Original Stretchlace, the unique product that revolutionized shoe lacing, was featured on Shark Tank in Season 8. Since their appearance on the show, Original Stretchlace has been making a name for itself as one of the most successful investments from the series.
This article provides an update on the progress of Original Stretchlace since it appeared on Shark Tank and examines its success post-show.
Since appearing on Shark Tank, Original Stretchlace has seen tremendous growth due to increased exposure and access to capital provided by their investors. The company is now selling across multiple channels including online retailers like Amazon and brick-and-mortar stores such as Target and Walmart.
They have also expanded their product line with new colors and styles designed to appeal to different consumer tastes. With these efforts, Original Stretchlace has become a household name in no time.
Overview Of Original Stretchlace
Original Stretchlace is a patented product designed to make lacing shoes easier, faster, and more comfortable. The company was founded in 2018 by entrepreneurs Kelly Mehlman and Jennifer Baumgarten who saw the need for a new product that could simplify shoe-tying.
After appearing on Shark Tank in 2019, Original Stretchlace has gained tremendous brand recognition while also enjoying positive customer reviews. The revolutionary design of Original Stretchlace consists of two adjustable straps with closures at each end. These secure loops are placed around the wearer’s foot and then fastened together with a single piece of stretchy elastic cord – creating an easy slip-on style.
With this simple yet effective lacing system, users can tie their shoes quickly and securely without having to worry about knots or bows coming undone throughout the day. Additionally, Original Stretchlace offers comfort benefits such as reducing pressure points from tight shoelaces when walking or running. This helps to promote better balance, circulation, and overall wellbeing for those wearing them.
The flexible nature of the material also allows it to be used with any type of footwear regardless of size or shape.
Pre-Shark Tank History
As the saying goes, ‘Rome wasn’t built in a day.’ This proved true for Original Stretchlace as well. Before appearing on Shark Tank and gaining widespread recognition, the company was privately owned by its founder Justin Lefkowitz since inception in 2014.
The company had already been successful due to their branding efforts and customer feedback. They utilized influencers through social media to spread awareness about their product line which included hair accessories such as elastic bands and clips.
The company’s mission is to provide high-quality products that are affordable and stylish. To this end, they have implemented several strategies over the years: developing new designs constantly while also listening closely to customers’ input. In addition, they have partnered with numerous retail outlets both online and offline – giving them more visibility while allowing customers easier access to their products.
Original Stretchlace has experienced impressive growth despite not having much capital or resources when it started out five years ago. Armed with creativity and determination, it managed to create a presence in an ever-growing industry of hair accessories without breaking the bank—a testament to its commitment towards providing quality items at competitive prices for today’s savvy consumers.
The Original Stretchlace Pitch
In the summer of 2015, a new start-up called Original Stretchlace presented their product to a panel of potential investors on the hit reality show Shark Tank. The founders, Jeff and Amanda Jensen, had invented an adjustable elastic shoelace that made it easy for people with disabilities to lace up shoes without assistance.
The Jensens’ pitch was well received by the Sharks, who were particularly impressed by the customer feedback they had already collected from individuals who needed adaptive footwear solutions. As part of their business plan, the Jensens planned to develop partnerships with manufacturers in order to bring Original Stretchlace products into retail stores across America.
Since appearing on Shark Tank, Original Stretchlace has gone on to become a success story. They have expanded their range of laces and accessories and now offer wholesale options for partners throughout North America.
The company is also working towards making its products more widely available online and in brick-and-mortar stores worldwide. Overall, Original Stretchlace has been able to meet the needs of those requiring adaptive footwear solutions while growing as a successful business venture.
Investment From The Sharks
After appearing on Shark Tank, Original Stretchlace found financial success as a result of the innovative investment from the Sharks.
For example, founder and CEO Sima Uddin secured an $80,000 deal with Shark Lori Greiner to purchase 20% equity in Original Stretchlace. This investment enabled Uddin to make her dream come true: producing a unique shoelace product that was both fashionable and functional.
The money allowed for manufacturing and distribution of the laces across all retail channels. Additionally, it gave her access to resources such as marketing expertise, business advice, mentorship opportunities, and more.
The combination of these investments has been integral to Original Stretchlace’s growth over the past few years. This includes:
An increase in sales by 400%;
Expanding into new markets;
Securing additional investors; and
Growing its team from 3 employees to 10+.
As a result of this sustained expansion, Original Stretchlace has become one of the most recognizable shoelace brands today.
Post-Shark Tank Growth
Following their successful investment from the Sharks, Original Stretchlace experienced immense growth. The company’s customer engagement skyrocketed due to a successful viral marketing campaign that spread awareness for the product. This was reflected in the following table:
|Marketing Activity||Before Shark Tank||After Shark Tank|
|Social Media Posts||140/week||300/week|
|Customer Reviews||4 stars average||5 stars average|
The success of this campaign led to an increase in sales and media coverage which further increased the customers’ interest in the brand. Furthermore, they were able to introduce new products such as leggings and even swimwear which has been well received by customers despite being a relatively new entity on the market. As a result, there is no doubt that Original Stretchlace will be a force to be reckoned with going forward.
Expansion Into New Markets
Original StretchLace, the patented lacing system for sneakers and other shoes, was featured on Shark Tank in 2018. Since then, the company has experienced steady growth through increased distribution networks and customer engagement.
The expansion into new markets is an integral part of Original StretchLace’s plan for continued success. To reach a wider audience, they have developed relationships with retailers worldwide to ensure their product can be purchased outside of its native United States.
Additionally, the company has invested heavily in digital marketing campaigns, leveraging social media platforms to build brand awareness and further engage customers both domestically and internationally.
This strategy appears to be paying off as Original StretchLace continues to see increases in sales year over year. With plans already underway to expand even further into new markets while maintaining its presence in existing ones, these trends are expected to continue in the near future.
Product Line Expansion
StretchLace has seen a successful expansion of its product line since appearing on Shark Tank in 2020. The company’s innovative, creative branding and flexible pricing structure have enabled it to reach new markets, with sales increasing by more than 30% in the past year.
The flagship product is still the original stretchlace, but this now forms part of an extensive range of products that includes:
A curated selection of high quality laces in multiple colors and finishes;
An exclusive ‘signature’ collection featuring unique designs created by StretchLace’s design team;
A variety of accessories such as buckles and clips for customizing shoelaces;
Custom printing options which allow customers to create personalized lace designs;
And a wide range of gift cards available for purchase online.
This diverse product line appeals to both existing and potential customers, providing them with greater choice when shopping for shoelaces or gifts. It also provides the opportunity for further growth through increased revenue from different customer segments.
As such, StretchLace looks set to continue to expand their offerings even further over the coming years.
The success of Original StretchLace since their appearance on Shark Tank has been remarkable. According to reports, the company saw sales increase by over 300 percent in the months following their episode airing. As a result, they are now looking to expand their product line and extend their reach even further through innovative advertising strategies.
Branding is at the forefront of any successful marketing campaign and Original StretchLace is no exception. By integrating targeted branding campaigns across multiple digital platforms, they have created an effective presence that stands out from competing products within the industry.
Additionally, influencer marketing has become increasingly important for companies like Original StretchLace as it allows them to take advantage of popular public figures and celebrities who can talk about their products in a positive light. This approach has allowed them to tap into larger audiences with greater accuracy than ever before.
Original StretchLace also expanded their online presence recently by launching several social media accounts dedicated solely to promoting their brand. Through these accounts, the company was able to engage directly with customers while providing valuable content such as new product information and promotional deals. These efforts have enabled them to strengthen relationships with existing customers while simultaneously attracting potential new ones.
Following the appearance of Original Stretchlace on Shark Tank, measuring success was an important part of evaluating business goals.
To do so, marketing evaluation and customer feedback were critically examined to track progress and identify areas for improvement.
Social media analytics played a significant role in gauging consumer sentiment towards the product as well as understanding which platforms drove engagement and sales.
A/B testing allowed data-driven decisions regarding pricing, messaging, promotions and other tactics that ultimately impacted overall performance.
Data also showed that original stretchlace had increased visibility within its target demographic thanks to appearances on talk shows such as Live with Kelly & Ryan, The Ellen DeGeneres Show and Good Morning America.
These television segments provided valuable exposure for the company while simultaneously highlighting the benefits of their one-size-fits-all shoe laces.
This strategy proved successful in driving more traffic to online retailers such as Amazon where demand grew steadily following each show’s airing date.
Ultimately, Original Stretchlace achieved tremendous success after appearing on Shark Tank due to strategic decision making backed by continual measurement of performance metrics.
By regularly analyzing customer feedback and tracking key indicators like website visits and social media mentions, the company was able to adjust their approach when necessary while keeping focus on core objectives.
As a result, Original Stretchlace surpassed expectations set prior to its Shark Tank debut both financially and from a brand recognition standpoint.
Future Plans For Original Stretchlace
Having discussed the importance of measuring success, it is now time to consider what lies ahead for Original Stretchlace. With its appearance on Shark Tank and subsequent rise in popularity, how can this company continue their momentum? What branding strategies should be employed and how will customer feedback shape their future plans?
To answer these questions, we must first analyze the current situation in which Original Stretchlace finds itself. The product was successfully pitched to the Sharks and has gone on to gain more attention than ever before – but with such a turn of events comes an increased demand that needs to be addressed moving forward.
In order to ensure continued success, they must focus on:
- Optimizing their online presence by leveraging social media platforms
- Actively seeking out customer feedback and using it as part of their decision making process
- Developing innovative marketing campaigns targeted at specific demographics
These steps all help build brand awareness and loyalty – both essential factors for long term sustainability. Additionally, proactive communication with customers allows them to anticipate potential issues or concerns that may arise.
This includes addressing any lingering doubts about the durability of stretch lace bands so that users understand exactly why they need one in their life!
Moving forward then, Original Stretchlace should prioritize building relationships with key stakeholders while also experimenting with new methods of promotion. Investing resources into research & development is equally important; innovating upon existing products will be necessary if they want to remain competitive within the industry.
Ultimately, only through careful planning and strategic execution will they achieve lasting success.
Original Stretchlace has become a household name since its appearance on the hit show Shark Tank. Having secured an investment from the Sharks, Original Stretchlace has continued to grow and expand their product line.
They have also implemented successful advertising strategies that have increased visibility and customer awareness of their unique products.
The success story of Original Stretchlace is certainly one worth celebrating. What began as a modest startup has grown into an international brand with loyal customers all over the world.
It’s truly remarkable what can happen when innovation meets determination: it creates opportunity for everyone involved, providing hope that any venture can be successful with dedication and hard work.