Queenie Davis and Andrew Goodrum, co-founders of Boot Illusion, introduced their company to the Sharks and the rest of the world in episode 313. The item is a leather or fabric “upper” that slides over regular women’s heels to make them look like boots.
A typical Boot Illusion costs a fraction of the price of a new pair of boots, allowing ladies to receive three or four “new” pairs of “boots” for the cost of one! The uppers zip off and can be thrown into a bag to switch up your style on the fly. Queenie mentioned that she had a manufacturing deal in Turkey and needed assistance with retail distribution.
Boot Illusions Net Worth
Boot Illusions change from a shoe to a boot and back. It’s a Boot Illusion, not an illusion. Andrew Goodrum and Queenie Davis approached the Shark Tank looking for a $100,000.00 investment in exchange for a 30% stake in the boot business.
They don’t make the goods themselves; instead, Queenie had a fantasy of traveling to Turkey in search of a factory. So, when an entrepreneur has a dream, what does he or she do? They went to Turkey after it. Fortunately, her wish came true, and she was able to find a company that would help her bring the Boot Illusions to life.
At the time of the Shark Tank taping, Goodrum and Davis had put about $40k of their own money into the enterprise, split 50/50. The average boot illusion costs $25 to manufacture and costs $79 to buy.
Daymond John is the obvious Shark to back this apparel creation, offering $100,000 for 75% of the boot illusion technology alone. He wants to sell it to other boot companies and profit from it. Daymond also promises to pay them an extra 25 cents for every pair sold.
Barbara Corcoran, ever the elegant lady, adores the Boot Illusion concept and extends an offer to Goodrum and Davis. She provides the $100k they’re asking for in exchange for 55 percent of the company.
Boot Illusion in The Shark Tank
Queenie and Andrew were looking for $100,000 in exchange for a 30% stake in her company. The Sharks were impressed by Queenie and the concept. Robert decided that he couldn’t provide value to the shoe industry, so he was out. Mark isn’t a fan of fashion, therefore he’s out. Mr. Wonderful also thinks the valuation is off; he’s out.
Daymond wants to license Boot Illusion and is willing to pay $100K for 75% of the company. Barbara offers $100K in exchange for a 55% stake. Barbara informs Queenie and Andrew that everyone she works with is pleased. Andrew feels 55 percent is excessive, but they accept Barbara’s offer.
Boot Illusion After the Shark Tank
The corporation faded from view after episode 313 aired in the Spring of 2012. Their OLD website was promising a catalog, but nothing seems to have changed. The new Boot Illusion website was not linked to the previous one.
This harmed Queenie and Andrew’s business.
Barbara’s deal fell through as well. Barbara never invested because the business wasn’t as far forward as she had planned; nonetheless, she maintains contact with Queenie and may reconsider once production issues are resolved.
Queenie admitted to having some setbacks in an interview. Their Turkish supplier effectively went out of business. They made plans with a Brazilian manufacturer to have merchandise ready for Christmas 2012, but the cloth Queenie transported to Brazil was delayed in customs and didn’t make it to the factory on time.
Boot Illusion was required to repay all funds received from distributors and customers. The bugs have been fixed, and Boot Illusion should be released in March 2013. Things did not work out, and she closed the business.