Foot Cardigan Update

Foot Cardigan Update | Shark Tank Season 7

ByAndrew Smith

Bryan DeLuca and Matt McClard, along with two other dads from Dallas, were tired of searching for fun socks in stores with limited choices. In 2012, they started Foot Cardigan, a subscription service that mails people a new pair of colorful socks every month. This makes it easy for customers to get fresh designs without wasting time shopping. Will the sharks back their idea? Let’s get into our Foot Cardigan update and pitch recap to find out.

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

Bryan and Matt entered Shark Tank Season 7, seeking $250,000 for 10% equity in Foot Cardigan. After their pitch, they landed a deal with Mark Cuban and Troy Carter for $250,000 for 20% equity.

In terms of a Foot Cardigan update, the company more than doubled its subscriber base and revenue within 96 hours of the episode airing. The company remained successful, later selling a majority stake to Detail Provisions Co. in 2017.

SharkResult
Mark Cuban and Troy CarterAccepted offer of $250,000 for 20% equity
Kevin O’Leary $250,000 for 15% equity
Daymond John$250,000 for 22.5% equity
Lori GreinerNo offer

Shark Tank Foot Cardigan Pitch

Shark Tank Foot Cardigan Update
  • Entrepreneurs: Bryan DeLuca and Matt McClard
  • Business: Small batch subscription socks
  • Ask: $250,000 for 10% equity
  • Result: $250,000 for 20% equity
  • Sharks: Mark Cuban and Troy Carter

Bryan and Matt step into Shark Tank ready to make a bold statement—literally. They rip off their pants to reveal the colorful, quirky socks that define Foot Cardigan.

Their goal is to secure an investment to scale operations and invest in marketing, allowing them to grow their subscriber base and reach more customers. 

Sock of the Month Club
Fun Sock Subscription Box by Foot Cardigan
  • HIGH QUALITY: Your men’s subscription box socks will be made from high-quality combed cotton, knitted with 200 needles, and offer extra arch support. Basically, they’re the best socks you’ve ever worn. It’s the coziest, best subscription box ever.


Fun Sock Subscription Box by Foot Cardigan
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At the time of filming, Foot Cardigan had 6,000 active subscribers and had generated $1.36 million in sales. These numbers impress the sharks.

The financials are solid. Customer acquisition costs were about $11, and it was only $1.35 landed to produce each pair.

Each pair sold for $9 (shipping not included). Sales in the year before were $900,000.

Daymond John asks if they could manufacture the socks domestically, and Bryan and Matt confirm that they’re open to exploring the option.

Meanwhile, Mark Cuban digs deeper and uncovers their strong tech background. Bryan specializes in conversion optimization and SEO, while Matt focuses on web design.

Mark questions why they haven’t scaled faster, and Bryan explains that they only went full-time on the business a year ago.

Lori Greiner is the first to drop out, saying that while she finds the business interesting, it doesn’t stand out enough from other sock companies.

Daymond offers $250,000 for 22.5% equity, contingent on a partnership with Bombas, another sock company he invested in.

Kevin O’Leary counters with $250,000 for 15% equity, but he wants quarterly distributions, which raises concerns.

Guest shark Troy Carter disagrees with Kevin’s approach, believing that Foot Cardigan is more of a tech company and that distributions wouldn’t make sense.

He offers $250,000 for 15% equity and wants to help build a strong brand narrative.

Mark also wants in, so he offers $250,000 for 20% equity. However, he suggests partnering with Troy and splitting the deal, which Troy agrees to.

Bryan and Matt accept the offer from Mark and Troy, securing $250,000 for 20% equity.

With a deal in hand, let’s see how things turned out for this sock subscription company in our Foot Cardigan update.

Shark Tank Foot Cardigan Update

Our Foot Cardigan update found that while the deal with Mark and Troy never officially closed, the company continued to thrive.

Within 96 hours of its Shark Tank appearance, Foot Cardigan more than doubled its subscriber base and revenue.

In 2017, our Foot Cardigan update research found that the company sold a majority stake to Detail Provisions Co., a Dallas-based holding company specializing in accessory brands.

Bryan remained as CEO for a while but eventually stepped down in 2018 to pursue another venture.

Today, the business generates around $4 million annually.

If we get another Foot Cardigan update we will let you know

Don’t forget to check out our company updates for the other products featured in Season 7 Episode 3.

Before you go, be sure to check out our list of all the Shark Tank Season 7 products. 

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Andrew is a lifelong fan of Shark Tank and an entrepreneur at heart. He started Shark Tank Recap because he wanted a single place to track what happens to the companies, founders, and deals after they air on TV. With a sharp eye for business insights and a passion for all things Shark Tank, Andrew makes sure every recap is accurate, engaging, and fun.