EyeWris Reading Glasses Update | Shark Tank Season 14
Mark Singer kept losing his reading glasses while working in his woodshop, even though he left pairs all over the place. Frustrated, he worked with his son, Kenzo Singer, to create Eyewris: foldable glasses you can wear on your wrist, so they’re always easy to find. These glasses are sturdy, smudge-proof, and made to last. Will their vision earn them a deal? Find out in our EyeWris update and pitch recap.
If you’re short on time, here’s a quick overview of what happened to EyeWris after
Kenzo and Mark entered
In terms of an EyeWris update, the company expanded its product line with new styles and colors, gaining significant exposure in outlets like Fast Company and Trend Hunter.
| Shark | Result |
|---|---|
| Mark Cuban, Kevin O’Leary, Barbara Corcoran, Daymond John, and Lori Greiner | Accepted offer of $125,000 for 20% equity |
Shark Tank EyeWris Pitch
- Entrepreneurs: Kenzo Singer and Mark Singer
- Business: Reading glasses
- Ask: $25,000 for 5% equity
- Result: $125,000 for 20% equity
- Sharks: Mark Cuban, Kevin O’Leary, Barbara Corcoran, Daymond John, and Lori Greiner
Kenzo and Mark began their pitch by demonstrating how their product transforms instantly from wristwear to eyewear, solving the problem of misplacing reading glasses.
They need an investment to expand marketing efforts and bring their innovative wrist-worn reading glasses to a broader audience.
EyeWris is a unique pair of foldable reading glasses that can be worn on the wrist like a watch, providing unmatched convenience for users.
The glasses feature a patented memory metal design, allowing them to pop open and snap shut effortlessly, ensuring durability and ease of use.
They are smudge-resistant, scratch-proof, and offer 100% UV protection.
Users simply wear the glasses on their wrist and unfold them into a fully functional pair of readers whenever needed.
The sharks were impressed to learn that the glasses are patented in the USA, China, and Japan, with European patents pending.
Kenzo and Mark revealed that each pair costs $30.50 to produce and sells for $110, including shipping, ensuring a strong profit margin.
They launched their website in 2021 and achieved $28,000 in sales within the first nine months, despite minimal advertising.
By spending just $45 daily on marketing, they kept costs low while gaining traction. Mark added that he had already invested $630,000 into the business to support its growth.
When Daymond John asked why they needed a shark, Mark became emotional.
He explained that he lacked the energy to build another company and wanted to leave the business in experienced and trustworthy hands, like those of the sharks.
His heartfelt statement moved Lori Greiner, who offered $25,000 for 10% equity, citing her experience in selling glasses.
Kevin O’Leary countered with $50,000 for the same equity, and Daymond proposed doubling Lori’s offer if she let him join her.
In a rare turn of events, all five sharks teamed up to offer $125,000 for 25% equity. Kenzo countered with 20%, and they agreed.
Ultimately, this father-and-son duo walked away with the backing of all five sharks
Did the nearly unprecedented five-shark deal help them succeed? Keep reading our EyeWris update to find out.
Shark Tank EyeWris Update
Our EyeWris update found that the deal with all five sharks closed successfully.
Furthermore, the company sold out of its initial inventory and began accepting pre-orders by late July 2023.
They also expanded their product line, introducing new styles and colors to appeal to a broader customer base.
The increased exposure led to features in reputable outlets like Fast Company and Trend Hunter.
Despite the positive momentum, EyeWris faced challenges, particularly concerning the one-size-fits-all design.
Some customers reported discomfort and issues with the fit, leading to negative reviews.
Additionally, there were customer service concerns, including difficulties with returns and exchanges.
EyeWris has garnered several prestigious awards, including the Gold New York Product Design Award, the Silver Muse Design Award, the Red Dot Innovative Product Award, and the Good Design Award from the Chicago Athenaeum: Museum of Architecture and Design.
At the time of this writing, EyeWris has an estimated net worth of $1 million and generates annual revenue of approximately $850,000.
Do you or someone you know need a pair of EyeWris reading glasses? Pick up a pair or two on the EyeWris company website.
Even better, with five sharks on their team, we expect our next Eyewris update to be even better.
Would you like to learn about the other companies featured on Season 14 Episode 22? Follow the links below!
Before you go, be sure to check out our list of all the Shark Tank Season 14 products.
Jeremy is a regular contributor at Shark Tank recap. He has a ton of passion for the show and enjoys researching information about what all the companies are up to now. His favorite Shark Tank companies are The Cookie Dough Cafe and Kronos Golf!