GloveStix is a product that appeared on Shark Tank, a popular television show where entrepreneurs pitch their ideas to a panel of investors. The product is a portable and easy-to-use device that helps to eliminate odor from sports equipment, such as gloves, shoes, and helmets.
GloveStix is a revolutionary product featured on ABC’s hit show Shark Tank. Krista Woods developed the innovative technology to address one of the most common problems athletes face – sweaty hands.
GloveStix is specially designed for deodorizing and drying sticks that fit into any glove or cleat, helping prevent bacteria growth and odor caused by sweat.
GloveStix can help keep athletes’ hands dry and smelling fresh for up to 24 hours after use by absorbing moisture from the air inside a shoe or glove. Furthermore, the product contains bamboo charcoal and silver nanoparticles that effectively fight bacteria that cause odors in sports gear.
Additionally, GloveStix is reusable and easily cleaned with soap and water for continued use throughout the season.
What Is GloveStix?
GloveStix is a proprietary solution that eliminates odors and moisture from athletic equipment such as boxing, hockey, baseball, and lacrosse gloves. A pair of plastic sticks with “silver ions” embedded in them are responsible for absorbing liquid and neutralizing odors.
GloveStix is a revolutionary product that is taking the industry by storm. It is an innovative new product featured on the hit show Shark Tank and is quickly becoming the go-to solution for athletes, fitness fanatics, and anyone looking to keep their gear fresh and odor-free.
GloveStix is a patent-pending product that freshens gloves, helmets, and other sports gear. The product utilizes a moisture-absorbing, non-toxic material to wick away moisture and sweat from the gear while eliminating odors.
GloveStix is designed to be inserted into the gear and is easily removable when it needs to be cleaned or replaced. GloveStix is easy to use and is designed to last a long time. It is also environmentally friendly and is made with a non-toxic, moisture-absorbing material.
GloveStix is designed to eliminate odors and help keep gear fresh and odor-free. It is also designed to be used repeatedly, so users don’t have to keep buying new products.
GloveStix is quickly becoming the go-to solution for athletes and fitness fanatics looking for an effective and convenient way to keep their gear fresh and odor-free. The product is easy to use and is designed to last a long time.
GloveStix is also environmentally friendly and is made with a non-toxic, moisture-absorbing material. If you’re looking for an innovative way to keep your gear fresh and odor-free, GloveStix is the perfect solution.
|Product / Business||Gloves and shoe deodorizing sticks|
|Investment Asking For||$150,000 for 10% equity in GloveStix|
|Final Deal||$150,000 for 17.5% equity in GloveStix|
|Shark||Alex Rodriguez and Lori Greiner|
|Episode||Season 9, Episode 9|
|Business Status||In Business|
Who Is the Founder Of GloveStix?
Krista Woods is the founder of GloveStix. GloveStix was showcased on “Shark Tank.”. It eliminates unpleasant odors from your gloves. This product is advertised as keeping your gloves smelling fresh and preventing bacteria growth.
GloveStix is designed to be worn inside the glove, where they work by soaking up the sweat and germs that are the root of unpleasant odors. This product is suitable for use with any glove, including leather gloves, baseball mitts, and gloves used for gardening.
The effectiveness of Glovestix has been called into question by several customers. However, other customers claim that the product needs to be fixed to remove odors from their gloves, even though some believe it does an outstanding job. There have also been a few comments about the product’s cost.
Glovestix is the name of both the product and the firm that developed it, which has its headquarters in the United States. Amy Hockert and Michelle Sacco are the two women who founded the company.
Glovestix was developed specifically for gloves, which makes it different from other deodorizing products on the market. Other items on the market are designed to perform the same function, but they were not developed with gloves specifically in mind.
GloveStix Before Shark Tank
Krista Woods had a lot of experience with odor-related problems. Her children were already very athletic before they started playing lacrosse together. She experimented with various approaches, but none were effective enough or felt healthy.
She decided to devise her tactic, which resulted in the creation of GloveStix. She educated herself on the fundamentals of manufacturing, online commerce, logistics, and product development.
According to their website’s about page, it was less than a year before Krista could sell her idea. She has been engaging in that activity since 2015.
She shared with Lori that she had successfully sold the product on QVC several times before it was accepted onto the show Shark Tank. If that happens, she might get the boost in confidence she needs to secure funding for GloveStix.
How Was the Shark Tank Pitch of GloveStix?
