David Montz and Jamie were having trouble. Jamie grew weary of always tying her children’s shoes. Every day was difficult. So they came up with a fix. They invented elastic laces that can be used to transform any shoes into slip-ons. Don’t tie your shoes anymore. Thus was born The Original Stretchlace. They went to Shark Tank with their concept.
Their goal was to receive $100,000 in exchange for 15% of their business. They wanted a Shark to help expand their company. They told their story and described how their elastic shoelaces operated on the show. Will the entrepreneur get a deal on Shark Tank? Check out our The Original Stretchlace update to find out!
The Original Stretchlace Net Worth Shark Tank Update 2025
David and Jamie Montz asked for a $100k investment in exchange for 15% equity in their company. This meant they valued their company at $666,667. They made a deal with Robert Herjavec for $100k in exchange for 30% of their company. This new deal valued their company at $333,333. After the show aired, The Original Stretchlace saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of The Original Stretchlace is about $533,333.
The Original Stretchlace expanded even further following Shark Tank. Their product gained a lot of popularity. Large retailers like Walmart and Target now carry it. You may get it on Amazon as well. The elastic laces are well-liked by those who have tried them. Online reviews for the business were very positive. People of many kinds use elastic laces. Jamie is one of those parents.
Athletes in particular want simple-to-use laces. Some are elderly and find it difficult to bend over. Many people have benefited from the product. etchlace is still operating. The company’s range of products has expanded as well. They now sell bow clips and straps without ties. They provide a variety of lace styles. Their customer base continues to grow year after year.
Indeed, David and Jamie reached a deal on Shark Tank. They requested $100,000 in exchange for 15% of their business. However, Robert Herjavec believed the proportion to be too low. He made a $100,000 offer for 33%. Jamie and David desired to spend more time together. They responded at 25 percent. Robert declined.
They then had another counterattack at 30 percent. Robert nodded this time. The $100,000 offer for 30% of the business was accepted by them. The pair won the deal. The only Shark to approach them with an offer was Robert. Although the other Sharks thought the product was good they did not believe it was appropriate for them.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Daniel Lubetzky | Out | N/A | N/A |
| Lori Greiner | Out | N/A | N/A |
| Kevin O’Leary | Out | N/A | N/A |
| Robert Herjavec | $100,000 for 33% equity | #1 $100,000 for 25% equity #2 $100,000 for 30% equity | Yes to 2nd offer |
| Mark Cuban | Out | N/A | N/A |
The Original Stretchlace Shark Tank pitch
Jamie Montz has children. Every day, she had to tie her children’s shoes. It was exhausting. She was looking for a simpler way to put on and take off her shoes. But she failed to identify a fix. So she made the decision to make one herself. That was the beginning of The Original Stretchlace. The business was founded in 2015 by her and her spouse, David. They initially believed that Jamie’s parents would be the only ones using the product.
However, they soon discovered that a lot of individuals may benefit from the product. The laces appealed to athletes. People who struggled with motor skills also found them helpful. Because they eliminated the need for them to stoop to tie their shoes even the elderly found them appealing.
Building the company, however, was not simple. At first, Jamie and David had numerous difficulties. Learning how to manage a business was necessary. They also needed to figure out how to get the word out about their offering. However, they did not give up and continued to work hard. They eventually achieved success.
Jamie and David described the operation of The Original Stretchlace on Shark Tank. They showed how any shoe could be made into a slip-on with elastic laces. It would be quicker and simpler to put on shoes this way. They gave the Sharks access to their sales figures. The cost to create the laces ranges from $1.49 to $2.14.
Their prices ranged from $9.99 to $13.99. They had made $221,000 in sales the previous year. However, their current sales were reduced as a result of COVID-19. That year, they anticipated earning $165,000. They want $100,000 in exchange for 15% ownership of their business. Their goal was to expand their client base and grow their company.
Jamie also talked about her previous experiences. She was previously Amazon’s Director of eCommerce. Her abilities impressed the Sharks. But they were also a little worried.
Regarding their product, Jamie and David received numerous questions from the Sharks. They were curious about the price of producing the laces. Jamie and David gave an explanation of their expenses and revenue. The product’s market was another area of interest to the Sharks. It was unclear whether consumers would be interested in purchasing elastic shoe laces. Jamie and David claimed that a broad spectrum of people could use their goods.
Lace is useful for parents of athletes, the elderly, and those with motor skill impairments. Their business plan was another question the Sharks posed. They were curious about Jamie and David’s plans for expanding the business. Jamie and David clarified that their goals were to increase online sales and get their product into more outlets.
A lot of attention was paid to The Original Stretchlace by Robert Herjavec. Jamie’s experience at Amazon impressed him. He was impressed by her determination and resolve. He made them an offer of $100,000 for 33% of their business. However, Jamie and David were hesitant to give up so much ownership. They replied at 25 percent. Robert declined.
At thirty percent, they countered once more. Robert accepted the arrangement this time. He offered the couple $100,000 in exchange for 30% equity, and they accepted.
None of the other Sharks made an investment. Kevin O’Leary said the offering lacked sufficient uniqueness. He thought they were overly fixated on this one thing, so he gave them the nickname “shoelace cockroaches.” Daniel Lubetzky didn’t think the pair had the determination to build the company into a major enterprise. Though Lori Greiner thought the product did not fit into her portfolio, she still liked it. Mark Cuban suggested they move forward freely without making any investments. Yet in the end, Robert gave a deal to Jamie and Davi,d and they left.
What Went Wrong With The Original Stretchlace On Shark Tank?
Despite their agreement, Jamie and David still had to overcome multiple challenges. A few Sharks did not see the product’s future potential. For Kevin O’Leary, the concept was not sufficiently original. He believed that in a crowded market it might not do well. Daniel Lubetzky questioned their spirit of enterprise. He was concerned that they might not make enough of an effort to expand the company.
Although Lori Greiner thought the product was nice, she didn’t think it was suitable for her. Mark Cuban believed they would succeed more on their own without him. Each of them had good reasons for not wanting to invest. They still had work to do despite their deal. They had to demonstrate the economic worth of their product.
Product Availability
Nowadays, you can find The Original Stretchlace in a lot of places. They are sold in stores and online to customers. Big-box stores like Walmart and Target sell them. They are also available on Amazon.com. The product is available in many hues and designs. Using the laces is simple. They make it easier to slide on any shoe. Clients like knots and tight laces, which are not a problem for them. The laces are priced between $9.99 and $13.99.
This is affordable for a lot of folks. They value the product’s convenience and quality. The company’s product line has also grown. They now provide a variety of accessories and laces. Growth like this demonstrates how well the business has adjusted to the market.
Conclusion
The Original Stretchlace’s Shark Tank trip has been a success. David and Jamie entered with a straightforward but effective concept. They expanded their company after striking a contract with Robert Herjavec. Since then, large retail outlets have carried their goods due to their growing popularity.
Their product range has been widened to accommodate client requests.
The future is bright for the organization. They stay creative and expand their audience. Their story demonstrates that everything is achievable with hard work and a sound concept. We may anticipate more fascinating updates from The Original Stretchlace as they go.
Hi, I’m Laiba Khurram, a BBA student specializing in Marketing at FAST NUCES ISB. My background includes experience in finance, marketing, and event coordination. My skills include teamwork, time management, and Microsoft tools. Watching Shark Tank has always inspired me, as I admire the innovative pitches and entrepreneurial spirit showcased on the show. This passion drives my approach to finding creative solutions and understanding market dynamics. Read more About me.
