Original Stretchlace is a unique and revolutionary product created by brothers Jamie Montz and David Montz on the popular entrepreneurial show Shark Tank.
The Original Stretchlace is an adjustable shoelace system that allows users to customize their shoe look easily. It’s designed to eliminate the need for knotting traditional laces and can be used on any shoe or sneaker.
This innovative product has been featured in various magazines and other media outlets since it first appeared on Shark Tank.
Original Stretchlace’s become increasingly popular due to its customizable design, which enables users to create different looks for different occasions at a fraction of the cost of buying multiple pairs of shoes.
Additionally, Original Stretchlace is durable enough to last through all weather conditions and wear and tear over time.
What Is Original Stretchlace?
The Original Stretchlace elastic shoelaces are designed to look like lace-ups and perform the same functionality as regular shoelaces.
Original Stretchlace can be used with any shoe to transform it into a slip-on, so the wearer can choose what shoes they like.
The Original Stretchlace is great for athletes and individuals with restricted mobility. This tool should be simple, comfortable, and fully support all actions.
|Company Name||The Original Stretchlace|
|Entrepreneur||Jamie Montz and David Montz|
|Product / Business||Slip-on laces that let you switch between laced and slip-on shoes|
|Investment Asking For||$100,000 for 15% equity in The Original Stretchlace|
|Final Deal||$100,000 for 30% equity in The Original Stretchlace|
|Episode||Season 12 Episode 24|
|Business Status||In Business|
Who Is The Founder Of Original Stretchlace?
The Original Stretchlace was founded by Jamie Montz in June of that year in Boise, Idaho, and opened its doors for the first time that month.
Montz previously worked for Plant Therapy as Director of Ecommerce and Bodybuilding.com as Director of Category Management, Aquent as Managing Director of MSN/Bing, Drugstore.com as Director of Category/Site Planning, and Macy’s in their department stores department as an assistant buyer.
Having graduated from the University of Idaho with a Bachelor of Science in Business Marketing, she is now a marketing educator. First-generation Korean-American Jaime Montz holds a bachelor’s degree, making her the first family member to achieve this achievement.
The entrepreneur decided to combine her side hobby with a full-fledged commercial venture after working in e-commerce for more than 20 years. The Original Stretchlace was invented due to the inventor’s experience with three boys at various stages of shoe-tying and her 17-year-old spouse. The innovation was developed and tested at home.
She credits her difficult upbringing with helping her become who she is today, and she believes that hard work, patience, and commitment will eventually lead you to your goals. The Original Stretchlace is an ethical and profitable business where clients are treated as family members and have direct access to the owner and staff.
Montz is convinced that hard work and perseverance, added to adaptability and a thick skin, will succeed over the naysayers.
Original Stretchlace Before Shark Tank
Stretchlace makes it possible to turn any laced shoe into a slip-on style with this unique method, eliminating the hassle of tying shoelaces. Entrepreneurs Jamie and David Montz discussed their innovative idea with the Sharks on their 24th episode of Season 12 of “Shark Tank.” They hope to receive a life-changing investment.
This useful product captured our attention, and we were curious about the company’s history and plans. The idea for the Original Stretchlace came to Jamie Montz when he saw it for the first time.
Jamie has worked in entrepreneurship and e-commerce throughout her career, having graduated from the University of Idaho with a degree in Business Marketing.
She gained valuable experience working in start-ups, which she applied to her eCommerce and frozen foods business, which she launched and quickly became successful at.
Jamie is an experienced e-commerce professional with more than 20 years of experience. He has also worked at Amazon as a Director of eCommerce. On the other hand, her husband, David, is the Chief Technology Officer of a thriving software firm, Appdetex.
When people feel frustrated or annoyed, they can come up with some of the most brilliant and original ideas they have ever had. Jamie became frustrated with having to tie the shoelaces of her children numerous times throughout the day.
She even hoped there would be a solution to the problem; none was to be found. Jamie’s entrepreneurial drive forced her to come up with the idea for the Original Stretchlace, although she could not sit still.
