Enso Rings Net Worth is $30 million. As per the latest Shark Tank update, Enso Rings generates $7 million in revenue annually.
The deal offered by Robert on Shark Tank did not go through and instead, the company got funding from Venture Capitalists.
The company has partnered with Marvel and Disney to offer Star Wars and Avengers-themed rings.
Enso Rings Net Worth
- Net Worth: $30 Million
- Annual Revenue: $17 Million
- Profits: $4 Million
- Lifetime Sales: $52 Million
- Employees: 10
- Brand Partners: Star Wars, Marvel
Sales Revenue
When Enso Rings pitched on Shark Tank, the company’s annual revenues were $5 million.
However, they were spending over 40% on marketing and customer acquisition, and therefore the net profits after tax are little to nothing.
However, sales exploded after appearing on Shark Tank. Enso Rings has generated over $9 million in revenue in the next 12 months. Since then, the company’s sales have been growing consistently at 20% each year.
What happened to Robert’s Deal?
On the show, Robert has offered $500k for a 15% stake in Enso Rings. The founders have accepted Robert’s offer.
However, during due diligence by Robert’s legal team, they found some discrepancies concerning sales numbers and marketing expenses.
Robert has realized that the company is not making as much profit as the founders have claimed.
He re-negotiated the Shark Tank deal and asked for a 30% share in the company for the same $500k investment. The founders rejected Robert’s offer, and the deal failed.
Licensing Deals
Enso Ring has partnered with Lucas Films and Marvel to offer rings with the themes of Star Wars, Iron Man, Spider-Man, and Captain America. Under this deal, Marvel and Lucasfilm will earn 30% of gross sales as a licensing fee.
As of today, Enso Ring has sold over $11 million worth of Marvel Rings and $3 million worth of Star Wars-themed Rings. The company is in talks with DC Comics to release a Batman-themed Silicon Ring.
Who Uses Enso Rings?
There are many professionals who are not allowed to wear metal rings at all times. For instance, Soldiers and medical staff have to remove their ring during work times.
In addition to this, Anyone doing outdoor activities like trekking or sports ends up injuring their finger due to a metal ring.
Enso Ring is made up of silicone, which solves all these problems. As shown in the Shark Tank episode, Enso Ring is safer, and in situations where a ring can get stuck to an object, it can avoid finger injuries.
FAQs
Since appearing on Shark Tank, Enso Rings have made over $40 million in revenue.
Enso Rings is owned by Aaron Dalley and Brighton Jones.
Enso Rings are made in America. They are manufactured in Utah and Colorado.
$17 million each year.