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Oct 13, 2024

The Pitch Deck

Muvez Gets a Deal | Shark Tank US | Shark Tank Global

Summary

Product Innovation and Market Positioning

Muvez's dual sole technology offers a unique solution for indoor-outdoor footwear transition, addressing the need for clean floors and comfort in a single product.

The company targets athletes with large social media followings, positioning itself as the go-to post-game footwear and capitalizing on the hygiene factor.

Business Performance and Strategy

Muvez has generated $73,000 in sales since April with minimal marketing spend, primarily through e-commerce and social media, achieving a less than 2% return rate and an average sale price of $110.

The plan to sell outer soles separately at $19-29 (cost: $8) could create a significant revenue stream through customizable products.

Growth Challenges and Opportunities

Despite branding and marketing challenges, Muvez shows strong product-market fit and potential to become a global brand, with support from Lori Greiner and Damion Ross for licensing and manufacturing.

Timestamps

00:00 Muvez pitches for $200,000 for 15% equity to promote their innovative dual sole footwear designed for seamless indoor and outdoor use.

01:37 Muvez showcases a unique shoe design that allows users to easily remove the outer sole for convenience at home.

02:27 Muvez impressed investors on Shark Tank with $73,000 in sales from customizable shoes and innovative design after overcoming factory challenges.

03:56 Muvez aims to revolutionize post-game footwear by leveraging athlete endorsements and emphasizing comfort, convenience, and hygiene.

04:45 Multiple investors express admiration for the product but ultimately decide against investing due to concerns about market challenges and branding difficulties.

06:03 Damon expresses admiration for the shoe design but suggests partnering with Lori for a licensing deal instead of going into business alone.

07:32 Muvez seeks a $200,000 investment for a one-third stake, but counters with an offer for 25% to retain 10% for future opportunities.

08:19 Muvez secures a deal with Damon, believing his support will help them become a global brand.

Transcript

00:00 First into the tank is a new concept in footwear. Hey sharks. My name is ryan. This is my brother eric and my best friend kev and we're the moves team and we're seeking a 200 000 investment for a 15 equity stake in our company sharks. I don't know about you but when guests enter my home and keep their shoes on it drives me crazy. Oh yeah. He gets really really intense about. It shoes bro you're trying dirt bacteria and who else knows what he's right. So for eric. We make sure to wear our slippers we're in the house. They're great and all but if I have to run outside for a quick trip like taking out the trash or walking the dog.I don't have to find my shoes put on sock tie laces. I just want to go. It was up to me. I would leave the house and then come right back choose bro so to fix this comment problem. We created moves footwear moves. Footwear is the only footwear on the market with dual soul technology oh my god so now. Harry can keep his floors clean and ryan could transition to an outdoor shoe in one easy step while he's out and about his moves he's both comfortable and stylish. No one even knows he's in his house slippers. We engineered the moves to hold on tight whether he's walking running or even jumping oh. There it is there it is the coolest thing about having removable outsoles is they're all completely interchangeable now changing. The look and feel of your shoe has never been easier so sharks who's ready to join the movement and help the world move easy wow can we try the music of course thank you guys. We actually set you all up with your own personal pair of movies.

01:37 Can I try so please pull. The tool tab in front of you lift it up yeah robert. We made yours red to match one of your race cars lori. The closest thing we had to white for the queen was carolina blue. No you gave me carolina blue look at this side of the box mark. On the other side um yeah right now we are currently just in the front. We actually named it after you and your team mavericks blue uh carolina black yes damon. Those are our post pipers in the streetwear industry. The all blacks I mean if one of the trucks want to come up and help them demonstrate just like you would kick off your normal shoes like how you use your back yeah. So basically what you want to do is when you come home and you're entering your house. You want to remove the outer sole. So you're going to plant your toes down firmly on the ground step on the back and then clean your normal shoes and then lift forward. There you go there. It is yeah so the back is designed for when you want to move a little bit more um. So. It's it's an elastic kill kind of cool what do you think damon.

