The Original Stretchlace is an elastic shoelace designed for easy on-and-off access to shoes. This innovative lace supports activities such as bouncing, stretching, jumping, and running, allowing for freedom of movement regardless of the activity.
Offering a classic look suitable for shoes and boots, the Stretchlace is perfect for a variety of users, including athletes, kids, the elderly, and those with mobility impairments. It provides a superior fit compared to traditional laces, ensuring comfort during wear.
Available in 9 different lengths and 15 colors, these laces can be purchased on Amazon or through their official website.
| Company Name | The Original Stretchlace |
| Founder | Jamie Montz and David Montz |
| Founded | 2015 |
| Product | Shoelaces that switch your shoes from laced to slip-ons |
| Asked For | $100k for 15% equity |
| Final Deal | $100k for 30% equity |
| Shark | Robert Herjavec |
| Episode (Shark Tank USA) | S12 E24 |
| Air Date | May 14, 2021 |
| Business Status | In Business |
| Net Worth | $1 Million *estimated |
| Website | Visit Website |
| 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, who previously served as the Director of eCommerce at Amazon for Plant Therapy for 1 year and 5 months. She earned a Bachelor of Science in Business Marketing from the University of Idaho and began her career as a Marketing Manager for MSN/Bing at Aquent for 2 years.
Before launching The Original Stretchlace in 2015, Jamie owned Zeebi’s specialty retail store for 3 years and spent 5 years as the Director of Category Management at Bodybuilding.com. Initially, she ran The Original Stretchlace as a part-time venture until 2019, when she left her position at Plant Therapy to focus on her business full-time.
Jamie’s husband, David Montz, serves as the CTO of Sunstate Equipment Co., LLC, having joined in September 2022. He plays a significant role in supporting Jamie’s business. David studied management at the University of Idaho and is also a co-founder of Zeebi’s retail store.
How Was The Shark Tank Pitch Of Stretchlace?
Jamie and David Montz pitched The Original Stretchlace on Shark Tank, seeking $100,000 for 15% equity, which valued their business at $666,000. During their presentation, they shared their story and highlighted the product’s appeal.
The production cost for each unit ranges from $1.49 to $2.14, with retail prices between $9.99 and $13.99, indicating a healthy profit margin. Last year, their sales totaled $221,000, and they achieved $165,000 in sales from July to August 2020, all through online channels. However, the COVID-19 pandemic impacted their suppliers, leading to inventory shortages and a decline in sales.
After their pitch, all the sharks initially opted out. However, Robert Herjavec returned with an offer of $100,000 for 33% equity. Jamie and David countered with an offer of 25% equity, but Robert did not respond. Eventually, the entrepreneurs adjusted their counter to 30% equity, and Robert agreed to the deal.
Finalize: Robert invested $100,000 in Stretchlace in exchange for 30% of the equity.
Stretchlace Shark Tank Update
When Jamie pitched Shark Tank, all the sharks initially opted out. However, Robert Herjavec decided to invest $100,000 in The Original Stretchlace, agreeing to a different equity stake than the 30% proposed by Jamie and David. This partnership brought valuable experience, as Robert has a history of successfully growing businesses.
Jamie is an expert in third-party sales on Amazon and excelled in her role as Director of eCommerce at Plant Therapy, where she achieved impressive sales. She effectively marketed her Stretchlace products on Amazon, resulting in significant revenue, with most orders coming from that platform. The product has received over 4,000 ratings on Amazon, with many customers finding it to be a great value.
The Stretchlace was featured on View Your Deal in Season 25, Episode 44 in November 2021. As of September 2022, there has been no updated sales report from Stretchlace since their appearance on Shark Tank. However, based on Amazon ratings, it’s reasonable to infer that the company is generating millions in revenue.
While it remains unclear whether Robert finalized the deal, sales on Amazon continue to perform well. Jamie expressed hopes of making her product available at Walmart and Target by September 2022, both of which are popular retail platforms.
We have not yet received any updates regarding the revenue of this business, but we will provide updates as more information becomes available.
What Is Stretchlace Net Worth?
The Original Stretchlace secured a deal on Shark Tank at a valuation of $333,000, and it is estimated that the company’s net worth could be around $1 million.
Founded in 2015, Jamie leveraged her extensive sales expertise to generate significant revenue through Amazon. Her understanding of Amazon’s algorithm has contributed to the product’s success.
Stretchlace products are shipped within the United States and to many international locations, with the majority of orders coming through Amazon rather than the company’s own website. The product has received over 4,000 ratings on Amazon, with 71% of users giving it a 5-star rating. This positive feedback boosts consumer confidence, helping sales despite the product’s higher price point.
The shoelaces are particularly beneficial for individuals with Parkinson’s disease, autism, or mobility issues due to injuries affecting their hands, arms, feet, or legs.
Yes, The Original Stretchlace is still in business as of April 2024.
