ODR Skis
NO DEAL
EPISODE SUMMARY
🕓 Air Date: December 4, 2020
Asking For:
$350,000 for 10%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
ODR offers innovative ski equipment that is sleek, hassle-free, and safer than traditional gear, designed for a disruptive skiing experience.
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Background Story
Kevin Greco’s journey to ODR began in his childhood home of Alaska, where he developed a deep passion for skiing. Growing up surrounded by majestic mountains and pristine slopes, he realized that traditional ski equipment had its limitations. It was bulky, inconvenient to transport, and often led to injuries due to bindings and leverage points. This frustration with existing gear sparked his entrepreneurial spirit and drove him to seek a solution.
In 2017, Kevin’s life took an unexpected turn when he stumbled upon a video showcasing an innovative skiing product from Norway. It was love at first sight, and he knew he had to be a part of it. Kevin’s journey with ODR began when he invested $100,000 to secure the distribution rights for North America. His mission was to introduce this game-changing product to the U.S. market.
As he started distributing the gear, Kevin witnessed the transformative impact it had on skiers. Parents could now safely enjoy the slopes with their children, and those who had previously suffered injuries were back on the snow, free from fear. Kevin was deeply moved by the stories and letters he received from satisfied customers, and it fueled his determination to bring ODR to new heights.
The Product
ODR offers a fully integrated skiing system that replaces traditional ski bindings with flexible, boot-like footwear.
The key innovation lies in their use of liquid steel injection molding, which provides excellent edge control on groomed snow.
This design offers a safer and more convenient skiing experience, with reduced risk of injury compared to traditional equipment.
How It Went
The company’s position before Shark Tank
ODR’s sales grew from $238,000 in 2016 to $977,000 in 2018, with a projected $1.5 million in sales for the current year. The company shifted to a direct-to-consumer digital model to achieve profitability, with $120,000 in profits in 2018. Kevin Greco now owns the entire company after a buyout of the original Norwegian founders.
The company initially operated in over 20 countries but transitioned to a digital-focused approach. ODR faced supply chain issues and price manipulation from its original founders, leading Kevin to take control. The company’s financial health is improving, with a strong customer following in the United States.
The Negotiations:
Despite Kevin Greco’s passionate pitch and impressive growth, none of the Sharks made an offer. Barbara expressed concerns about Kevin’s approach and suggested that she wouldn’t trust him due to his previous actions in taking over the company. Mark Cuban praised Kevin as an exceptional entrepreneur but didn’t see the potential for himself in the skiing industry.
Lori also appreciated the product but admitted her lack of expertise in skiing, leading her to decline. Daymond John had reservations about Kevin’s past actions but ultimately decided not to invest, feeling that others on the panel were better suited to evaluate the opportunity. Kevin left the Tank without a deal, expressing gratitude and understanding of the Sharks’ decisions.
