Here's What Went Down With The Original Stretchlace After Shark Tank

If you wear shoes with laces, then you know that they can sometimes stand in the way of getting your feet out the door in a timely manner. And if you have kids you need to dress, then you doubly know how annoying it can be. Jamie Montz, a mother of three, knew this struggle all too well and wanted to do something about this inconvenience. 

"I'm hunched over while we're in a rush trying to get out the door, and my purse is falling off my shoulder, and things were falling out of it," Montz told East Idaho News in 2021. "Every day it was crazy, and I'm thinking, 'There has to be a better option with their shoes.'" When she realized she couldn't find what she wanted on the market, Montz decided she'd make her own stretch laces that essentially turns every shoe — even boots — into a slip-on.

But like anyone with a great idea, she needed capital to take her company, The Original Stretchlace, to the next level. So, in 2020, she and her husband, David, did what hundreds of others have done before: They went into the Shark Tank hoping to get some investors for their business.

Wearing matching t-shirts that advertised their brand, the Montzs talked up their "Shark Tank" Season 12 pitch by pointing out how regular shoelaces can be problematic because they don't stretch. They touched on how regular shoe laces frequently need to be tied over and over again throughout the day. David them explained that the Stretch Lace can "elevate the function of your shoes by turning your tie shoes into slip-ons." He then showed the sharks how the specialty accessory allowed him to quickly get in and out of his sneakers, boots, and back into his sneakers again within 10 seconds. This left the Sharks impressed. Jamie then pointed out that each lace set was sold at a price point between $9.99 and $13 dollars, though they only cost a few dollars to make.

Then it came time to talk about landing a deal. The Montzs asked for $100k in exchange for 15% of their company. Robert Herjavec was the first one to decline, saying to Jamie, "You're a 20-year Amazon goddess, selling a 13-dollar shoelace. I'm out." Then, moments after Mark Cuban pulled out, Herjavec had a change of heart, voicing his belief in Jamie. He then offered them the investment they ask for, but on the condition he'd get 33% of the company. In response, the Montzs came back asking if it could be lowered to a 25% stake instead. Ultimately, everyone came to a deal in the end, with Jamie and David walking away with $100k, while Herjavec  got 30% stake in The Original Stretchlace

Not long after its appearance on Shark Tank, The Original Stretchlace found its way into Walmart and Target. At the time of writing, the product has over 5,400 reviews on Amazon, with 73% being five-star ratings. They also got quite a bit of coverage. In March 2021, Real Simple included The Original Stretchlace as part of their "6 Clever Items to Simplify Your Life" and in October 2022, they made it onto Scary Mommy's "15 Super Clever Products On Amazon That Were Obviously Invented By Moms" roundup. The Original Stretchlace also found themselves on a handful BuzzFeed shopping lists, as well as several other sites, some of which showcase products that make the lives of those living with disabilities easier.

Although The Original Stretchlace didn't see the massive traction that some businesses get after appearing on Shark Tank, they still did fairly well for themselves. Just landing in Walmart and Target, in addition to Amazon, speaks volumes to the public's interest in the product.

As of 2024, The Original Stretchlace is still in business and has expanded its line of products. While the brand still only offers laces, it appears the product line has expanded. Currently, there are round, flat, quick lock, tieless, and dress laces available for purchase, as well as bow clips to prevent laces from coming untied.

Interestingly, unlike a lot of businesses, The Original Stretchlace doesn't appear to use social media as a means to get the word out about their products. Not only do they have fewer than 4k followers on Instagram, but their last post is from February 11, 2023. On top of that, there's practically zero evidence of engagement on their page except for a post from years ago. However, this doesn't seem to be standing in the way of their success. Although the exact figures about company's profits aren't available, based on Montz's LinkedIn page, The Original Stretchlace seems to be doing A-okay. 

As Robert Herjavec made clear when he agreed to invest in The Original Stretchlace, it wasn't so much the product, but the woman behind the product in whom he believed. He did call her a "20-year Amazon goddess," after all. While there's no word yet about what's next for Jamie Montz, she definitely knows who she is and what she wants.

"I'm at a point in my life where I'm less fearful of taking calculated risks," Montz told Home Business Magazine in 2019. "Being an entrepreneur is what I was born to do, and it's taken me up until now to be brave enough to actually go through with it." She also told the outlet that she felt prepared to take on whatever hurdles would come her way with her business. "I get the most enjoyment and satisfaction out of solving complex problems," she said. "It's not enjoyable while going through it but the rewards are worth it." In other words, Montz is right on track and probably has another invention in her pocket as we speak.