Most people think of their glasses as a necessity, but Konrad Billetz and Kevin Habich want to change that. They’ve created interchangeable glasses, making them a fun accessory. Will their product earn them a deal on
Shark Tank Frameri Update
- Entrepreneurs: Konrad Billetz and Kevin Habich
- Business: Glasses with interchangeable frames and lenses
- Ask: $150,000 for 3.5% equity
- Result: No deal
- Sharks: None
Konrad and Kevin brought their Frameri glasses to to the tank and passed out samples for the sharks to try on. They guys demonstrated just how easy it was to pop out their specially designed lenses and pop them back into a different pair of frames. Their company has developed a modular frame for glasses that can be interchanged with various lenses for glasses, including sunglasses, reading glasses, and much more.
The sharks wanted to know about the company’s sales numbers before considering investing. The guys shared that they had $70,000 in pre-order sales. They also doubled their crowdfunding goal and generated about $64,000. Each pair of frames costs $27.00 to make, while lenses cost $10.00. The entire kit is sold online for $500.00.
Daymond John was extremely frustrated with the company’s valuation and even called out the two entrepreneurs for trying to market their company on
Kevin O’Leary decided to make an offer of $150,000 as a loan in exchange for 3.5% equity and for a royalty of $25.00 per unit until he makes three times his original investment. The two entrepreneurs decided to reject his offer and walk away without a deal. What happened next for their company? Keep reading our Frameri update to find out!
We have bad news to share in our Frameri update. It turns out that rejecting Kevin’s offer could have been a major mistake, considering that the Frameri company shut down in January of 2018. This will be our final Frameri update.
Would you like to learn about the other companies featured on Season 6 Episode 27? Follow the links below for our other company updates from the episode.
For even more on companies and products, be sure to stop by our Season 6 Products Page!
Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!