SneakERASERS Shark Tank Update – Shark Tank Season 12
Chris Pavlica and Kevin Consolo pitch SneakErasers, a convenient way to clean scuffed sneakers, on Shark Tank Season 12. They landed a deal with Lori and Alex.
Former Ohio University roommates Chris Pavlica and Kevin Consolo pitch SneakErasers, their easy and convenient way to clean scuffed-up sneakers, in Shark Tank Season 12 Episode 23. The guys used to stay up at night hatching “the next million-dollar idea” while in school, but they never came up with one.
In 2016, he was pitching a film project to Coca-Cola executives, and his sneakers were a big part of his outfit. Unfortunately, they were scuffed up pretty bad. After 20 minutes of scrubbing with hand sanitizer, he got them clean, but there had to be an easier way. There wasn’t.
That night, he called his old friend and told him about his idea for a product that would quickly and easily clean sneakers. Consolo packed his bags and flew to LA, where the old friends agreed on their idea. They converted Chris’ garage into their lab. Once they perfected their product, they ordered a pallet and got to selling.
They initially focused on selling to shoe stores, but realized the product had mass appeal. They’re in over 30,000 retail outlets, including Walmart, Kroger, Meijer, CVS, Costco, Amazon, and more.
Check out other Shark Tank Season 12 Episodes.
About SneakErasers
| Category | Details |
|---|---|
| Business Name | SneakErasers |
| Founders | Chris Pavlica and Kevin Consolo |
| Industry | Consumer Goods / Shoe Care |
| Product | A sponge for cleaning scuffed sneakers |
| Deal Status | Deal secured with Lori Greiner and Alex Rodriguez |
| Investment Asked | $200,000 for 8% equity |
| Deal Outcome | $200,000 for 20% equity |
| Valuation | $2.5 million |
The SneakERASERS product is a small, circular sponge with a scrubber on one side. It works best when moist. A three-pack costs just ten bucks. They also have two other products: GolfErasers and AutoErasers. The GolfEraser is for cleaning golf clubs, and the AutoEraser is for touch-ups between car washes.
The AutoEraser works on scuffs, sap, bugs, grease, brake dust, and more. Even with broad distribution, they likely want a Shark’s help funding purchase orders.
SneakERASERS Shark Tank Pitch
Chris and Kevin enter seeking $200,000 for 8%. They give their pitch while Chris dirties up a sneaker which he then cleans up with his product.
When they’re done, they tell Kevin that one sponge will get as many as nine uses. They sell for $9.99 and cost $1.98 to make. They sell a one-count package for $3.99 at Walmart. Chris used a home equity line of credit to finance their orders, but they are completely debt-free and even have cash in the bank.
In 2019, sales were $202,000. For 2020, they are at $1.1 million yearly (season 12 segments taped in July and August). Ecommerce sales numbers are just 12% of all sales. The Sharks want to know about the competition. There is really nothing like their product out there. They knocked themselves off with Shoe Eraser, which Kevin loves.
Did SneakERASERS Get a Deal on Shark Tank?
Yes, it did. Kevin offers $200,000 for 15%, and they say that’s more than they’re willing to give up. A-Rod likes it; he wants to know what they’re using the money for: marketing. Barbara doesn’t like it when they talk about their other products; she is out.
Lori likes that they’re inventors and marketers. Lori and Alex team up for $200,000 for 20%.
Mark wants to know if they can do custom packaging. He offers $200,000 for 12.5%. They counter Mark with $300,000 for 10%, and Mark goes out.
Next, they ask if Lori and Alex will come down on the equity; they say no. A-Rod says he will take the offer off the table, and they do the deal.
SneakERASERS Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. As of July 2021, there is no evidence that the deal with Lori and Alex closed. The episode aired May 7, 2021, so they could still be in due diligence.
As it turns out, the deal with the Sharks didn’t close. The products are at Kroger’s, Walmart, Costco, CVS, and many other retail locations. The company introduced a new product for cleaning purses called PursERASORS. All their products are available on Amazon, where they are the number one selling shoe care product. As of August 2022, lifetime revenue is approaching $5 million.
As of February 2023, revenue topped $2 million. In December 2023, the company collaborated with Skechers to provide a Skechers-branded SeakEraser called “SkechErasers.” The branded products are sold in Skechers stores worldwide and on Skechers.com. As of April 2024, the company is doing around $5 million in annual revenue.
The estimated net worth of SneakERASERS is around $1 million.
Posts about SneakERASERS on Shark Tank Blog
Sneaker Erasers aka SneakerASERS
Where Can You Buy It?
SneakERASERS are available for purchase on their official website, Amazon, and other wholesale stores like Faire. They are also present in other retail stores. Check out their social media pages for more updates: Facebook and Twitter.
Quick Summary
- Chris Pavlica and Kevin Consolo pitched SneakErasers on Shark Tank, seeking $200,000 for 8% equity, and secured a deal with Lori Greiner and Alex Rodriguez for $200,000 for 20% equity.
- SneakErasers are small, circular sponges with a scrubber designed to clean scuffed sneakers, available in over 30,000 retail outlets, including Walmart, CVS, and Amazon.
- As of April 2024, SneakErasers has reached $5 million in annual revenue and launched a branded collaboration with Skechers called “SkechErasers.”
Curious to view other businesses featured in this episode? Check out their business updates!
