Imagine your go-to high heels also being your go-to boots.
Not only would they transform from pumps to booties, but knee-high and thigh-high boots too.
Andrew Goodrum and Queenie Davis made this dream a reality with their company, Boot Illusions.
These entrepreneurs created shoe covers that turn heels into boots.
One pair of stilettos could double as autumn’s favorite footwear in endless heights and patterns.
The co-founders each invested $40,000 into Boot Illusions to start the company.
Luckily for the entrepreneurs, more than one wealthy investor wanted in on Boot Illusions.
That investment valued Boot Illusions at over $300k.
The Sharks liked Goodrum and Davis.
Barbara Corcoran, the only heel-wearing investor, vouched for the product’s ingenuity.
However, Robert Herjavec went out first, but not because Goodrum and Davis had a terrible idea.
The cybersecurity CEO didn’t think he could add value to the shoe business.
Mark Cuban had similar sentiments.
Tech was his specialty, not women’s footwear.
Boot Illusion’s lack of profits caused him to go out.
Luckily, he was interested but only in licensing the shoe cover utility to other footwear manufacturers.
John offered the entrepreneurs $100k for 75% of the Boot Illusion technology.
However, Goodrum and Davis hadwhat Corcoran looks for in a person before investing.
The Shark might have been a real estate mogul, but she wanted in on the footwear company.
Corcoran offered $100k for 55%, which the entrepreneurs accepted.
“We never moved forward.”
Still, without a Shark on board, the business owners strived to make Boot Illusions a success.
However, the entrepreneurs ran into trouble when their manufacturer in Turkey closed down.
Boot Illusion received orders worldwide, but with their product unavailable, all the money had to be returned.
The innovative footwear was never able to recover.
The company’s lastInstagrampost was in February 2014, just over a month after its website launched.
It captured Coco Chanel’s famous line, “The most courageous act is to still think for yourself.
Instead, the domain is for sale.BootIllsuions.comcan be yours for less than $2,000.
Having your favorite heels double as botties and knee-highs sounds like a steal.
However, the great idea behind Boot Illusions wasn’t enough to sustain a business in the fashion industry.
