Remyxx/ ReKixx Update

Remyxx/ ReKixx Shark Tank Update

100% Recyclable Tennis Shoes From Season 3, Episode 312
 

Remyxx Sneakers Now Known As
ReKixx

 Now here's a cool "thinking outside the box" invention we all need to get behind in our recycling efforts. Gary Gagdon the inventor of Remyxx (now known as ReKixx) came up with this idea to make 100% recycled tennis shoe's while in the process of throwing several pairs away. Gagdon took those old shoes out of the trash and began working on a new recycled product that could effect what we all wear in the future.

Gary Gagnon came into the Shark Tank with His revolutionary recycled sneaker's seeking a $50,000.00 investment for only 10% equity in the business. When Gary means 100% recyclable, He means just that. Every part of the sneakers can go into the recycling bin and recycled into new products.

While putting a $500k valuation on the Remyxx/ ReKixx business, Gagdon obviously must of been somewhat established with sales at a proven profit point right? Well not exactly, Gary had zero sales and has only been in business for 3 weeks. It seems He has a great idea at this point, but the Sharks point out getting into the recycled sneaker business will require a lot more than the $50k Gagdon is asking for.

Four of the Sharks drop out leaving only Daymond John with Gary's last chance to make a deal on Shark Tank. Daymond really likes the idea of recycled tennis shoes and the potential to create a new Brand around them. John offers him the $50k but He wants 80% of the Remyxx Business in return. Gary does come back and counter for $100,000.00 and 50% of the business, but Daymond doesn't budge. He has three clear plans in which direction the Remyxx Brand could go. With John's help teaching Gary this business, the Remyxx / ReKixx recycled tennis shoes could become very successful. Gary does indeed accept Daymonds offer and agrees to give him 80% controlling interest.

Remyxx ReKixx Update

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