Muvez is a brand that aims to rethink the future of footwear by using removable sole technology as the core of its new ideas.
When they come in, many people leave their shoes outside and put on slippers. Ryan Cruz, Kevin Zamora and Eric Cruz, three entrepreneurs, got tired of this, so they came up with Muvez, shoes that can be turned into slippers.
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Meet the founders
Ryan and Eric Cruz live in New York City and his brothers. Ryan went to the New Jersey Institute of Technology to study industrial and product design, and Eric went to Fairleigh Dickinson University to get his master’s degree in Business and Sports Administration.
Kevin Zamora is from Carlstadt, New Jersey. He has two associate degree programs, one from Miami Dade College and one from Bergen Community College. He also did an internship at The Walt Disney Company.
Initially, the three co-founders had very different jobs. But Ryan’s college assignment to rethink a common consumer item brought them together.
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Set up the business!
Eric chose to help his brother with his homework. When the two boys saw how worn out their mechanic father’s slippers were, they came up with the idea of ​​making shoes where the soles could be removed to make slippers.
The Cruz boys went to a local craft store and bought the materials they needed to make the first version of their product. The idea didn’t go down well with Ryan’s professor, but they didn’t give up.
They teamed up with Kevin, who had already helped start a few companies. In 2017, the three of them helped at the start Muvez. They started a Kickstarter campaign and received a total of $33,873 in donations. After a year, they had sales of $70,000.
How did they appear on Shark Tank?
2020, Shark cage agreed to let the three people who wanted to start a company pitch their product. They went into the tank and offered the Sharks 15% of Muvez for $200,000, bringing the company’s value to over $1.3 million.
The cast of the show loved their unique shoes and how well the three of them grew their business in the beginning. But most came to the conclusion that the shoe business is too heavy.
Lori Greiner thought it might be good, but she was a little unsure. She suggested they make a deal Dagmond John, but he wanted to go it alone and made an offer of $200,000 for 33% of the company. The Muvez founders returned with $200,000 for 25%, which Daymond agreed to. It was clear to the field that the boys wanted Daymond to join them.
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How was Muvez’s business affected after getting a deal from Daymond John in Shark Tank?
Muvez’s $100,000 income in 2019 is said to have increased fourfold in just three months after the Shark Tank episode aired. When many non-essential businesses had to close due to the pandemic, sales went through the roof.
This left Eric, Ryan and Kevin having to pack the orders themselves, but everything worked out for them in the end. The company started making products for women in 2020. In 2022, you can pre-order Muvez’s “New Traveler” show. Through Shop Pay, the company makes it possible for customers to pay for things over time.
They have started with Langston Galloway and the Detroit pistons, among other NBA players. At the moment you can buy the shoes on their website and on Amazon.
From December 2022, Muvez has an estimated net worth of $3 million (Source: Techie gamers). With a current value of $3 million, the company is moving in the right direction. Muvez was unable to patent his heel protection technology. So they couldn’t try to make licensing deals with larger shoe companies.
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