As of 2024, Kronos Golf net worth is $19 million USD. Kronos Golf, a company that produces putters, appeared on Shark Tank in Season 6. Robert Herjavec agreed a deal, but later it failed to go through.
Kronos Golf Net Worth
| Net Worth | $19 Million |
| Annual Sales | $12 Million |
| Founder | Phillip Lapuz |
| Ask | $150K for a 15% equity |
| Final Deal | Failed |
| Lifetime Sales | $24 Million |
Kronos Golf Sales Revenues
When Kronos Golf appeared on Shark Tank, they were generating $300k in annual revenues, and 90% of those sales are from Japan. As of today, Kronos’ monthly revenues are $950K. The company has achieved a 22% market share in Japan and is growing in double digits in Europe and the United States.
Update after Shark Tank
After appearing on Shark Tank, Kronos Golf did really well. They teamed up with five PGA Tour golfers: Andrew Putnam, Peter Uihlein, Brendan Steele, Scott Stallings, and J.T. Poston.
Their online putter sales jumped by 2,500% each month compared to before the show. In 2022, Kronos Golf introduced new products, including the Hinotori putter with unique artwork, which is now shown at the R&A World Golf Museum in England.
They also worked with a Japanese fabric maker to create super-strong and light materials for their putters. This led to 15% reduction in weight of a putter.
Kronos Golf Founder
After his Shark Tank appearance, Phillip Lapuz said his fiancée Mariko’s parents wouldn’t let her move to the U.S. unless his business did well.
He sent the episode to her parents to change their minds, but the deal with Robert Herjavec didn’t go through. So ultimately they did not agree to his marriage. In June 2017, Lapuz had married Tara Jones.
Dont Miss other Shark Tank Product Updates
Shark Tank Pitch
- Founders Eric Williams and Phillip Lapuz sought a $150,000 investment for a 15% stake in Kronos Golf, a company that produces precision-milled putters.
- They demonstrated how their putters are milled from solid blocks of carbon steel over 2 hours to achieve perfect balance.
- Kronos had over $260,000 in sales at the time, with 95% coming from Japan.
- The sharks were impressed by the quality but questioned if the $500+ prices were justified, given the $120 manufacturing cost.
- Mark Cuban and Barbara Corcoran dropped out, not being golf fans.
- Lori Greiner suggested focusing on the Japanese market.
- When asked about his motivation, an emotional Lapuz revealed he left a well-paying job, invested $100,000, and needed success to bring his Japanese fiancée to the U.S.
- Kevin O’Leary was touched by Lapuz’s story but still dropped out.
- Robert Herjavec offered $150,000 for 30% equity, which Lapuz and Williams accepted after countering 25%