What is The Original Stretchlace? The Original Stretchlace is an innovative shoelace design that allows you to transform your shoes from traditional lace-ups to convenient slip-ons. This eliminates the need to constantly tie and untie your shoes, providing a hassle-free experience.
Summary
- The Original Stretchlace is a unique shoelace product that converts lace-up shoes into slip-ons.
- It was featured on Shark Tank Season 12, where the entrepreneurs sought $100,000 for 15% equity.
- They successfully secured a deal with Robert Herjavec for $100,000 in exchange for 30% equity.
- The product offers a practical solution for people who want the look of laced shoes without the inconvenience of tying and untying them.
The Original Stretchlace Shark Tank Update | Shark Tank Season 12
What is The Original Stretchlace?
The Original Stretchlace is a clever invention designed to transform any pair of lace-up shoes into easy slip-ons. They look and feel just like regular shoelaces, but they’re made with a unique stretchy material.
This means you can tie your shoes once and then slip them on and off without ever having to re-tie them. It’s a simple idea, but it solves a common problem – the hassle of constantly tying and untying your shoes.
The Shark Tank Pitch and Deal
The Original Stretchlace made a splash on Shark Tank Season 12, Episode 24. Entrepreneurs Jamie and David Motz entered the Tank seeking $100,000 for 15% equity in their business.
They impressed the Sharks with their product’s simplicity and practicality, ultimately securing a deal with Robert Herjavec for $100,000 in exchange for 30% equity.
| Entrepreneurs | Jamie and David Motz |
|---|---|
| Business | The Original Stretchlace |
| Ask | $100,000 for 15% equity |
| Deal | $100,000 for 30% equity |
| Sharks | Mark Cuban, Kevin O’Leary, Lori Greiner, Robert Herjavec, Daymond John |
| Season | Season 12 |
| Original Air Date | May 7, 2021 |
| Website | The Original Stretchlace |
| Key Points of Pitch |
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| Why Sharks Accepted |
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The Original Stretchlace
1. How it Works
The Original Stretchlace is remarkably simple to use. First, you replace your regular shoelaces with the stretchy ones. Then, you tie them like you would any other shoelace, but with a secure knot.
The magic happens in the stretch – the laces allow your foot to slide in and out of the shoe without needing to untie the knot.
2. Convenience and Time-Saving
Imagine never having to bend down and tie your shoes again. The Original Stretchlace saves you precious time, especially during busy mornings or when you’re on the go. They’re perfect for athletes, parents, kids, seniors, or anyone who values convenience.
3. Versatility and Style
The Original Stretchlace seamlessly blends with any shoe style, whether you’re wearing sneakers, dress shoes, or boots. They come in various colors to match your footwear, ensuring you maintain your personal style.
4. Durability and Quality
These laces are built to last. They are made from high-quality materials that can withstand daily wear and tear.
You can trust that your shoes will stay secure and comfortable, thanks to the durability of The Original Stretchlace.
The Shark Tank Experience
1. The Entrepreneurs’ Journey
Jamie and David Motz, the brothers behind The Original Stretchlace, entered the Shark Tank with a clear vision and passion for their product.
They shared their personal frustrations with traditional shoelaces and how their invention aimed to solve this everyday problem. Their enthusiasm and belief in their product were evident throughout their pitch.
2. The Sharks’ Feedback
The Sharks were intrigued by the simplicity and practicality of The Original Stretchlace. They recognized the potential market for the product, especially considering its appeal to a wide range of consumers.
While some Sharks raised concerns about the valuation and potential competition, others were impressed by the entrepreneurs’ drive and the product’s unique selling proposition.
3. Robert Herjavec’s Investment
Robert Herjavec, known for his investments in technology and consumer products, saw the value in The Original Stretchlace.
He connected with the entrepreneurs’ passion and believed in the product’s ability to disrupt the footwear industry.
His investment of $100,000 for 30% equity provided the company with the necessary capital and expertise to scale its operations and reach a wider audience.
The Shark Tank experience validated the Motz brothers’ vision and provided them with a platform to launch their product into the mainstream market.
It also showcased the power of entrepreneurship and innovation, inspiring others to pursue their dreams and bring their ideas to life.
The Original Stretchlace Update
1. Company Growth and Expansion
Since their successful Shark Tank appearance, The Original Stretchlace has experienced significant growth.
The investment from Robert Herjavec has fueled their expansion into new markets and increased their production capabilities.
They’ve also expanded their online presence and retail partnerships, making their product more accessible to customers worldwide.
2. Product Development and Innovation
The company hasn’t rested on its laurels. They’ve continued to innovate and improve their product line. They now offer a wider variety of colors and styles, catering to different tastes and preferences.
They’ve also explored new materials and technologies to enhance the performance and durability of their laces.
3. Customer Reviews and Testimonials
The Original Stretchlace has garnered positive feedback from customers across the globe. Users praise the convenience, comfort, and style of the laces.
Many appreciate the time-saving aspect, especially parents with young children or individuals with limited mobility. The positive reviews and testimonials further validate the product’s value and effectiveness.
The Original Stretchlace’s journey from a Shark Tank pitch to a thriving business is a testament to the power of a simple yet impactful idea.
Their commitment to quality, innovation, and customer satisfaction has propelled their growth and solidified their position in the market.
FAQs
How to Install The Original Stretchlace
Installing The Original Stretchlace is a breeze. Simply remove your old shoelaces and thread the stretchy laces through the eyelets like you would with any other laces. Tie a secure knot at the top, and you’re good to go!
Shoe Compatibility
The Original Stretchlace is designed to work with most types of lace-up shoes, including sneakers, dress shoes, boots, and more. However, it’s always best to check the product specifications or contact customer support if you have any concerns about compatibility.
Care and Maintenance
Caring for your Original Stretchlaces is simple. You can hand wash them with mild soap and water or toss them in the washing machine on a gentle cycle. Avoid using bleach or harsh chemicals. Air dry them completely before using them again.
Where to Buy
You can purchase The Original Stretchlace directly from their website or through various online retailers like Amazon. They are also available in select brick-and-mortar stores.
The Bottom Line
The Original Stretchlace has proven to be a game-changer in the footwear industry. It offers a practical and stylish solution to the age-old problem of tying and untying shoelaces. With its ease of use, versatility, and durability, it’s no wonder that it has gained popularity among people of all ages and lifestyles.
The success of The Original Stretchlace on Shark Tank and its subsequent growth is a testament to the power of innovation and entrepreneurship. It shows that even a simple idea can have a significant impact when executed well. If you’re looking for a way to make your life a little easier and your shoes a little more convenient, The Original Stretchlace is worth considering.
