The Original Stretchlace by Jamie and David Montz seeks to solve a relatable problem by turning any product with a laced shoe into a slip-on. The husband-and-wife duo headed into Shark Tank Season 12 to seek a new partner in the form of a $100,000 investment for 15% equity. At the end of their pitch, the two reeled in Robert Herjavec for $100,000 and 30% equity. Here’s a The Original Stretchlace update.
Shark Tank The Original Stretchlace Update
- Entrepreneur: Jamie and David Montz
- Business: Product that turns any laced shoe into a slip-on
- Ask: $100,000 for 15% equity
- Result: $100,000 for $30% equity
- Shark: Robert Herjavec
Before we go deep into our The Original Stretchlace update, let’s talk about what led to the creation of the product and how the pitch turned out. Just like every other mom, Jamie Montz found herself having to tie her kid’s shoelaces one too many times. She sought to find a solution to the problem and when she found none, she created one herself. The result was The Original Stretchlace.
- Replace Old Laces Instantly - Put your best foot forward when you use these elastic shoe laces. Our easy-to-use shoe strings are specially designed...
- Comfort Like No Other - These no tie shoelaces for adults and kids ensure maximum comfort with a stretchy yet secure, snug fit. Stroll, hike, and run...
- Stylish, Practical Flat Laces for Sneakers - Choose your fit and tie once with these elastic shoe laces for adults and kids. Our shoe strings for...
Along with her husband, David Montz, the two started selling stretchy shoelaces in 2015 and quickly found out that their product’s market was larger than they anticipated. From people with declining motor skills to athletes, their consumer base was huge.
By the time that they presented on Shark Tank in 2020, the business was running successfully enough that Jamie was able to resign from her post as the eCommerce Director at Amazon to run the business full time. The sharks were quite impressed with the company, but also with Jamie.
Robert Herjavec was the first to point this out, referring to Jamie as a “20-year Amazon goddess,” before going out. Kevin O’Leary, while impressed, referred to the couple as “shoelace cockroaches” and dropped out. Meanwhile, Daniel Lubtezky had a different take, questioning Montz’s drive as an entrepreneur before going out.
Lori Greiner disagreed with Daniel but felt that the product just wasn’t the right fit for her. Then, it was down to the Dallas Mavericks owner, Mark Cuban, who advised that the Montz’s would enjoy better success without an investor.
Just as the two were about to walk off the set, Robert came back in with a deal for 33% equity, much to the behest of O’Leary and Cuban. The Montz countered Herjavec’s offer at 25% equity before ultimately agreeing on 30%.
With that out of the way, let’s find out how the Montz’s are doing now in our The Original Stretchlace update. Since the episode aired in May 2021 (it was actually taped in August 2020), The Original Stretchlace has only continued to grow. While we have no sales figure available, we do know that their products have received a combined total of more than 3,000 ratings on Amazon with an average of 4.5 stars.
Given the popularity of Shark Tank and the successful foundation of the business, we can only assume that things are only going to get better in our next The Original Stretchlace update.
For more updates on companies featured on Shark Tank Season 12 Episode 24, be sure to check out:
For more on Shark Tank Season 12, be sure to check out our Season 12 Products page!