Krista Woods appeared on Shark Tank, requesting an investment of $150,000 in exchange for a 10% stake in GloveStix. Glovestix and Shoestix feature a plastic coating with silver ions embedded in them.
The coating will hinder 99% of the growth of any odor-causing bacteria in just one day. Many sporting equipment have inserts inside the tubes that absorb moisture and eliminate odors.
In the past year and a half, the company has made $ 56,000 worth of sales, while the company made four hundred thousand dollars last year. She sells her handmade items both on her website and on Amazon.
She also appears on QVC, claiming that she followed Lori Greiner around the lunchroom in the past.
There is more to her than just a one-time sale. Glovestix, her primary product, can be purchased for $29.99 and refills for $7.99.
Glovestix now offers a membership for their Shark Tank show. Only four days before her appearance on Shark Tank, Krista was granted the patent for her company’s Glovestix product.
The stick’s interior contains a moisture-absorbing stick that can be replaced. The only item on the market that eliminates bacteria and draws moisture out, like Kevin O’Leary’s cedar inserts, makes it stand out from others.
Recently, the business was granted a patent and generated $506,000 in sales over the past year and a half. GloveStix can be purchased online from the company’s website and Amazon. Additionally, the product has been sold on QVC.
There is a steady stream of revenue thanks to the product requiring periodic replacement of an insert. Krista is in the tank with the sharks because she is interested in expanding the market for this product and believes that the sharks can assist her. She requires assistance with delegating responsibilities and requires competence in this area.
Mark Cuban decided not to continue because he perceived Krista as a micro-manager. Barbara Corcoran didn’t like the product; therefore, she decided to withdraw from the competition.
Alex Rodriguez, who was participating as a Guest Shark, and Lori Greiner formed a partnership and offered $150,000 in exchange for 20%.
In response, Krista offered 150,000 for a 15% stake in GloveStix. After Alex’s counteroffer of $150,000 for a 17.5% stake in GloveStix, the two agreed to a deal.
Final Deal: Lori Greiner and Alex Rodriguez agreed to invest $150,000 in exchange for a 17.5% stake in GloveStix.
What Happened To GloveStix After Shark Tank?
Krista made an additional purchase of goods totaling $80,000 to get ready for the massive increase in sales that typically occurs after a product is featured on the television show “Shark Tank.”
According to an interview published in Business Journals, she was curious to know if this deal was final yet. By November 2017, she was still negotiating with the Sharks, hoping the contract would be finalized. At that time, she was considering hiring an assistant and starting to get a salary.
In February of 2018, Krista shared with Business 2 Community that since the program aired in November and continued through January, she had worked tirelessly to close sales. GloveStix will keep expanding in the future.
GloveStix Shark Tank Update
GloveStix may be purchased on both the company’s website and Amazon. GloveStix has maintained the same business plan that it had at the time of its episode, and they have yet to enter the retail market.
The products are mostly unchanged from when they were featured on the show; the only difference is that the ShoeStix has been rebranded as StankStix. They still have the insert that will need to be changed at some point throughout the product’s lifespan.
However, while researching for the update, we learned that the deal made by Alex and Lori on Shark Tank with GloveStix was never finalized.
Despite this, the product has had a reasonable amount of commercial success. GloveStix’s annual revenue is greater than one million dollars, which has been highlighted on The Today Show.
Is GloveStix Still In Business?
The appearance of GloveStix on Shark Tank was a huge success. Krista Woods impressed the investors with their pitch and secured a deal with two sharks, Lori Greiner and Alex Rodriguez. The two sharks invested $75,000 in exchange for 15% equity in the company.
After the show aired, GloveStix received a massive surge in demand. The exposure on Shark Tank helped bring the product to a wider audience, quickly becoming a popular choice for athletes and parents looking to eliminate odor from their sports equipment.
GloveStix has continued to grow and expand its product line since its appearance on Shark Tank. The company now offers a range of products designed to eliminate odor from sports equipment, including StankStix, specifically for shoes, and HelmetStix, designed for helmets.
Overall, the appearance of GloveStix on Shark Tank was a huge success. The exposure helped the company to grow and expand its product line, and the investment from Lori Greiner and Alex Rodriguez provided the funding needed to make this growth possible.
Today, GloveStix is a well-known and respected brand in the sports equipment industry, and its products are used by athletes and parents worldwide. GloveStix is still in business as of 2023 and has been doing well.
What Is the Net Worth of GloveStix?
The valuation of GloveStix was $1.5 million when it appeared on Shark Tank. The net worth of GloveStix is $2 million as of 2023.