Kronos Golf is a company that specializes in designing and manufacturing high-quality, precision-milled putters for golf enthusiasts. The company was founded by Philip Lapuz, who sought to create a line of putters that combined exceptional craftsmanship, performance, and aesthetics.
Kronos Golf gained widespread attention when Lapuz appeared on the American TV show Shark Tank in April 2014. During his pitch, he showcased the meticulous attention to detail and the superior materials used to produce the putters, which set them apart from other golf clubs.
The company’s putters are precision-milled from a solid metal block, ensuring consistency in weight, balance, and feel. Some of the key features of Kronos Golf putters include:
- Precision milling: Kronos Golf putters are milled with extreme precision, providing a consistent, high-quality product with excellent performance and feel.
- Superior materials: The putters are made from high-quality metals, such as stainless steel and carbon steel, contributing to their durability and performance.
- Balanced design: Kronos Golf putters focus on proper weight distribution, ensuring the club remains balanced throughout the swing.
- Aesthetic appeal: The putters have a unique and attractive design, with clean lines and a polished finish that appeals to golfers who value both form and function.
Despite Kronos Golf putters’ high quality and craftsmanship, the shark Robert Herjavec invested in the product. The exposure from the show helped raise awareness for the brand and attract customers interested in their premium golf products.
What Is Kronos Golf?
Kronos Golf is a range of precision-milled golf putters designed and manufactured in San Diego, CA. Kronos Golf is the invention of Phillip Lapuz, Eric Williams, and their friends.
The golf industry benefits from their collective experience of more than a century. The manufacturing process at Kronos Gold is non-gimmicky, false, or shortcut-free to ensure the most precise and balanced putters.
The Pure Balanced Center of Gravity has been certified on each putter. The product or service quality should be considered when launching a business or seeking investors.
You can build interest and satisfy clients by putting some thought into your product and striving to make it perfect. Kronos Golf is a manufacturer of precision-milled and delicately hand-finished putters.
Its mission is to “raise the standard in putter manufacture one putter at a time,” as the company’s motto states. Kronos Golf has never claimed to make its clients better golfers, but it does strive to instill a sense of artistry into the putter manufacturing industry.
|Company Name||Kronos Golf|
|Entrepreneur||Eric Williams and Phillip Lapuz|
|Product / Business||Golf Putter With The Most Accuracy|
|Investment Asking For||$150,000 For 15% equity in Kronos Golf|
|Final Deal||$150,000 For 30% equity in Kronos Golf|
|Episode||Season 6 Episode 2|
|Business Status||In Business|
Who Is The Founder Of Kronos Golf?
Phillip Lapuz and Eric Williams are the owners and founders of Kronos Golf. Phillip holds Bachelor’s and Master’s degrees from the University of California, San Diego, and Osaka University, respectively, in computer science.
He worked for a consulting firm briefly before launching Kronos Golf in 2010. He holds degrees in computer science and Japanese from UCLA and Tohuku University.
He worked as a software developer, instructor, photographer, and designer before joining Kronos Golf as a Creative Director in 2010. Currently, he is employed by Intel as a software engineer.
Philips and Eric worked for companies such as Titleist, Taylormade, Goldwin, and other large and small golf brands before founding Kronos, which eventually switched to less costly and more exact manufacturing techniques.
Putters are precise clubs, and as such, they should not be mass-produced, and they still advocate for this belief today. The company invested $100,000 in the first year and marketed its putters on its website and in specific golf shops.
Before going on Shark Tank, the business generated $260,000 in sales, mostly from Japan. They pitched $150,000 for a 30 percent stake in the business.
Kronos Golf Before Shark Tank
Kronos Putter was developed by Phillip Lapuz and Eric Williams, two friends who decided to use their combined expertise and passion for golf to make a product.
Phillip and Eric were interested in developing a superb golf putter, but they also wanted to distinguish themselves from established firms such as Titleist, Taylormade, and Callaway.
Philip and Eric felt it would be far more effective if each putter were created with craftsmanship rather than mass-producing golf putters.
