Eyewris is a reading glasses company founded in 2022 by Kenzo and Mark Singer and has experienced significant growth since its inception. As of February 2024, the company's net worth was $1.6 million. The father-and-son pair piqued the interest of the Sharks on Shark Tank Season 14 with their innovative wrist-worn folding reading glasses, striking a deal that will take their business to new heights.
Revolutionary product design
Kenzo and Mark Singer's invention was born out of a desire to solve a common problem for reading glasses users: keeping their glasses convenient. Their solution is a unique wrist-mounted folding reading glasses that provides a convenient alternative for people who often forget their glasses. This innovative design uses a bi-stable bridge that allows the glasses to effectively flex around the wrist. Lenses are constructed from nickel-titanium memory metal, stainless steel, and lightweight TR-90 thermoplastic for durability and comfort. Additionally, these lenses are ten times more impact-resistant than standard plastic or glass lenses, block all UV radiation, and have a built-in blue light filter.
Shark Tank Success
On May 19, 2023, on the 14th season of “Shark Tank USA”, Kenzo and Mark Singer showed off their product in a touching demonstration that moved some Sharks to tears. This speech particularly resonated with Lori Greiner. Ultimately, they teamed up with Mark Cuban, Kevin O'Leary, Barbara Corcoran, Daymond John and Lori Gray Lori Greiner reached an agreement to pay $125,000 in exchange for 20% ownership. Initially, the entrepreneurs estimated their company's value at $500,000, but after negotiations, the valuation was set at $625,000.
Business growth after Shark Tank
The “Shark Tank effect” has significantly increased Eyewris' popularity and sales. Within nine months of appearing on the show, Eyewris earned $28,000. Due to the Sharks' investment and increased exposure, monthly sales now total $77,000. Daymond John played a vital role in the company's global expansion, while Kevin O'Leary helped reduce commodity costs. The Sharks' strategic support has been instrumental in Eyewris' continued success.
Kenzo and Mark Singer: Background and Achievements
Mark Singer is an accomplished businessman known for his creativity and craftsmanship. He has received numerous accolades for his work, including projects such as his early Giati Designs and the world-famous Gorilla Glue. The latter is valued at more than $100 million. Kenzo Singer, on the other hand, is a structural engineer and architect who graduated from Cornell University. He co-founded Eyewris with his father while working in Los Angeles. Kenzo's design expertise, particularly the design of the bistable bridge, was critical in the development of the innovative Eyewris reading glasses.
Overcome challenges and gain recognition
The road to success is not without challenges. Kenzo and Mark Singer spent years perfecting their design, even having a failed Kickstarter campaign, raising only $10,000. Despite these setbacks, their persistence paid off. Upon its launch, Eyewris eyewear received multiple design accolades, including the coveted Red Dot Award. This recognition highlights the product’s unique design and high-quality materials.
Future prospects and market impact
The unique design and high-quality materials of Eyewris reading glasses have allowed the company to capture a large market share. The glasses wrap around the wrist and provide a practical solution for people who often cannot find their reading glasses. Strategic licensing of the company's unique designs and patented technologies is expected to generate significant future earnings. The high emotional impact of “Shark Tank” episodes may contribute to increased online viewership and sales.
in conclusion
From Shark Tank's humble beginnings to its current booming business, Kenzo and Mark Singer have proven that with the right planning and execution, anything is possible. Their stories are a testament to the power of innovation, perseverance and strategic partnerships. As Eyewris continues to grow, we look forward to seeing what the future holds for this dynamic father-son team. Their journey provides inspiration to aspiring entrepreneurs and a reminder that with dedication and creativity, success can be achieved.