Eyewris, a reading glasses firm founded by Kenzo and Mark Singer in 2022, has experienced significant growth since its inception. As of February 2024, the company boasts a net worth of $1.6 million. The father-and-son duo, with their innovative wrist-mounted folding reading glasses, captured the interest of the Sharks on Shark Tank USA Season 14, striking a deal that propelled their business to new heights.
Revolutionary Product Design
Kenzo and Mark Singer’s invention was born out of a desire to address a common problem for reading glasses users: keeping their spectacles handy. Their solution was a unique wrist-mounted folding reading glass, which provides a convenient alternative for those who often misplace their glasses. This innovative design features a bi-stable bridge, allowing the glasses to curve around the wrist efficiently. The lenses are made from nickel-titanium memory metal, stainless steel, and lightweight TR-90 thermoplastic, ensuring durability and comfort. Additionally, the lenses are ten times stronger against impact than standard plastic or glass lenses, block all ultraviolet radiation, and have a built-in blue light filter.
Shark Tank Success
On May 19, 2023, during their appearance on Shark Tank USA Season 14, Kenzo and Mark Singer presented their product, moving some of the Sharks to tears with their touching presentation. The pitch particularly resonated with Lori Greiner. Ultimately, they struck a deal with Mark Cuban, Kevin O’Leary, Barbara Corcoran, Daymond John, and Lori Greiner for $125,000 in exchange for 20% ownership. Initially, the entrepreneurs estimated their company’s worth at $500,000, but after negotiations, the valuation was settled at $625,000.
Business Growth Post-Shark Tank
The “Shark Tank effect” significantly boosted Eyewris’s visibility and sales. In the nine months following their appearance on the show, Eyewris made $28,000. Monthly sales now total $77,000, thanks to the Sharks’ investment and the increased exposure. Daymond John played a crucial role in the company’s worldwide expansion, while Kevin O’Leary helped reduce the cost of goods. This strategic support from the Sharks has been instrumental in Eyewris’s continued success.
Kenzo and Mark Singer: Background and Achievements
Mark Singer is an accomplished businessperson, known for his inventive prowess and skilled craftsmanship. He has received numerous accolades for his work, including his earlier projects like Giati Designs and the world-famous Gorilla Glue. The latter has grown to be worth 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 creation of the bi-stable bridge, was crucial in developing the innovative Eyewris reading glasses.
Overcoming Challenges and Achieving Recognition
The journey to success was not without its challenges. Kenzo and Mark Singer spent years perfecting their design and even faced a failed Kickstarter campaign, raising only $10,000. Despite these setbacks, their perseverance paid off. Upon its introduction, Eyewris spectacles received several design accolades, including the esteemed Red Dot Award. This recognition highlighted 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 significant portion of the market. The glasses, which wrap around the wrist, offer a practical solution for those who frequently misplace their reading glasses. The company’s distinctive design and strategic licensing of their patented technology promise substantial future earnings. The high emotional impact of their Shark Tank episode has likely contributed to an increase in online viewership and sales.
Conclusion
From their humble beginnings on Shark Tank to their current thriving business, Kenzo and Mark Singer have demonstrated that with the right plan and execution, anything is achievable. Their story is 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-and-son team. Their journey serves as an inspiration to aspiring entrepreneurs and a reminder that success is within reach with dedication and creativity.