02:27 I think they're cool thank you. The design is cool too. We focused very much on the design itself. What do you sell them for 110 and they include shipping and what's your cost to land 26. That's good and what what have you sold so. We've done 73 000 in sales since april with uh practically zero marketing spent online online so basically uh majority of our sales are e-commerce so it goes through our social media channels. What we're doing in the second phase of the business is allowing the customers to buy the outer soles separately right so that you're building your products. So how much does it cost you to make one and what would you sell it. For just the outsole is eight dollars. Eight dollars right and you can sell it for 19 or 29 or whatever yeah that's right so that's where your real money's going to come yeah. But there could be an app. This is cool as hell. This is cool as hell. It's been a really big impulse purchase but the best part about it is.We have a less than two percent return rate tell me about your challenges you had when creating this where do we start uh well. We traveled china twice our first factory after uh financing samples and mold costs and material sourcing. They were about three to four months into it and they told us that the project was impossible. It couldn't be done. It could not be done so we honestly truth be told. We purchased supplies from a um over-the-counter hardware store brought them to our garage in new jersey nice where they casted my foot as a mold and then that was our first proof of concept with rubber power broke baby. That's that's yeah that's all it is it wasn't perfect but for us it was beautiful and it was enough to investors so guys.

03:56 I'm not a slippers guy okay. I'm not a shoes bro household right. How are you going to get to the point where you have enough people where you can sell enough that it matters well. We're hoping to utilize a platform of athletes because they have hundreds of thousands if not millions of followers. Why are athletes attracting big focus to position ourselves as the post-game footwear. But I think that's a different market isn't that like what's athleisure a lot of people actually have indoor slippers and then outdoor slippers. So they'll have their pair of slippers that they only wear in their house. I think that's a new jersey thing people wear slippers outside now so what we're doing is. We're pitching the comfort and convenience. But we're adding functionality and then also capitalizing on the hygiene factor. It's it's different if there's no question about it. It's you walked in here with something we haven't seen before absolutely and when it comes to shoes.

04:45 That's rare but to me. It's not proven yet. I admire what are you talking about to me. This is a tough tough tough business well. I don't find your valuation crazy. I find the wrist crazy. I'm out thanks. I appreciate that thank you guys. My challenge is not the product or design. I think we all loved it up here. I think the branding part of it is going to be really really hard. I wish you all the best because it's a fantastic product. I just don't know how you're going to get to market like that without burning massive amounts of money. I'm out thank you appreciate your feedback yeah guys. I'm kind of in the same boat. It's hard and you guys already know that. And I don't even think it's about the amount of money. It's just it's going to be a slog. I just don't have an angle where I can just walk in and say this is it. And if I don't see that angle that I can just take a hold of and run with it. Then it's just not a deal for me so for those reasons. I'm out. I think it's really quite brilliant um. You know for me as as an impact. It's cool thank you thank you. It's an investment for me so much. I'm just not sure um so the way we see. You. Helping us is definitely with your expertise and qvc and getting us in front of the eyes listen.

06:03 There's so many people that do not want shoes in the house. If you can get another shark here to go in with me. I'll go in and I'm going to leave that to you now oh for sure. That's that's fair damon. You're the only one left oh so damon. I know you have bomba socks. So we we know that as a yeah. I also own the company tonic as well yes a footwork company. But this is a this is a tough one. I love the design. I love the product the ingenuity so I don't want to even insult you with an offer. Three sharks are out. Laurie may be interested in ryan eric and kevin's removable soul shoe company moves but wants to partner with another shark damon. You're. The only one left this is a man. This is a tough one. I love the design. I love the product the ingenuity so I don't want to even insult you with an offer well. Let's hear it um would you be willing to possibly go in with lori offering money is never an insulting never. An insult never never be insulted by money all right. So I'm just letting you know the reason why I would give you. This offer is because surely I would be taking you someplace to license. This. You do not want to do this business yourself. You really don't and that's where we see it for us.

07:32 We're looking for that you know the shark to partner with to get that exit strategy. It would be two hundred thousand for one-third of the company. Hello is laureen on that deal yeah oh yes definitely um lori do you have anything to offer as well. I've not been in the men's footwear space before I think it's more. I just would prefer to have one of the sharks with me on. This damon would have been a great partner but he threw me under the bus yeah yeah it would be. I mean my main goal would be licensing yeah. What do you think of his offer. I think it's a great offer um are you. Gonna take it. No no um. I would like to counter if you're if you're okay with two hundred thousand for twenty-five percent. It's just so that we can have ten percent remaining. In case.

08:19 We run in some a roadblock and we have to raise additional capital and we're in new jersey. We're a stone's throw away from from your headquarters. He's never been to new jersey. He's in manhattan really. But we know we know where your office is yeah. We know your offices is stalking you. I'm just saying but I mean did they risk these people here and they know where you live all right. Let's do it. Let's go let's go congrats guys that's awesome thank you so much good job thank you thank you congratulations. Great shark for you guys definitely good job dj that's a great deal having damon on board. We believe we can be a global brand in a few years. His licensing and manufacturing capabilities will strengthen and accelerate our growth and we couldn't be happier damon is is our dream shark you.