Xero Shoes gained nationwide recognition after appearing on the popular TV show Shark Tank in 2013, where Sashen and Phoenix presented their product to a panel of investors in the hopes of securing a deal.
In this article, we will delve into what happened to Xero Shoes after their appearance on Shark Tank and how the company has evolved in the years since. We will explore the challenges that the company faced in the wake of its newfound success, including managing rapid growth and maintaining its commitment to sustainability.
We will also examine the various partnerships and collaborations that Xero Shoes has formed over the years, and how these have contributed to the company’s continued success. Overall, this article aims to provide insight into the journey of a small business that turned a brief moment in the spotlight into a thriving enterprise.
What Is Xero Shoes?
Xero Shoes is a company that designs and sells minimalist shoes that are inspired by the concept of barefoot running. The company was founded in 2009 by Steven Sashen and Lena Phoenix with the aim of creating footwear that promotes natural foot movement and helps people reconnect with their bodies [1].
The appearance on Shark Tank was a turning point for Xero Shoes, as it led to a surge in interest and sales for the company. Despite not securing a deal with any of the investors, the exposure from the show helped Xero Shoes reach a wider audience and gain credibility within the footwear industry. Since then, the company has continued to grow and expand its product line, offering a range of minimalist shoes for various activities such as running, hiking, and casual wear.
In addition to its innovative footwear designs, Xero Shoes also prides itself on its commitment to sustainability and ethical manufacturing practices. The company sources materials from environmentally conscious suppliers and uses recycled materials whenever possible. Xero Shoes also partners with small, family-owned factories in China to ensure fair labor practices and minimize its environmental impact.
About Founders Of Xero Shoes
Xero Shoes is a company that has made waves in the footwear industry for its unique approach to designing minimalist shoes. The company was founded by Steven Sashen and Lena Phoenix in 2009 and has since grown to become a leading brand in the minimalist shoe market [2].
Steven Sashen, who is the CEO of Xero Shoes, has always been passionate about running and has experimented with different running styles and footwear throughout his life. He eventually discovered that running barefoot or in minimalist shoes was the most natural and healthy way to run. This inspired him to create Xero Shoes, which aimed to offer people shoes that mimic the sensation of running barefoot.
Sashen had a successful career as a professional stand-up comedian, but he decided to transition into the footwear industry when he realized that minimalist shoes were the future of footwear. His unique approach to business, which is rooted in the principles of simplicity and transparency, is reflected in Xero Shoes’ design philosophy.
Lena Phoenix, who is the COO of Xero Shoes, is a self-taught web developer and marketer who has played a crucial role in the company’s growth. Phoenix has always been interested in sustainable living and minimalism, and she brings this ethos into Xero Shoes’ approach toward business. Phoenix’s expertise in online marketing has helped the company to reach a global audience and build a loyal community of customers who share their values.
Together, Sashen and Phoenix have built a company that is committed to empowering people to live healthy, active lifestyles. Xero Shoes’ minimalist shoes are designed to encourage people to connect with their bodies, improve their balance and stability, and access the natural benefits of barefoot running.
In addition to offering a wide range of minimalist shoes, Xero Shoes is also known for its commitment to sustainability. The company uses eco-friendly materials and processes to reduce its environmental impact and promote responsible manufacturing practices.
Overall, Xero Shoes is a company that is driven by the passion and vision of its founders. Steven Sashen and Lena Phoenix have created a brand that is synonymous with minimalist footwear and sustainability, and they continue to innovate and inspire others to live a healthier, more active lifestyle. Whether you’re a runner, hiker, or simply looking for comfortable, stylish shoes, Xero Shoes has something for everyone.
The Pitch Of Xero Shoes At Shark Tank
Xero Shoes appeared on ABC’s Shark Tank in February 2013, where co-founders Steven Sashen and Lena Phoenix pitched their minimalist Barefootware shoes to the panel of investors [3].
