Foot Cardigan: What Happened After Shark Tank

In the vast ocean of e-commerce, one entrepreneurial venture emerged from the depths of Shark Tank to capture the hearts (and feet) of consumers around the world. Foot Cardigan, a subscription-based sock service, entered the tank seeking a strategic partnership and financial backing to scale its quirky and colorful sock empire. 

As the sharks circled, the founders presented their unique business model, and the rest is history. This review delves into the world of Foot Cardigan, exploring its origins, the Shark Tank experience, the subscription model, product quality, customer experience, and the brand’s impact on the sock market.

What Is a Foot Cardigan:

Hailing from Feetville, USA, Foot Cardigan is a renowned establishment specializing in monthly sock subscriptions. Renowned for its extensive array of designs and employment of top-tier materials, Foot Cardigan has cemented its status as the preferred choice for sock enthusiasts globally.

The Subscription Model:

At the heart of Foot Cardigan’s success lies its subscription-based business model. Subscribers receive a new pair of socks each month, featuring eccentric designs that range from pizza slices to polka dots [2]. The allure of surprise and novelty resonates with consumers seeking a departure from mundane sock drawers. The subscription model not only keeps customers engaged but also provides a reliable revenue stream for the company.

The flexibility of subscription plans allows customers to choose the frequency of deliveries and customize their sock preferences. This adaptability caters to a diverse audience, from sock aficionados to those merely looking to inject a bit of quirkiness into their wardrobe. With plans ranging from monthly to annual subscriptions, Foot Cardigan ensures there’s an option for every sock lover.

Sock Quality and Design:

One of the standout features of Foot Cardigan’s product offerings is the diverse range of designs. The designers at Foot Cardigan seem to have an unbridled imagination, producing socks that showcase everything from whimsical animals to pop culture references. This commitment to variety ensures that subscribers are consistently surprised and delighted with each new pair.

The quality of the designs is matched by the quality of the printing and craftsmanship. The colors remain vibrant even after multiple washes, and the seams are well-constructed, preventing uncomfortable rubbing or irritation. While the socks may be playful in design, Foot Cardigan takes the quality of its product seriously, ensuring that customers not only enjoy the aesthetic appeal but also experience lasting comfort.

Pros:

• Unique Concept: The idea of receiving a surprise pair of socks in your mailbox each month is certainly novel. It adds an element of fun and anticipation to something as mundane as buying socks. The idea of turning a necessity into a surprise gift is one of the standout features of Foot Cardigan;
• Quality: The quality of the socks is impressive. They are made from a blend of cotton, nylon, and spandex, providing an ideal balance between comfort, durability, and elasticity. Even after several washes, the socks held up well, retaining their color and shape;
• Designs: Foot Cardigan socks come in a variety of fun, whimsical designs that can add a pop of personality to any outfit. From vibrant patterns to cute animal prints and clever puns, there’s something for everyone;
• Subscription Options: The company offers different subscription plans, including monthly, bi-monthly, and quarterly deliveries, allowing customers to choose a plan that best fits their needs and budget;
• Gift Option: Foot Cardigan also offers gift subscriptions, making it a unique and fun gift option for birthdays, holidays, or any special occasion [4];

Cons:

• Price: While the concept is unique and the quality is good, the price point might be a deterring factor for some. Starting at $ 12.99 per pair (with free shipping in the U.S), it is certainly more expensive than your average pair of socks;
• Lack of Customization: Although the surprise element is part of the fun, it can also be a drawback for those who prefer to choose their styles. There is no option to customize your order or preview the design before it arrives;
• Size Limitations: Currently, Foot Cardigan only offers socks in two size ranges – one for adults and one for children. This may not accommodate all customers, particularly those with larger or smaller feet;
• International Shipping Costs: While shipping within the U.S is free, international customers are required to pay additional shipping fees, which can significantly increase the overall cost;
• Return Policy: Due to the nature of the product, returns are only accepted for defective items. If you simply don’t like the design you received, you’re out of luck;

Who May Benefit From Using?

