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Remyxx/ReKixx is a recycling service featured in Episode 15 of Season 03 of the television show Shark Tank. ReMyxx’s primary objective was to revolutionize how we manage and recycle waste, specifically sneakers.
Remyxx/ReKixx developed a system for recycling rubber-soled shoes, significantly contributing to landfill waste because they do not decompose naturally.
Remyxx/ReKixx was primarily known for its innovative process of disassembling used sneakers into their constituent parts. The sneakers were deconstructed into rubber, foam, and fabric, which could be recycled separately.
By creating a method to recycle these materials efficiently, Remyxx/ReKixx provided a sustainable solution for a type of waste that was previously largely unrecyclable.
Remyxx/ReKixx was considered a good choice because of its emphasis on environmental sustainability. With millions of sneakers ending up in landfills each year, Remyxx/ReKixx presented a way to reduce this waste and turn it into reusable materials.
The company’s initiative was about recycling and creating awareness about the importance of responsible waste disposal.
In addition, Remyxx/ReKixx’s recycling process opened up possibilities for creating new products from recycled materials, thereby supporting a circular economy.
Remyxx/ReKixx was an innovative solution to a significant environmental issue, offering a responsible way to recycle sneakers and reduce landfill waste.
Its contribution to environmental sustainability and potential for creating a circular economy made it a notable contender in the entrepreneurial landscape, as seen on Shark Tank.
| Company Name | Remyxx (Rekixx) |
| Founder | Gary Gagnon |
| Product | Recycled Sneakers |
| Investment Seeking | $50,000 For 10% equity in Remyxx/ReKixx |
| Final Deal | $50,000 For 80% equity in Remyxx/ReKixx |
| Shark | Daymond John |
| Episode | Season 3, Episode 15 |
| Business Status | Out Of Business |
| Website | Remyxx (Rekixx) Website |
| Net Worth | $0 |
What is Remyxx/ReKixx?
Remyxx/ReKixx is a footwear company that has gained recognition for its innovative approach to sustainability. It manufactures shoes made from recyclable materials, focusing on both fashion and environmental responsibility.
ReMyxx is a pioneering footwear company known for its eco-friendly approach to fashion. The brand crafts stylish, comfortable sneakers manufactured from 100% recyclable materials.
The brand aims to reduce waste and promote recycling by encouraging customers to return their worn-out shoes for recycling, creating a closed-loop cycle.
ReMyxx’s closed-loop system is one of its unique selling points. The company will accept worn-out sneakers for return once the customers are done with them.
ReMyxx then recycles these old shoes to create new ones, thus keeping the material out of landfills and promoting a circular economy.
ReMyxx’s commitment to sustainable practices extends beyond its products. The company also adopts eco-conscious strategies in its packaging and shipping operations.
ReMyxx’s shoes come in recyclable packaging, aiming to minimize carbon emissions in their delivery processes wherever possible.
The brand has been applauded for its innovative approach to sustainability in fashion, setting new standards for environmental responsibility in the industry.
Who is the Founder of Remyxx/ReKixx?
Remyxx/ReKixx was founded by an entrepreneur named Gary Gagnon. Before founding ReMyxx, Gagnon held several roles in the footwear industry, providing him with significant experience and insight into the business, manufacturing, and environmental impact associated with it.
Gagnon was always disturbed by the excessive waste generated by the shoe industry, especially knowing that these discarded shoes often ended up in landfills and were not biodegradable. From this concern, the idea of Remyxx/ReKixx was born.
He was inspired to find a way to recycle these shoes into reusable materials. Gagnon sought to develop a process that could effectively and efficiently deconstruct used sneakers into their basic components – fabric, foam, and rubber – which could then be recycled.
Before appearing on “Shark Tank,” Remyxx/ReKixx had already started making a name for itself in the recycling industry.
Despite the high costs associated with the recycling process, the company gained traction due to its unique proposition and the growing demand for sustainable solutions.
The main challenge for Remyxx/ReKixx was to balance the high recycling costs and generate enough revenues to sustain and expand the business.
This challenge led Gagnon to seek additional funding on “Shark Tank,” hoping an investment could help take Remyxx/ReKixx to the next level.
Gary Gagnon’s unique insight into the shoe industry and his passion for environmental sustainability led him to create Remyxx/ReKixx, a company dedicated to recycling used sneakers.
While the company faced challenges in balancing costs and revenues, it created a unique niche in the recycling industry and aimed to expand its reach with the help of Shark Tank.
How Was the Shark Tank Pitch of Remyxx/ReKixx?
Gary Gagnon, the founder of Remyxx/ReKixx, walked into the “Shark Tank,” aiming to secure an investment to expand his sneaker recycling business. He presented his case to the Sharks, detailing the company’s mission, process, and potential market size.
Gagnon sought $100,000 in exchange for 20% equity in ReMyxx, valuing Remyxx/ReKixx at $500,000. Gagnon explained how ReMyxx works during his pitch.
He emphasized the environmental impact, citing the millions of non-biodegradable shoes in landfills yearly. He explained that ReMyxx’s unique recycling process could deconstruct used sneakers into reusable rubber, foam, and fabric materials.
These materials could then be sold to companies that could repurpose them into various new products. The Sharks showed a mixed reaction to ReMyxx.
While they all appreciated the company’s environmental mission, some raised concerns about the business model’s profitability, given the high costs associated with the recycling process.
They also questioned the scalability of the operation and the potential difficulties in the collection of used shoes.
Despite these concerns, Daymond John, who has a background in the fashion industry and a particular interest in sneakers, saw the potential in ReMyxx. He liked the company’s mission and believed there was a market for this type of recycling.
