What Happened to Xero Shoes after the Shark Tank?
What are Xero Shoes?
The original barefoot wear company, Xero Shoes, manufactures lightweight sandals and leisure shoes. The Xero Shoes Company is well-known for manufacturing minimalist shoes with a natural fit, feel, and function that resembles barefoot movement.
Xero Shoes was founded in 2009 by Steven Sashen, with headquarters in Boulder, Colorado, USA. The entrepreneur with a vast list of successes in a wide range of industries. The firm sends its items to clients in 94 countries across the world.
Xero Shoes is a firm with a non-profit arm that sends a pair of shoes to a poor kid in the Philippines for every order made.
Who is the creator of Xero Shoes?
Steven Sashen returned to the sport after a 30-year hiatus. Sashen is a Veterans All-American sprinter, which means he is one of the fastest men in the United States over the age of 55.
After two years of injury-plagued competition, he joined a local barefoot running club in Boulder, CO on the advice of a buddy who handed him a copy of Christopher McDougall’s Born To Run. Running barefoot changed his stride, and his problems improved.
Sashen intended to extend the barefoot experience in places where foot protection was required. Inspired by the Tarahumara Indians of Mexico’s Copper Canyon, he designed his own modern huarache-style sandal.
This original design is now available as the Xero Shoes, with a thin rubber sole-sourced from Vibram in Italy and nylon polypropylene laces.
What Became Xero Shoes on Shark Tank?
Steve and Lena came to Shark Tank asking for $400,000 in exchange for an 8% ownership in the firm, worth $5 million.
He reveals that he has made more than $650,000 in sales in the previous two years and that he expects to make more than $1.2 million in 2012.
Daymond makes a product comment and exits the deal during the presentation. While Kevin O’Leary offers $400,000 for 50% ownership of the firm.
Meanwhile, Barbara, Mark, and Lori pull out of the deal owing to the company’s valuation. Finally, no deal was reached during the pitch with Xero Shoes.
What happened to Xero Shoes after they were rejected by the Shark Tank?
In the seven days after the Shark Tank broadcast, Xero Shoes had a 20 percent increase in sales over the year. Their sales results exceeded the amount they requested for the firm in their Shark Tank pitch.
Xero shoes can also help them choose additional community investors. Following the presentation, a large number of investors approached the business to explore their options.
In December 2020, the company formed a strategic collaboration with TZP Group, a private equity firm.
After years of supporting Xero Shoes’ growth, the business is thrilled to have a partner that has the same goal and has the resources to help the company become a global brand, as well as to allow more people to experience the comfort and benefits of the footwear.
The firm has grown and beyond its sales projections; the company’s yearly revenue is expected to be $13 million in 2021.
Competitors of Xero Shoes
Other brands that compete with Xero Shoes include Naot, Vivo barefoot, OluKai, Lugz, OOFOS, Vegan Wares, Okabashi, and See Kai Run.
Xero Shoes’s net worth
In 2021, the firm was worth at $13 million.
Xero Shoes FAQs
Where is Xero Shoes headquartered?
The headquarters of Xero Shoes is located in Boulder, Colorado.
What is the company’s goal?
In the short-term, Xero Shoes’ primary goal is to grow the firm. The firm has its eyes on the long-term goal of becoming a global brand.
What are the firm’s customer demographics?
In 2021, Xero Shoes has customers in 94 countries and 35 additional countries around the world. The firm’s customer base is generally between ages 25 and 55.
What is Xero Shoes made of?
Xero Shoes are made of high-quality Italian rubber and nylon polypropylene laces.
How many colors does Xero Shoes make?
The firms supply a wide range of colors. The firm’s demographics and the materials of the sandals dictate their color choices.
How many sizes does Xero Shoes product?
The firms make 20 different sizes of sandals.
Who are the target ages of Xero Shoes?
The firms target customers have a median age of 35.
Which countries does Xero Shoes visit?
Xero Shoes visits 53 countries across the world.
How much does a pair of shoes cost?
The average price of a pair of sandals is $59.
What is the warranty on Xero Shoes?
Xero Shoes offers a one-year guarantee on their sandals.
What are the benefits of wearing Xero Shoes?
The solely technology of Xero Shoes gives the wearer more energy, reduces foot fatigue, and increases balance and agility.
What are Xero Shoes made out of?
Xero Shoes’ soles are made out of rubber; laces are made out of nylon polypropylene.
What is the difference between Xero Shoes and alternative brands?
No two Xero Shoes are exactly alike. The sandals come with an interchangeable sole that allows users to change their style by swapping outsole types.
Does Xero Shoes ship?
Yes, Xero Shoes ships its products to customers around the world.
How long does it take for an order to arrive?
Xero Shoes takes four days to ship their orders.
How do I cancel my order?
Contact Xero Shoes at [email protected]
How do I pay for Xero Shoes?
Pay for Xero Shoes by credit card, PayPal, or check.
Can I have a different shipping address?
Customers can have a different shipping address on file than the one on their billing statement.
How long will Xero Shoes last when use?
Xero Shoes are meant for daily use by anyone who wants to try out barefoot running. Xero Shoes will last for more than 10 years.
What is Xero Shoes made out of?
Xero Shoes are made here in America by humans who see a need and fill it with passion and craftsmanship.
How long can I use my Xero Shoes?
Most customers use their sandals for two to six months before they give them away.
How do I remove the sole?
Customers have to thread a needle through the fabric to wet the sole, and then carefully remove it by hand.
Is Xero Shoes recycling?
Customers can recycle their Xero Shoes; the company asks that they send them back to their Boulder, Colorado headquarters.