When individuals enter a home, they often leave their shoes outside and switch to slippers as soon as they enter the house. Eventually, Ryan Cruz, Kevin Zamora, and Eric Cruz got tired of this, so they created Muvez, which is a shoe that can be transformed into a slipper with the help of a zipper.
Establishing The Company (Muvez):
As a result of Eric’s offer to assist his brother with his assignment, they came up with an innovative idea that was ultimately successful. They created a shoe that can be transformed into a slipper by using removable soles after they noticed their mechanic father’s slippers were wearing out.
Despite their professor’s disapproval, the Cruz brothers procured materials from a neighbourhood craft store and made a prototype of their product using materials they purchased from the store.
As a result, they enlisted the help of Kevin, a startup launch specialist with extensive experience, to co-found Muvez in 2017. During their first year of operation, they raised $33,873 from a Kickstarter campaign and sold $70,000 in merchandise.
As two young men from the city of New York, Ryan Cruz and Eric Cruz pursued different paths in academic pursuits.
While Eric is a graduate of Fairleigh Dickinson University with a degree in Business and Sports Administration, Ryan attended the New Jersey Institute of Technology for his bachelor’s degree in Industrial and Product Design.
The lifelong resident of Carlstadt, New Jersey, Kevin Zamora, has obtained two associate degrees in education, one from Miami Dade College and the other from Bergen Community College, all from the University of New Jersey.
It was during his internship with the Walt Disney Company that he gained work experience.
As the three co-founders each had their professional paths, they eventually crossed paths when Ryan was assigned a college project to re-imagine an ordinary consumer product from the point of view of a startup.
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It is common etiquette for households and cultures to remove shoes before entering a home, but for some people, the hassle of taking off and putting on footwear is too much of an inconvenience for them.
A clever solution was devised by Eric and Ryan Cruz, brothers from New Jersey, to solve this unavoidable inconvenience.
Because of this, Muvez shoes feature two detachable soles – one for rugged outdoor use and the other for cosy indoor wear – with such a unique design that it makes switching between outdoor and indoor use effortless and fun.
It is also possible to find Muvez shoes in a variety of stylish colour combinations, providing you with both comfort and fashion at the same time.
By appearing on Shark Tank, they pursued their next objective, which was to secure an investor that would assist them in expanding and promoting their business into an important player in the footwear industry, which was the next objective they had in mind.
Muvez Net Worth:
Muvez, the innovative footwear brand, achieved a remarkable milestone in 2024 by securing a deal on the popular television show Shark Tank. Following this pivotal moment, Muvez’s net worth soared to an impressive $3 million, marking a significant leap in its valuation.
This success story highlights Muvez’s ability to captivate both investors and consumers with its unique indoor-outdoor footwear offerings. Through strategic partnerships and a commitment to excellence, Muvez continues to solidify its position as a frontrunner in the footwear industry.
Just three months after their Shark Tank episode aired, Muvez’s revenues jumped by an astounding fourfold from $100,000 in 2019 to $1 million in 2019 just three months after their Shark Tank episode aired on Shark Tank.
In part, the unexpected spike in sales could be attributed to the closure of some non-essential businesses as a result of the pandemic.
Despite the surge in demand, Eric, Ryan, and Kevin took on the task of packing the orders themselves, which proved to be successful, despite the surge in demand.
Muvez expanded its offerings to include a women’s product line in 2020 and was able to offer pre-orders for its ‘New Traveler’ shoe in 2022, which was the company’s first women’s shoe.
Furthermore, to make life easier for customers, the company is now allowing them to make instalment payments through the Shop Pay platform.
Some NBA athletes, including Langston Galloway and the Detroit Pistons, have established partnerships with Muvez through his company. Currently, the shoes are available on all two of their websites and Amazon.com for customers to purchase.
The current valuation of the company stands at $3 million, indicating that it is on a positive trajectory and is achieving positive results. Indeed, Muvez did not receive a patent for their heel security technology, however, this did not prevent them from pursuing licensing agreements with larger shoe brands.
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Frequently Asked Question:
1. Who is the CEO of Muvez
Eric Cruz was responsible for conceptualizing and founding Muvez. Despite this, he did not work on the project alone and enlisted the help of his brother Ryan who was also working on it.
2. Where is Muvez located?
At present, Muvez is located in New York, which is the place where the company functions. This company started its operations in 2016 and has been a success ever since.
3. Does Muvez run big or small?
There are no size differences between the shoes and their size chart. As a result, we recommend that you go ahead and measure your feet size accurately to find the option on the website that would work best for you based on the size of your feet.
With a keen interest in finance and a background in data analysis, Jackma is our go-to expert for dissecting the financial landscapes of notable figures. He’s the numbers whiz who meticulously compiles and verifies the financial data you’ll find on our platform.