In 2010, Forus Athletic, a new running shoe business located in Indianapolis, was founded. Arsene Millogo and Steve Fartouh created the brand after becoming dissatisfied with their running shoes. 10% of revenues are donated to children’s organizations and scholarships for college students, demonstrating the company’s social consciousness.
|Founder||Arsene Millogo and Joel Vinocur|
|Product/Startup||Shock-absorbing running shoes that are lightweight|
|Investment Seeking||$200,000 for a 15% stake in Forus Athletics|
|Final Deal||No Deal|
|Shark Who Invested||No Shark|
|Episode Aired||Episode 629|
|Business Status||Out of Business|
Who is the Forus Athletics Founder?
Forus Athletics was created in 2010 by Joel Vinocur and Arsene Millogo. Vincour graduated from Robert Morris College with a bachelor’s degree in business administration.
Attorney Arsene Millogo is a West African native. He is presently engaged as a Senior Manager of Channel Sales at Proof Point. Since Forus’ death, Millogo’s career has been a mystery.
Millogo’s track expertise and need for long-lasting footwear inspired Forus. Many running shoes provided no alleviation for foot, spinal, or calf discomfort.
Because the bulk of running shoes are of poor quality, our unique concept was born. Because of a college connection, the Forus company was able to acquire a manufacturing contract.
By releasing the goods late in the season, the corporation committed a critical error. In preparation for the forthcoming running season, early spring is a fantastic time to launch new running footwear to the market.
Towards the end of the summer, the company formally opened its doors. Since their debut, the sneakers have been reordered at every retail location.
In addition, the firm acquired sponsorship deals with NASCAR, which resulted in considerable financial gains for Forus. The brand’s eventual downfall was due to poor stock management, distribution, and investment resources.
Before Shark Tank, Forus Athletics Shoes:
Forus Athletics’ founders, Joel Vinocur and Arsene Millogo are making a beeline for the Shark Tank. The two entrepreneurs have been invited to Shark Tank today to beg for $200,000 in exchange for 15% of their company.
Forus is regarded for making the most comfortable walking, jogging, and workout shoes on the market.
Forus designed shock-absorbing, ventilated shoes that were both lightweight and shock-absorbing. The shoes have a strong, solid design that is only a tenth of the weight of ordinary shoes and provides unshakeable support.
Simply exposing the Forus shoe to light may be used to assess the quantity of light and air that passes through it.
What Was Forus Athletics’ Shark Tank Pitch Like?
In 2015, both entrepreneurs approached Shark Tank, asking for $200,000 in return for 15% equity. In the 629th episode, they make their debut appearance.
Joel and Arsene come in with the goal of buying a 15% interest in their company for $200,000. Arsene talks about his days in college running track and his voyage to America.
They make the shoes for $11 and sell them for $35 a pair wholesale. They operate the majority of their business online and achieved $500,000 in sales in only six months. The company expects to make $2.5 million in revenue next year.
Robert Herjavec indicated an interest in investing, but only with Daymond John, a fellow Shark. John, on the other hand, was adamant about not investing, and Herjavec followed suit.
Lori added that she is unsure if she would be able to collect her monies in time. Lori declined to agree as a consequence.
When the entrepreneurs expressed their intention to partner with NASCAR on an endorsement arrangement, Mark and Daymond felt Forus was attempting to get an endorsement through unethical means.
Mark is also missing as a result of this. Forus Athletic Shoes was unable to strike an agreement because of this.
What is the source of income for Forus Athletics?
The shoes cost anything from $11 to $13 to make. Depending on the location, they offered the shoes wholesale for $35 to $50.
Forus Athletic Shoes were distributed in Taiwan, Holland, and Africa by a number of wholesalers and independent sales agents.
The firm focused on e-commerce and gorilla-themed marketing campaigns. They received excellent responses from customers.
Hold on to your hunches Update on Shark Tank
During the Shark Tank program, Arsene revealed that their sales had hit $500,000 in six months. Their sales projection was 2.5 million dollars, according to the evaluation.
After Shark Tank, what happened to Forus Athletics?
Forus ran into major customs complications, which resulted in multiple unfulfilled shipments and angry customers. They’re still taking orders, but they don’t seem to be able to fulfill them. The Shark Tank Blog is often updated with news and follow-ups on the Shark Tank television show’s entrepreneurs.
They have not produced items or maintained their social media pages since October 2015, despite taking money from consumers.
It’s probably a good idea to get a new pair of sneakers, be cautious when dealing with this company, and read the comments at the bottom of this page and on this thread before placing an order!
Robert Herjavec indicated an interest in investing in Forus, but only if Daymond John, a fellow Shark, and expert in clothing and shoe retail, joined him, since “stocking control is key,” as Herjavec put it.
John, on the other hand, and Herjavec both declined to invest. The businesspeople left the Tank without agreement.
The Better Business Bureau received complaints concerning customer service, shipping, and refund difficulties after Shark Tank aired. The business has ceased to exist.
Following Forus’s demise in October 2015, Vinocur joined Oracle as a sales manager and is currently a manager in corporate sales at Grubhub, according to LinkedIn.