Foot Cardigan can benefit a wide variety of people with different needs and preferences:

• Sock Lovers: Individuals who have a love for socks, especially those with unique and quirky designs, will find Foot Cardigan appealing. Subscribers receive a random pair of socks each month featuring fun and wacky designs, which can add an element of surprise and excitement to their sock collection;
• Gift Givers: Those looking for a unique, thoughtful gift may find Foot Cardigan’s subscription service an excellent choice. The ability to gift a subscription means recipients can enjoy a surprise delivery each month, making the present last longer than just a one-time event;
• Fashion Enthusiasts: Fashion-forward individuals who view socks as more than just a necessity but as a statement piece to express their style may appreciate Foot Cardigan. In places like Silicon Valley, flamboyantly designed socks are worn as a badge of honor, demonstrating membership in the tech community;
• Convenience Seekers: Individuals who value convenience and dislike shopping for socks regularly may find the subscription service beneficial. The socks are delivered directly to their doorstep, saving them time and effort;
• Subscribers: According to Foot Cardigan’s FAQ page, subscribers receive exclusive benefits like a 20% discount on all individual sock purchases and VIP early access to sales, which may be attractive to frequent shoppers;
• Families: Foot Cardigan offers subscriptions for men, women, and children. Families can subscribe to receive socks for all members, adding a bit of fun to everyone’s wardrobe [5];

About Founders Of Foot Cardigan

In the collaborative venture that is Foot Cardigan, Bryan DeLuca, and Matt McClard stand as the visionary co-founders. Bryan DeLuca assumed the role of CEO during the company’s pivotal Shark Tank appearance, showcasing a background that spans the realms of entertainment, e-commerce, and retail.

DeLuca’s professional journey is marked by a diverse array of experiences, including the successful launch and operation of a prominent movie-themed website and significant contributions to the shoe industry. His multifaceted expertise in creative entrepreneurship sets the tone for Foot Cardigan’s innovative approach.

The genesis of Foot Cardigan traces back to the founders’ conviction in crafting a product that seamlessly merges everyday functionality with elements of surprise and joy. Observing the burgeoning trend of subscription box services, DeLuca and McClard envisioned a novel application – one that could infuse fun and freshness into the concept. Socks, often viewed as mundane attire, became the canvas for an exhilarating and distinctive gift idea, transcending age barriers.

Before gracing the Shark Tank stage, Foot Cardigan had already begun making waves. Its inception in 2012 marked the commencement of operations, and within a mere three years, the company experienced substantial growth. This early success owes itself to the uniqueness of Foot Cardigan’s product offerings and its adept utilization of engaging marketing strategies.

Social media, humor, and a robust online presence played pivotal roles in attracting customers and cultivating a dedicated following [7]. The company’s steady growth trajectory was indicative of its ability to resonate with consumers seeking not just socks but an experience—an element of surprise and delight with each subscription.

While Foot Cardigan was gaining traction, its appearance on Shark Tank catapulted it into a new echelon of visibility and success. The show provided a platform for DeLuca and McClard to pitch to potential investors, exposing them to a vast audience of prospective customers. The exposure and endorsement from the sharks marked a turning point, amplifying Foot Cardigan’s reach and solidifying its status as a player to be reckoned with in the subscription-based service arena.

Despite early accomplishments, the Shark Tank experience served as a catalyst, propelling Foot Cardigan into a new chapter of its journey. The heightened recognition and expanded customer reach elevated the brand beyond its initial success, firmly establishing Foot Cardigan as a household name synonymous with creativity, surprise, and, of course, stylish socks.

The Pitch Of Foot Cardigan At Shark Tank

In a bold and attention-grabbing entrance into the Shark Tank, Bryan and Matt, the ingenious minds behind Foot Cardigan, pitch their innovative sock subscription service. Their charismatic approach involves shedding their pants to reveal the very socks they are pitching, immediately capturing the sharks’ amusement. Describing their service as one that ‘spreads cheer all over the planet one sock at a time,’ they emphasize the element of surprise, with each month delivering a randomly selected pair to subscribers.

