ODR Skis is a lightweight ski boot blades company, Appeared in Shark Tank Season 12 Episode 7. The founder of this company, Kevin Greco, demanded $3500,000 from the sharks in exchange for 10% equity in his company.
This company started in Norway in 2014 and spread all over Europe. Greco was determined to grow his business in the United States.
This product helps to solve the problem of snowboarding and make it easier. By attaching it to ski boots, the fun of playing adventure in the snow increases a lot.
Kevin is a native of Utah and grew up skiing. Kevin invented this ODR Skis to enhance and make the adventure of playing in the snow more fun.
This is a lightweight and easy solution to snowboarding. This product is the ultimate solution but bulky, risky equipment and a difficult, hazardous learning period.
Kevin knows: that in the winter season, the whole world is involved in playing winter sports, most winter sports are played in Europe countries.
There are many matches and tournaments in this winter sports, it includes skiing, snowboarding, playing hockey, and ice skating.
The ODR Skis, which form the middle ground between ski boots and ice skates, are designed to make beginners more than experts.
What Is ODR Skis?
ODR Skis Salt Lake City, Utah, United States base is a company that manufactures Ski Resorts Accessories. According to LinkedIn, this company was started in 2017 in Alaska, United States.
The ski boots and accessories make snowboarding so much easier. So this is a comfortable, flexible, lightweight boot. It has two types of boot and comes with different features.
Eclipse and R43 are quite different in both winter boots. The Eclipse is also affordable with a flexible, dynamic thermal liner.
High-Quality Construction, Maximum Comfort & Support, and Proprietary Hard Flex System available in R43 boot.
Talking about affordable, it is much lesser in price than Snowboards. The boot is fully built with the safety guideline in winters, it protects the foot and also comes with steel edges.
Take ODR Skis to the mountains, speed down the slopes, and carve fresh corduroy ski slopes through an exhilarating, white wonderland.
These ski shoes are available on a rent basis and can also be bought directly from the ODR Skis website.
These shoes will be available on a rental basis at top ski resorts including Colorado, Utah, California, Vermont, New Hampshire, and more.
These two shoes Eclipse and R43 come at prices of $399 and $449, if you want, you can pay on a monthly basis.
Kevin knows that consumer awareness is needed for the brand to grow, so he is also providing his product in a retail ski shop.
ODR Skis Shark Tank Update
|Company Name||ODR Skis|
|Product||lightweight ski boot blades for a smoother ski experience|
|Asked For||$350,000 for 10% Equity|
|Final Deal||No Offer|
|Episode (Shark Tank USA)||Season 12 Episode 7|
|Air Date||December 4, 2020|
|Business Status||In Business|
|Net Worth||$3.5 Million *estimated|
See This Holiball Shark Tank Update
ODR Skis Contact Details
|Place||Alaska, United States|
Who Is The Founder Of ODR Skis? – Kevin Greco Shark Tank
The Founder and Chief Executive Officer of ODR Skis are Kevin Greco. Kevin grew up in Alaska and loves snowboarding.
The equipment used for snowboarding is very heavy and uncomfortable, so to make it easier, Kevin invented this product.
Kevin did his bachelor’s degree from the University of Alaska Fairbanks, after which he did a business degree at George Fox University.
He has done different job roles in many companies, the main ones being CLIMAX Portable Machining & Welding Systems, and Intel Corporation.
He also worked as a mechanical engineer in Canada’s SpaceX Company for more than 1 year.
He was a Business Intelligence Manager in DAQRI, however, he left this company in 2018 to work full time in his business.
ODR Skis Before Shark Tank
Founder Kevin had launched his company ODR Skis in 2017 but it could not become such a successful product at the initial time.
Kevin is a very good engineer, he tried to make this product perfect till its sales started coming.
The founder believed that he should provide an affordable and sustainable product to the people who like and play Winner Sports.
According to ODR skis, this product is designed for those community people who want to experience skiing and snowboarding.
This website also provides winter accessories along with shoes which include Dynamic Wax, Guardian, Travel Bag & Face Mask.
Did ODR Skis Get a Deal on Shark Tank?
ODR Skis founder Kevin Greco appeared on Shark Tank with his product and demanded $350,000 from the Sharks in exchange for 10% equity.
This field has a lot of competitors but Kevin says that this product is unique because it is a fully integrated system. In 2017 he joined the company as a distributor and is currently the owner of this global brand.
When Kevin saw its video, he wanted to be a part of it, so he took North American Distribution by giving $100,000.
Kevin took all the equity in this company through sales because Kevin was a “sales monster.”. His sales overwhelmed the company’s supply chain and they couldn’t pay him.
It completely owns this company, no one is its partner in the whole world. He first invested $100,000 in this company and later invested another $50,000, $200,000 through which he bought this company completely.
This company is the original Norway base and it operates in 20 countries all over the world. The cost of making these skis is $100 and it is sold for $350 to $400.
This company’s sale in 2016 was $238,000. When Kevin joined this company in 2017, its sale was $660,000.
In 2018, the sale of this company had become $ 977,000. ODR Skis projects were done in 2019 for $1.5 million.
Daymond John said I think this product is impressive but I do not like snowboarding. So for this reason he is out of this deal.
Lori Greiner believes that Kevin is great and so is his product, but she is not a skier, so she is out of the field.
Mark Cuban said that the founder is Kevin, you are a very good entrepreneur but I have not skied in my life.
Kevin O’Leary understands this ski file but says that a sale of $1.5 million in 2019 is a very small amount. Because this is a billion-of-value industry, so he cannot become an investor in this company.
Barbara Corcoran said that she liked this product a lot and it can be a game-changer, its price point is also good. She said that she is not able to trust it, so because of this, she is out of this deal.
What Happened To ODR Skis After Shark Tank?
The ski industry is a billion-off valuation, in this industry, there is a need for unique products like ODR Skis.
After this company was featured in Shark Tank, Shark praised this product and he liked it too but due to some reason he did not invest in it.
When that episode was released, a lot of changes were also seen in its sales, in which it had sold a million values in a few months.
The supply chain was completely closed due to the covid-19 pandemic, there are many people who fell victim to this problem, so this company is also there.
It did not have stocks in 2021, although stocks arrived in July 2021, its annual revenue is currently $2.5 million.
Where Can Buy ODR Skis?
ODR Skis are available both online and offline, you can buy them online through its website. It comes in two variants with different features for $399 and $449. You can buy it permanently on a rent basis.
It is being provided on a rent basis in top ski resorts in different countries like the United States.
What Is ODR Skis Net Worth?
ODR Skis were valued at $3.5 million in Shark Tank, now the company has generated revenue of $2.5 million. ODR Skis net worth could be around $3.5 million right now.
Is ODR Skis Still In Business?
Yes, ODR Skis is still doing business, and its revenue is also increasing slowly. Kevin should focus the most on its marketing.
The ski industry is worth a billion in this and there are many competitors in it, there is a need for marketing along with improving the product to make proven.
Images Credit: odrskis.com