Jamie and David Montz set out to solve a relatable problem by turning any laced shoe into a slip-on. The husband-and-wife duo have done just that, with their stretchy shoelaces. Will they tie up a deal on
If you’re short on time, here’s a quick overview of what happened to The Original Stretchlace after
The Original Stretchlace appeared on
|Accepted deal of $100,000 for $30% equity
Shark Tank The Original Stretchlace Update
- Entrepreneur: Jamie and David Montz
- Business: Product that turns any laced shoe into a slip-on
- Ask: $100,000 for 15% equity
- Result: $100,000 for $30% equity
- Shark: Robert Herjavec
Jamie and David brought The Original Stretchlace to
The Original Stretchlace allows you to put your best foot forward without fussing with tight knots and worn-out laces. Our easy-to-use shoe strings are specially designed for any sneaker, instantly turning them into slip-ons without shoelace anchors or locks.
Before we go deep into The Original Stretchlace update, let’s talk about what led to the creation of the product and how the pitch turned out. Just like every other mom, Jamie Montz found herself having to tie her kid’s shoelaces one too many times.
She sought to find a solution to the problem and when she found none, she created one herself. The result was The Original Stretchlace.
Along with her husband, the two started selling stretchy shoelaces in 2015 and quickly found out that their product’s market was larger than they anticipated.
From people with declining motor skills to athletes, their consumer base was huge.
By the time they presented on
The sharks were quite impressed with the company, but also with Jamie.
The product retails for between $9.99-$13.99 and costs $1.49-$2.14 to make. In terms of sales, in the previous year, they made $221,000 in sales.
However, in the current year, at the time of filming, they expect to do $165,000. Jamie says that COVID-19 has really hurt their sales.
Robert Herjavec is impressed with Jamie and refers to her as a “20-year Amazon goddess,” before going out.
Kevin O’Leary, while impressed, refers to the couple as “shoelace cockroaches” and drops out.
Meanwhile, guest shark Daniel Lubtezky has a different take, questioning the Montz’s drive as an entrepreneur before going out.
Lori Greiner disagrees with Daniel but feels that the product just isn’t the right fit for her.
Then, it was down to the Dallas Mavericks owner, Mark Cuban, who advised that the Montz would enjoy better success without an investor.
Just as the two are about to walk off the set, Robert comes back in with a deal of $100,000 for 33% equity, much to the behest of Kevin and Mark. The husband and wife counter Robert’s offer at 25% equity and he says no.
They then counter him again with 30%. Robert agrees to the deal, and the couple leaves
So, what happened next? Keep reading The Original Stretchlace update to find out what happened following the tank!
We have great news to report in The Original Stretchlace update. Since the episode aired in May 2021, The Original Stretchlace has continued to grow and is now sold in Walmart and Target!
Along with a growing retail presence, sales seem to be soaring on Amazon too. The Original Stretchlace has an average rating of 4.5 stars, with over 6,000 reviews.
Their product line has also expanded to include tie-less straps, bow clips, and many different styles of laces to choose from. Check the out on The Original Stretchlace website.
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Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!