Lori takes the lead in the questioning, probing about the business’s duration. The revelation that Foot Cardigan has generated over $ 1.36 million in sales over the past three years piques the sharks’ interest. Guest shark Troy Carter inquires about the subscriber count, learning that Foot Cardigan boasts approximately six thousand enthusiasts [8].

Kevin, ever the money-minded shark, dives into financial details, exploring the ebb and flow of subscriptions. DeLuca and McClard highlight the seasonal nature of their service, with peaks during holidays. They disclose that men are the primary subscribers, a fact that resonates with Lori, who commends their alignment with the trend of quirky sock designs for men.

Daymond seeks specifics on recent sales, and the duo impresses the sharks by revealing $ 900,000 in the last twelve months. A hushed awe follows when DeLuca and McClard express their ambitious goal of reaching $ 1.5 million in the coming year. The revelation that the founders transitioned to a full-time commitment to Foot Cardigan further underscores their dedication.

Daymond delves into the potential for a more selective clientele, asking about the possibility of choosing sock designs. The founders, however, emphasize the positive customer feedback on the randomness, a unique selling point for Foot Cardigan.

Lori, while appreciating the cuteness of the socks, struggles to see Foot Cardigan’s distinctiveness in the market and opts out of the investment opportunity. Daymond, on a lighthearted note, reflects on the uniqueness of giving an offer to entrepreneurs in their underwear. He offers $ 250,000 for a 22.5% equity share, contingent on bringing Bombas, another sock company he invested in, on board.

Kevin counters with a $ 250,000 offer for a 15% equity share, introducing the stipulation of quarterly distributions for shareholders. Troy appreciates the subscription service concept and offers $ 250,000 for a 15% equity share.

The tension rises as Mark Cuban contemplates his move. He sets himself apart by emphasizing the potential growth of the company over a quick return on investment. Mark makes a tempting offer: $ 250,000 for a total of 20%, with 10% equity for both him and Troy Carter.

Without much deliberation, DeLuca and McClard seized the opportunity to partner with Mark Cuban and Troy Carter. The applause from the other sharks signals unanimous satisfaction, and the ecstatic founders exit the tank, overwhelmed by the success of their pitch and the promising partnership ahead.

Foot Cardigan After The Shark Tank

Foot Cardigan experienced a substantial upswing in its business trajectory following its feature on Shark Tank. The exposure and validation from the show played a pivotal role in elevating the company’s visibility and recognition, leading to a notable surge in subscriptions and overall sales.

While the deal negotiated on the show with Mark Cuban and Troy Carter — $ 250,000 for a 20% equity share — didn’t materialize, the impact of the show was undeniably positive [9]. The publicity garnered from Shark Tank catalyzed the company’s growth, far beyond the confines of the proposed deal.

Post-Shark Tank, Bryan DeLuca continued to steer the ship as CEO for a period before stepping down in 2018 to explore new ventures. However, this leadership transition didn’t impede Foot Cardigan’s momentum; rather, the brand continued its upward trajectory.

A significant milestone in Foot Cardigan’s journey was its acquisition by a prominent Dallas-based holding company, underscoring the value the brand and its unique subscription model had accrued in the market.

The Foot Cardigan website stands as a testament to the enduring appeal of the brand, catering to a community of customers and sock enthusiasts who appreciate the fusion of comfort, fashion, and the delightful element of surprise that Foot Cardigan socks bring into their lives.

In reflection, Foot Cardigan’s post-Shark Tank journey serves as a compelling illustration of the potential inherent in innovative and enjoyable business concepts, even within seemingly ordinary product categories like socks.

Customer Experience:

The company’s website and user interface contribute to a seamless customer experience. Subscribers can easily manage their accounts, update preferences, and track shipments with a few clicks. The website also features a user-friendly interface for exploring past designs and discovering the extensive catalog of available socks.

