Whatever Happened To Baubles + Soles After Shark Tank?
Lisa and Duc Nguyen overcame devastating odds to pitch their shoe company Baubles + Soles on "Shark Tank" Season 11. Lisa, a philanthropic lawyer, spoke about her status as a Vietnamese refugee, who made a journey she claims 1-in-4 people wouldn't survive. She was able to build a life in Australia, before moving to America on business. A mom herself, Lisa was frustrated by how quickly her children were outgrowing the clothing she bought them — especially their footwear. She then began the process of inventing a smooth, flexible, kid-friendly shoe (almost resembling a Croc) that has a knob on the toe to attach decorative ornaments. Thus, Baubles + Soles was born.
The Nguyens entered "Shark Tank" seeking $100,000 in exchange for a 15 percent stake in Baubles + Soles. Though all five investors were visibly moved by Lisa's story, it wasn't enough to convince them that her shoe company was the next big thing — at least, not until she sweetened the deal by adding a two-year recoupment clause. Inspired by her dedication, Daymond John struck a deal with the pair for $100,000 and a 25 percent stake. It surely wasn't one of the most expensive deals on "Shark Tank," but it was a success for Baubles + Soles nonetheless.
With nearly five years having passed since Baubles + Soles featured on "Shark Tank," viewers may be wondering how the company is doing today. Unfortunately, the answer isn't very positive.
Baubles + Soles was hanging on in 2022
As of 2022, Baubles + Soles was still alive and kicking in the shoe retailer business. On the (now defunct) website for Baubles + Soles, the company's appearance on "Shark Tank" was honored solely through a logo on their "As Seen On ..." banner. At the time, the company's selection of products was consistent with what they had presented on the show — approximately 20 style options. Essentially, Baubles + Soles was still around, but it didn't seem to have expanded much beyond its initial appearance on "Shark Tank."
The business' social media presence had a similarly worrying quality. While the company's official Instagram page had over 13,000 followers on their Instagram, its posts had low engagement with several garnering under 10 likes. In hindsight, many of these observations were the writing on the wall that Baubles + Soles wouldn't be around forever. Sure enough, 2022 turned out to be the final full year of operation for the "Shark Tank" venture.
Baubles + Soles closed down in 2023
After a multi-month period of relative silence, the official closure of Baubles + Soles was announced on the company's Instagram page in January 2023. For the next several months, the business held a closing sale with products being available for up to 75 percent off. "Thank you to everyone that has supported us through the years and during our store closing sale. We appreciate you all!" the company wrote in one of its final Instagram posts.
Between the massive closing sale and the shutdown of the company's website, the chances are high that Baubles + Soles is gone for good and a permanent addition to the list of "Shark Tank" businesses that don't exist anymore. However, it seems like Lisa and Duc Nguyen aren't completely ruling out a potential return in the future. The team has described the business' closure as "taking a pause," rather than an definitive farewell. Perhaps, if circumstances improve, they can press play on Baubles + Soles once again somewhere down the road.