What Happened to Forus Athletics after the Shark Tank Pitch?
What was Forus Athletics?
Forus Athletics specializes in the sale of lightweight running shoes.
The company brags of using an insole shock-absorbing technology (PolstarMax 6) that absorbs “the pressure of your body weight during a stroll or tough workout and decreases back, calf, and spinal issues.”
It was also said that the shoes were so light that they felt more like socks than shoes.
There are two models: the Nytro 90x and the Membrane Crypt, the latter of which may be recycled and returned to Forus for a 25% discount on the next pair.
Forus running shoes provide the required comfort, support, and shock absorption while being the lightest and most breathable shoe on the market.
They are up to 10 ounces lighter than a typical running shoe and cost the same as any high-quality brand.
Aside from great design and comfort, Forus has another characteristic that sets it apart from the competition. Forus is a company that places a premium on social responsibility.
They contribute 10% of their revenues to children’s groups across the world and offer scholarships to individuals who want to work with children.
When you buy Forus sports shoes, you’re not only getting a cutting-edge sneaker that helps ease joint and muscle pain, but you’re also helping to fund charitable causes that will make the world a better place.
Who was the founder of Forus Athletics?
Forus Athletics was founded in 2010 by Joel Vinocur and Arsene Millogo. Vincour graduated from Robert Morris College with a bachelor’s degree in business administration.
He is presently the Senior Manager of Channel Sales at Proof Point. Arsene Millogo, who was born in West Africa, studied law. Millogo’s future is unknown as a result of the termination of Forus.
Millogo’s own track experience and the need for long-lasting shoes inspired Forus. Runners’ shoes were not only short-lived, but they also provided no relief for foot, spinal, or calf discomfort.
In reaction to the lack of quality in most running shoes, an original concept was born. The Forus Company received a manufacturing contract as a consequence of a college connection.
The firm experienced a substantial setback as a result of the product’s late-season release.
Early spring is an excellent time to introduce new footwear products for the upcoming running season. The company made its debut at the conclusion of the summer.
Despite this, all retail stores have reordered shoes since the first release. Furthermore, Forus was able to get large sponsorship deals through NASCAR, which benefitted the company significantly.
The eventual collapse of the brand was a lack of inventory control, distribution, and investment resources.
What Happened to Forus Athletics at the Shark Tank Pitch?
Joel and Arsene appeared on Shark Tank season 6 episode 24 in quest of $200K in exchange for a 15% share in their business. This works out to a $1.3 million valuation.
They introduce their product, then give samples to each Shark, with Joel encouraging each Shark to try them on and walk about in them.
Arsene tells the story of how he came to America and how he competed track in college.
The shoes cost between $11 and $13 to create and retail for between $35 and $50 at wholesale, depending on the country. The sneakers will thereafter be priced between $75 and $80.
They make the majority of their sales online and have made $500,000 in six months. They expect to make $2.5 million in income next year.
Lori has decided to withdraw from the race because she feels there are too many strong contestants.
Daymond then inquires about the amount of inventory Forus Athletics possesses; there are around $68,000 in footwear available.
Daymond inquires about the amount of shops who have reordered, and Arsene and Joel respond that all of the stores have.
Kevin does not want to follow the opponents on their journey because they are ahead of Forus. Kevin has withdrawn from the agreement.
Mark has additional endorsement deals in the works, but he is no longer accessible.
Daymond was undecided about investing; nonetheless, he realizes that the investment is not for him and withdraws from the deal.
They are now explaining their own email marketing techniques. Robert feels they are fighting too many battles, but he is willing to spend money if Daymond joins him.
Daymond has been absent because he does not want to argue with Arsene on a regular basis. Robert is concerned about inventory management and will not conduct it in the absence of Daymond. Robert has left.
Forus Athletics is unable to find an investor thanks to Joel and Arsene’s efforts.
What Happened to Forus Athletics after the Shark Tank Pitch?
Forus Athletics encountered major customs complications following the Shark Tank Pitch, resulting in countless unfulfilled orders and unsatisfied customers.
They are still receiving orders but do not appear to be able to fulfil them. Despite accepting money from consumers, they have not provided anything and have not updated their social media sites since October of 2015.
Vinocur joined Oracle as a sales manager following the closing of Forus in October 2015.
He is now Proof Point’s Senior Manager of Channel Sales.
What was the Net Worth Forus Athletics?
Joel and Arsene appeared on Shark Tank season 6 episode 24 in quest of $200K in exchange for a 15% share in their business. This works out to a $1.3 million valuation.
Who are the Competitors of Forus Athletics?
In the market, Forus Athletics has a slew of competitors. Nike, Puma, New Balance, Adidas, and Under Armour are among them.
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Forus Athletic FAQS
1. What kind of impact on the body do Forus athletic shoes have?
Forus athletic shoes are helpful in providing relief from joint and muscle pain. The company has developed a shoe specifically designed to relieve these pains.
The abundant air pockets eliminate pressure on the Achilles, knees, and ankles, which greatly reduces the amount of pain in their muscles and joints.
2. How Forus shoes do work?
The secret behind Forus shoes is the air pump, which is capable of expanding and contracting. The air pump has a valve for airflow and an elastic chamber for the infusion of air.
This inflation of the chamber provides a cushion that helps with providing comfort in their sneakers.
3. How much was Forus shoes?
Forus athletic shoes cost between $35 and $50 at wholesale, depending on the country, but will be priced between $75 and $80 in stores once they reach retail.
4. Who was the founder of Forus shoes?
The company is founded by Joel Vinocur and Arsene Millogo, who presented their product on Shark Tank.
5. Has Forus shoes been discontinued?
Yes, the company officially closed its doors in October 2015.
6. How much money was Joel Vinocur and Arsene Millogo seeking in the Tank?
Joel and Arsene requested $200,000 for investors in exchange for a 15% stake in the business. This works out to an estimated valuation of $1.3 million.
7. Did Joel Vinocur and Arsene Millogo get the deal from the Sharks?
No, they left the Tank without any deal.
8. What happened to Forus after the Shark Tank Pitch?
Forus suffered from major customs complications following the Shark Tank Pitch, which resulted in countless unfulfilled orders and unsatisfied customers.
9. When was Forus Athletics featured on Shark Tank?
Forus Athletics was on April 10th, 2015.
10. Where was Forus Athletics located?
Forus Athletics was located in Indianapolis, Indiana.
11. When was Forus Athletics founded?
Forus Athletics was founded in 2010.
