Many people find it difficult to choose the ideal pair of shoes that fit various styles and events. Imagine having to buy many pairs of shoes to wear for work, a night out, or even just a casual day because you require comfortable yet fashionable shoes for each of these situations. This can be expensive besides adding to the clutter in your closet.
Dominique McClain Barteet developed One Sole, a line of shoes with replaceable soles, as a solution to this issue. Without having to purchase other pairs, you can switch up the style of your shoes with this easy yet clever idea. Changing out the tops is all it takes to achieve a new look!
In Season 2, Dominique presented this idea on Shark Tank. They asked for $500,000 for 20% equity. Did the entrepreneur get a deal on Shark Tank? Check out our One Sole update to find out!
one sole net worth 2024
Dominique McClain Barteet asked for a $500k investment in exchange for 20% equity in her company. This meant she valued her company at $2.5 million. She made a deal with Daymond John for $500k in exchange for 35% equity, which valued her company at approximately $1.43 million.
After the show aired, One Sole saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of One Sole in 2024 is about $6 million.
One Sole Shark Tank Update
As for a One Sole update, after its appearance on Shark Tank, Dominique’s business, One Sole, grew even stronger. After striking a deal with Daymond John, she expanded her company with the money she received. One Sole is still operating and doing well today. With the expansion of its business, ladies now have access to over 3,000 distinct shoe designs in over 80 countries.
A significant accomplishment for the business was One Sole’s designation as the “Best Products Made in America” by Diane Sawyer on ABC World News Tonight. One Sole is still a major force in the fashion business, as seen by its $6 million yearly income today. The product is offered on their official website, where buyers can peruse the extensive selection of shoe types.
Yes, One Sole could close a deal on Shark Tank. At first, Dominique requested $500,000 in exchange for 20% of her business. After some negotiation, she agreed to Daymond John’s offer, which was $500,000 for 35% stock.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Daymond John | $500,000 for 35% equity | N/A | Yes |
| Robert Herjavec and Kevin Harrington | $500,000 for 50% equity | N/A | No |
| Kevin O’Leary | $500,000 for 51% equity | N/A | No |
| Barbara Corcoran | Out | N/A | N/A |
| Kevin Harrington | Partnership with Robert | N/A | N/A |
One Sole Shark Tank pitch
When Dominique McClain Barteet went shopping one day and purchased the same shoe in three different colors, she had the concept for One Sole. She thought, “What if I could just change the tops instead of buying new shoes?” when she noticed that the shoes’ soles were identical. One Sole originated with this one basic idea.
Dominique encountered difficulties at the beginning of her company, just like any other entrepreneur. She turned to the sharks on Shark Tank for help since she was having problems finding supplies and handling sizable orders on her own.
Dominique boldly debuted One Sole, her line of shoes with removable tops, as soon as she entered the Shark Tank. She gave an example of how the shoe’s style may be modified to suit various events simply by switching out the tops. When Barbara Corcoran tried the shoes on, their comfort, which she also highlighted, won her over.
Dominique outlined her business plan, saying that her shoes brought in over $20 million in revenue from over 2,000 locations in 30 countries. Even with this achievement, she still needed to make an investment to gain resources more effectively and meet the increasing demand. Keep reading our One Sole update to see what happens next!
Kevin Harrington inquired about the shoe’s retail price. The founder replied one shoe with a solid top is $70 to $85 and if you buy a top separately, it will be $12 to $30.
Kevin O’Leary inquired about the sales. She replied she did $20 million in sales in the last four years. The product is sold in 2000 stores and 30 countries.
Kevin O’Leary recommended Dominique buy her items from China in order to cut expenses. Dominique acknowledged that sourcing was difficult, which is why she required the sharks’ help.
Robert Herjavec asked about the figures and enquired about the profitability of the $4 million in sales. Dominique claimed to have a about 30% profit margin.
Robert further inquired about the cost and wholesale price. She responded it cost $18 for a pack of three tops and a pair of shoes. She sells it in the store for $35.
Barbara Corcoran, after trying the shoes on, was thrilled with how comfortable they were.
Daymond inquired about the patents. Dominique said she has two utility patents and two design patents that have been issued. Some other patents are pending. She also revealed that she was trademarked and copyrighted in 98 countries.
Daymond John declared he didn’t want other partners involved and liked the product enough to contribute $500,000 in exchange for 35% equity.
Kevin O’Leary had a larger idea and offered $500,000 in exchange for 51% ownership, but Dominique quickly turned down the offer.
Kevin Harrington and Robert Herjavec made a joint offer of $250,000 for 50% equity.
Barbara Corcoran declined to offer a bid, claiming that she would have to invest an excessive amount of time in the company in order for it to succeed.
Dominique ultimately accepted Daymond John’s $500,000 offer for 35% ownership.
Product Availability
From our One Sole update research, With over 3,000 customization options, One Sole provides a vast array of styles. The product’s detachable tops provide consumers the option to change up their shoe design without having to purchase new shoes, which makes it distinctive. Customers can purchase other shirts besides the shoes on the One Sole website One Sole. The soles cost between $70 and $85 and the replaceable tops cost between $12 and $30.
Conclusion
One Sole, founded by Dominique McClain Barteet, made a significant impression on Shark Tank, landing a deal with Daymond John and expanding further from there. From the first proposal to the last agreement, Dominique showed her enthusiasm and vision for a product that addresses a widespread issue.
One Sole is still in operation today and is a well-liked option for ladies searching for fashionable, cozy, and functional shoes. The brand is still growing, with One Sole items being sold in over 80 countries. As One Sole grows, keep a lookout for developments in the future.
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.