After some negotiations, John offered $100,000 for 30% equity, a bit higher than Gagnon’s initial offer. After considering this, Gagnon agreed to the deal, partnering with John to expand ReMyxx’s footprint in the recycling and footwear industry.
The “Shark Tank” pitch for ReMyxx was successful, with Gary Gagnon securing an investment from Daymond John.
Despite some skepticism from the Sharks regarding the company’s profitability and scalability, the environmental mission of ReMyxx resonated with John, leading to a successful deal.
Final Deal: Daymond John agreed to invest $50,000 for an 80% stake in Remyxx.
Did ReMyxx Get a Deal on Shark Tank?
Yes, ReMyxx (later rebranded as ReKixx) did secure a deal on the popular show Shark Tank. In the Season 3 finale of Shark Tank, Gary Gagnon, the founder of ReMyxx/ReKixx, appeared on the show seeking a $50,000 investment in exchange for a 10% stake in his company.
During his pitch, Gary presented his innovative sneakers made from a proprietary blend of recyclable materials. He emphasized that the shoes were designed to reduce environmental impact while providing comfort and style.
The sharks raised concerns about the challenges of entering the competitive shoe market and questioned the scalability of the business.
Despite these concerns, Daymond John, a shark with experience in the fashion industry, recognized the potential of eco-friendly sneakers and believed in their market viability.
Daymond offered Gary $50,000 for an 80% stake in Remyxx, a more significant stake than Gary initially proposed.
After considering the offer, Gary accepted the deal and partnered with Daymond John.
However, following the airing of the Shark Tank episode, Daymond and Gary decided not to pursue the deal. Instead, Daymond offered to assist Gary in establishing Remyxx/ReKixx independently.
Gary launched a Kickstarter campaign to raise funds for manufacturing the sneakers, and the company was subsequently rebranded as ReKixx.
While ReMyxx/ReKixx initially seemed promising after securing a deal on Shark Tank, the brand faced challenges in gaining significant traction in the competitive sneaker market. The company eventually shut down its operations in 2017 due to insufficient funds.
What Happened To Remyxx/ReKixx After Shark Tank?
After securing a deal with Daymond John on Shark Tank, ReMyxx (later rebranded as ReKixx) faced several challenges in their journey.
Following the Shark Tank episode, Gary Gagnon rebranded the company from ReMyxx to ReKixx. The new name was chosen to represent the brand and the product better.
After partnering with Daymond John, the ReKixx team focused on product development, refining the design, and improving the manufacturing process to make the shoes more appealing and comfortable.
ReKixx sneakers were sold online through the company’s website for some time. However, the brand struggled to gain significant traction in the highly competitive sneaker market.
With limited marketing efforts and the challenges of introducing a new eco-friendly product to a crowded market, the sneakers did not achieve widespread popularity.
Despite the initial boost in sales and promotion after appearing on Shark Tank, Remyxx faced financial difficulties. The company was forced to shut down its operations and cease business in 2017 due to a lack of funds.
The ReKixx website is no longer active, and the brand’s social media presence has dwindled. This suggests that the company may no longer be operational or has been put on hold.
While ReMyxx/ReKixx initially showed promise and secured a deal with Daymond John on Shark Tank, the brand faced multiple challenges that ultimately hindered its success in the sneaker market.
The company’s inability to gain significant traction and financial difficulties led to its closure in 2017.
Remyxx/ReKixx Shark Tank Update
After appearing on Shark Tank, ReMyxx, later rebranded as ReKixx, faced a series of challenges and ultimately ceased operations.
The company, founded by Gary Gagnon, sought a $50,000 investment for a 10% equity stake and made a deal with investor Daymond John, who offered $50,000 for 80% of the company.
However, despite the initial investment and promising concept, ReMyxx could not achieve sales and corporate growth to sustain its business model.
The brand’s net worth eventually reached $0 and is no longer in business. The company’s Facebook page has been taken down, signaling the end of its operations.
Despite the setback, ReKixx continued to develop and promote its recycled sneakers, aiming to change how consumers view and approach sustainable footwear. However, the business faced insurmountable challenges and had to shut down.
The company’s innovative approach to producing eco-friendly and sustainable footwear was not enough to overcome the hurdles it encountered in the highly competitive footwear market.
The challenges included the need for significant capital to scale and develop the brand into a major competitor, as mentioned by the Sharks during Gagnon’s pitch on Shark Tank.
The journey of ReMyxx serves as a cautionary tale about the difficulties of establishing and maintaining a sustainable business model in the fashion and sports footwear industry.
Despite its commendable mission to promote sustainability within the footwear industry, ReMyxx could not overcome its obstacles and ultimately had to cease its operations.
Is Remyxx/ReKixx Still In Business?
Our research shows that ReMyxx, later rebranded as “ReKixx,” is no longer in business. Although the founder, Gary Gagnon, appeared on Shark Tank and initially received a deal from Daymond John, the deal did not hold up.
The company closed its doors in 2017. Despite this, Gagnon revealed that John offered him advice and support along the way. The initial Kickstarter campaign generated over $40,000 in sales, and the website and social media pages are still active.
However, Gagnon continues to work his day job in corporate sales while running ReKixx part-time. Business is growing slowly but steadily.
What Is the Net Worth Of Remyxx/ReKixx?
According to our research, the net worth of ReMyxx has been $0 since the company went out of business in 2017. The valuation of ReMyxx was $62,500 after securing an investment from Daymond John on Shark Tank.
