Z-CoiL Shark Tank Update – Shark Tank Season 17
The founder of Z-CoiL, Andres, along with his daughter, took the stage on “Shark Tank Season 17 Episode 1.” They are a footwear brand with springs attached to the bottom of the shoes, which relieve pain while walking, hiking, or running.
A father-daughter duo stormed the “Shark Tank Season 17 Episode 1,” setting in motion their brand Z-CoiL. Andres Gallegos, the son of Alvaro Z. Gallegos, founder of the footwear brand, and his daughter, Lindley, are from New Mexico. They introduced their shoe brand to the Sharks during the Shark Tank pitch.
The company Z-CoiL was started in 1995 by Andres’s father, who invented the spring-heeled design after years of experience in the shoe business. Andres brought Lindley, who has an expertise in digital marketing, to relaunch D2C Z-Coil.
So, will the investors see this as a futuristic step in the footwear industry, or will they think this invention has lost its spring?
About Z-CoiL
| Category | Details |
|---|---|
| Business Name | Z-CoiL |
| Founder | Alvaro Z. Gallegos, Andres Gallegos, Lindley Gallegos |
| Industry | Footwear |
| Product | Pain-relieving shoes |
| Deal Status | Deal secured with Lori |
| Investment Asked | $250,000 for 10% equity |
| Deal Outcome | $250,000 for 50% equity |
Doctors and companies across the globe have been trying for decades to invent perfect footwear. However, their efforts are in vain, as they manufacture expensive customer orthotics, suggest painkillers, and advise surgeries.
The Sharks were intrigued by the spring-heel design. Moreover, Rashaun Williams was way too impressed with these futuristic shoes.
Z-CoiL footwear puts springs on your feet, cutting the impact caused by regular shoe brands by at least 50%. Their target audience is working people, such as nurses, construction workers who have to move, and servers.
The shock-absorbing coil allows wearers to walk longer, stand longer, and experience significantly less back and knee pain. Robert Herjavec and Rashaun Williams both tried the spring-enhanced footwear, and they absolutely loved the experience of wearing a Z-Coil.
The co-founder, Lindley, explained that when you walk and stride, the back of the heel really takes significant strides.
Z-CoiL Shark Tank Pitch
Andres, the founder of Z-CoiL, and his daughter took the stage at the Tank, asking for $250,000 for a 10% equity stake in their brand. Andres delineated the brand’s back story and explained how it has been in the market for the last 30 years.
This concerns Mr. Wonderful, as it is not a new product. However, the founder explained the numbers to impress the sharks, including Lori Greiner, who had already clarified that she loved the product.
Andres stated that there was a credit card debt of $140K for the initial five years. To get more investment and raise money, Andres gave free shoes as an investment to the shareholders.
They gave shareholders $1000 if they invested $1000 in the footwear brand. Rashaun Williams was not very excited after hearing the idea. Hence, in the early 2000s, Z-Coil raised $5 million from shareholders.
Robert was keen to know about their current sales. Andres elaborated that in 2008, their whole network of retailers was blown like a house of cards, and he had to bring in Lindley, a digital marketing expert, as the co-founder.
Like other Sharks, Kevin O’Leary was interested in knowing the profit they would make in 2024. Andres projected $1.4 million in profit for 2024 but also anticipated $270K loss.
Lindley further took the plunge to explain that 25% of their customers are in healthcare, like nurses, and others are in logistics and warehousing, using the Z-Coil boots.
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Did Z-CoiL Get A Deal On Shark Tank?
Lindley further explained that 25% of their customers are in healthcare, like nurses, and others are in logistics and warehousing, using the Z-CoiL boots. She also told the investors that their ad spend is currently $4.6.
While Kevin clearly refused to participate because he didn’t like the numbers, including ROAS (Return on Ad Spend), and CAC, which was $100.
Kendra Scott also avoided taking a bite of Z-CoiL, spring-enhanced shoes. On the other hand, Rashaun explained why he is not investing in the futuristic footwear brand, because the runway of 30 years worries him.
Another shark, Robert Herjavec, was not involved in giving a deal for the same reason as Rashaun. It seemed like all the Sharks were worried about how their sales dropped in these 30 years, from generating $11.6 million in sales to $1.6 million in 2024. Also, Lori Greiner made it clear that though she loved the product, she was not ready to jump into it.
However, Lori changed her mind and was ready to invest in the brand, giving them $250K at a 50% stake in the company. Andres and Lindley got emotional after listening to the deal, but agreed to lock it with Lori.
What Makes Z-CoiL Unique?
Z-CoiL shoes are unique due to several reasons, such as:
- Z-CoiL footwear presents a patented steel coil in the heel of the shoe and thick padding.
- These shoes also cushion the shock of impact up to 50 percent compared to conventional shoes.
- A built-in orthotic supports the foot by distributing pressure evenly across the bottom of the foot and refining posture.
Where Can You Buy It?
You can purchase these futuristic shoes, which have a spring attached to the bottom to make them comfortable and reduce knee and back pain, on their official website. You can also check their Instagram page. They are also available at select retail stores in the U.S.
Quick Summary
- The company Z-CoiL was started in 1995 by Andres’s father, who was in the shoe business. Andres, the founder of Z-CoiL, and his daughter took the stage at the Tank, asking for $250,000 for a 10% equity in their brand.
- Kevin O’Leary was interested in knowing their profit in 2024. Thus, Andres responded with a profit of $1.4 million; moreover, they are also going to lose $270K.
- Every Shark present did not want to get involved in the deal because they were worried about the 30 years of runway and still no take-off. However, Lori gave a deal of $250K for 50% equity in the brand.