During their on-air pitch, Sashen and Phoenix highlighted the benefits of their shoes, explaining how they promote good posture, better foot strength, and more natural movement. They demonstrated the flexibility and durability of their footwear, showing how it is possible to roll up the shoes and carry them compactly in a small bag.
The entrepreneurs requested a $400,000 investment in exchange for 8% of their company, giving the business a valuation of $5 million. The Sharks, however, expressed reservations about the valuation, which they felt was too high, as well as concerns about competition in the marketplace. Although Kevin O’Leary made an offer to invest $400,000 for 50% equity in the company, Sashen, and Phoenix turned it down, feeling the offer did not align with their vision for the company [4].
Despite not securing an investment deal on Shark Tank, Xero Shoes experienced a surge in sales and interest following the airing of their segment. In the first week after the show aired, over 2,500 people decided to try Xero Shoes, and the company’s website experienced a huge spike in traffic. The increased exposure and public interest in their brand helped Xero Shoes to secure further funding, develop new products, and continue to grow their business.
In subsequent years, Xero Shoes has grown to become a leading brand in the minimalist shoe market, with a range of products designed to encourage people to connect with their bodies and benefit from the natural advantages of barefoot running. The company has remained committed to its principles of simplicity, sustainability, and transparency, and continues to innovate and inspire others to live healthy, active lives.
Although Xero Shoes didn’t end up securing an investment deal on Shark Tank, their appearance on the show helped to raise awareness of their brand and introduce them to a wider audience. The success of the company serves as a reminder that sometimes, the best deals are those you don’t make and that perseverance and a strong vision can lead to great success.
Xero Shoes After The Shark Tank
After appearing on Shark Tank in 2013, Xero Shoes experienced a surge in sales and public interest, with over 2,500 people trying out their minimalist Barefootwear shoes in the first week after the show aired. Although the company did not receive an investment deal from the Sharks, their appearance on the show helped to raise awareness of their brand and introduce them to a wider audience. Xero Shoes went on to secure further funding, develop new products, and grow its business [5].
As of March 2023, Xero Shoes has become the leading brand in the minimalist shoe market, with a turnover of around $13 million per year, and a range of products designed to help people connect with their bodies and benefit from the natural advantages of barefoot running. The company remains committed to its principles of simplicity, sustainability, and transparency, and continues to innovate and inspire others to live healthy, active lives.
The Net Worth Of Xero Shoes
Xero Shoes On Social Media
Xero Shoes is active on various social media platforms such as Facebook, Instagram, Twitter, and LinkedIn. They primarily use these platforms to share updates about their products, sustainability, and environmental initiatives, and to engage with their followers. Xero Shoes also encourages customers to share their experiences with their products and how they have impacted their lives through their social media channels [7].
The company uses social media platforms to market its products and services rather than creating a specific social network. They invest a lot of resources and time in social media marketing campaigns, as it has been an effective strategy for expanding their target audience and raising brand awareness.
Through social media, Xero Shoes shares stories of customers who have successfully transitioned to barefoot shoes and those who have achieved personal fitness goals with the help of their range of barefoot wear.
Xero Shoes prioritizes sustainability, and this is reflected in the way they use social media. They use their social media channels to raise awareness about their green initiatives and emphasize their commitment to manufacturing eco-friendly shoes.
Another way Xero Shoes uses social media is to engage with its community and listen to customer feedback. They respond to customer queries and concerns and also use social media to conduct surveys and receive suggestions for product development, which they take into account when designing new footwear. They have also implemented influencer marketing on social media platforms by teaming up with influencers who can promote their brand through their networks.
While Xero Shoes does not operate a social network, they use social media platforms to market their products and connect with their customers. By creating a social media presence, Xero Shoes is able to engage with its audience on a more personal level and build a loyal customer base for its brand.
The Current Lineup of Xero Shoes
Xero Shoes has a wide variety of minimalist barefoot shoes, each designed to promote natural movement, foot strength, and good posture. The lineup includes running shoes, casual shoes, sandals, and even hiking boots.