Customer service is another area where Foot Cardigan shines. Prompt responses to inquiries, hassle-free exchanges for sizing issues, and a generally positive and engaging social media presence contribute to a sense of community among subscribers. The company has successfully cultivated a brand identity that goes beyond selling socks; it’s about fostering a sense of fun and camaraderie.

Impact on the Sock Market:

Foot Cardigan’s success extends beyond the confines of its subscription boxes. The brand has made a significant impact on the sock market as a whole, influencing consumer expectations and challenging traditional notions of hosiery. By infusing an element of surprise and whimsy into a seemingly mundane product, Foot Cardigan has paved the way for other sock brands to experiment with bold designs and unconventional marketing strategies.

The success of Foot Cardigan has also highlighted the potential of the subscription model in the retail landscape. Other niche markets have taken note, of exploring the viability of curated subscription services for various products. This shift has not only changed the way consumers shop but has also encouraged businesses to think creatively about how they engage with their customer base.

The Net Worth Of Foot Cardigan

Following their compelling appearance on Season 7 of Shark Tank, Foot Cardigan, the sock subscription service, witnessed significant success and expansion. Co-founders Bryan DeLuca and Matt McClard pitched their innovative concept, offering $ 250,000 for a 10% equity stake.

Mark Cuban and Troy Carter saw potential in Foot Cardigan and struck a deal, investing $ 250,000 for a larger 20% equity share. Post-Shark Tank, Foot Cardigan flourished as a business. Bryan DeLuca, the CEO during their pitch, continued steering the ship until 2018 when he departed for new opportunities.

A Dallas-based holding company later acquired Foot Cardigan, and under its ownership, the company has thrived, reporting an impressive annual revenue of around $ 4 million. Despite changes in leadership and ownership, Foot Cardigan remains steadfast in its commitment to delivering whimsical socks through its subscription service, which customers can access via its website.

Behind the scenes, unaired moments from the Shark Tank episode shed light on additional details. Initially hesitant about accepting the deal, the co-founders engaged in discussions regarding their manufacturing process. Daymond John proposed producing socks in the US, and intriguingly, Foot Cardigan hinted at plans to venture into shoes, contingent on the quality of the samples.

Despite facing challenges, Foot Cardigan emerged from the Shark Tank experience with a positive impact. Their unaired discussions and negotiations with the sharks reflected their commitment to maintaining quality and exploring new avenues for growth. As a result, their revenue projections for 2015 surged, ranging between $ 2 million to $ 2.5 million.

In the aftermath of their Shark Tank appearance, Foot Cardigan’s journey involved notable growth, a leadership transition, and an acquisition by a Dallas-based holding company. Yet, at its core, Foot Cardigan remains true to its roots, offering a whimsical sock subscription service that continues to capture the imagination of customers, contributing to its annual revenue of approximately $ 4 million.

Alternatives To Foot Cardigan:

• Sockwa: Known as one of Swiftwick’s top competitors, Sockwa is another company that delivers socks globally every month. Their offering may be appealing to those looking for different options;
• BooSocki: This is another competitor of Swiftwick and could serve as an alternative to Foot Cardigan. They might offer different designs or subscription plans;
• Dogs’n’Sox: Listed as one of the best alternatives to Small Batch by Foot Cardigan, Dogs’n’Sox could be an excellent choice for dog lovers or those who enjoy quirky sock designs;
• Sock Fancy: Sock Fancy is considered a very similar service to Foot Cardigan. However, it seems that Foot Cardigan offers more subscription customization options compared to Sock Fancy. If customization is not a priority, Sock Fancy could be a viable alternative;
• Keep It Simple Socks: This company offers a range of sock options and can be considered an alternative to Foot Cardigan;
• Stuff You Need Cheap: Another alternative to Small Batch by Foot Cardigan, this option may appeal to budget-conscious shoppers;

FAQ:

1. Is Foot Cardigan still in business?

Yes, as of 2023, Foot Cardigan is still operational and thriving.

