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Enso Rings Shark Tank Update

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Looking for a unique and stylish alternative to traditional metal wedding bands? Enso Rings has got you covered. This innovative company produces silicone rings that are comfortable, durable, and come in a wide range of colors and designs.

With a successful appearance on Shark Tank and continued growth, Enso Rings has become a popular choice for those looking to show their commitment in a unique way.

Enso Rings was introduced as a specially made Silicone ring that is very soft, rubbery, stylish, and fashionable and also can protect our fingers from ring avulsion. These rings are available in various varieties, designs, and colors. Enso Rings are specially designed rings for weddings and engagements.

Enso Rings at a Glance

Season Season-09, Episode-14.
Business IdeaSpecial Silicone Rings.
FoundersBrighton Jones and Aaron Daly.
Asked For$500,000 for 7.5% of Equity.
Accepted Deal$500,000 for 15% of Equity.
SharksRobert Herjavec.
Business StatusIn Business.
WebsiteEnso Rings
Buy on AmazonBuy Now!

Index:

What is Enso Rings?

Enso Rings is a company that produces silicone rings as an alternative to traditional metal wedding bands. The company appeared on Shark Tank in 2016 and made a deal with Robert Herjavec, who invested $500,000 for 15% equity.

Founder Story:

Enso Rings was introduced and developed by two young entrepreneurs and best friends named Brighton Jones and Aaron Daly.  They both are from Utah, and they both wanted to start their own business together for a very long time. They found the idea to develop their product, ‘Enso Rings’ when Brighton had a rock-climbing accident and she fell down but she saw that her wedding ring is caught on a rock that caused him some serious injury to her fingers.

Therefore, she deeply thought about that problem and researched to gain knowledge and found that more than 125,000 peoples in America alone suffer from this type of incident every year. Thus, she decided to find the solution to this concern, and here is how they developed Enso Rings.

Did Enso Rings get a Deal on Shark Tank?

Enso Rings was introduced on ABC’s famous reality show Shark Tank in Season 9 and Episode 14. The introducers Brighton Jones and Aaron Daly introduced their rings and described the story behind its inception as they wanted to provide the people with a ring that everyone can wear almost everywhere without any problem of Ring Avulsion. As these rings are suitable for Doctors, Nurses, engineers, and Army personnel too. These rings are small and easy to wear and everyone can wear these rings almost everywhere without any difficulties.

They showed their samples to Sharks and asked for an investment of $150,000 in exchange for 7.5% of their company. Sharks loved their product and asked for their sales and cost of manufacturing and they explained that the cost of manufacturing ranges from $0.70 to $4 per unit, and that they sold them at $11.99 to $39.99 in retail.

Their sales figures for the last 18 months are approximately $3.8 million. Last month, they had sales of over $460,000 and they have projected their sales for this year to be $5 million. But they can also spend 40% of it on their marketing.

Sharks really loved their offering but they were not able to find any relevant business in it. Also, Mark told them that they are more like a marketing company that insists on any ring makers. Therefore, some sharks backed themselves, but Robert offered them an investment of $500,000 in exchange for 20% of their company.

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Kevin also offered them $500,000 as a loan for $2 per unit until they recover their $1.5 Million and 5% of their company. Owners countered both and offered $500,000 but at a 10% equity share of their company. Robert told them this is a very risky business and again offered them $500,000 for 15% of their company, owners again countered Robert to 12.5% but Robert stuck with his offer, then they finally accepted Robert’s offer. Here is how they got a deal on Shark Tank.

What Happened to Enso Rings after Shark Tank?

After the show, Enso Rings received a massive hike in its sales due to the effect of Shark Tank. It started receiving various orders from different sides of the Nation just immediately after their episode was aired. Enso Rings achieved a sales figure of $2 Million and got 500 orders every day for the entire week after the show.

However, the deal with Robert has never been closed but they become a successful venture after the show. They started selling their products in various parts of the country and sold over 2 million rings in the year 2019, later they started selling them in over 80 countries around the globe. In 2021, they introduced their Disney and Star-Wars lines of rings that are loved by their customers.

Since appearing on Shark Tank, Enso Rings has grown significantly and expanded its product line to include bracelets and other accessories. The company has also partnered with a number of organizations, including the American Nurses Association, to create custom rings and donate a portion of sales to charity.

As of 2023, Enso Rings is still in business and continues to be a popular alternative to traditional metal rings, particularly among those with active lifestyles or jobs that require the use of their hands.

Competitors of Enso Rings

Enso Rings are one of its own kinds of rings that are available in the market. They are uniquely stylish and mostly loved by various people in the country, but they are not isolated from the competition and had to face competition as they are in a common ring market. Their main rivals are: –

  • Groove Life,
  • Zales,
  • Jared,
  • Pandora,
  • Saferingz, etc.

Net Worth of Enso Rings

Enso Rings was loved by many people in America as well as in various other parts of the world. However, they are valued initially at $3.33 million at the time of their Shark Tank appearance but currently, as of January 22, they are earning revenue of approximately $24 million per year, and their valuation is increased up to around $40-$50 million.

Is Enso Rings Still in Business?

Enso Rings is still in business and they are performing great in their area as they have become a very successful brand in the ring manufacturing and selling business because their rings are far cheaper and more comfortable in comparison to other traditional rings.

They can be worn in almost every place and by everybody.

Enso Rings social links:

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FAQs:

What is Enso Rings?

Enso Rings was introduced as a specially made Silicone ring that is very soft, rubbery, stylish, and fashionable and also can protect our fingers from ring avulsion. These rings are available in various varieties, designs, and colors.

Who founded Enso Rings?

Enso Rings was introduced and developed by two young entrepreneurs and best friends named Brighton Jones and Aaron Daly.  They both are from Utah, and they both wanted to start their own business together for a very long time.

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