"I'm so incredibly thankful" When Baubles + Soles' touching Shark Tank pitch won over Daymond John

In a crucial episode of Season 11 of ABC's Shark Tank, entrepreneurs Lisa and Duc Nguyen turned what seemed like an inevitable rejection into a deal that changed the course of their children's shoe company, Baubles + Soles. The fashion billionaire Daymond John was among the five Sharks who first unanimously determined that the husband-wife combination was out.

But at the end of the Shark Tank pitch, Lisa's perseverance and gripping personal story convinced John, and they received a $100,000 investment for a fifth of their company.

"When [John] went out, my heart dropped to my tummy," Lisa revealed after securing the deal.

Adding:

"I'm so incredibly thankful. I think that 'Shark Tank' is an example that if you work really hard, and refuse to take any other outcome, you're gonna be successful. We're so excited to work with Daymond."

The Nguyens' company, which created children's shoes with interchangeable decorative accessories, demonstrated how perseverance and personal connection can sometimes be more persuasive than business metrics alone in the high-pressure tank.

What happened during Baubles + Soles’ Shark Tank pitch?

The path to Shark Tank for Lisa and Duc Nguyen began with a simple parenting dilemma. When their daughter received a pair of shoes with a crimson heart on them in 2016, she was just 10 months old. Lisa explained during their pitch that she wanted to save the heart as a keepsake when her daughter outgrew the shoes, and she was unable to remove them.

This sparked the idea for Baubles + Soles—a company creating patent-pending interchangeable shoes for kids. The concept was elegantly simple: durable, machine-washable base shoes with removable decorative "baubles" that could be swapped out for different occasions or saved as mementos.

"One shoe equals endless possibilities. Our shoes are machine washable, slip-resistant, totally recyclable, and made here in America," Lisa told the Sharks during their pitch.

The Nguyens had already made $150,000 in online sales in 2018 and were forecasting $300,000 for the following year when they made their appearance on the show in 2019. They went into the Tank looking to buy 15% of their business for $100,000.

Beyond their groundbreaking invention, Lisa's incredible life story was what really captured the Sharks' attention. She described how, after fleeing Vietnam with her mother on a fishing boat, they lived in a camp for refugees for three years before moving to Australia.

Describing how she went on to earn her law degree and work in banking before looking for a more fulfilling career, Lisa said:

"We were one of the lucky few — 25% of people who did this died at sea,"

Her story resonated deeply with the Sharks, particularly Daymond John, who remarked:

"We've had a lot of people who went through tough situations, but I don't think we ever heard of someone who went through a refugee camp and lived there. So you know that she's gonna be a hard worker."

Mark Cuban summed up the sentiment simply:

"Immigrants get it done!"

Despite their admiration for the Nguyens' story and product, all five Sharks initially declined to invest. Their concerns centered around inventory challenges—stocking multiple shoe sizes, colors, and accessory options seemed like a logistical nightmare.

"You're gonna have a nightmare with that because you have to stock up on so many sizes, colors and accessories," John explained as he initially declared himself out.

Elaborating:

"In my business, the thing that has killed more people than the plague has been inventory."

But Lisa refused to leave empty-handed. In a remarkable display of tenacity, she countered with a revised offer:

"Can I de-risk this investment for you? How about if we pay you back [the $100,000 investment] in two years from the revenues and profits that we make? I know this company is gonna work, and we're here for a Shark. This has been our biggest dream, and we're here."

This determination proved decisive for John, who reversed course and offered $100,000 for 25% equity—a deal the Nguyens quickly accepted.

When asked why he changed his mind, John explained simply that "she's just not going to quit. She's not going to stop."

What happened to Baubles + Soles after its Shark Tank appearance?

Following their Shark Tank appearance, the Nguyens leveraged their newfound investment and mentor to expand their business. Lisa later shared on Instagram that they had met with John for business advice, posting photos of their meeting in December 2019.

The company experienced significant growth, with their products eventually being stocked in major retailers like Macy's and BuyBuyBaby by 2020. Lisa also reflected on her Shark Tank experience during a 2021 interview on the "Cost of Good Sold" podcast, sharing:

"The fact that we walked out of there with a deal when we almost did not, like that was all... I'm so grateful."

Baubles + Soles declared in January 2023 that they would be closing the following month, despite their initial success. The company held a closing sale, posting on Instagram:

"While we will miss creating new baubles for you, we hope you are able to take advantage of our Closing Sale to stock up on sizes and all your favorite bauble characters. Thank you for your continued support."

They released their parting message on February 28, 2023:

"Thank you to everyone that shopped our closing sale and supported us through this adventure,"

Confirming that the company was entering "a season of pause and reflection."

Since then, Lisa has ventured into new business territories, including property rental and home renovation, through her company Custom Nest. Duc appears to have focused on family time, sharing on Instagram about visits to relatives in Canada.

Even though Baubles + Soles is over, the Nguyens' motivational Shark Tank experience is still a testament to the value of tenacity and the importance of telling one's true story—qualities that will surely help them in their future undertakings.

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You can watch Shark Tank on ABC every Friday at 8 PM ET, with streaming available on Hulu.