Xero Shoes Shark Tank Pitch
Xero Shoes are for Barefoot runners. The shoe is a high-tech design that is identical to being barefoot while protecting your foot with a thin, but strong layer in between your foot and the ground.
Robert Herjavec runs, so he tries out the Xero Shoes saying they feel great.
Sales for the shoe is over $650,000 in the past two years and they are on track to sell one-million-two-hundred thousand dollars worth for the year.
Xero Shoes Episode Data
- Company: Xero Shoes –Website
- Entrepreneur: Lena Phoenix and Steven Sashen
- Ask: $400,000 for 8% equity
- Episode Season 4 Episode 414
- Companies in this episode:
- First Aired: 01/13/2013
- Deal: No Deal but received an offer from Kevin O'Leary
What do the Shark Tank Investors say about Xero Shoes?
- Mark Cuban – thinks that Steve and Lena should jump on Kevin O'Leary's offer before the bubble bursts and they have too much competition. He is out.
- Daymond John – believes that the competition will come along doing the same thing Steve and Lena have done. That is adding string to a piece of rubber. He is out.
- Kevin O'Leary – makes an offer for $400,000 in exchange for 50% of the company. They decline Kevin's offer, leaving Kevin saying “You are dead to me!”
- Barbara Corcoran – doesn't get the shoe. She is out.
- Robert Herjavec – doesn't agree with the valuation of the company and he goes out.
Xero Shoes after Shark Tank
The company received over 100,000 views on their website and they sold 2,500 pairs of shoes in a short period of time. The company is still marketing the running shoes complete with a 5,000 mile guarantee.