Golf is a game of precision, and the creators of Kronos Golf have made it their mission to help players improve their putting with hand-crafted, balanced putters. Founded in 2010 by Philip Lapuz and Eric Williams, Kronos Golf has carved out a unique niche in the golf equipment market. After a successful pitch on Shark Tank in 2014, the company has continued to grow, and as of 2024, Kronos Golf is estimated to be worth $19 million.
Who is Kronos Golf?
Kronos Golf is a golf equipment company specializing in premium, hand-crafted putters. The company was founded in 2010 by Philip Lapuz and Eric Williams, two golf enthusiasts frustrated by the lack of precision and balance in mass-produced putters. With their backgrounds in golf brands like TaylorMade and Titleist, Lapuz and Williams set out to create a line of putters to help golfers improve their game.
| Aspect | Details |
|---|---|
| Name | Kronos Golf |
| Founded | 2010 |
| Founders | Philip Lapuz, Eric Williams |
| Industry | Golf Equipment |
| Estimated Worth | $19 million (as of 2024) |
Who Is The Founder Of Kronos Golf?
The founders of Kronos Golf are Philip Lapuz and Eric Williams. Lapuz, a native of Carlsbad, California, holds a degree in economics from UC San Diego and a master’s degree from Osaka University in Japan. After working in consulting, Lapuz’s passion for golf led him to the golf industry, where he held positions with various major brands.
Hailing from Phoenix, Arizona, Eric Williams had a diverse professional background, including software development, photography, and teaching, before joining Lapuz to start Kronos Golf. The two entrepreneurs shared a love for golf and frustration with the lack of precision in mass-produced putters, which inspired them to create their hand-crafted, balanced putters.
How Was The Shark Tank Pitch Kronos Golf?
Kronos Golf’s appearance on Shark Tank in 2014 was pivotal for the company. Lapuz and Williams pitched their business, seeking $150,000 in exchange for a 15% equity stake. During the pitch, they emphasized the importance of precision in golf putters and the superior craftsmanship of their hand-made products.
Lapuz’s personal story visibly moved the Sharks. He shared the struggle of getting his girlfriend’s parents’ approval to marry due to his entrepreneurial pursuits. This emotional moment he has resonated with the Sharks, particularly Kevin O’Leary and Barbara Corcoran, who became teary-eyed during the pitch.
While most Sharks dropped out of the deal, Robert Herjavec saw the potential in Kronos Golf and offered $150,000 for a 30% equity stake, which the founders accepted. This investment provided the much-needed capital to boost Kronos Golf’s production and expand its reach.
Kronos Golf Shark Tank Update:
Since its appearance on Shark Tank in 2014, Kronos Golf has continued to grow and evolve. The company has used Herjavec’s investment to increase its manufacturing capabilities, allowing it to keep up with the growing demand for its products.
Kronos Golf’s product portfolio has expanded significantly with the addition of seven premium putter models, including a version specifically designed for left-handed golfers. These putters are sold through significant golf brands like Adidas, Nike, and Callaway, increasing Kronos Golf’s visibility and reach.
While most of Kronos Golf’s sales still come from the Japanese market, where their products are highly sought after, the founders have continued exploring opportunities in the United States. However, they have been cautious about investing heavily in the US market, as high-end putters typically struggle to gain traction without endorsing a professional golfer.
What Happened To Kronos Golf After Shark Tank?
After the Shark Tank deal with Robert Herjavec, Kronos Golf has experienced steady growth and continued success. Herjavec’s investment allowed the company to ramp up production and meet the increasing demand for its high-quality, hand-crafted putters.
One of Kronos Golf’s key achievements post-Shark Tank is the expansion of its product portfolio. In addition to its original putter models, the company has introduced new premium designs, including a left-handed version, to cater to a broader range of golfers. These new products have been well-received, with several sold through significant golf brands like Adidas, Nike, and Callaway.
While Kronos Golf has continued to thrive, particularly in the Japanese market, the founders have been cautious about heavily investing in the US market. They have recognized that high-end putters often struggle to gain traction in the US unless they endorse a professional golfer. As a result, the company has maintained a balanced approach, focusing on steady growth and profitability rather than rapid expansion.
Kronos Golf Net Worth:
As of 2024, Kronos Golf is estimated to be worth $19 million. This impressive valuation is a testament to the company’s steady growth, innovative product line, and strong brand recognition, particularly in the Japanese market.
The combination of Kronos Golf’s hand-crafted precision, its successful Shark Tank appearance, and Robert Herjavec’s continued investment has contributed to the company’s impressive net worth.
