Muvez Net Worth 2024 | Shark Tank Appearance
As of 2024, Muvez net worth stands at $3 million. Muvez stands out for its unique footwear with detachable soles. It allows users to easily transit between indoor and outdoor settings. This allows wearers to switch from outdoor shoes to indoor slippers effortlessly.
Muvez Biography
| Aspect | Details |
| Company Name | Muvez LLC |
| Founders | Eric Cruz, Ryan Cruz, Kevin Zamora |
| Year Founded | 2017 |
| Headquarters | New Jersey, USA |
| Core Product | Footwear with detachable soles |
| Shark Tank Appearance | 2020, Season 11 |
| Shark Tank Deal | $200,000 for 25% equity with Daymond John |
| Initial Valuation | $1.3 million (before deal); $800K (after the deal) |
| Current Net Worth (2024) | $3 million |
| Major Markets | Available in over 50 countries globally |
| Product Lines | Men’s, Women’s, Kids’ footwear; Nurses’ shoes; Socks |
| Notable Achievements | Featured in The New York TimesForbesEntrepreneur |
| Charity Initiatives | Donations to World Health Organization (COVID-19); Shoe donations to healthcare workers |
| Partnerships | NBA athletes, social media influencers |
Muvez Founders: A Simple Background
Ryan Cruz and Eric Cruz, both from New York City. Eric graduated from Fairleigh Dickinson University with a degree in Business and Sports Administration. Ryan earned his bachelor’s degree in Industrial and Product Design from the New Jersey Institute of Technology.
Meanwhile, their co-founder Kevin Zamora, a resident of Carlstadt, New Jersey, obtained two associate degrees in Education from Miami Dade College and Bergen Community College. Kevin also gained valuable work experience during an internship with The Walt Disney Company.
The three eventually came together when Ryan was tasked with a college project to re-imagine an everyday product. This project laid the foundation for their startup, Muvez, and the innovative footwear concept they developed.
Main Product and Innovations
Muvez’s primary product is footwear with detachable soles. The shoes are practical and stylish, which makes them popular globally. People in cities love the idea of switching easily between indoor and outdoor shoes, especially in places with different weather..
Upcoming products
They are also developing new technology, such as heel security, which is pending a patent.
Inspiration Behind Muvez
The idea behind Muvez started when Eric Cruz assisted his brother Ryan with a college project. After noticing how worn-out their father’s mechanic slippers had become, they came up with the concept of footwear that could switch between a shoe and a slipper by using detachable soles. This innovation allowed for easy transitions between indoor and outdoor use.
Growth After Shark Tank
Muvez’s growth trajectory skyrocketed after their Shark Tank appearance. Initially seeking $200,000 for 15% equity, the founders closed a deal with Daymond John for 25% equity. Their unique product concept and innovative footwear desig resolves consumers’ problems.
Significant revenue-Pandemic Era
Three months after their Shark Tank appearance, Muvez’s revenue jumped from $100,000 to $1 million in 2019. This big increase happened partly because many businesses closed during the pandemic, driving more online sales. The founders, Eric, Ryan, and Kevin, packed orders themselves to keep things running smoothly.
Introduces women’s product line
In 2020, Muvez introduced a women’s product line and launched pre-orders for their first women’s shoe, the ‘New Traveler,’ in 2022. They made it easier for customers to buy their shoes by allowing installment payments through Shop Pay.
Partnership with NBA Players
Muvez also partnered with NBA players like Langston Galloway and the Detroit Pistons. Even though they didn’t get a patent for their heel technology, the company still made deals with bigger shoe brands. As of now, Muvez is valued at $3 million, and their shoes are available on their websites and Amazon.
Social Presences
Muvez features stylish and comfortable footwear like convertible house shoes and sneakers. The page connects with customers, sharing product highlights and updates.
At Pinterest, MoveZ focuses on sneaker reviews and creative designs. It’s a visual platform where sneaker lovers can find inspiration and the latest trends in footwear.
Muvez Footwear showcases their unique shoes and engages with over 15.3K followers. The account shares product tips and highlights their appearance on “Shark Tank,” inviting fans to explore new styles.
Muvez’s Expansion into International Markets
After appearing on Shark Tank, Muvez expanded its business globally. The company’s unique shoes with detachable soles became popular in many countries outside the United States. As of 2024, Muvez sells its shoes in over 50 countries around the world.
Online Sales
Muvez mainly sells its products online, making it easier to reach customers anywhere. Muvez take advantage of shopify and amazon to ship products outside the USA instead of establishing their own store.
Influencers and Partnerships
The brand has partnered with athletes and social media influencers in different countries. This helped Muvez attract attention in international markets
Significance of Muvez in international Markets
Europe
Many European customers like Muvez’s shoes, especially in cities where switching shoes between indoors and outdoors is common.
Asia
Muvez has also gained popularity in countries like Japan and South Korea. The brand’s smart design appeals to busy, city-based customers.
Latin America
Muvez has grown in Latin America through partnerships with local athletes and influencers
Conclusion
Muvez, with a net worth of approximately $3 million as of 2024, has expanded into over 50 countries by focusing on online sales, influencer partnerships, and its innovative footwear design that blends comfort, style, and functionality. This global expansion underscores Muvez’s ability to attract international customers with its practical and stylish products. Since its launch, Muvez has leveraged strategic partnerships, including a deal with Daymond John from Shark Tank, to build a strong global presence.
FAQs
1. Who are the founders of Muvez?
Muvez was founded by Eric Cruz, Ryan Cruz, and Kevin Zamora.
2. What is Muvez’s current net worth?
As of 2024, Muvez’s net worth is around $3 million.
3. Where is Muvez located?
Muvez operates out of Jersey City, New Jersey, in the United States.
4. What makes Muvez shoes unique?
The detachable sole design allows wearers to easily switch between indoor and outdoor shoes.