Brighton Jones and Aaron Daly pitch Enso Rings, their silicone ring business, in Shark Tank episode 906. Enso Rings are one of two “major” silicone ring makers in the marketplace and they're making strong inroads into that market. They started the business in late 2015 with a Kickstarter campaign that raised $15,324.
The silicone rings are soft and rubbery, yet fashionable. The main reason for using silicone is preventing ring avulsion – the ugly and potentially very disfiguring problem of metal rings getting stuck on something and ripping your finger off. Comedian Jimmy Fallon recently suffered a ring avulsion injury when his wedding band got caught on a countertop during a fall in his home. The Enso Ring guys claim there are “over 150,000 ring avulsion accidents per year in the U.S. alone.”
While stylish, the rings are relatively inexpensive. They want people to go with silicone rings instead of traditional wedding bands for safety and practicality purposes. Truth be told, they are far safer than regular rings for people who work with their hands or enjoy any kind of sporting activities. At anywhere from $12-$25 per ring, they are FAR LESS expensive than your standard ring.
They guys used their Kickstarter funds for initial inventory, tooling, shipping, and engraving supplies. Based on the Kickstarter comments, it appears they delivered product with a minimum of problems. They likely need a Shark's help to increase inventory levels and with marketing. Will a Shark like the ring of this investment?
Enso Rings Company Information
Posts about Enso Rings on Shark Tank Blog
Enso Rings Shark Tank Recap
Brighton and Aaron will pitch the panel of five Sharks on the business and its prospects for growth. They'll need to convince Mark Cuban, Barbara Corcoran, Kevin O'Leary, Lori Grenier, and Robert Herjavec that the company is worthy of a Shark investment. A good business plan, good financials, and sales data will impress the Sharks, but they’ll need to show them THEY are capable of running the company to “Shark standards." A full pitch re-cap on Enso Rings will be available on Shark Tank Blog once this episode airs.
Enso Rings Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Once an episode has aired, we monitor the progress of the businesses featured, whether they receive funding or not and report on their progress. The Shark Tank Blog will follow-up on Enso Rings & Brighton Jones and Aaron Daly as more details become available.