Eyewris Shark Tank Update – Shark Tank Season 14
Mark and Kenzo Singer stepped into the Shark Tank with a stylish solution to a frustrating everyday problem. Their product is foldable reading glasses worn on the wrist.
Eyewris entered Shark Tank Season 14 with their innovative product, foldable reading glasses that wrap comfortably around your wrist like a bracelet when not in use. They are scratch-resistant, smudge-resistant, UV-protective, and, most importantly, always on hand. Eyewris positions itself as a premium, long-lasting alternative to cheap, disposable readers.
Check out other Shark Tank Season 14 episodes.
About Eyewris
| Category | Details |
|---|---|
| Business Name | Eyewris |
| Founders | Mark Singer, Kenzo Singer |
| Industry | Eyewear |
| Product Type | Foldable reading glasses worn on the wrist |
| Deal Status | Deal secured with all five Sharks |
| Investment Asked | $25,000 for 5% equity |
| Deal Outcome | $125,000 for 20% equity |
Father and son team Mark and Kenzo Singer pitched Eyewris, their reading glasses you wear on your wrist, in Shark Tank Season 14 Episode 22 – the season 14 finale.
Mark is no stranger to entrepreneurship; he’s a woodworker by trade, but he’s also the inventor of Gorilla Glue. He founded that business in 1994 after seeing polyurethane glue being used to assemble furniture. After getting the USA distribution rights, he marketed and sold the glue primarily to woodworkers at first. He later sold the company to the Lutz Tool Company for an undisclosed amount.
It was while he was building that business that he got the idea for Eyewris. He always found himself needing readers when there were none to be found. His solution was to buy dozens of Dollar Store readers and leave them all over the place. Even with that plan in place, he still found himself needing readers.
He thought having readers you could wear on your wrist, like a watch, would be a good solution. That’s when he brought in his son, Kenzo.
Kenzo is a structural engineer by profession, but he’s also an accomplished jewelry designer. He saw what his dad was trying to do with Eyewris, and he joined him on the journey. The result was foldable readers that fit around the wrist. They’re smudge and scratch-resistant and offer 100 per cent UV protection.
At $110 a pair, they’re more expensive than those Dollar Store readers, but they’re designed to last, so you don’t have to keep buying new ones.
Eyewris Shark Tank Pitch
Mark and Kenzo entered the Shark Tank seeking $25,000 for 5% of their company. Kenzo asked, “What do sugarless ice cream, low salt turkey bacon and cheese free mac and cheese all have in common?” Mark answered, “They were all bought by mistake because I didn’t have my reading glasses with me at the supermarket.” The Sharks all laughed.
Mark said he was wearing his reading glasses right now as he whips his Eyewris readers off his wrist and puts them on. The patented memory metal design lets the glasses spring open and snap shut. They’ve received 4 international design awards, but more importantly, they’re fashionable.
Sharks’ Questions
The Sharks examined their samples and tried the glasses out. They have utility patents in the USA, China, Japan, and Europe and will issue them soon. The landed cost is $30.50, landed, and they retail for $110, including shipping.
Kenzo noticed his dad’s dilemma with his readers and used his structural engineering skills to design Eyewris. He applied the same material skills to designing a skyscraper as he did to designing the glasses, and when they had a working prototype, he quit his job.
Barbara asked about Mark’s background. He left home at fifteen and a half and barely graduated from high school; he never finished college either. He’s been a woodworker for 60 years, designing and making furniture. He told how he started Gorilla Glue and sold it years ago. Every company he’s sold has included a royalty component.
Kenzo said their website went live in 2021, and in the first 9 months, they have been testing the site and still managed to do $28,000 in sales. Kenzo didn’t want to irresponsibly pour his dad’s money into marketing in an inefficient way. They’ve only been spending $45 a day on ads, and they’re turning a small profit. Mark said he put $630,000 into the business.
Daymond asked why they needed a Shark. Mark got emotional as he answered. He said time is the most valuable commodity. He choked up as he said he didn’t have it in him to build another company. His main reason for being in the Tank is to leave Kenzo in the hands of successful, smart, honest and ethical people like the Sharks.
