The Original Stretchlace Before Shark Tank
The Original Stretchlace is a new way of tying one’s shoes without having to tie the shoes every time. This stretchy lace can be used to make any type of laced shoe into a slip-on shoe; after tying the lace once, consumers will be able to slide their shoes on and off without having to untie them first. The best part is, the laces won’t slip off even while the shoes are being slipped on and off. The Original Stretchlace works comfortably on shoes of all sizes without leaving the shoes feeling too loose or too tight. Additionally, the founder claims that these laces are great for improving ones blood circulation. The Original Stretchlace’s can be purchased through Amazon, Walmart, and the company’s official website for $10.99. They are available is a variety of different colors, as well as two types of laces: round laces and flat laces.
The founder of The Original Stretchlace is known by the name of Jamie Montz. She created the laces after getting frustrated by having to continuously tie her children’s shoes over and over again. Before creating a solution herself, Montz turned to the internet in hopes of finding a solution; however, there were none. Thus, leading her to create The Original Stretchlace. Prior to launching her business, Montz graduated from the University of Idaho with a degree in Business Marketing. She gained a bit of experience in e-commerce and entrepreneurship while she worked with Amazon as the Director of E-commerce. Montz launched The Original Stretchlace in 2015 with her husband, David Montz. Aside from helping Jamie with the business, David also works at a software company known as Appdetex, where he is the Chief Technology Officer.
Not long after launching The Original Stretchlace, Montz noticed them become increasingly popular among kids, athletes, and even senior citizens. Athletes were grateful for the alternative lace to help them with their blood circulation and comfort and senior citizens were raving about being able to independently put their shoes on without having to tie them. In 2019, Montz stopped working at Amazon and started working towards expanding her company full-time. This was her chance to put her knowledge of marketing and e-commerce to use. She started advertising The Original Stretchlace, leading her to gain positive feedback on the laces on Amazon. The Original Stretchlace was even featured in Forbes Red Tricycle, Real Simple Magazine, and Parade, among many more. Now, Jamie and David hope to get a shark’s assistance in expanding their lace business further.
The Original Stretchlace on Shark Tank
Jamie and David Montz appeared on Shark Tank in 2020, searching for a deal of $100,000 in exchange for a 15% equity in their company, The Original Stretchlace. After introducing themselves, the couple tells the sharks the story of how their company came to be. During this time, the sharks are analyzing their sample shoelaces. After hearing about the founders’ story, they appeared to be quite impressed; however, they also liked the business idea. From there, Jamie and David reveal that they have successfully done $165,000 in sales during the current year, while last year they did $221,000 in sales. The Original Stretchlace shoelaces cost them about $2.14 to manufacture, before being sold for between $9.99 and $13.99.
Robert Herjavec, who was very impressed by Jamie’s story, was the first shark to back out of the deal, after claiming the founder was a “20-year Amazon goddess”. It appears he was insinuating, saying that she was selling herself short by going on to sell shoelaces after her last career choice. Daniel Lubetzky agrees with Robert and drops out because he doesn’t agree with the data. Meanwhile, Lori Greiner countered Daniel with a disagreement to his statement. Nonetheless, she didn’t want to invest because The Original Stretchlace isn’t a company for her. Kevin O’Leary dropped out next. He stated that he believes Jamie and David are “shoelace cockroaches”. By this time, the only shark left was Mark Cuban.
Ultimately, Mark encourages the couple to continue their business without an investor; he doesn’t believe they need the help of one; therefore, he goes out. This meant that all the sharks had backed out and the Montz’s would be leaving without a deal. However, very last minute, Robert chimes back in to offer them $100,000 in exchange for a 33% equity in their company. Jamie and David attempt to counter the shark for a 25% equity. Robert then disagrees and states that he would like to help the Montz’s launch more products. The founders then counter once more with a 30% equity, which the shark agrees to. That said, Jamie and David left Shark Tank with a contract with Robert Herjavec.
The Original Stretchlace Now in 2023 – The After Shark Tank Update
Since Jamie and David Montz left the Shark Tank with a deal from Robert Herjavec, The Original Stretchlace business has been doing good. As of January 2023, the deal with Robert and the couple has yet to be completed. While there may not have been any recent revenue data released, their ratings on Amazon have increased. Thus, telling us that the sales are still going well. On Amazon, The Original Stretchlace has more than 3,000 positive reviews and it’s sitting at a solid 4.5-star rating. That being said, the Montz’s seem to be working on expanding their business further. Maybe we’ll see some new products being launched in the future.