One of their most popular products is the Prio, which is a versatile and durable runner’s shoe. It is made from breathable, vegan-friendly materials and features a wide toe box for natural toe splay. The Prio is zero drops, which means the heel and forefoot are levels, promoting a natural foot strike. It also has a flexible sole that allows for a natural range of motion and encourages better form.
Another popular option is the Hana, which is a casual sneaker that provides the benefits of barefoot walking without compromising style. The Hana is handmade with a durable canvas upper and features a wide toe box for natural foot movement.
Xero Shoes also offers boots for hiking and trail running. The TerraFlex is a lightweight and flexible hiking boot designed for off-road adventures, featuring a non-slip sole and a water-resistant upper. The Mesa Trail is a similar shoe design for trails, but lighter and better for running on dirt paths or technical terrain. Both boots have a zero drop and a wide toe box to promote natural foot movement and better balance.
Overall, Xero Shoes has an impressive lineup of barefoot shoes that cater to various styles and purposes. Each shoe is specifically designed to promote natural movements and help users connect with their bodies in a healthier way. The company places emphasis on producing sustainable and environmentally-friendly products, while at the same time offering high-quality footwear. With their innovative designs, Xero Shoes has helped to reshape the minimalist shoe market and encouraged more people to embrace a barefoot lifestyle.
Alternatives To Xero Shoes:
- Vivobarefoot offers a range of minimalist footwear, including running shoes, sandals, and dress shoes;
- Lems Shoes specializes in minimalist footwear, including shoes designed for hiking, running, and everyday wear;
- The Merrell Vapor Glove is a minimalist running shoe that offers a lightweight, barefoot-like experience;
- Vibram FiveFingers offers a unique minimalist shoe design that separates each toe, allowing for a more natural feel while walking or running;
- Bedrock Sandals offers a range of minimalist sandals designed for outdoor activities, including hiking and water sports;
- Earth Runners offers minimalist sandals designed for outdoor adventures and everyday wear, with an emphasis on sustainability and eco-friendliness;
- Be Lenka offers handmade barefoot shoes made with eco-friendly materials. They have a range of styles for both men and women, including boots, sandals, and casual shoes;
- Wildling Shoes. This German brand creates zero-drop, barefoot-inspired shoes designed for children and adults. Their minimalist shoes are made from natural and sustainable materials and feature a wide toe box for natural foot movement;
- Groundies Barefootwear. This German brand makes zero-drop shoes for men and women, with a focus on minimalism and sustainability. They use eco-friendly materials and have a range of styles for different occasions;
- Softstar Shoes. This American brand creates handmade, minimalist shoes designed to promote natural foot movement and strength. They offer a range of styles for both adults and children, including running shoes, casual shoes, and sandals [9];
FAQ:
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What are Xero Shoes’ annual revenue?
According to a report by Inc. Magazine in 2019, Xero Shoes had an estimated annual revenue of $6.5 million [10].
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Are Xero Shoes made in China?
Xero Shoes has manufacturing partners in China, but they also have production facilities in Europe and the United States. The company maintains that they adhere to strict ethical and environmental standards in all its manufacturing locations.
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Who is the owner of Xero Shoes in 2023?
Steven Sashen is the co-founder and CEO of Xero Shoes, along with his wife Lena Phoenix.
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Was Xero Shoes on Shark Tank?
Yes, Xero Shoes appeared on Shark Tank in 2013, where they secured a deal with investor Daymond John.
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Has Xero made a profit yet?
According to a report by Inc. Magazine in 2019, Xero Shoes was profitable at the time [11].
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What is special about Xero Shoes?
Xero Shoes are known for their minimalist design, which allows for natural foot movement and flexibility. They are also lightweight and made with durable materials. The company promotes a barefoot-like experience while providing protection and comfort.
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Are Xero Shoes waterproof?
Xero Shoes are not advertised as waterproof, but they are designed to be water-resistant and quick-drying.
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Can I wash Xero Shoes?
Xero Shoes can be hand-washed with mild soap and warm water. They should be air-dried away from direct sunlight.
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What is the highest-grossing shoe company?
