Have you ever watched an episode of Shark Tank and wondered what happened to the companies after they struck a deal with one of the sharks? One such intriguing product that caught viewers’ attention was Bunny Eyez – the innovative, tiltable reading glasses. In this blog post, we’ll take a closer look at Bunny Eyez’s journey on Shark Tank and provide an update on where the company stands today.
The Bunny Eyez Pitch and Deal at Shark Tank
Sisters Jenny Hutt and Stacy Fritz, along with their partner Andrea Gluck, stepped into the Shark Tank with their unique invention – Bunny Eyez. These aren’t your ordinary reading glasses; they feature a patented black diamond hinge design that allows the wearer to flip and tilt the glasses for optimal comfort during various activities like watching TV, reading, or working on a computer.
The founders impressed the Sharks with their pitch and secured a deal with Daymond John. He offered $200,000 for 20% equity in the company, along with a $2 royalty per unit sold until he recoups his investment. After that, the royalty would be dropped, and his equity would decrease to 15%. The Bunny Eyez team happily accepted the offer.
Is Bunny Eyez Still in Business?
Yes, Bunny Eyez is still going strong! Following its noteworthy feature on Shark Tank, the company has maintained a trajectory of sustained growth and expanded its influence. They have maintained a strong online presence, selling their products through their website and on Amazon. The company has also gained a significant social media following and has received endorsements from celebrities like Hoda Kotb and Kaley Cuoco.
Bunny Eyez plans to expand its distribution further by moving into big-box stores and other retailers. This strategic move will help them reach a wider audience and solidify their position in the eyewear market.
What Was Bunny Eyez Net Worth?
While the exact net worth of Bunny Eyez is not publicly disclosed, the company has achieved impressive sales figures since its launch in 2018. They have generated over $5 million in lifetime sales, which equates to approximately 200,000 units sold. However, it’s worth noting that the company has experienced some fluctuations in sales over the years.
The cost of manufacturing each pair of Bunny Eyez glasses is $3.70, with an additional $0.60 for the case. The glasses retail between $35-$40, providing a healthy profit margin for the company. As Bunny Eyez continues to expand its distribution and reach more customers, its net worth is likely to grow.
Impact of Shark Tank on Bunny Eyez
Appearing on Shark Tank has significantly impacted Bunny Eyez’s success. The show provided the company with invaluable exposure, introducing their innovative product to millions of viewers. The deal with Daymond John not only provided financial support but also strategic guidance and connections within the industry.
Since the episode aired, Bunny Eyez has experienced a surge in sales and brand recognition. The company’s website and social media channels have seen increased traffic, and the product has gained a loyal customer base. The Shark Tank effect has undoubtedly contributed to Bunny Eyez’s growth and success.
Business Overview
Bunny Eyez stands out in the eyewear market by combining fashion with functionality. The company’s unique selling proposition lies in its patented design, which allows users to tilt and flip their glasses for maximum comfort and versatility. This sets them apart from traditional reading glasses and has helped them carve a niche in the market.
The founders of Bunny Eyez drew inspiration for their product from personal experience. They realized the inconvenience of wearing traditional reading glasses while multitasking and envisioned a pair of glasses that could adapt to the wearer’s needs. This led to the creation of Bunny Eyez.
In addition to its innovative design, Bunny Eyez also has a philanthropic side. The company is named after the founder’s late mother, Bunny, and in her honor, they donate 20% of all profits from a specific frame to the Lustgarten Foundation for Pancreatic Cancer Research. This charitable aspect adds a meaningful dimension to the brand.
Conclusion
Bunny Eyez’s journey on Shark Tank and beyond is a testament to the power of innovation, perseverance, and strategic partnerships. The company has successfully carved a niche in the eyewear market with its unique, tiltable reading glasses. Bunny Eyez is poised for continued growth and success with a strong online presence, celebrity endorsements, and plans for expanded distribution.
As the company moves forward, it will be exciting to see how they continue to innovate and adapt to the ever-changing market. With Daymond John’s guidance and the founders’ dedication, Bunny Eyez has a bright future ahead. So, the next time you reach for your reading glasses, remember the little company that made a big splash on Shark Tank – Bunny Eyez.
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