Parents often face difficulties in buying the perfect shoes for their children. Children tend to grow out of their shoes very quickly and that is why parents find it difficult to shop for shoes for their children.
This is the reason behind the foundation of the Baubles and Soles business. The husband-wife duo, Duc and Lisa Nguyen became exhausted when they went to shop for various pairs of shoes for their kids as they grow out of them very quickly before wearing them sufficiently to obtain the worth of their money.
Shoe shopping is indeed very tough for grown-ups. And when you are going to shop for shoes for your kids it becomes more difficult as you have to choose the proper size of the shoes for your children and before understanding anything, you will find that your kids have outgrown them. So, the children gave a lot of shoes that are of no use.
That is why Baubles and Soles were designed to solve this issue. You may customize these Bauble shoes for any event and the parents do not need to buy multiple pairs of shoes. A pair of Bauble Shoes is enough for it.
You may wash the shoes of Baubles and Soles in a machine. They are slip-proof, patent-pending. So, they are completely perfect for children as they can go to the playground as well as a party by wearing the shoes of Baubles & Soles. They just have to change the accessories of the shoe quickly.
Customers can pick the base shoe as per their choice and buy them for their kids and after that, they have to choose a series of baubles from the 20 available options. You just have to change the bauble accessories quickly to change the look of the shoe easily.
Baubles + Soles is an interchangeable shoe company based in California. The husband-wife duo, Duc Nguyen and Lisa Nguyen set up this company in 2017. They at first started to manufacture interchangeable shoes only for children but currently, they are also manufacturing interchangeable shoes for women.
Someone gifted a pair of shoes to their daughter Kaya when she was only 10 months old. There was a red heart on the shoe. Lisa wanted to change the red heart and attract something in place of it. In this way, Baubles and Soles started their journey.
Lisa and Duc came up on the popular television show Shark Tank intending to make a partnership with one of the sharks who would help them to comprehend the American market and develop. They aimed to get an investment of $100,000 in return for a 15% share in their company.
The couple appeared on Shark Tank season 11 episode 7 and appealed to the Sharks to invest $100,000 in exchange for a 15% stake in Baubles and Soles at $666k worth.
Fortunately, one of the sharks named Daymond John proposed to invest $100,000 in Baubles & Soles in return for a 25% equity in the business. Let’s learn the Baubles and Soles’s net worth in detail.
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Baubles + Soles is a company that is popular for selling slip-proof, machine washable and 100% recyclable shoes. A lot of women prefer to buy different types of shoes for their kids as well as for themselves to go to parties or any kind of event.
So, it is obvious that they have to spend a lot of money to purchase shoes only. Interchangeable shoes are the best solution to this issue. If you have interchangeable shoes you will be able to give multiple looks to the same shoe.
If you want to change the look of the shoe you have to attach various baubles into it. These products are available on Amazon and the official website of the company. So, you may buy this shoe from there.
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Lisa Nguyen set up the company Baubles and Soles along with her husband Duc Nguyen. Lisa is also the CEO of the company.
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Duc Nguyen was born in Montreal, Canada. He came to America when he was only 20 years old to pursue his education. He received a film degree. He set up his Wedding Video Production company ten years ago.
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Lisa Nguyen left Vietnam along with her mother on a fishing boat. They stayed in a refugee camp for three years. A lot of people passed away in the sea, but luckily they survived. After that, they settled in Australia and New up. She was admitted to law school. She completed her Master of Laws from the University of Sydney. After that, she served as the Executive Director of “Voice” for 3 years. After that, they shifted to Washington DC.
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How were Baubles and Soles created?
Ultimately, Lisa and Duc got married and they had children. They became exhausted when they went to shop for shoes for kids as they outgrew them within a few months. From this, they got the idea of making shoes that did not need to be changed every time.
Duc and Lisa introduced a slip-proof footwear design. Moreover, you may easily wash them and they come up with interchangeable baubles. Customers have to purchase one base shoe only and they will be able to pair up the base shoe with 20 distinct baubles.
You may click these bauble attachments into the forefoot of the show to change the look of the shoe quickly and easily. The husband-wife duo introduced their business officially in 2017 and they managed to generate $150,000 in sales. The next year, they faced a few inventory issues. That is why they started to look for professional assistance.
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The husband-wife duo, Duc Nguyen and Lisa Nguyen pitched their product in a shark tank and started to depict their business in front of the sharks. They appealed to the shares for an investment of $100k in exchange for a 15% stake in their business.
The manufacturing price of the base shoe with the packaging cost is $11. The retail price of it is $49.95. The wholesale price of the base shoe is $25. Since the beginning, they have managed to earn $150,000 in Baubles and Soles sales as of 2018.
Nearly 80% of the Baubles and Soles revenue comes from wholesale and they are aiming to earn $300,000 in sales in 2019. But unfortunately, all of the sharks refused to invest in the company as they thought the business was not suitable for them.
Finding this, Lisa gets horrified and asks for the shares to derrick the contract. In this way, she encouraged Daymond John to invest $100k in Baubles and Soles in exchange for a 25% stake in the business.