2. Who owns Foot Cardigan?

Foot Cardigan was acquired by a prominent Dallas-based holding company. Specific ownership details may have changed, but the brand remains active.

3. What comes in a Foot Cardigan subscription box?

A Foot Cardigan subscription box includes a random, high-quality, small-batch pair of socks. The surprise element is a key feature.

4. How does a subscription box work?

Foot Cardigan’s subscription box operates every month. Subscribers receive a surprise pair of socks each month, and the subscription is easily managed through the website.

5. What is the most expensive cardigan in the world?

While Foot Cardigan specializes in socks, the price of the most expensive cardigan can vary based on designer, materials, and unique features.

6. Why is it called a cardigan?

The term “cardigan” originated from the 7th Earl of Cardigan, James Brudenell, who popularized the style during the Crimean War.

7. How long does a cardigan last?

The lifespan of a cardigan depends on factors such as material quality, care, and frequency of use. A well-made cardigan can last for several years with proper care.

8. Are cardigans on trend in 2023?

Yes, cardigans continue to be a popular and fashionable choice, considered a versatile and timeless wardrobe staple.

9. Who is the richest shark on Shark Tank?

As of 2023, Mark Cuban was considered the richest shark on Shark Tank.

10. Which shark has made the most money from the show?

Mark Cuban is known for making substantial deals on Shark Tank, contributing to his reputation as one of the most successful sharks in terms of investments.

11. Why is Bombas being sued?

Bombas has faced lawsuits for a few reasons:

• Website Accessibility: A class action lawsuit was filed against Bombas alleging that the company’s website was not fully accessible to blind or visually impaired individuals, as it contained barriers to screen-reading software used by these individuals. The plaintiff, Kevin Yan Luis, who is legally blind, claimed that Bombas had violated the Americans with Disabilities Act (ADA) by failing to make its website accessible to those with visual disabilities;
• Data Breach: Bombas faced another lawsuit due to a data breach. Plaintiffs in this class action lawsuit alleged that their payment card information and other personal data were potentially exposed during the Bombas data breach. The company agreed to pay $ 65,000 in penalties for failing to comply with New York state’s data breach notification laws;
• Privacy Lawsuit: Bombas was also subject to a privacy lawsuit that was removed to California Central District Court. The details of the case are not clear from the provided context;

12. Is a subscription box a good business?

Yes, subscription boxes can be a lucrative business model when executed effectively, relying on factors such as product selection, customer engagement, and marketing strategies.

13. Do people still do subscription boxes?

Yes, subscription boxes remain popular, offering convenience and a curated experience for consumers. Many companies across various industries continue to offer subscription box services.

14. How do subscriptions make money?

Subscription businesses make money by charging customers a recurring fee for access to products or services over a specified period, creating a predictable and recurring revenue model.

Useful Video: Shark Tank Behind the Scenes | Foot Cardigan

References:

1. https://sharktankrecap.com/foot-cardigan-update-shark-tank-season-7/
2. https://seoaves.com/foot-cardigan-shark-tank-update/
3. https://gazettereview.com/2016/08/foot-cardigan-update-shark-tank/
4. https://www.footcardigan.com/
5. https://www.forbes.com/sites/emilycanal/2016/09/01/foot-cardigan-inside-the-fancy-footwork-thats-growing-a-2-5-million-subscription-sock-business/
6. https://www.business2community.com/social-buzz/shark-tank-update-foot-cardigan-01635929
7. https://www.dallasnews.com/business/2015/09/30/foot-cardigan-will-be-on-shark-tank/
8. https://kirktaylor.com/foot-cardigan-socks-shark-tank-mark-cuban-troy-carter-deal/
9. https://www.mysubscriptionaddiction.com/b/foot-cardigan
10. https://www.smartcompany.com.au/entrepreneurs/how-bryan-deluca-used-the-element-of-surprise-to-build-multimillion-dollar-sock-subscription-company-foot-cardigan/
11. https://ownersmag.com/foot-cardigan-socks-interview/