OneSole Shark Tank Update | OneSole Net Worth
OneSole is a footwear product that appeared on Season 2 of the popular TV show Shark Tank and is the brainchild of pharmacist Dominique McClain Barteet. The premise of OneSole is simple yet ingenious: they are versatile shoes with interchangeable tops, allowing consumers to swiftly and conveniently change the look of their footwear without needing to buy multiple pairs.
At its core, OneSole consists of a comfortable, durable sole that can accommodate a variety of decorative tops, which attach securely to the base. This unique design results from Barteet’s desire to travel light without compromising variety.
The shoe tops, which can be easily detached and replaced, come in numerous colors, patterns, and styles, offering a significant degree of customization to match any outfit or occasion.
The soles of OneSole are made from a lightweight, flexible material, contributing to the comfort and convenience of the product. They are designed to mold to the wearer’s foot, providing a customized fit and ensuring comfort for extended periods.
On the other hand, the tops are made from neoprene, ensuring durability and easy maintenance. They are also resistant to dirt and stains, making them ideal for regular use.
OneSole makes a compelling choice for consumers because of its practicality and versatility. They offer a solution to the space and cost concerns associated with owning multiple pairs of shoes and an opportunity for the wearer to express their style through customizable options.
The interchangeability of the tops allows for countless combinations, thus making OneSole a staple in the contemporary, fashion-conscious wardrobe. Furthermore, their commitment to comfort and quality adds value to the product, making it not just a novelty item but a practical, everyday choice for the modern consumer.
| Company Name | OneSole |
| Entrepreneur | Dominique McClain Barteet |
| Product / Business | Interchangeable shoes |
| Investment Asking For | $500,000 for 20% equity in OneSole |
| Final Deal | $500,000 for 35% equity in OneSole |
| Shark | Daymond John |
| OneSole Episode | Season 2, Episode 9 |
| OneSole Business Status | In Business |
| OneSole Website | Visit Website |
| OneSole Net Worth | $2.5 Million |
What Are OneSole Shoes?
OneSole is a shoe brand created by pharmacist Dominique Barteet. It gained popularity after being featured on the hit TV show Shark Tank. These shoes are known for their comfort and versatility, making them a favorite among travelers.
The key feature of OneSole shoes is their interchangeable tops, which allow women to customize their footwear based on their preferences. With thousands of tops and multiple sole options, women can easily switch from dressy to casual in seconds.
OneSole allows women to have multiple shoe looks without taking up valuable luggage space. OneSole is the original interchangeable shoe, offering customers style, comfort, and convenience.
OneSole offers style, comfort, and convenience for travel or everyday wear. They are a versatile and practical choice for women on the go. Despite its outdated website appearance, OneSole is still a thriving business, selling its patented interchangeable shoes for over 20 years.
Who Is The Founder Of OneSole Shoes?
Dominique McClain Barteet is the founder and inventor of OneSole. She holds a degree in pharmacy and worked as a pharmacist before launching her shoe business.
Despite her professional background in pharmacy, Barteet has always harbored an interest in fashion and innovation, which laid the groundwork for her entrepreneurial journey into footwear.
The idea for OneSole was born from Barteet’s frustration with packing for travel. As a frequent traveler, she found it challenging to pack multiple pairs of shoes that could match her different outfits.
She also felt that it was impractical and space-consuming. This sparked the innovative concept of designing a single shoe with interchangeable tops to fit various styles and occasions. This would solve her packing problem and serve millions of others who faced the same dilemma.
Barteet started working on her idea, researching and experimenting with various materials and designs. She finally developed a comfortable, sturdy shoe with easily interchangeable tops.
Barteet started selling her OneSole from the trunk of her car and at local craft shows before deciding to open a store and launch an online site.
Before appearing on Shark Tank, OneSole had gained a significant following and had already experienced reasonable success. The shoes were sold in over 60 countries worldwide and had won awards for innovation.
Despite this, Barteet felt the business could expand further and achieve more significant milestones. Her appearance on Shark Tank aimed to secure an investment to help scale her business operations, boost production, and expand her product line.
The Shark Tank exposure not only allowed OneSole to attract potential investors but also provided a global platform for showcasing the unique features of her product.
How Was The Shark Tank Pitch Of OneSole Shoes?
Dominique McClain Barteet, the founder of OneSole, walked into the Shark Tank looking for an investment to help scale her unique footwear business. She asked for $500,000 in exchange for a 20% stake in her company, effectively valuing OneSole at $2.5 million.
Barteet gave a clear and compelling presentation, showcasing her product’s unique selling points, including its versatility, convenience, and appeal to a wide customer base.
She demonstrated the simplicity of swapping the shoe tops, showing that a consumer could have many different shoe options with just one sole and a few tops.
