Muvez Net Worth: Who’re The Founders Of Muvez?

Muvez is a brand of footwear that was established in 2016 and is headquartered in New York City. They intend to do this by incorporating contemporary design, functionality, and flexibility into conventional footwear in order to achieve their goal.

The goal of the brand is to design footwear that is both fashionable and comfortable, and that meets the requirements of the lifestyles of the people who wear it.

Muvez was established with the intention of satisfying a demand in the market for forward-thinking and adaptable footwear that could accommodate a variety of lifestyles and activities.

How Much Net Worth?

It is anticipated that Muvez will have a net worth of $3 million by the year 2023.

Muvez’s Net worth before Shark Tank800,000 USD (business valuation)
Muvez’s Net worth 20211 Million USD
Muvez’s Current Net worth 3 Million USD

The company that makes indoor/outdoor slipper shoes is undoubtedly seeing an increase in revenue as a result of the growing brand awareness as well as the COVID precautions that the brand is able to address.

The founders of Muvez presented their company to the panel of investors from Shark Tank with a valuation of $1.3 million. Muvez's valuation was reduced and set at $800,000 as a result of Daymond John's investment of $200,000 in exchange for a 25% equity stake in the company.

What Was Before Shark Tank?

The tradition of taking off one's shoes before entering a home is practiced in a lot of different cultures and homes. However, some people find the process of taking off and putting on their shoes to be too bothersome.

Due to the inconvenient nature of the situation, Eric and Ryan Cruz, two brothers from New Jersey, came up with an ingenious solution.

Their innovation, which they call Muvez shoes, has two separate soles that can be removed: one is designed for rough outdoor use, and the other is designed for comfortable indoor wear.

This makes it easy to switch from using the shoes outdoors to using them inside. In addition to this, Muvez shoes can be purchased in a wide variety of color combinations that are both fashionable and comfortable.

They pursued this goal by making an appearance on the show “Shark Tank,” with the end goal being to attract an investor who would help them market and expand their company so that it would become a significant player in the footwear industry.

Deal In Shark Tank

Fubu Founder Daymond John thought the shoes with the two soles were pretty cool.

Shark Kevin O'Leary, on the other hand, was of the opinion that the risk of investing in a company operating in a challenging market was excessive, and as a result, he chose to withdraw from the competition.

Shark Even Robert Herjavec decided against participating. He predicted that it would be challenging to brand and market athleisure shoes and slippers.

Shark Mark Cuban concurred, stating that he, too, loved the product and appreciated its uniqueness; however, he was aware that marketing the product would require a significant investment of capital.

After offering his best wishes to the three business owners, he decided to withdraw his bid. Only Lori Greiner and Daymond John are still in the competition after three of the Sharks were eliminated.

Greiner conveyed to the original developers of Muvez that she had high praise for the product. On the other hand, she was a little nervous about taking risks, so she wouldn't go through with a deal unless another Shark was involved.

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Success After Shark Tank

muvez net worth

The anticipated increase in revenue was realized by the business following the broadcast of the season 11 finale episode of Shark Tank in April 2020, which featured Muvez.

After only three months from the time the episode was broadcast, the forward-thinking slipper shoe company Muvez was able to successfully quadruple their 2019 revenue of $100,000!

The increase in sales brought on by Shark Tank occurred during the height of the coronavirus pandemic in the United States, at a time when many non-essential businesses were forced to close their doors and consumers turned to online shopping.

In order for Muvez to fulfill its customers' orders, its founders were required to personally pack each package.

As a result of Muvez's increased revenue, he was able to make a contribution to the World Health Organization (WHO). In addition, the corporation gave a gift of five hundred pairs of the First Responder shoes to the Hackensack University Medical Center in the state of New Jersey.

Concerns among customers about the possibility of spreading the COVID-19 virus through their footwear have also increased the number of customers who are interested in the brand.

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As of the month of August in the year 2020, Muvez has increased the number of products it offers to include not only the Women's Muvez line but also two additional colorways for the Original Muvez Slipper for men. On the official company website, slippers by Muvez can still be purchased.

