SneakErasers is a unique dual-sided sponge designed specifically for cleaning sneakers. Featured on Shark Tank Season 12 Episode 23, this sponge can clean up to 9 pairs of shoes with a single unit.
The sponge is white and orange, with the orange side made of super-soft chamois, suitable for delicate or sensitive materials. This design allows sneaker enthusiasts to clean their shoes anywhere easily.
Sneaker lovers, especially those with high-end brands like Louis Vuitton, Gucci, and Christian Louboutin, often want to maintain their shoes’ pristine condition. The SneakErasers sponge helps remove stains and dirt quickly, without water, in just a few minutes, depending on the stain size.
The global footwear market, valued at $365.5 billion in 2020, is growing steadily, indicating a strong demand for effective shoe care solutions.
Chris Pavlica and Kevin Consolo, the founders of SneakErasers, sought $200,000 for 8% equity on Shark Tank. Lori Greiner and Alex Rodriguez invested $200,000 each for 10% equity, totaling 20% equity.
Founded in 2016, SneakErasers, a subsidiary of FTI Brands LLC, focuses on shoe care and accessories. The dual-sided sponge features a white micro-scrubber side for removing scuff marks and an orange chamois side for complete cleaning. Each sponge can clean 9 pairs of shoes and is portable for convenience.
SneakErasers also offers additional products, including the Sneakerasers Bundle, AutoErasers Bundle, GolfErasers Bundle, PurseWipes + Bundle, and Auto/Golf Combo, all available on Amazon.
| Company Name | SneakErasers |
| Founder | Chris Pavlica and Kevin Consolo |
| Founded | 2016 |
| Product | clean-tech erasers that clean your shoes |
| Asked For | $200k for 8% equity |
| Final Deal | $200k for 20% equity |
| Shark | Lori Greiner and Alex Rodriguez |
| Episode (Shark Tank USA) | S12 E23 |
| Air Date | May 7, 2021 |
| Business Status | In Business |
| Net Worth | $1 Million *estimated |
| Website | Visit Website |
| Headquarters | Upper Arlington, Ohio, US |
| Go To Amazon | Buy Now |
Another Shark Tank Pitch
Who Is The Founder Of SneakErasers?
Chris Pavlica is an entrepreneur and film director who founded FTI Brands LLC, the parent company of SneakErasers. After completing his studies at Ohio University in 2007, Chris worked as a film director at BRC Imagination Arts for 13 years.
In 2008, he started Pavlica Inc. in Los Angeles, serving as the executive producer. In 2016, he founded FTI Brands LLC, motivated by the challenge of keeping his shoes clean.
Kevin Consolo is the Co-Founder and COO of FTI Brands LLC, having joined the company in 2019. He studied marketing at Ohio University and began his career as a communications coordinator at Nationwide Better Health.
Kevin then worked in various roles at ECRM for seven years before becoming a National Account Manager at The Unknown Brewing Company, a position he held until 2019.
How Was The Shark Tank Pitch Of SneakErasers?
Founders Kevin Consolo and Chris Pavlica entered Shark Tank with SneakErasers, seeking $200,000 for 8% equity at a $2.5 million valuation. They demonstrated their product and shared its innovative story, while also engaging with Barbara Corcoran.
The SneakErasers sponge costs $1.98 to produce and is sold for $9.99. A single unit is available at Walmart for $3.99. They tested the product in 100 retail stores over 4 to 5 months.
Initially, Chris invested $300,000 from a home equity line of credit. As of the most recent update, he is debt-free. In 2019, the business earned $202,000, and by the end of 2020, they projected sales of $1.8 million, with 12% of sales coming from e-commerce.
Kevin O’Leary offered $200,000 for 15% equity. Chris found this offer too steep and declined. Barbara Corcoran, preferring to focus on other products, also opted out.
Lori Greiner and Alex Rodriguez teamed up to offer $200,000 for 20% equity. Mark Cuban showed interest and proposed $200,000 for 12.5% equity. Chris and Kevin countered with $300,000 for 10% equity, which Mark declined.
Ultimately, Chris and Kevin accepted Lori and Alex’s offer of $200,000 for 20% equity.
Finalize: Lori & Alex invested $200K in SneakErasers in exchange for 20% of the company’s equity.
SneakErasers Shark Tank Update
SneakErasers achieved remarkable success following its appearance on Shark Tank. The product, designed to clean dirt from shoes, gained significant popularity, leading to over half a million sales through Amazon and its website within the year.
The SneakErasers product became widely recognized after being featured on Good Morning America and included in Amazon’s 2022 Father’s Day Gift Guide.
The Instant Sole & Sneaker Cleaner has become an Amazon best-seller, with thousands of units sold. The product is also available in various retail stores, including Kroger, Walmart, Costco, and others. In March 2022, SneakErasers announced via Instagram that its products were now available in Coles supermarkets in Australia.
By September 2022, the brand’s lifetime annual revenue was approximately $5 million. The success of the Shark Tank episode, combined with effective advertising, contributed to the company’s growth and widespread recognition.
What Is SneakErasers Net Worth?
The annual revenue of SneakErasers was estimated at $5 million in 2022. The company had secured a deal on Shark Tank for $1 million, which contributed to its valuation. Despite this, the company’s net worth is expected to be around $1 million.
Following the Shark Tank episode, SneakErasers experienced a temporary boost in sales, but growth has since slowed. The company is currently facing challenges due to increased competition, as many new brands have entered the market with similar products.
Alternative products, such as AutoERASERS and others, are now available on Amazon, further intensifying competition in the sneaker cleaning market.
Yes, SneakErasers is still in business as of July 2024.