What Makes Eyewris Unique?
Eyewris is not just another pair of reading glasses; it’s a clever solution to an everyday problem. Eyewris glasses fold into a stylish wristband, so they’re always on hand (literally) when you need them. The design is powered by a patented memory metal frame that flexes around the wrist and springs open for easy use.
What really makes Eyewris unique is the blend of utility and design. These glasses are smudge-resistant as well as scratch-resistant and offer 100% UV protection, all while winning multiple international design awards. Additionally, they’re protected by utility patents in the U.S., China, and Japan, with more pending in Europe.
Whether you’re tired of misplacing readers or just want something that actually looks good, Eyewris brings engineering, fashion, and convenience together in one innovative package. It’s the kind of everyday invention that makes you wonder: Why didn’t someone think of this sooner?
Did Eyewris Get a Deal on Shark Tank?
Lori was crying. She said Mark’s statement impacted her. She offered $25,000 for 10% and said she sold millions of dollars worth of sunglasses and readers. Kevin said he knows how to blow this up and offers $50,000 for 10%.
Kenzo said they’ve done the designs and patents, and they need the know-how to get it out there. Mark Cuban said all the Sharks know this is a great deal, and Mark and Kenzo have the leverage. Mark Singer said retail, online and licensing the technology are all things they want to do.
Daymond thought it was a sports play and said he would double what Lori did if she let him in the deal; Lori agreed. Kevin asked if Kenzo and Mark had three Sharks, would they give up 10%? Mark said yes.
Mark and Barbara said they want to be involved in the deal, too. Mark Cuban said that when they do a multi-Shark deal, someone does the due diligence, and then they figure out which skill sets each Shark can contribute. Kevin asked Mark and Kenzo to step into the hall while the Sharks talked things over.
When they came back in from the hall, the Sharks offered $125,000 for 25%, 5% for each Shark. Kenzo countered with 20%, and the Sharks did the deal.
What Happened to Eyewris After Shark Tank?
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. After their memorable appearance on Shark Tank, father-son duo Mark and Kenzo Singer experienced a significant boost in their business, Eyewris. The company sold thousands of glasses. Many knockoffs appeared on Amazon, too.
Eyewris capitalized on the “Shark Tank effect,” with monthly revenues increasing from $28,000 to $77,000. The company’s valuation rose to $1.6 million, and they expanded their product line to include various color options for both men and women. It’s unclear if the Sharks officially closed the deal, as Eyewris is not listed on some Sharks-affiliated platforms.
The first rerun of this episode in July 2023 is just 3 months after the original air date. There is no evidence of the deal with the 5 Sharks closing at this time. The prices were discounted to $65 in July 2023.
Despite this, Eyewris continues to thrive, offering its unique eyewear exclusively through its website, with prices adjusted to $89 from the initial $110. The company remains committed to innovation and customer satisfaction, building on the momentum gained from its Shark Tank exposure. The estimated current net worth of Eyewris is over $1 million.
Read more details about Eyewris Readers on the Shark Tank Blog.
Where Can You Buy It?
If you’re ready to stop misplacing your reading glasses for good, Eyewris is just a click away. You can buy signature foldable wrist-worn readers directly from their official website, where you’ll find the latest styles and deals straight from the source.
Prefer shopping on Amazon? They are available there, too. Keep an eye out for occasional discounts, like the price drop to $65 after their Shark Tank appearance. Check out their social media for more details on Facebook and Instagram.
Quick Summary
- Mark and Kenzo Singer pitched Eyewris in Season 14, Episode 22, asking for $25,000 for 5% equity.
- Eyewris is an innovative, foldable reading glasses that wrap around your wrist when not in use.
- The Sharks tested the glasses. The unique design and patent protection across multiple countries impressed them.
- Eyewris achieved significant sales growth following their Shark Tank appearance, with glasses discounted to $65 by July 2023.
More products from this episode! Check out the updates of other businesses that participated alongside Eyewris.
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