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Baubles and Soles Net Worth

Baubles and Soles Net Worth 2022

Baubles and Soles Net Worth
Baubles and Soles Net Worth

According To uswhispers Baubles and Soles Net Worth $1 million. Duc and Lisa Nguyen founded Baubles and Soles, a children's footwear brand, after firsthand experience with the difficulties of parenting. They provide interchangeable baubles for shoes, allowing the wearer to make them look different every time.

Nguyen is Vietnamese by birth. She fled her homeland with her mother and spent three years in a refugee camp. Lisa studied law at the University of Sydney after they moved to Australia.

Duc is a native of Montreal, Canada, who moved to the United States to pursue a film degree. This aided him in launching his first business, a wedding video production company.

Lisa was in the Philippines at the time, assisting other refugees with legal matters. She eventually relocated to Washington, DC after being hired as the Executive Director of VOICE, a non-governmental organization. She met the love of her life there.

Creating the Company

Lisa and Duc eventually married and had children. The couple was fed up with shopping for children's shoes that they would outgrow in a matter of months. This inspired them to create shoes that didn't need to be replaced every time.

Pitch in Shark Tank

Lisa and Duc appeared on Shark Tank season 11 in 2019, asking for $100,000 in exchange for 15% equity. They were looking for a strategic partner to help them expand in the United States. Currently, wholesale and international distribution account for 80% of current sales.

Because the company was honest, the Sharks admired its product, mission, and valuation. They do, however, operate in a competitive market, and the Sharks were sceptical that it would be profitable in the long run. When all of the Sharks left, things looked bleak, but Lisa refused to give up.

Things changed when she asked if there was a way to de-risk the deal. She was most likely planning a royalty deal. Daymond John jumped back in with a $100,000 offer for 25%. The offer was reasonable in comparison to the initial valuation, so the couple accepted.

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