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MyMayu Boots

MyMayu Boots

Who?

Suzanne and Javier Solsona from Vancouver, British Columbia

Show

Dragons Den Season 10: Episode 19
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Asking

$100k for 10%

Deal?

Yes – $100k for a 5 year royalty at 7% with Wek

The Problem

When Suzanne’s child was about 10 months old he started walking, and there were no boots on the market being sold to fit such small feet. Furthermore, when he got a bit older, he was always tripping on heavy and clunky rubber boots.

Their Solution

The husband and wife team created Mymayu Boots – which are meant for all seasons and tie in two places so that they stay on smaller feet. The sole is a light and flexible rubber, and the boot material is waterproof with a fleece liner.

Feedback

Right off the bat, when Suzanne and Javier said their boots retail at $75 a pair, the Dragons felt that they were quite expensive. On top of that, they reported about $50k in sales after their soft launch, and an additional $9k in sales afterward. However, they set their valuation at $1 million, which also made the Dragons more skeptical. Manjit flat out stated that they were too expensive and backed out immediately. Joe followed saying roughly the same thing and also raised concern about the competitive landscape, also backing out with Michelle. However, Wek made an offer of $100k for a 5 year royalty at 7% assuming he gets $275k at the end of it all, and if not, extends the deal for another 5 years. Jim almost partnered up with Wek, but backed out last minute, which prompted the couple to accept Wek’s deal.

  • Uniqueness 95%
  • Visual Appeal 90%
  • Usefulness 85%
  • Overall 90%

Updates

If you’re interested in buying a pair of Mymayu boots, head on over to their online store here

The post MyMayu Boots appeared first on Invention Inspiration.



This post first appeared on Invention Inspiration, please read the originial post: here

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