While the founders have been cautious about expanding too quickly in the US market, their focus on quality and customer satisfaction has allowed them to maintain a solid and profitable position in the golf equipment industry.
| Aspect | Details |
|---|---|
| Net Worth | $19 million (as of 2024) |
| Revenue Sources | Sales of hand-crafted putters, partnerships with major brands (Adidas, Nike, Callaway) |
Kronos Golf Growth and Operations:
Kronos Golf’s growth and operations have been primarily focused on maintaining the high quality and craftsmanship that sets their putters apart in the market. The company continues to hand-make its products, refusing to compromise on its commitment to precision and attention to detail.
Since its appearance on Shark Tank, Kronos Golf has used the investment from Robert Herjavec to streamline its manufacturing processes and meet the increasing demand for its products. This has allowed the company to expand its product portfolio and reach new markets by partnering with major brands like Adidas, Nike, and Callaway.
While most of Kronos Golf’s sales still come from the Japanese market, the founders have been exploring opportunities to gain traction in the US market. However, they have been cautious about investing heavily in this market, recognizing the challenges of selling high-end putters without the backing of a professional golfer.
Kronos Golf Marketing and Sales:
Kronos Golf’s marketing and sales strategy have been centered around highlighting the precision and craftsmanship of their hand-made putters. The company has leveraged its Shark Tank appearance and the emotional story of the founders to build a strong brand identity and connect with golf enthusiasts.
In addition to its online sales channels, Kronos Golf has established partnerships with various golf retailers, allowing its products to be sold alongside other leading golf brands. This strategy has helped increase the company’s visibility and accessibility to a broader customer base.
The company’s focus on quality over quantity has been a critical driver of its marketing and sales approach. Kronos Golf has prioritized building a loyal customer base rather than pursuing rapid expansion, allowing it to maintain its reputation for excellence and exclusivity.
Kronos Golf Social Media Presence:
Kronos Golf has a solid social media presence, leveraging platforms like Instagram, Facebook, and Twitter to engage with customers and showcase its products. The company’s social media channels feature stunning visuals of its hand-crafted putters and behind-the-scenes glimpses into its ethos and manufacturing process.
Kronos Golf’s social media strategy emphasizes the brand’s attention to detail, precision, and passion for golf. By sharing stories of the founders, customer testimonials, and updates on new product releases, the company has built a dedicated following among golf enthusiasts who appreciate the brand’s dedication to quality and craftsmanship.
| Platform | Strategy |
|---|---|
| Instagram, Facebook, Twitter | Engages customers with visuals, behind-the-scenes content, and founder stories |
Kronos Golf Interesting Facts:
- Kronos Golf was founded in 2010 by Philip Lapuz and Eric Williams, two golf enthusiasts with diverse professional backgrounds.
- The company’s name, “Kronos,” refers to the Greek god of time, reflecting the precision and attention to detail that goes into each hand-crafted putter.
- During their Shark Tank pitch, Lapuz’s emotional story about his girlfriend’s parent’s disapproval of his entrepreneurial pursuits moved several of the Sharks to tears.
- Kronos Golf’s products are primarily sold in Japan, where their hand-crafted putters are highly sought after by golf enthusiasts.
- The company has remained cautious about heavily investing in the US market, recognizing the challenges of selling high-end putters without the endorsement of a professional golfer.
What’s Next For Kronos Golf?
As Kronos Golf continues to grow and solidify its position in the golf equipment market, the founders will likely explore new avenues for expansion and innovation. Some potential next steps for the company could include:
- Expanding the product line: Kronos Golf may continue introducing new putter models and accessories to meet its growing customer base’s evolving needs and preferences.
- Increasing US market presence: While cautious about heavy investment in the US, the company may gradually increase its marketing efforts and partnerships to gain traction in this lucrative market.
- Exploring new technologies: Kronos Golf may incorporate the latest advancements in materials, manufacturing, and performance-enhancing features to stay ahead of the competition.
- Collaborations and endorsements: The company may seek out strategic partnerships with professional golfers or other influential figures in the industry to further enhance its brand visibility and credibility.
Final Words:
Kronos Golf’s story is one of passion, precision, and perseverance. From their humble beginnings in 2010 to their impressive $19 million valuation in 2024, the company has carved out a unique niche in the golf equipment market.
The founders’ commitment to hand-crafted excellence, with their successful Shark Tank appearance and continued growth, has positioned Kronos Golf as a force to be reckoned with in the world of golf.
As the company looks toward the future, it will be exciting to see how it continues to innovate, expand, and solidify its position as a premier provider of high-quality, precision-focused golf equipment.
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