While I was watching episode 22 of the 14th season of the series “Shark Tank”, the most intriguing product that was presented in my opinion, was the company EyeWris’s foldable reading glasses.
For those who need reading glasses but find it difficult to carry them around, this is just the product! As suggested by its name, the spectacles can be folded and fastened around the wrist like a bracelet. They are a great addition to the eyewear industry because they are constructed from sturdy materials and contain cutting-edge functions. Your glasses may be switched from wristwear to eyewear in only one hand, one motion and one second. The entity unites traditional design with cutting-edge technology, giving a well-known product brand-new functionality and unmatched ease.
The entrepreneurs, Mark and Kenzo Singer, won the Sharks’ approval with their solid financials, competent company concept, and consistent sales data. They were successful in negotiating a $125,000 transaction for 20% shares with Mark Cuban, Daymond John, Kevin O’Leary, Barbara Corcoran, and Lori Greiner.
Moreover, a new update on Shark Tank Success claims that EyeWris has a universal, one-size-fits-all design that works for the majority of people. They also have a utility patent, about which I have been studying about in my Business Law class (that I found interesting), which gives them protection in several nations, and they intend to introduce them to Europe soon. Each pair sells for $110 and costs $30 to produce.
Till now, EyeWris has won five international design awards, including the coveted Red Dot Award and Good Design Award given by the Chicago Athenaeum: Museum of Architecture and Design, in honour of its exceptional design quality. For branding and advertising, I would surely also use these facts in order to attract more consumers. I would also try to introduce a new version out of this product that would be overly resistant and would be able to last through athletic activities.
Furthermore, while going through there pages on social media, I noticed that their advertising on apps such as Instagram, is not that approachable or well invested into. In my opinion, it is highly essential to display your content on social media properly, especially since most of today’s generation is readily going through tons of product advertisements on these apps.
