Mother of athletes, Krista Woods, was tired of her kids’ stinky shoes. To combat this, she created GloveStix, a product to get rid of the nasty odor in her house that can be placed in shoes and gloves. Will the sharks appreciate this stink reducer and invest in this product? Let’s see in this
Shark Tank GloveStix Update
- Entrepreneur: Krista Woods
- Business: Odor remover for athletic gear: shoes, gloves, etc.
- Ask: $150,000 for 10% equity
- Result: $150,000 for 17.5%
- Shark: Alex Rodriguez and Lori Greiner
A solution for a stinky problem, GloveStix absorbs stink from shoes, gloves, and essentially anything that holds odor. The outside is plastic that holds silver ions that can stop 99.9% of odor-causing bacteria growth in 24 hours.
As seen on Shark Tank – Our Silver Seal technology fights glove and shoe odor better than shoe deodorant balls or other deodorizers.
The inside of the stick has a replaceable stick that absorbs moisture. The reason this product stands out from the competition is it is the only one on the market that absorbs moisture (like Kevin O’Leary’s cedar inserts) and kills bacteria.
The company has just received a patent and has sales of $506,000 over a year and a half period. GloveStix is sold online through its website and on Amazon. The product has also been on QVC.
Because the product has an insert that needs to be changed, there is a recurring income. Krista is in the tank because she wants to take this product to the next level and feels the sharks can help her do that. She needs help delegating tasks and needs expertise with this.
Mark Cuban dropped out as he saw Krista as a micro-manager. Barbara Corcoran didn’t care for the product and dropped out. Lori Greiner and Guest Shark, Alex Rodriguez, partnered and offered $150,000 for 20%.
Krista countered with $150,000 for 15%. Alex countered with $150,000 for 17.5% and they made a deal.
Where is this product now at the time of this
The products are essentially the same as when they appeared on the show, except the ShoeStix has been renamed StankStix. They still have the insert that needs to be replaced throughout the product’s life.
During our GloveStix update research, we found that the deal with Lori and Alex did not go through following the show. However, the product has still been pretty successful. The company brings in over $1 million annually and has been featured on The Today Show.
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