1587 Sneakers Update | Shark Tank Season 16

Asian Americans are often labeled as follower consumers in the sneaker industry despite their strong influence on sneaker culture. Sam Hyun and Adam King created 1587 Sneakers to break this stereotype by producing culturally significant footwear that honors Asian American history. Their sneakers not only challenge perceptions but also offer high-quality craftsmanship with meaningful design. Will the sharks get behind this bold cultural statement? Let’s dive into our 1587 Sneakers update and pitch recap to find out.

If you’re short on time, here’s a quick overview of what happened to 1587 Sneakers after Shark Tank.

Sam and Adam appeared on Shark Tank Season 16 to pitch 1587 Sneakers, seeking $100,000 for 15.87% equity. Unfortunately, the sharks declined to invest and expressed concerns about the company’s valuation and production costs. So, the entrepreneurs left without a deal.

In terms of a 1587 Sneakers update, the company’s online community grew following their Shark Tank appearance. Furthermore, they launched the Yellow Thread Sneaker series in response to community demand.

Shark	Result
Rasahun Williams	No offer
Kevin O’Leary	No offer
Lori Greiner	No offer
Barbara Corcoran	No offer
Mark Cuban	No offer

Shark Tank 1587 Sneakers Pitch

• Entrepreneurs: Sam Hyun and Adam King
• Business: Sneaker Brand
• Ask: $100,000 for 15.87% equity
• Result: No Deal
• Sharks: None

Sam and Adam stepped on Shark Tank with a clear goal: to reshape sneaker culture within the Asian American community.

They asked for $100,000 in exchange for 15.87% of their company to defray the cost of their manufacturing transition from Italy to Asia.

This move would help them scale operations and possibly expand into retail.

1587 Sneakers celebrates Asian American pride with designs like the Morrow Bay and AP87, crafted from premium materials like leather and natural rubber.

Initially made in Italy, their direct-to-consumer model is transitioning to Asia to reduce costs, allowing them to grow while maintaining quality.

Although they started by focusing on the Asian American sneaker community, 30% of their customers now come from outside this group.

Moreover, customers can purchase directly through their website and even customize orders.

What sets 1587 Sneakers apart is their combination of luxury footwear and a story of cultural representation, which resonates in a crowded market.

Previously, the cost of manufacturing each sneaker in Italy was $110, and the retail price was $288, offering a profit margin of around 61.81%.

After moving most of the production to Asia, the cost dropped to $50, and the sneakers now retail at $175, pushing their profit margin to 71.43%.

In their ten months of operating, they have made $240,000 in sales, with a projected $500,000 for the year 2024.

Their customer acquisition cost sits at $45, while the average purchase is $170.

Although Sam and Adam hadn’t signed any major retail deals, they focused their efforts on growing direct-to-consumer sales.

They planned to use the shark’s investment to support their expansion into retail.

Lori Greiner says she’s not interested in the business because she’s not personally into sneakers and that this wasn’t the right deal for her.

She’s the first shark to exit the negotiations.

Kevin O’Leary says the industry is highly competitive, and expanding into retail would be a mistake. He also withdraws from the deal.

Guest shark Rashaun Williams mentioned that there were too many points of failure between the business’s current state and its future success.

He specifically noted concerns about the lack of traction and community, so he decided to exit the deal.

Daymond John says he’s concerned about their inventory management and was not willing to take that journey. He’s out.

Mark Cuban suggested that the entrepreneurs focus on direct-to-consumer (DTC) sales rather than expanding into retail.

Despite this advice, he declined to invest as well.

In the end, Sam and Adam left without a deal.

Let’s see what the Asian duo are up to since their Shark Tank appearance in our 1587 Sneakers update.

Shark Tank 1587 Sneakers Update

Since its appearance on Shark Tank, 1587 Sneakers has seen growth in both its community and product offerings.

Our 1587 Sneakers update found that shortly after their episode aired, their Instagram followers increased from 7,000 to over 8,000 followers.

Furthermore, Sam and Adam also appeared on MSNBC to discuss their experience on the show.

Shortly after their episode was filmed, in response to demand, they introduced the Yellow Thread Sneaker series in September 2024.

This new line, priced at $188, is produced in Asia. However, it retains the same high-quality materials as its European-made sneakers, such as the AP87s and Morro Bay Golden Panda, which are priced at $288.

Just a few weeks before their Shark Tank airing in September 2024, the brand received recognition for its community impact.

The Asian Corporate & Entrepreneur Leaders honored them with the Community Partnership Appreciation Award.

The following month, in October 2024, our 1587 Sneakers update found that the company launched the FAHM Bayan Box Shirt to celebrate Filipino American History Month.

The design, led by designer Jose Antonio Vargas, was inspired by Filipino culture and the Kenkoy comic art.

Co-founder Adam King took to his Instagram page to express the company’s vision of expanding beyond footwear and apparel.

Additionally, Adam aims to use the 1587 Sneakers logo on a wide range of products, such as computers and water bottles, to bring Asian culture further into mainstream markets.

We can’t wait to bring you our next 1587 Sneakers update.

For more updates from Shark Tank Season 16 Episode 1, be sure to check the links below:

• Little Saints Update
• TRUFIT Customs Update
• Card.io Update

Before you go, be sure to check out our list of all the Shark Tank Season 16 products.