Shark Tank Update
Shark Tank Pitch
Jeska Shoe Company Shark Tank Update
Published:
3m
Emerson, AR
| Name | Jeska Shoe Company |
|---|---|
| Main Presenters | Jessica Haynes |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 10/6/2014 |
| Main Location | Emerson, AR Loading Map |
| Order Shown in Episode | 4 |
| Final Deal | Deal was made on the show with sharks Daymond John for $70k for 70% of company, but it fell through after the show. |
Jeska Shoe Company Shark Tank Pitch
Jessica Haynes is from a small town in Arkansas and enjoys the outdoors. Jessica has created a prototype show that allows the heel to be replaced with different styles. This is similar to Onesole /seasons/2/episodes/9/onesole from season 2. Jessica has already been turned down by countless investors and the sharks are her last hope.Link Preview
Onesole
Jessica suggests the idea of transformable shoes has been around for a long time with the first patent from 1899 but hasn't taken off because it needs the right company behind it. She plans to license her interchangeable heel design and magnetic attachment idea to an existing brand. Kevin contrasts that shoe companies make more money by selling whole new shoes and wouldn't be interested.
Jessica has put $63k of her money into this, which she got by using money her grandpa had set aside for her for college in place of buying and smoking cigars on Jessica's promise that she "did good in school" (You can decide if her poor grammar is ironic or time-period accurate). After blowing through that money, Jessicas parents took out a second mortgage on their home to fund Jessica's idea.
The plan is that...I don't have all the answers.
Kevin, Mark, Robert, and Barbara see what we all see: blind hope leading to years of losses. They all go out.
In my first business, I lost $42k. It was worth a billion to me then. I failed miserably after two years of trying, and you know what? I should've given up after three months. I had a bad idea, but in giving up, I got into the right business.
Daymond's parents took out a mortgage on their house for him, so Daymond gives Jessica an emotionally motivated offer for 70% of the company. The other sharks are oddly critical of Daymond as if he was supposed to be more charitable to an in-debt, doomed business. Daymond has significantly improved the chances of success and will now run most of the operation. Jessica recognizes 30% of any value is better than her current situation of 100% of no value and she accepts.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $70k for 30% of company | |
| Sharks | Out | Kevin O'Leary | Out |
| Sharks | Out | Mark Cuban | Out |
| Sharks | Out | Barbara Corcoran | Out |
| Sharks | Out | Robert Herjavec | Out |
| Sharks | Out | Daymond John | Out |
| Sharks | Deal Never Closed | Daymond John | $70k for 70% of company |
Mark Cuban
Out
Daymond John
Deal Never Closed
Kevin O'Leary
Out
Barbara Corcoran
Out
Robert Herjavec
Out
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| No Episode Updates | |
Jeska Shoe Company After Shark Tank
Jessica Haynes did an interview https://www.sharktankblog.com/jeska-shoe-update-interview with Shark Tank Blog following her appearance on Shark Tank. Jessica said her grandfather was her inspiration and he started a hotel business that remained in the family, which Jessica did sales for after college.Link Preview
interview
Jessica didn't have funds for a website but eventually got a landing page to collect emails for those interested. The website response was positive following Jessica's Shark Tank appearance but she did not yet have a product to sell. The deal with Daymond had not gone through by the time of the interview.
In October 2014, Jessica posted to her Facebook https://www.facebook.com/JeskaShoe that Jeska Shoe Company had reached a point of diminishing returns and did not make sense to continue, so she closed the business. Daymond seemingly remained as a mentor but did not finalize the deal.Link Preview
Facebook
As of 2022, it is unclear what Jessica did after that to now.
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