She also shared the success of her business to date. Before Shark Tank, OneSole Shoes had achieved considerable international success, with products sold in more than 60 countries and over $5 million in sales.
Her business was profitable, and the shoes were sold in some of the largest and most renowned department stores.
The Sharks were impressed with Barteet’s pitch and the success of OneSole to date. They acknowledged the problem Barteet’s product solves, particularly for frequent travelers and those with limited closet space.
However, they also expressed concerns. Some Sharks felt the $2.5 million valuation was too high, given the potential challenges of scaling such a unique product. Others were concerned about the potential for cheap knock-offs, which could flood the market and undercut OneSole’s price point.
Despite these concerns, Daymond John, known for his fashion industry experience with FUBU, saw the potential in OneSole. He was intrigued by the product’s novelty and the proven sales track record.
After some negotiation, Daymond offered Barteet the $500,000 she was asking for, but in exchange for 35% equity, instead of the initial 20%.
Barteet agreed to the deal, marking a successful Shark Tank appearance and gaining a knowledgeable partner to help further grow her business.
Final Deal: Daymond John agreed to invest $500,000 for 35% equity in OneSole Shoes.
What Happened To OneSole Shoes After Shark Tank?
After appearing on Shark Tank and striking a deal with Daymond John, OneSole, under Dominique McClain Barteet’s leadership, experienced substantial expansion and growth in its business.
The exposure and the partnership with Daymond John allowed Barteet to propel OneSole to heights she had not envisioned.
The company’s unique offering of interchangeable shoe tops in over 3000 variations and 20 different sole bases appealed to a wide customer base and saw global acceptance.
OneSole extended its reach to more than 80 countries, and as of 2022, it was reporting an annual revenue of $6 million.
Barteet’s journey and the success of OneSole also opened up opportunities for her to inspire others. She began giving motivational talks, sharing her entrepreneurial journey and success story with budding entrepreneurs.
At one point, Barteet contemplated selling the company and retiring, following a suggestion by Shark Kevin O’Leary. However, the business continued to operate, expanding its product line with the addition of a growing accessory and travel wear business.
Popular items included halter tops, dresses, hoodies, and pre-packaged travel packs, contributing to OneSole’s evolution as a provider of functional clothing.
Barteet maintained her passion for her pharmacy practice, but the operations have shifted and now run out of the rear of the OneSole warehouse. Despite the change, both the pharmacy and OneSole continued to thrive.
Collaboration with other Sharks also occurred, including filming a QVC program with Lori Greiner, who even put her name on the product for selling on QVC. OneSole Shoes remain available for purchase on popular online platforms like Amazon.
Initially valued at $2.5 million during its Shark Tank appearance, OneSole had a reported net worth of $6 million by 2022. This growth trajectory stands as a testament to the success and appeal of OneSole Shoes in the marketplace.
OneSole Shoes Shark Tank Update
Founded by Dominique McClain Barteet, OneSole Shoes appeared on Shark Tank in Season 2, Episode 9, seeking a $500,000 investment for 20% equity. During the show, Barteet impressed the Sharks with the company’s unique concept of interchangeable soles and tops for women’s footwear.
Ultimately, Daymond John offered a deal of $500,000 for 35% equity, which Barteet accepted. However, the deal didn’t go through. Despite the failed deal, OneSole Shoes thrived after its Shark Tank appearance.
OneSole expanded its operations, secured licensing deals, and gained popularity globally. As of 2023, the net worth of OneSole Shoes increased to $6 million, up from $2.5 million at the time of their appearance on Shark Tank in 2022. However, it’s worth noting that the valuation dropped to $1.4 million after Daymond John’s investment offer.
Dominique McClain Barteet, the founder, has successfully grown her business and can consider retirement by selling or licensing the company.
Is One Sole Shoe Still In Business?
Yes, OneSole Shoes is still in business. Founded by Dominique McClain Barteet in 2002, OneSole Shoes offers a unique product that allows women to interchange the color or style of their footwear components.
The brand gained recognition and popularity after its appearance on Shark Tank, where it secured an investment of $500,000 from Daymond John for 35% equity. As of 2023, the company’s net worth was estimated to be $6 million.
OneSole Shoes is known for its adaptability and is particularly popular among travelers, as the interchangeable nature of their shoes allows people to reduce luggage space while having various style options.
The company offers a range of interchangeable sandals and has expanded its presence in retail stores and online. It also secured licensing deals, including one with the NFL.
Despite the founder, Dominique McClain Barteet, continuing her work as a pharmacist, she remains actively involved in the business, designing new interchangeable tops and exploring further opportunities for growth.
What Is the Net Worth Of OneSole Shoes?
According to our research, the net worth of OneSole is estimated to be $2.5 million. The valuation of OneSole was $1.4 million when it appeared on Shark Tank.
Also, read other businesses that appeared on Season 2 of Shark Tank:
