Muvez Net Worth 2023: How’s The Company Doing After Shark Tank?

Muvez Net Worth

In many cultures, it is a common courtesy to take off shoes before entering the house. But taking your shoes on and off might feel bothersome to some people. This is what inspired Kevin Zamora, Ryan Cruz, and Eric Cruz to come up with Muvez.

Muvez was featured on Shark Tank season 11. These shoes are designed with dual soles, one for indoor wear, and the other for outdoors. The soles can be easily worn and removed without bending down.

Muvez shoes are available in a range of color combinations. It is an innovative product that is both stylish to look at and comfortable to wear. The estimated net worth of the company in 2023 is $3 million.

Who are the founders?

Muvez shoes are the creation of Kevin Zamora, Eric Cruz, and Ryan Cruz. Based on the information available, Eric and Ryan Cruz are brothers. Eric holds a master’s degree in Business and Sports Administration. He acquired his degree from Fairleigh Dickinson University.

Ryan on the other hand, has a degree in industrial and product design. He completed his graduation from the New Jersey Institute of Technology.

While Eric and Ryan are from New York City, Kevin hails from Carlstadt, New Jersey. He has two associate’s degrees from two different places: Bergen Community College and Miami Dade College.

Despite having different career paths, the three came together to develop Muvez.

How was Muvez founded?

After seeing the poor condition of his father’s slippers, Eric conceived the idea of developing footwear with double soles. The Cruz brothers got the raw materials from a local craft store and started working on their design.

Later, they joined forces with Kevin who had experience in launching start-ups. The founder trio finally launched the brand Muvez in 2017. The following year, they generated sales worth of $70,000.

Muvez On Shark Tank

In the hope of expanding their business, the three co-founders landed on season 11 of Shark Tank. They proposed a deal of $200,000 for 15% equity in their company.

The Sharks were impressed by their innovative footwear design. However, they were not interested enough to invest in it. Most of the Sharks backed out, except Daymond John.

He offered them a counter-deal of 33% equity for $200,000. The founders countered the deal with 25% equity for $200,000, and Daymond agreed.

What happened after Shark Tank?

As per reports, the company made four times more revenue after the airing of the Shark Tank episode. The reality show gave a massive boost to the company and helped them survive during the pandemic.

They also launched a new product line for women. For customer’s convenience, the company offers the option for paying in installments.

Recently, the company has partnered with many NBA athletes. Muvez shoes are currently available on Amazon and their official website.

As of 2023, the company’s net worth is around $3 million. It is expected to increase more in the future. The company is trying to get a patent on heel security technology.