How I Built This with Guy Raz Xero Shoes: Steven Sashen and Lena Phoenix
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Mar 13, 2023 Steven Sashen and Lena Phoenix, co-founders of Xero Shoes, share their journey from a simple barefoot running experience to creating a successful minimalist footwear brand. They discuss overcoming manufacturing challenges, a rough appearance on Shark Tank, and their bold move from 'Invisible Shoes' to 'Xero Shoes.' The couple highlights the intersection of luck and hard work that fueled their growth, revealing how they transformed a personal passion for running into a nearly $50 million global business.
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Finding a Chinese Manufacturer
- After being "kicked out of Korea" for demanding quality, Xero Shoes found new manufacturing agents in New York.
- These agents, surprisingly, vouched for the small company, securing a partnership with a Chinese manufacturer.
Shark Tank Experience
- Despite initial hesitation, Xero Shoes appeared on Shark Tank, driven by external suggestions.
- They valued the company at $5 million but received only one unfavorable offer, which they declined.
Post-Shark Tank Growth and Ready-to-Wear
- After Shark Tank, website traffic and sales surged, leading to 10% of lifetime sales in one week.
- Xero Shoes began developing ready-to-wear sandals, collaborating with former Crocs designer Dennis Driscoll.