They could be worn with any footwear with laces, as the laces appear to be conventional shoelaces. It is a simple procedure since the user only has to prelace the shoes and tie the perfect knot. The user can then slip the shoe on without untangling the laces since the laces will be stretching out. The lace will also never come loose from the garment.
There are several advantages to using the Original Stretchlace. The most notable is that it provides a clean appearance and convenience without needing clips, buckles, or other fasteners.
Jamie also says that the elasticity of the laces makes it possible to fit any foot size comfortably and improves blood circulation over traditional lace-up shoes, which are too tight on the feet.
How Was The Shark Tank Pitch Of Original Stretchlace?
Jamie and David appeared on Shark Tank requesting an investment of $100,000 in exchange for a 15 percent stake in The Original Stretchlace.
“You’re a woman of 20 years on Amazon who sells a shoelace for $13,” Robert explains. “I’m out of here,” Mr. Wonderful says, referring to them as “shoelace cockroaches.” He has left.
Final Deal: Robert Herjavec agreed to invest $100,000 for a 30% stake in The Original Stretchlace.
What Happened To Original Stretchlace After Shark Tank?
While O’Leary and Cuban were about to walk off with a proposal for 33 percent equity, Robert walked back into the room. The executives agreed after Robert walked back into the room.
The Montz first countered Herjavec’s offer with a 25 percent equity stake before committing to a 30 percent stake in the company. With everything out of the way, let’s look at how the Montz family is doing right now in our next installment of The Original Stretchlace.
The Original Stretchlace’s popularity has only grown since the show’s premiere, which took place in May 2021 (based on the recording from August 2020). The Original Stretchlace has no sales statistics, but its products have received more than 3,000 reviews on Amazon, with an average rating of 4.5 stars.
The long history of The Original Stretchlace and the popularity of Shark Tank makes us doubt that we’ll get only better with each update to The Original Stretchlace.
Original Stretchlace Shark Tank Update
Now that we’ve gotten that out of the way, let’s check out how the Montz is doing these days in our most recent installment of The Original Stretchlace. The Original Stretchlace has continued to expand since the episode first aired in May 2021 (despite being taped in August 2020).
We do not have any information regarding their total sales, but we know that customers have rated their products on Amazon with an aggregate total of over 3,000 individual ratings, with an average rating of 4.5 stars.
We have no choice but to believe that the following iteration of The Original Stretchlace will improve all aspects, given the business’s success up until this point and the widespread appeal of the television show Shark Tank. The popularity of the Stretchlace has only grown in recent years.
Is Original Stretchlace Still In Business?
The Original Stretchlace was introduced in 2015. The product was initially designed for children, who would gain from a more convenient way to put on their lace-up shoes.
Jamie found that her products quickly became increasingly popular with older adults with declining motor abilities who previously could not wear lace-up shoes.
The Original Stretchlace also provided athletes with significantly more comfort and improved blood circulation in their feet than any conventional laces.
Jamie decided to leave Amazon and concentrate on growing her firm full-time instead of continuing her job at Amazon. She leveraged her advertising, marketing, and eCommerce expertise to improve her firm’s success and increase the popularity of her goods.
Customers have overwhelmingly praised the Original Stretchlace since its inception, and the company has been featured in numerous publications, including Real Simple Magazine, Parade, Forbes Red Tricycle, and the New York Times. In addition, the company has become a member of the JUNIPERunltd family.
The Original Stretchlace is available on Amazon.com in more than 100 countries and the United States. Shoelaces are packaged in environmentally friendly boxes made entirely of recycled paper.
The Original Stretchlac currently offers two kinds of laces: 1/4-inch flat and 3/16-inch round laces. A round lace is 3/16 inches wide, and a flat lace is 1/4 inch wide.
You can choose from various colors to match your outfit with elastic lace. You can order the laces directly from the company’s website or online retailers such as Amazon and Walmart for $9.99 or $10.99.
What Is the Net Worth Of The Original Stretchlace?
The valuation of The Original Stretchlace was $600,000 when it appeared on Shark Tank. The net worth of The Original Stretchlace is $1 million as of 2023.