Many people leave their shoes outside and wear slippers when entering a home. Entrepreneurs Ryan Cruz, Kevin Zamora, and Eric Cruz got tired of this, so they invented Muvez, shoes that can be turned into slippers. After getting a deal on Shark Tank, Muvez is worth $3 million.
The Cruz Brothers & Kevin Zamora
Ryan and Eric Cruz are brothers from New York City. Ryan studied industrial and product design at the New Jersey Institute of Technology, while Eric got a master’s degree in Business and Sports Administration from Fairleigh Dickinson University.
Kevin Zamora is from Carlstadt, New Jersey. He holds associate degrees from Miami Dade College and Bergen Community College and previously interned at The Walt Disney Company.
Although the three initially followed different career paths, they came together after Ryan was tasked with reinventing a common consumer product for a college assignment.
The Inspiration Behind Muvez
Eric was helping his brother Ryan with a school assignment when they noticed how worn out their mechanic father’s slippers were. That sparked the idea for footwear with removable soles, allowing it to switch between a shoe and a slipper.
The Cruz brothers bought materials from a local craft store and began molding early prototypes. Despite Ryan’s professor dismissing the concept, they kept going.
They later teamed up with Kevin, an experienced startup builder, and co-founded Muvez in 2017. A Kickstarter campaign raised $33,873, and within a year the company generated $70,000 in sales
Shark Tank Hype Could be Fading
It is reported that Muvez quadrupled its 2019 revenue of $100,000 just three months after its Shark Tank episode aired. The massive sales boost happened when many non-essential businesses were forced to close due to the pandemic.
This led to Eric, Ryan, and Kevin packing the orders themselves but it still worked out well in the end for them. In 2020, the company launched a product line for women. In 2022, Muvez’s ‘New Traveler’ show is available for pre-order. To help support customers, the company allows customers to pay in installments through Shop Pay.
They have started partnering with several athletes in the NBA, including Langston Galloway and the Detroit Pistons. Currently, the shoes are for sale on their website and on Amazon.
Since 2023, Mucez hasn’t been as active on social media and there are comments from customers on Facebook complaining about delays with receiving orders. On the company’s latest Facebook post from 2024, comments are limited. This isn’t a positive sign for the shoe brand and Women.com reported that their website was offline for a period. Today, products on muvez.net are linking to their Amazon store.
With a current value of $3 million, the company needs to get momentum going in the right direction again or the valuation will drop. Muvez wasn’t able to get a patent on heel security technology and couldn’t pursue licensing deals with larger shoe brands.
Owner Update
Based on Linkedin profile, the founders appear to be also working on other ventures or have full-time jobs. Kevin Zamora co-founded two new businesses – Eat Well Miami and Fusion Fashion Events. Ryan Cruz still works full-time as a graphic designer, potentially Muvez hasn’t been a big enough success for him to give up his day job.
Closing a Deal with Daymond John
In 2020, the aspiring business trio’s request to pitch their product on Shark Tank was accepted. They entered the tank, offering Sharks 15% equity in Muvez for $200,000, valuing the company at over $1.3 million.
The show’s cast admired their specialized footwear as well as how well the trio grew the business in the early stages. However, most of them concluded that the shoe industry is too competitive.
Lori Greiner saw its potential but was a bit hesitant. She proposed doing a deal with Daymond John, but Daymond wanted to go solo with an offer of $200,000 for 33%. The founders of Muvez countered with $200,000 for 25%, and Daymond accepted. The guys were thrilled as it was clear they wanted Daymond on board before the pitch.