So, finally, Daymond John invested $100k in the business in return for a 25% share in Baubles + Soles.
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As soon as the Baubles and Soles Shark Tank episode was aired the company started to develop. Baubles and Soles after Shark Tank experienced a huge growth in sales. The approximate annual revenue is the firm had crossed $500k as of 2022.
We do not have additional info about the firm currently. When we paid a visit to the website of the company on 16th June 2023, the website was not functional.
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The couple pitched their product on Shark Tank very well. But unfortunately, all of the sharks declined to invest in the company. According to Sharks, the footwear business is not now worthy of investment.
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The current Baubles + Soles net worth is nearly $1.5 million. Footwear is indeed a very tough industry. There are a lot of companies that have already captured the market. So, it is indeed very tough for a new company to become successful in this footwear industry.
The company started its journey in 2017. Currently, the company is active in the business. But we do not have any proper info about the development of the business.
The company is based in California and the headquarters of the company is located in Huntington Beach, California, United States. It has 2-10 workers.
So, as of June 2023, Baubles and Soles are still in business.
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Who can use Baubles and Soles shoes?
A lot of parents often get exhausted from purchasing various pairs of shoes for their children as they outgrow them very quickly before wearing them adequately.
Baubles and Soles allow the parents to buy only one pair of shoes and help them to save their money and offer their children their preferred shoes that can be worn for a long time.
You may also customize the shoes to match any kind of dress by only changing the baubles. For this, you do not need to change the entire shoe of your kids whenever you are going anywhere.
Parents always want to give their kids a kind of shoes that can be worn multiple times and on different occasions. Baubles and Soles are perfect for them.
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Are there any alternatives to Baubles and Soles?
There are a lot of competitors for Baubles and Soles. Some of them are as follows:
- Everything Is Rosey LLC.
- The Darien Sport Shop Incorporated
- Darien News Store, Inc.
- Wiggles & Giggles.
But any company was not able to beat Baubles and Soles as the idea behind the company is unique.
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Baubles and Soles reviews
It is very tough to get the right shoes for your kids only because the kids keep on running around. That is why parents have to buy multiple pairs of shoes for their kids and obtain no worth of their money.
The children outgrow their shoes very quickly and Baubles and Soles introduced the best solution for them. You have to just buy a pair of shoes for your child and you may change its look the number of times you want by using the baubles.
You can customize the shoe for any event and get the full worth of your money from the show as your child will be able to wear it for a long time.
The company has managed to earn $150,000 in sales within only one year and now aims to enhance its revenue to $300,000.
But unfortunately, they faced a few inventory stocking issues and hence they came up on Shark Tank in search of getting a deal. Luckily they were able to impress one of the sharks and secured a deal with him.
The most interesting fact about the shoe is that you may change the appearance of the shoe and match it with various dresses without buying multiple pairs of shoes. Parents find it highly beneficial and the most important part of the shoes is the attachable baubles which help to make the dressing up process fun for the younger ones as well as the parents. You may wash these American-made shoes in the machine. They are slip-proof and completely recyclable.
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What are the advantages of the Baubles and Soles shoes?
The advantages of Baubles and Soles shoes are as follows:
- The patented material of the shoe is strong but soft, lightweight, and adjustable for growing feet.
- There is a peephole for easy slip-on and air vents for breathability and water drainage
- They come up with multiple baubles.
- They are slip-proof, waterproof, and non-toxic.
- They can be washed in the machine and they are dishwasher safe.
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What are the disadvantages of the Baubles and Soles shoes?
The disadvantages of Baubles and Soles shoes are as follows:
- Sometimes you will find it difficult to switch out the bauble twitch lock.
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What is the reason behind the popularity of Baubles and Soles?
The kids find it joyous to wear these shoes. Besides this, the shoe is made up of bio-based material and soy which can be fully recycled.
Moreover, they are resultant to slip, comfortable to wear, and machine washable.
The most important reason behind their popularity is that the baubles can be fitted for any size of the shoe. So, the kids may keep their favourite baubles even when they grow up.
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Did the Shark Tank appearance go through?
Lisa and Duc appeared on Shark Tank to get a partner who will invest $100k in their business in return for a 15% share in their business, Baubles and Soles. They were in search of a person who would assist them to comprehend the market of America better and develop their business all over the U.S.
Finally, Daymond John was ready to invest his money in return for a 25% share. The founders were not able to refuse the proposal
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Baubles and Soles are an outstanding company and have proved themselves as the most effective for parents who do not like to buy multiple pairs of shoes for their kids. The company became more successful after forming a partnership with Daymond John. The company came up as the ultimate saviour to most parents.
Where do you get your Baubles and Soles produced?
Everything on the Baubles and Shoes is produced in the United States besides the straps. The straps are produced in China.
Are Baubles and Soles eco-friendly?
Yes, Baubles and Soles are eco-friendly as they are produced from natural products.
Was it a deal?
Yes, they managed to make a deal with Daymond John.