Baubles + Soles update
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Baubles + Soles Shoes Update | Shark Tank Season 11

Because kids grow so quickly, it can be a real bummer when they grow out of their stylish shoes. Additionally, finding shoes that fit and go with anything can be a challenge. This is why Lisa and Duc Nguyen created interchangeable baubles for kid’s shoes, allowing them to remain stylish as they grow. Will they get a deal on Shark Tank Season 11? Find out in our Baubles + Soles update!

If you’re short on time, here’s a quick overview of what happened to Baubles + Soles after Shark Tank!

Lisa and Duc Nguyen appeared on Shark Tank Season 11 and left with a deal from Daymond John for $150,000 for 25% equity. In terms of a Baubles + Soles update, the company is no longer in business and shut down on March 1, 2023.

Shark:  Result:
Daymond John Accepted deal of $150,000 for 25% equity
Robert Herjavec No Offer
Kevin O’Leary No Offer
Lori Greiner No Offer
Mark Cuban No Offer

Shark Tank Baubles + Soles Update

Baubles + Soles update

  • Entrepreneurs: Lisa and Duc Nguyen
  • Business: Stylish, interchangeable kid’s shoes
  • Ask: $150,000 for 15% equity
  • Result: $150,000 for 25% equity
  • Shark: Daymond John

Lisa and Duc brought Baubles + Soles to Shark Tank Season 11 Episode 7. The idea for Baubles + Soles is simple, a shoe with attachable, interchangeable ‘baubles’ that can grow with your child.

As a mom, Lisa faced the same problem that many moms face. When her daughter outgrew the most adorable pair of shoes, she wished there was some way to keep the shoe growing with her child.

The desire to have interchangeable decorations that could be moved from shoe to shoe is how the idea for Baubles + Soles was born.

Lisa and Duc shared that the Baubles retail for between $12.95-$16.95, depending on the design. The shoes cost $11 to make and package, and retail for $49.95. Additionally, the wholesale for $25.

Lisa herself has an amazing backstory. She and her mother left Vietnam on a fishing boat when she was a child and spent three years in a refugee camp.

After, she grew up in Australia and began helping refugees pro bono in the Philippines, before eventually moving to America. Duc grew up in Montreal, Canada, and has been an entrepreneur for many years.

The sharks are impressed with their stories, especially to learn that Lisa has come so far since her time as a refugee. However, they are somewhat less impressed by sales for Baubles +Soles.

At the time of filming, the company had done $150,000 in sales, selling most of the product wholesale.

Daymond John is the first to doubt the product, stating that inventory will be a nightmare. Because of this, he is out.

Robert Herjavec is concerned about online sales, so he drops out as well.

Throughout the sharks’ critique of the product, Lisa keeps interjecting stats and information about the company, hoping to entice them back.

Mark Cuban is out because he thinks that the product is too similar to other things on the market.

Kevin O’Leary appreciates the company’s valuation (which is a rare treat), but he doesn’t want to be in the shoe business. He drops out as well, leaving the ball in Lori Greiner’s court.

Lori loves the product and loves Lisa and Duc, however, she is not up for the tough journey the company would have.

Even with all of the sharks out, Lisa still keeps pitching. She even offers to take the investment as a loan. It is this tenacity that draws Daymond back in.

He says she isn’t going to fail and offers her $100,000 for a 25% stake in Baubles + Soles. He feels compelled to be in business with Lisa + Duc, and they accept the offer.

Was this a good investment for Daymond? Find out in our Baubles + Soles update!

We’ve got some bad news to share in our Baubles + Soles update. Lisa and Duc continued to try and grow the company for a few years after Shark Tank Season 11. Sadly, despite these efforts, on March 1, 2023, they announced on Instagram that they were shutting down for good.

This will be our final Baubles + Soles update.

You can find the other company updates from Season 11 Episode 7 below:

Don’t forget to take a look at our Season 11 products page! We’ve got more company updates from Shark Tank Season 11.

 

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Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!