A Lot of people face issues in lack of space to store all of their shoes, especially when they love to have a huge collection of shoes in different styles for different occasions. Additionally, purchasing several pairs of shoes might be costly.
Entrepreneurs Queenie Davis and Andrew Goodrum introduced a clever concept called Boot Illusions to solve these problems. Their invention is a multipurpose shoe system that allows you to easily transform boots into heels with a single adjustment. You could own one pair of shoes with replaceable parts, which would be both useful and fashionable, rather than needing a sizable collection of different pairs.
Queenie and Andrew demanded $100,000 for 50% equity. Their idea was to make shoe storage more straightforward and fashion more accessible to all. So let’s see did the sharks like the product or not and did Queenie and Andrew get the deal?
Boot Illusions Footwear Net Worth 2024
Queenie Davis and Andrew Goodrum asked for a $100k investment in exchange for 50% equity in their company, Boot Illusions. This meant they valued their company at $200,000. They made a deal with Barbara Corcoran for $100k in exchange for 55% of their company. This new deal valued their company at $181,818. However, after the show aired, Boot Illusions faced numerous production challenges and ultimately went out of business. The current net worth of Boot Illusions in 2024 is $0, as the business is no longer operational.
Boot Illusions Footwear Shark Tank Update
After their participation in Shark Tank, Boot Illusions experienced many difficulties. The business had serious problems with production and manufacturing, which made it difficult for them to fulfill orders and keep quality control.
Even with their first success and the agreement reached with Barbara Corcoran, these issues were too great to overcome. Consequently, Boot Illusions finally shut down. The business did not last long enough to benefit from the agreement with Barbara Corcoran, and as of 2024, Boot Illusions was no longer in business.
Yes, Boot Illusions got a deal with Barbara Corcoran as she offered $100,000 for 55% equity. Queenie and Andrew decided to accept Barbara’s offer because they had confidence in her experience and support and expected it would enable them to get through their difficulties.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Barbara Corcoran | $100,000 for 55% equity. | N/A | Yes |
| Daymond John | $100,000 for 75% equity + $0.25 per unit | N/A | No |
| Kevin O’Leary | Out | N/A | N/A |
| Robert Herjavec | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
Boot Illusions Footwear Shark Tank Pitch
Queenie Davis had a dream that gave her an idea for Boot Illusions, which was totally unexpected. When Queenie’s cousin visited her in the dream, she saw her boots and thought they were really beautiful. Her cousin laughed.
She explained to Queenie that these boots are known as “Boot Illusions”. Her cousin then started to unzip and remove the boots, showing Queenie their innovative design that allowed them to transform from boots into a different style of shoe.
Queenie realized she had to make her dream come true since it fascinated her so much. She continued to analyze the concept the next morning and thought that it might be a real product.
During their Shark Tank pitch, Queenie and Andrew introduced Boot Illusions as a unique footwear technology that could transform boots into heels. They asked for $100,000 in exchange for 30% of their company’s shares. They described their business strategy, which included providing customers with an affordable and adaptable footwear option by selling replacement shoe parts.
Queenie explained that the best thing about Boot Illusions is that you can change up your look without having to buy a whole new pair of shoes. Alternatively, you might buy more uppers or the boot’s upper sections.
You can change the way you look without having to buy a whole new pair of shoes by simply attaching these uppers to the base shoe. Boot Illusions are available in a wide variety of designs, colors, materials, and lengths. For any event, there’s an upper, which is classic, fashionable, and unique to fit your style.
Barbara asked Queenie to let her check and touch the shoe as she was concerned about the material and quality of the product. And she was impressed and liked the way it was designed.
Kevin inquired whether they are funding Boot Illusions as a whole or simply the product. Queenie stated that it was a total company investment.
Robert Herjavec questioned the design’s usability and comfort. In response, Barbara Corcoran praised the design and said it looked great.
Mark asked about the investments and partnership. Queenie says that they invested 40,000 and both have an ownership of 50% individually.
Daymond John asked about the price at retail and the cost of manufacturing.
In response, Queenie replied that the production expenses ranged from $25 to $32, retail pricing from $129 to $179, and direct sales from $79.99 to $179.
The Sharks gave Queenie Davis and Andrew Goodrum differing opinions regarding Boot Illusions during their Shark Tank pitch.
Although Barbara Corcoran offered to invest $100,000 for 55% equity. She was confident about Boot Illusions’ future and felt her background would be beneficial to the company’s growth.
Daymond John showed interest as well and offered to pay $100,000 for a 75% stake, but only in Boot Illusions’ technology. He also wanted to be paid a commission on each product sold.
Robert Herjavec said that he lacked enough knowledge about women’s shoes and fashion, thus he decided not to invest. He believed that because he didn’t have much understanding of the market he wouldn’t be a good business partner.
For the same reasons, Mark Cuban also decided not to do any deal. He was not ready to invest in the business since he didn’t feel comfortable investing in a product that was outside of his area of expertise.
Kevin O’Leary didn’t think the business was valued as much as the owners were demanding. He made the decision not to invest because he believed the price to be too high.
Product Availability
Unfortunately, the product is no longer available for purchase as a result of the company’s closure. As of 2024, the business’s website and physical store are no longer active.
Conclusion
Boot Illusions had a bright future ahead of it with a unique idea of a multipurpose shoe system that allows you to easily transform boots into heels with a single adjustment. You could own one pair of shoes with replaceable parts. The company made a great deal at Shark Tank with Barbara. However, production challenges and business management problems stopped the company from long-term success. Despite its agreement with Barbara Corcoran, it did not turn into a profitable business. The company is closed as of today.
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.
