Forus Athletic Shoes formerly sold lightweight running shoes. Forus Athletics Shoes revolutionized the market by offering lightweight, flexible, and comfortable running shoes.
Forus Athletics is a footwear company that designs and manufactures high-quality athletic shoes. The company emphasizes creating comfortable, stylish, and durable shoes for various sports and activities.
Forus Athletics Shoes are gaining in popularity thanks to their impressive performance on the hit show Shark Tank. These shoes offer superior comfort and style, designed to meet the needs of runners, athletes, and everyday users alike.
The Forus Athletics design uses a minimalist aesthetic for optimal comfort and support. This means each shoe has fewer components than traditional running shoes, making them lighter and more comfortable during intense physical activities like running or playing sports.
They also feature breathable cushioning materials that help keep your feet cool while protecting from impact and wear and tear during physical activity. The rubber outsole ensures traction and stability while running or playing sports.
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.
Forus Athletics shoe 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.
Forus Athletic shoes are lightweight running shoes. Running shoes are bulky and heavy, but Forus Athletic shoes are light and flexible. They offer support and relieve muscular and joint pain.
These running shoes not only provide support but also absorb shocks. These shoes are comfortable and help me eliminate pain caused by muscle and joint stiffness.
They were less than ten ounces. They were lightweight running shoes that weighed less than ten ounces. 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 a 15% stake in Forus Athletics|
|Final Deal||No Deal|
|Shark Who Invested||No Shark|
|Episode Aired||Episode 629|
|Business Status||Out of Business|
|Social Media||Visit Website|
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. Proof Point currently employs him as the Senior Manager of Channel Sales. Millogo’s career has been obscure since Forus’s death.
Forus was born from Millogo’s track experience and desire for durable footwear. Many runners’ shoes did not offer much relief for foot, spine, or calf pain.
Most 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 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 for 15% of their business. Forus produces some comfortable walking, jogging, and fitness shoes.
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 determine the amount of light and air passing through it by exposing it to light.
How Was the Shark Tank Pitch of Forus Athletics?
Joel Vinocur and Arsene Millogo Shark Tank request an investment of $200,000 in exchange for 15% equity in Forus Athletics. They made their first appearance in the 629th episode. Arsene discusses his journey to America and his time running track in college.
Forus Athletics manufacture the shoes at $11 and sells them wholesale for $35 per pair. They conducted most of their business online and generated half a million sales in six months. They anticipate $2.5 million in revenue next year.
Robert Herjavec expressed interest in investing only with fellow Shark Daymond John. However, John refused to invest, and Herjavec followed suit.
Lori stated that she was 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 out. That is why Forus Athletic Shoes was unable to reach an agreement.
Final Deal: No deal between Sharks and Forus Athletics.
Forus Athletics Shark Tank Recap
Forus Athletics, founded by Arsene Millogo, appeared on Shark Tank in Season 6. The company pitched its line of athletic shoes called Forus Polysorb, which they claimed were made from a unique material that offered superior shock absorption, comfort, and durability.
They emphasized that their shoes were lighter, more breathable, and performed better than traditional athletic shoes.
During their pitch, Arsene Millogo and his team showcased their footwear, highlighting the innovative design and technology behind the shoes.
The Sharks showed interest in the product and asked several questions about the company’s sales, distribution strategy, and target market.
However, concerns were raised about the highly competitive nature of the athletic footwear market and the challenges Forus Athletics would face in differentiating itself from established brands like Nike, Adidas, and Under Armour.
The Sharks also had reservations about the company’s valuation and the investment required to impact the market significantly.
Ultimately, the founders of Forus Athletics did not secure a deal with any of the Sharks. The pitch, however, helped generate exposure for the brand and its unique athletic shoe technology.
How Does Forus Athletics Make Money?
Forus Athletics shoes cost between $11 and $13 to produce. They sold the shoe wholesale for between $35 and $50, depending on the region. 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.
Despite collecting money from customers, they have not supplied merchandise or 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 retail shoe specialist Daymond John joined him because, as Herjavec put it, “inventory control is crucial,” which is John’s area of expertise.
On the other hand, John did not invest, nor 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.
Forus Athletics Shark Tank Update
After their appearance on Shark Tank, the specific details about the trajectory of Forus Athletics are limited. While they did not secure a deal with any of the Sharks, the exposure from the show can often lead to the increased public interest and potential growth opportunities for companies.
Sadly, Forus Athletics ceased its operation and went out of business in 2015 unable to compete with the major players of footwear industry.
It is important to note that the athletic footwear market is highly competitive, with established brands like Nike, Adidas, and Under Armour dominating the industry. Forus Athletics faced an uphill battle in carving out a niche for themselves and differentiating their products from those of larger competitors.
Is Forus Athletics Out of Business?
Forus Athletics ceased operations and went out of business 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.
What Is the Net Worth of Forus Athletics?
The valuation of Forus Athletics was $1.33 million when it appeared on Shark Tank. The net worth of Forus Athletics is unknown as of 2023 since the company went out of business in 2015.