The Original Stretchlace, a unique product that turns any laced shoe into a slip-on, has had an exciting journey since its appearance on Shark Tank in 2021. Founded by husband-and-wife duo Jamie and David Montz, The Original Stretchlace has seen significant growth and success, making it a fascinating case study in entrepreneurship and product innovation. From their initial Shark Tank pitch to their current retail presence and estimated net worth, let’s dive into the story of this remarkable company.
Who is The Original Stretchlace?
The Original Stretchlace is a shoe accessory created by Jamie and David Montz. It is a stretchy shoelace that allows users to easily slip their shoes on and off without having to tie or untie traditional laces. Jamie, a busy mom, grew frustrated with constantly having to tie and retie her kids’ shoes. Recognizing this as a common pain point, the Montzes sought a solution and launched The Original Stretchlace in 2015.
Who Is The Founder Of The Original Stretchlace?
Jamie and David Montz, a husband-and-wife entrepreneurial team, founded the Original Stretchlace. Jamie Montz, the driving force behind the product, had previously worked as the eCommerce Director at Amazon before leaving to focus on The Original Stretchlace full-time. Her experience in the e-commerce space proved invaluable as the couple worked to grow their business.
| Entrepreneurs | Jamie and David Montz |
|---|---|
| Business | The Original Stretch lace (Elastic shoelaces) |
| Ask | $100,000 for 15% equity |
| Deal | $100,000 for 30% equity (Robert Herjavec) |
| Other Sharks | Lori Greiner, Mark Cuban, Kevin O’Leary, Daniel Lubetzky – No offers |
How Was The Shark Tank Pitch The Original Stretchlace?
The Montz’s appeared on Shark Tank Season 12 in 2021, seeking a $100,000 investment in exchange for a 15% equity stake in their company. During their pitch, they highlighted the versatility and practical benefits of The Original Stretchlace and the product’s impressive profit margins. While some Sharks were initially skeptical, Robert Herjavec saw the potential in the business and the couple’s abilities. Ultimately, Herjavec offered $100,000 for a 33% stake, which the Montzes negotiated down to a 30% equity stake.
The Original Stretchlace Shark Tank Update:
Following their successful Shark Tank appearance, The Original Stretchlace has continued to grow and expand. While the deal with Robert Herjavec ultimately did not come to fruition, the Montz have found success through other channels. The Original Stretchlace products are now sold in major retail stores such as Walmart and Target and on Amazon, where they have amassed over 6,000 reviews with an average rating of 4.5 stars.
| Business Status | Sold in Walmart, Target, and other retail stores |
|---|---|
| Sales Channels | Amazon, own website |
| Product Line | Expanded to include tie-less straps, bow clips, various lace styles |
| Customer Feedback | Average 4.5 stars on Amazon from over 6,000 reviews |
| Achievements | Featured in major media outlets like BuzzFeed, Scary Mommy, and Simple |
What Happened To The Original Stretchlace After Shark Tank?
After leaving the Shark Tank with a deal from Robert Herjavec, The Original Stretchlace faced the challenge of actualizing the investment and leveraging it to take the business to the next level. While the agreement with Herjavec ultimately did not materialize, the Montz could find success through other avenues.
They expanded their product line to include accessories like tie-less straps and bow clips and secured distribution in major retail chains like Walmart and Target. The company’s presence on Amazon and thousands of positive customer reviews have also been significant growth drivers.
The Original Stretchlace Net Worth:
Given the lack of publicly available financial information, it isn’t easy to pinpoint The Original StretchStretchlace’snet worth. However, industry experts estimate the company to be around $1 million, based on its steady growth, expanded product offerings, and distribution in major retail channels. The Shark Tank exposure and Montz’sMontz’s track record in e-commerce and entrepreneurship suggest that The Original Stretchlace is a thriving and valuable business.
The Original Stretchlace Growth and Operations:
Since its Shark Tank appearance, The Original Stretchlace has continued to expand its operations and product line. In addition to its flagship stretchy shoelaces, the company now offers a variety of accessories, including tie-less straps and bow clips, allowing it to cater to a broader customer base. The company’s presence in major retail outlets like Walmart and Target and its impressive sales and reviews on Amazon indicate that The Original Stretchlace is well-positioned for continued growth and success.
The Original Stretchlace Marketing and Sales:
The Original Stretchlace has effectively leveraged various marketing channels to drive sales and awareness of its products. Its Shark Tank appearance provided significant exposure, leading to increased visibility and sales.
Additionally, the company has maintained a solid social media presence, particularly on platforms like Instagram and Facebook, where it engages with its customer base and showcases new product offerings. The positive reviews and high ratings on Amazon have also been a significant factor in its marketing and sales success.
| Founder Background | Jamie Montz resigned as eCommerce Director at Amazon to focus full-time on The Original Stretch lace. |
|---|---|
| Revenue Information | Sales figures post-Shark Tank not disclosed, but continued growth indicated |
The Original Stretchlace Social Media Presence:
The Origcompany has robust social media followings and active accounts on platforms like Instagram and Facebook. They use these channels to showcase their products, engage with customers, and share updates on the company’s growth and new offerings. The company’s social media following and engagement levels suggest that they have effectively leveraged these platforms to build brand loyalty and drive sales.
The Original Stretchlace Interesting Facts:
- The Origicompanycompany’swas founded in 2015 by husband-and-wife Jamie and David Montz duo.
- Jamie Montz previously worked as the eCommerce Director at Amazon before leaving to focus on The Original Stretchlace full-time.
- The company’s products are now sold in maWhat’stWhat’sores like Walmart and Target, and on Amazon, where they have over 6,000 positive reviews.
- The Original Stretchlace has expanded its product line to include accessories like tie-less straps and bow clips.
What’s Next For The Original Stretchlace?
As The Original Stretchlace continues to grow and expand, the future looks bright for the company. With their proven track record of innovation, solid retail partnerships, and impressive customer reviews, the Montz’s are well-positioned to further cement The Original Stretchlace as a leading player in the shoe accessory market. Whether through continued product line expansions, strategic partnerships, or expanding their presence in additional retail channels, the possibilities for The Original Stretchlace’s continued success are endless.
Final Words:
The journey of The Original Stretchlace is a testament to the power of innovation, persistence, and entrepreneurial spirit. Despite the initial challenges faced on Shark Tank, Jamie and David Montz have proven their ability to navigate the complexities of building a successful, growing business.
With their impressive net worth, expanding operations, and strong customer following, The Original Stretchlace is an inspiring example of what can be achieved through hard work, creativity, and a relentless pursuit of solving real-world problems.
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