Forus Athletic Shoes formerly sold lightweight running shoes. Forus Athletics Shoes revolutionized the market by offering lightweight, flexible, and comfortable running shoes.
The shoes helped alleviate pain in muscles and joints. The shoes also provided stabilization and stress absorption. They were less than ten ounces in weight.
The company has a reputation for having strong social principles. The company donates 10% of its profits to children’s charities and offers scholarships to deserving students.
The company’s co-founders, Joel Vinocur and Arsene Millogo pitched the business to Shark Tank in 2015.
What is Forus Athletics?
FORUS’s athletic apparel pioneered a new sort of shoe insole. The PolarMax 6 insoles absorb shock, ensuring a secure fit over the entire foot.
The insole is integrated but also removable as part of the Forus series of shoes. Any shoe made with PolstarMax 6 provides comfort, security, and performance.
|Founder||Arsene Millogo and Joel Vinocur|
|Product/Startup||Shock-absorbing running shoes that are lightweight|
|Investment Seeking||$200,000 for 15% stake in Forus Athletics|
|Final Deal||No Deal|
|Shark Who Invested||No Shark|
|Episode Aired||Episode 629|
|Business Status||Out of Business|
Who is the Founder of Forus Athletics?
Joel Vinocur and Arsene Millogo founded Forus Athletics in 2010. Vincour holds a bachelor’s degree in business administration from Robert Morris College.
Attorney Arsene Millogo is a native of West Africa. He is currently employed by Proof Point as the Senior Manager of Channel Sales. Millogo’s career has been obscure since Forus’s death.
Forus was born out of Millogo’s experience on the track and his desire for durable footwear. Many runner’s shoes did not offer much relief for foot, spine, or calf pain.
The majority of running shoes are of low quality, thus inspiring our unique concept. Forus business secured a manufacturing contract thanks to a collegiate link.
The company made a key mistake by launching the product late in the season. The early spring is a great time to introduce new running footwear to the market in preparation for the upcoming running season.
The business officially began operations towards the end of the summer. The shoes have been reordered in all retail locations since the first introduction.
The company also secured endorsement agreements with NASCAR, which led to significant benefits for Forus. Stock management, distribution, and investment resources resulted in the brand’s final demise.
Forus Athletics Shoes Before Shark Tank
Joel Vinocur and Arsene Millogo, the entrepreneurs behind Forus Athletics, are making a beeline for the Shark Tank.
Shark Tank has invited the two entrepreneurs to the show today to ask for $200,000 in return for 15% of their business.
Forus is known for producing some of the most comfortable walking, jogging, and fitness shoes available.
Forus created lightweight, shock-absorbing shoes that were both shock absorbing and breathable. The shoes feature a stable design that is just a tenth of the weight of other shoes, which offers unbreakable support.
The Forus shoe can be used to determine the amount of light and air that pass through it by simply exposing it to light.
How Was the Shark Tank Pitch of Forus Athletics?
Both founders approached Shark Tank in 2015, wanting $200,000 in exchange for 15% equity. They made their first appearance in the 629th episode.
Joel and Arsene enter looking to acquire a 15% stake in their firm for $200,000. Arsene discusses his journey to America and his time running track in college.
They manufacture the shoes at $11 and sell them wholesale for $35 per pair. They conduct most of their business online and generated half a million dollars in sales in six months. They anticipate $2.5 million in revenue next year.
Robert Herjavec expressed interest in investing, but only in conjunction with fellow Shark Daymond John. However, John refused to invest, and Herjavec followed suit.
Lori stated that she is uncertain whether she would collect her funds in this timely manner. As a result, Lori declined to agree.
Mark and Daymond assumed Forus sought to obtain an endorsement through dubious ways when the entrepreneurs stated their desire to collaborate with NASCAR on an endorsement deal.
As a result, Mark is also absent. That is why Forus Athletic Shoes was unable to reach an agreement.
How Does Forus Athletics Make Money?
The shoes cost between $11 and $13 to produce. They sold the shoes wholesale for between $35 and $50, depending on the region.
Several distributors and independent sales agents distributed Forus Athletic Shoes in Taiwan, Holland, and Africa.
The company concentrated on e-commerce and marketing initiatives involving gorillas. Customers gave them positive feedback.
Arsene stated during the Shark Tank show that their sales reached $500,000 in six months. According to the assessment, their sales forecast was 2.5 million dollars.
What Happened To Forus Athletics After Shark Tank?
Forus encountered significant customs issues, resulting in several unfulfilled shipments and disgruntled clients. They continue to accept orders but do not appear to be able to fill them. The Shark Tank Blog is frequently updated with news and follow-ups on entrepreneurs featured on the Shark Tank television show.
Despite collecting money from customers, they have not supplied merchandise and have not updated their social media profiles since October 2015.
It may be prudent to seek out another pair of sneakers, exercise caution when dealing with this firm, and thoroughly read the remarks at the bottom of this page and on this post before placing an order!
Robert Herjavec expressed interest in investing in Forus, but only if fellow Shark and apparel and shoe retail specialist Daymond John joined him because, as Herjavec put it, “inventory control is crucial,” which is John’s area of expertise.
John, on the other hand, did not invest, and neither did Herjavec. Without agreeing, the entrepreneurs exited the Tank.
Following Shark Tank, the Better Business Bureau received concerns about customer service, shipping, and refund issues. The company has ceased operations.
Vinocur joined Oracle as a sales manager following Forus’s closure in October 2015 and is now a manager in corporate sales at Grubhub, according to LinkedIn.
Is Forus Athletics Out of Business?
Forus Athletics ceased operations in 2015. Vinocur began his career at Oracle as a sales manager. He was also enrolled at Harvard Business School, where he studied entrepreneurship.
Millogo also had a side business, Attilio, an email plugin.