Company Name||Foot Cardigan|
|Founder||Bryan DeLuca and Matt McClard|
|Product||Subscription Service for Socks|
|Investment Asking For||$250,000 for 10% equity of Foot Cardigan|
|Final Deal||$250,000 for 20% equity of Foot Cardigan|
|Shark||Troy Carter and Mark Cuban|
|Foot Cardigan Episode||Season 7, Episode 3|
|Foot Cardigan Business Status||In Business|
|Foot Cardigan Website||Visit Website|
|Foot Cardigan Net Worth||$5 Million (As of 2023)|
What Is Foot Cardigan?
Foot Cardigan is a fun subscription-based service that delivers you a new pair of socks every month that are distinctive and imaginative. You can pay monthly or sign up for a 3, 6, 9, or 12-month payment plan.
Foot Cardigan is a well-known company that provides a monthly sock subscription service based in Feetville, USA. With its exceptional range of designs and high-quality materials, Foot Cardigan has become a go-to choice for sock enthusiasts worldwide.
Founded by a group of passionate sock lovers, Foot Cardigan aims to inject creativity and fun into the world of socks. Each month, subscribers receive a delightful package containing a unique and carefully curated pair of socks.
From vibrant patterns to quirky prints, there’s always something to suit every personality and style. Foot Cardigan prioritizes customer satisfaction in addition to providing top-quality socks.
Foot Cardigan subscription service is convenient and hassle-free, allowing members to update their sock collection easily and effortlessly. Whether you’re looking to spice up your wardrobe, surprise a loved one with a fun gift, or add a touch of flair to your everyday outfit, Foot Cardigan has got you covered.
What sets Foot Cardigan apart is its dedication to offering exceptional customer service. Their team goes above and beyond to meet every customer’s sock needs, promptly addressing any queries or concerns.
With their user-friendly website and efficient shipping, getting your feet into a stylish and comfortable pair of socks has never been easier.
Additionally, Foot Cardigan often collaborates with talented designers and artists to create limited-edition collections that showcase unique aesthetics and concepts.
Foot Cardigan has earned a reputation as a market leader in socks because of its commitment to innovation and collaboration.
Overall, Foot Cardigan provides an exciting and personalized sock experience that delights customers month after month. With their extensive assortment of eye-catching designs, exceptional quality, and exceptional service, it’s no wonder they have become a leading brand in sock subscriptions.
Who Is The Founder Of Foot Cardigan?
Bryan DeLuca and Matt McClard co-founded Foot Cardigan. Bryan DeLuca was the company’s CEO at its Shark Tank appearance. DeLuca’s background is quite diverse, with experiences in the entertainment, e-commerce, and retail sectors.
He has a knack for creative entrepreneurship, having previously launched and operated a popular movie-themed website and worked in the shoe industry.
The idea of the Foot Cardigan sprouted from the founders’ belief in creating a product that combines everyday utility with elements of surprise and delight.
They recognized the emerging trend of subscription box services and thought about how they could apply it in a fun and fresh way. While socks might seem like an ordinary clothing item, they realized they could transform them into an exciting and unique gift that all age groups could enjoy.
Before appearing on Shark Tank, Foot Cardigan was already gaining traction. The company began its operations in 2012, and within three years, it had grown considerably.
Foot Cardigan’s early success can be attributed to its unique product offering and engaging marketing strategies. They leveraged the power of social media, humor, and a strong online presence to attract customers and build a loyal customer base.
The company’s growth was steady, but Foot Cardigan gained immense exposure after its appearance on Shark Tank. The show allowed them to pitch to a group of potential investors and introduced them to a vast audience of potential customers.
Despite the early success, the Shark Tank appearance marked a new chapter in Foot Cardigan’s journey, elevating the brand and its offerings to a new level of recognition and customer reach.
How Was The Shark Tank Pitch Of Foot Cardigan?
The Foot Cardigan pitch on Shark Tank was presented by co-founders Bryan DeLuca and Matt McClard. They sought an investment of $250,000 in exchange for 10% equity in their business, valuing their company at $2.5 million.
The co-founders spoke of the mundane chore of sock shopping and the thrill their service offers by delivering a random, high-quality, small-batch pair of socks to subscribers’ mailboxes each month.
At the time of their Shark Tank pitch, Foot Cardigan had impressive numbers: $1.36 million in sales with 6,000 active sock subscriptions.
They also revealed their efficient production and pricing model, where it cost them only about $1.35 to produce each pair of socks, which they sold for $9, not including shipping. The customer acquisition cost was stated to be around $11. These figures impressed the Sharks.
However, the Sharks had different views about the business. Lori Greiner appreciated the novelty but felt Foot Cardigan was not different enough from other sock companies.