Staying true to its vision, the company also entered the athleisure market by forming partnerships with professional athletes such as the Detroit Piston and Langston Galloway.

It also helped to boost popularity and brand awareness when shoe designer Salvador Amezcua, also known as Kickstradomis, shoe reviewer Tom Finds, and influencer Jesse ‘Filayyyy' Jones all gave positive reviews of the brand's products.

Through the efforts of designer Chris Lavish, Muvez Footwear was also able to participate in New York Fashion Week.

Who're The Founders Of Muvez?

Eric and Ryan Cruz are brothers who were born and raised in New York City. Ryan received his master's degree in Business and Sports Administration from Fairleigh Dickinson University, while Eric earned his degree in Industrial and Product Design from the New Jersey Institute of Technology.

Kevin Zamora hails from Carlstadt in New Jersey and attended Miami Dade College and Bergen Community College to earn his two associate degrees.

Additionally, he has gained experience working as an intern for The Walt Disney Company.

Initially, each of the three co-founders was on a very different professional path.

On the other hand, they were forced to work together when Ryan was assigned a task in college to rethink a conventionally available consumer good.

Cancelling The Deal With Daymond John

2020 saw the acceptance of the three aspiring entrepreneurs' request to present their product on the show Shark Tank. They made their way into the tank and offered the Sharks $200,000 in exchange for 15% ownership of Muvez, putting the value of the company at over $1.3 million.

The cast of the show praised not only their specialized footwear but also the way in which the three entrepreneurs grew the business in its early stages. On the other hand, the majority of them came to the conclusion that the shoe industry is overly competitive.

Lori Greiner recognized its potential but approached it with some reluctance. She suggested that they enter into a partnership, but Daymond John preferred to negotiate on his own and made an offer of $200,000 in exchange for 33% of the business.

Daymond agreed to the terms offered by the founders of Muvez, which were $200,000 in exchange for 25% of the company. The guys were ecstatic because it was abundantly clear that they desired Daymond to join them prior to the pitch.

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What Is The Current Update Of Muvez?

Following Muvez's appearance on Shark Tank, the company put in a lot of effort to broaden its customer base and increase its revenue. The episode initially aired in April 2020, and shortly after it went live,

Muvez immediately sold out, resulting in sales of approximately $400,000 for the company. As a result of this, the company decided to give the World Health Organization a donation of one dollar from each sale they make in order to help fight the pandemic that was sweeping the globe at the time.

The company expanded its product line even further, adding women's and children's footwear to its existing collection, which contributed to the company's continued growth.

The new component garnered a positive reception and turned out to be a successful addition. The corporation had the intention of making a greater contribution to the fight against the Covid-19 epidemic.

One week later, on April 15, 2020, Muvez joined forces with other companies to make a donation to all of the employees working at Paterson University Hospital.

Muvez gave their shoes to the medical staff working long shifts in hospitals during the pandemic so that they would have something to wear during their breaks.

The year was marked by continued expansion and marketing efforts by Muvez, culminating in the addition of a collection of socks with the Muvez brand name in 2021.

As a result of NBA player Langston Galloway promoting Muvez's products, the company's sales were able to increase even further. By the end of the year 2021, Muvez had more than four times as much revenue as it had in the previous year.

At the FedEx Small Business Grant Contest held in 2022, Muvez came out on top, taking first place. These achievements have helped to establish Muvez as a well-known brand in the footwear industry, and the business itself appears to be doing well in the market.

In the year 2023, Muvez is still operating as a company. Since its appearance on Shark Tank, the company has made a significant amount of headway, and in the coming year, it will continue to expand in an even more significant way.

It is anticipated that Muvez's sales and revenue will continue to increase in the foreseeable future as the company continues to add products to its roster. You are able to place an order for the company's products as well as obtain additional information about them here.


In the end, it comes to the conclusion that Muvez has achieved this position with a lot of hard work and will continue to grow further and establish its business worldwide. His net worth has also become more than before, a unique idea in the shark tank has given him a very good position, and he will continue to grow like this.

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