According to Forbes’ 2021 Global 2000 list, Nike is the highest-grossing shoe company with a revenue of $44.5 billion [12].
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What is the largest shoe brand by revenue?
Nike is currently the largest shoe brand by revenue, according to Forbes’ 2021 Global 2000 list.
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Is Xero still growing?
The company has experienced significant growth in recent years, including expanding its product line and increasing its global reach.
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Are Xero Shoes good for standing all day?
Xero Shoes are designed to provide a barefoot-like experience while offering protection and support. They may be suitable for standing all day for some individuals, but this ultimately depends on personal preferences and comfort levels. It’s always a good idea to try on shoes and see how they feel before committing to wearing them for extended periods.
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Can I wear Xero Shoes without socks?
Yes, you can wear Xero Shoes without socks. The shoes are designed to be worn barefoot, but you can also wear them with socks if you prefer.
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How do I stop my Xero Shoes from smelling?
You can try using a shoe deodorizer or odor-absorbing insoles to help prevent odor buildup in your Xero Shoes. It’s also a good idea to allow your shoes to air out and dry completely after each use.
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Do Xero sandals last?
Xero Shoes are made with high-quality materials and are designed to be durable. However, the lifespan of the sandals will ultimately depend on factors such as frequency of use, care and maintenance, and the specific model of sandals.
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Are Xero Shoes warm?
Xero Shoes are generally lightweight and breathable, which may not provide a lot of insulation in colder weather. However, the company offers some models that are designed for cooler temperatures, such as the Mika and Alpine models.
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Can you run in Xero Sandals?
Yes, Xero Sandals are designed to be versatile and can be used for a variety of activities, including running.
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Where is Xero most popular?
Xero Shoes is a global brand, and its products are popular among people who are interested in minimalist footwear, outdoor enthusiasts, and athletes. The company is based in the United States but has a strong international presence.
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What are the weaknesses of Xero?
Some potential weaknesses of Xero Shoes may include limited sizing options, lack of arch support, and a minimalist design that may not be suitable for everyone.
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Is there anything better than Xero?
There are many other brands of minimalist footwear and sandals available on the market, but Xero Shoes is a popular choice for many people.
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How popular is Xero?
Xero Shoes has a strong following among people who are interested in minimalist footwear and natural movement. The company has grown significantly in recent years, expanding its product line and increasing its global reach.
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Is Xero a small business?
Xero Shoes is a relatively small company compared to larger footwear brands. However, the company has experienced significant growth in recent years and has a global presence.
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Are Xero sandals comfortable?
Many people find Xero Sandals to be comfortable, as they are designed to provide a barefoot-like experience while offering protection and support. However, comfort is subjective, and what works for one person may not work for another.
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Does Xero Shoes have a Black Friday sale?
Xero Shoes typically offers discounts and promotions throughout the year, including during Black Friday and Cyber Monday.
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Are Xero Shoes breathable?
Yes, Xero Shoes are generally designed to be breathable, which helps keep your feet cool and dry during wear.
Useful Video: Xero Shoes Is Dead To Mr. Wonderful | Shark Tank MISSES | CNBC Prime
References:
- https://seoaves.com/xero-shoes-shark-tank-update/
- https://biznewske.com/xero-shoes-shark-tank-net-worth/
- https://insidergrowth.com/xero-shoes-net-worth/
- https://www.sharktankblog.com/business/xeroshoes/
- https://gazettereview.com/2016/09/xero-shoes-update-happened-shark-tank/
- https://www.sharktanksuccess.com/xero-shoes-update/
- https://xeroshoes.com/sandals-barefoot/xero-shoes-on-shark-tank-again/
- https://sharktanktales.com/xero-shoes-shark-tank-update/
- https://www.reddit.com/r/BarefootRunning/comments/o524gs/any_cheaper_alternatives_to_vivobarefoot_shoes
- https://anyasreviews.com/best-barefoot-minimalist-shoe-brands
- https://xeroshoes.com/tying
- https://www.insider.com/barefoot-shoes-comparison-vivo-vibram-xero-2018-5