Daymond John was interested in domestic production and offered $250,000 for a higher equity stake of 22.5%, suggesting a partnership with his company Bombas.
Kevin O’Leary proposed an offer of $250,000 for 15% equity, expecting quarterly distributions in return.
Guest shark Troy Carter saw the potential for Foot Cardigan as a tech company rather than just a sock business. He believed in providing the company with a strong narrative and offered $250,000 for 15% equity.
Mark Cuban also expressed interest and suggested partnering with Troy Carter, offering $250,000 for 20% equity, and splitting the stake.
DeLuca and McClard agreed to the combined offer from Mark Cuban and Troy Carter, which was $250,000 for 20% equity. Although the deal with Mark and Troy did not close after the show, the Shark Tank appearance helped Foot Cardigan gain significant exposure.
Subsequently, the company was purchased by a Dallas-based holding company and has been reported to make about $4 million annually. The business has continued to thrive despite Bryan DeLuca’s departure in 2018.
Final Deal: Mark Cuban and Troy Carter agreed to invest $250,000 at a 20% stake in Foot Cardigan.
What Happened To Foot Cardigan After Shark Tank?
Foot Cardigan experienced a considerable surge in its business after its appearance on Shark Tank. The show helped the company gain significant visibility and recognition, increasing subscriptions and overall sales.
Although the deal they made on the show with Mark Cuban and Troy Carter for $250,000 in exchange for 20% equity didn’t close, the publicity and validation from the show substantially boosted the company’s growth.
After the Shark Tank appearance, Bryan DeLuca remained the CEO for a while before leaving in 2018 to pursue other ventures. However, this transition did not halt the growth of the Foot Cardigan.
The business was acquired by a prominent Dallas-based holding company, demonstrating the value that the brand and its unique subscription model had created.
As of the most recent update, Foot Cardigan has been thriving, with an annual revenue of about $4 million. The company maintains its unique business model, delivering a random, high-quality, small-batch pair of socks to subscribers’ mailboxes each month.
The Foot Cardigan website is still operational, catering to customers and sock enthusiasts who value the blend of comfort, fashion, and surprise that their socks bring.
Foot Cardigan’s journey post Shark Tank has been a testament to the potential of innovative and fun business ideas, even in seemingly ordinary product categories like socks.
Foot Cardigan Shark Tank Update
After appearing on Shark Tank in Season 7, Foot Cardigan, a sock subscription service, experienced success and growth. During their pitch, co-founders Bryan DeLuca and Matt McClard offered $250,000 for 10% equity.
Mark Cuban and Troy Carter ultimately made a deal with Foot Cardigan, investing $250,000 for 20% equity. Following their appearance on the show, Foot Cardigan thrived as a business. Bryan DeLuca remained CEO until 2018, when he left the company for another opportunity.
A Dallas-based holding company later acquired the company and currently generates approximately $4 million in annual revenue. Foot Cardigan continues to operate and offers a sock subscription service on its website.
The unaired moments of Foot Cardigan’s Shark Tank appearance revealed some interesting details. The co-founders initially hesitated to accept the deal and had discussions about their manufacturing process.
Daymond John suggested producing their socks in the US, and Foot Cardigan expressed their plans to expand into shoes, pending the quality of the samples. Despite these challenges, their appearance on Shark Tank positively impacted them, with increased revenue projections of $2 million to $2.5 million for 2015.
After their appearance on Shark Tank, Foot Cardigan experienced growth, a change in leadership, and an acquisition by a Dallas-based holding company. The company continues to offer a sock subscription service and generates approximately $4 million in annual revenue.
Is Foot Cardigan Still In Business?
Yes, Foot Cardigan is still in business. It is a popular monthly sock subscription service that delivers unique and stylish socks worldwide for men, women, and kids. The company was founded in 2012 by Bryan DeLuca and Matt McClard.
Since its appearance on Shark Tank, Foot Cardigan has experienced significant growth and success. They have shipped over 1,000,000 pairs of socks to more than 30 countries. As of 2023, the company generates approximately $5 million in annual revenue.
Foot Cardigan offers various fun and funky designs focusing on color, comfort, and cheer. In addition to the subscription service, they have a sock store with over 100 designs. They also specialize in creating custom socks for corporate gifts or large groups.
Foot Cardigan continues to operate as a thriving business, fulfilling its mission of providing high-quality and delightful socks to its customers. Interested individuals can visit their website to subscribe to their sock subscription service or shop for fun socks.
What Is the Net Worth Of Foot Cardigan?
According to our research, the net worth of Foot Cardigan is estimated to be $5 million as of 2023. The valuation of the Foot Cardigan was $1.25 million after securing an investment from Mark Cuban and Troy Carter on Shark Tank.
Also, read other businesses that appeared on Season 7 of Shark Tank: