No Deal


Glovestix is a company started by the mother of atheletes from Ashburn, VA, that has created a product to reduce odor from gloves, shoes, and other activewear.

Designed to attack odor causing agents where they grow best (in dark, warm areas with poor air circulation) Glovestix and its sister product Shoestix were designed to be placed into these areas to absorb moisture and deny odor causing bacteria an environment in which to grow. The “Stix” family of products rely on inserts to be placed into the main device to function and that must be replaced after several uses.

The primary difference between Glovestix and Shoestix is that Glovestix features the ability to hang gloves and other similar equipment whereas Shoestix are inserted into shoes on the floor.

The entrepreneur has received a patent on the product.

In eighteen months, Glovestix (and Shoestix) have made $506,000 in gross sales. 55% of their sales are through wholesale, presumably through Amazon, while the rest is direct to consumer through their website. The entrepreneur has appeared on QVC four times.

The product retails for $29.99 and inserts retail for $7.95.

The entrepreneur stated that she has just begun hiring people to help sell in other states, no doubt on a contract and commission basis.

A company that makes a product that will help reduce odor from gloves, shoes, etc Ashburn, VA

This deal aired on Episode 9.09.

Making A Deal

In what might be the perfect team up, Lori teamed up with guest shark Alex Rodriguez for 18%. The appearances on QVC appealed to Lori, naturally and A-Rod had previously had a little experience in sports and no doubt identified with the issue being solved.

While the extra 8% they received in equity resulted in a bite of $642,857, this is small potatoes compared to what the sharks might be able to bring to the table in sales and additional value.

Scroll chart to see it all!

Scroll chart to see it all!

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This page was last edited on 3 December 2018, at 12:30.