The Original Stretchlace is an elastic shoelace and works like a regular shoelace it is just like lace-ups. This Stretchlace business appeared in Shark Tank Season 12 Episode 24 and asked the Sharks for $100,000 for 15% equity.
This “Stretchlace” can be used to replace any shoe with a slip-on. It’s quite simple it can happen with any shoe. This elastic shoe is comfortable and stretches quite well. Apart from this, it is easy for everyone to use it.
Jamie started this business in 2015 because she fell ill while tying her children’s shoes. Her husband David also helped a lot to make this business idea successful.
Most people do not focus much on shoelaces, but sometimes they have to face a lot of problems because of these shoelaces. shoelace is used to tie a shoe properly, but when it comes to taking off the shoes, it becomes difficult.
Having a good stretch shoelace makes it simple to take off the shoes, not much struggle is required for this. The solution to this problem is The Original Stretchlace elastic shoelace.
What Is The Original Stretchlace?
The Original Stretchlace is an elastic shoelace And through this, it becomes very easy to take off the shoes. This Lace supports things like bounce, stretch, jump, run, etc. Through this, all movement can be done no matter what the activity may be.
This elastic stretch shoe offers a classic look over the shoes and boots. This look is perfect for everyone like Athletes, Kids, Elderly and Mobility Impaired, Casual Dress, and many more.
It adjusts with the shoes much better than normal laces and provides a comfortable fit. This Lace comes in 9 different lengths and 15 colors. You can buy these Laces from Amazon or its website.
|Company Name||The Original Stretchlace|
|Founder||Jamie Montz and David Montz|
|Product||Shoelaces that switch your shoes from laced to slip-ons|
|Asked For||$100,000 for 15% equity|
|Final Deal||$100,000 for 30% equity|
|Episode (Shark Tank USA)||Season 12 Episode 24|
|Air Date||May 14, 2021|
|Business Status||In Business|
|Net Worth||$1 Million *estimated|
|Headquarters||Boise, Idaho, US|
|Go To Amazon||Buy Now|
Another Shark Tank Pitch
Who Is The Founder Of The Original Stretchlace?
The original Stretchlace is owned by Jamie Montz. Jamie was the Director of eCommrece at Amazon for Plant Therapy for 1 year and 5 months.
After studying Bachelor of Science, in Business Marketing from the University of Idaho, she became an MSN/Bing Marketing Manager for 2 years in Aquent.
Prior to this, she was the owner of Zeebi’s specialty retail store for 3 years. For 5 years, she used to be the Director, Category Management of Bodybuilding dot com.
When he started The Original Stretchlace business in 2015, she was doing it only part-time. In 2019, she left her job in Plant Therapy and started focusing full-time on her business.
Jamie’s husband David Montz is the CTO of Sunstate Equipment Co., LLC who joined it on Sept. 2022. David helps his wife a lot in this business.
David studied management at the University of Idaho and was also the founder of the retail store Zeebis.
Stretchlace Before Shark Tank
Jamie is an entrepreneur, she was running a retail store with her husband before starting her own Stretchlace business. Jamie had been thinking for a long time to start her own business, so she was also doing a lot of research.
She has worked in many companies from which she got a lot of knowledge about production, merchandising, marketing and innovation.
There was an accident with Jamie, when she was wearing shoes to her children, she had to struggle a lot, due to which she also became ill. That’s where he got the idea to design stretch Laces that would make the shoes easier to put on and take off.
This product became very popular among athletes and senior citizens as they need this product the most. This product is needed by everyone who especially likes to wear shoes.
Through this Stretchlace, children will no longer have much trouble wearing shoes. A lot of time will be saved for the parents as it will not take much time for the children to wear the shoes.
The paper in which this product is packaged for shipping is 100% recyclable.
Jamie is an Amazon product expert, she understands the Amazon algorithm very well. She listed her product on Amazon and after analyzing the keywords, volume & quality related to the product, marketing the product on Amazon.
Jamie wanted to grow her business internationally in the United States, so she decided that she would come to Shark Tank.
How Was The Shark Tank Pitch Of Stretchlace?
Jamie and David entered the Shark Tank episode and asked the Sharks for $100,000 for 15% equity at a $666K Valuation. They pitched the shark and told their story.
The making cost of each unit of this product is $1.49-$2.14 and it is sold for $9.99-$13.99, which is a pretty good merging. Last year his sales were $221,000. Their sales in 2020 so far are $165,000 (July to August). All these sales have come only online.
Due to Covid-19, there has been an impact on the suppliers, due to which they did not have inventory and sales also decreased.
All the Sharks were out after this pitch, however, Robert came again and offered $100,000 for 33% equity.
Entrepreneur countered 25% equity due to this there was no response from Robert again Entrepreneur countered 30% equity Robert agreed.
Finalize: Robert invested $100,000 in Stretchlace in exchange for 30% of the equity.
What Happened To Stretchlace After Shark Tank?
When Jamie pitched Shark Tank to invest in her business, all the sharks got out because of her pitch. However, Robert made up his mind to invest in this business and he invested $100k in it instead of 30% equity.
The Stretchlace business found an experienced partner like Robert. Robert has already made a lot of businesses successful. Jamie has also worked in many startups and has grown by marketing many businesses.
Jamie is an Amazon third-party sales expert and did great sales when she was the Director of eCommerce at Amazon for Plant Therapy.
She also marketed her Strech laces product very well on Amazon, due to which she got very good unexpected results.
Most of these orders come from Amazon and here they made million of dollars in revenue by selling only on Amazon. This Stretchlace has been rated by over 4,000 global buyers on Amazon. Most people have found this product value for money.
This product appeared in the View Your Deal Season 25, Episode 44 on November 2021.
As of September 2022, Stretchlace has not shared any information about the sales report after Shark Tank yet. Analyzing Amazon’s user rating, it seems that this company would be generating annual millions of dollars in revenue.
Stretchlace Shark Tank Update
Stretchlace got a successful deal in Shark Tank and Robert invested in this business. The sales of these comfortable Laces also increased significantly.
There is no exact proof as of September 2022 whether Robert has closed the deal with this business or not. The sales of this product on Amazon are getting very good.
She is expecting the founder to make her product available at Walmart, and Target by September 2022. Both of these are the most popular retail platforms and many people shop from them.
We have not yet received any information regarding the revenue of this business. When we get some information then this post will be updated.
What Is Stretchlace Net Worth?
This business signed a deal with Shark Tank at a valuation of $333K. We think Stretchlace net worth would be $1 million.
Is Stretchlace Still In Business?
Jamie started this Stretchlace in 2015 and she already had a lot of knowledge about it. Jamie is a sales expert, she has generated a lot of good sales through Amazon for her product. It understands Amazon’s algorithm, due to which it has been able to sell so well.
This Stretch Laces product is shipped in the United States as well as many international countries. They get more orders than their website only through Amazon.
This product has been rated by more than 4000 users on Amazon, out of which 71% of users have given 5-star ratings. Due to its good rating, the user gets a positive signal, due to which this product is selling even after being expensive.
This Shoelace is very good for those who have Parkinson’s disease, autism, or a broken hand, arm, foot, or leg problem.
Jamie is engaged in selling this product on other platforms so that this product can be reached more users. Jamie is currently working her business full time.
Yes, The Original Stretchlace is still in business as of September 2022.