Golf putters believe they are a very important precision club, and it is far preferable to manufacture them with care rather than producing them in large quantities.
Kronos Putter was born out of this. The Kronos Putter is meticulously hand-finished in San Diego, California, to provide the highest level of perfection.
Philip and Eric believe using the Kronos Putter does not guarantee that you will improve your golf game. They assert that this can only be achieved through much practice.
Philipp and Eric want to bring their love of craftsmanship to the manufacture of putters, which they have always enjoyed.
Phillip and Eric devised three different putter series: Raw, Refined, and Rare. Kronos Putter is now manufacturing and selling its products online and in select golf shops.
However, Philipp and Eric need some assistance to market their Kronos Putter in a major way. They will also need additional revenue to do so.
Phillip and Eric attended the shark tank to acquire additional funding and build their business skills and relationships.
They were also looking to learn from the sharks. The question is whether any sharks will be willing to take a shot at Kronos Putter.
How Was The Shark Tank Pitch Of Kronos Golf?
Phillip and Eric appeared on Shark Tank seeking an investment of $150,000 for a 15 percent stake in Kronos Gold. The Shark Tank pitch of Kronos Golf, presented by founder Philip Lapuz, was successful and well-executed.
During the presentation, Lapuz showcased the meticulous craftsmanship, attention to detail, and high-quality materials used in producing the precision-milled putters that set them apart from other golf clubs.
Lapuz demonstrated the unique features of the Kronos Golf putters, such as the balanced design, superior materials, and aesthetic appeal. He also provided information about the company’s sales, target market, and plans.
His pitch conveyed his passion and commitment to creating a premium product for golf enthusiasts. The sharks were impressed with the quality and design of the Kronos Golf putters, and Robert Herjavec, in particular, saw potential in the business.
He offered $150,000 for a 30% stake in the company, which Lapuz accepted. The successful pitch led to a partnership with Herjavec, providing Kronos Golf with valuable resources and support to help them expand their product line and reach a wider audience.
In summary, the Shark Tank pitch of Kronos Golf was effective and well-presented, as it resulted in a deal with one of the sharks and helped the company gain exposure and support for its premium golf products.
Final Deal: Robert Herjavec agreed to invest $150,000 For a 30% stake in Kronos Golf.
What Happened To Kronos Golf After Shark Tank?
Eric and Phillip have grown their businesses with support from a shark after striking a deal with Robert in Shark Tank. Kronos has concentrated on Japan since the Kronos Putter is in high demand.
Robert’s investment in the capital has enabled them to increase production to keep up with the demand. The Kronos Putter continues to sell well on the company’s website, and who knows, it may be able to make its way into the United States market soon.
Kronos Golf Shark Tank Update
Kronos continues to sell products in Japan, and Lapuz married his fiancee Tara last summer. Kronos putters are individually machined under computer numeric control, then hand polished and assembled by the best craftsmen in the world using only the best materials and the latest technologies.
The fabrication of solid metal billets is preferred to castings, welding, stamping, or other shortcuts.
Kronos reduces precision to a bare minimum through exceptional design and execution. Kronos Golf’s Hinotori Putter was displayed at the British Golf Museum in St. Andrews, Scotland, just a few steps away from the Old Course, which remains today after its appearance on Shark Tank.
The Shark Tank deal with Robert never came to fruition. As of 2023, Kronos Golf is still operating, making $5 million in revenue annually.
Is Kronos Golf Still In Business?
After their successful pitch on Shark Tank and securing an investment from Robert Herjavec, Kronos Golf experienced several positive developments:
- Increased exposure and sales: The appearance on Shark Tank raised awareness for Kronos Golf and its precision-milled putters, leading to increased sales and recognition in the golf community.
- Partnership with Robert Herjavec: The partnership with Robert Herjavec provided investment capital, valuable mentorship, and business guidance. Herjavec’s experience and connections helped Kronos Golf navigate the challenges of growing its business and expanding its presence in the market.
- Product development and expansion: With the increased exposure and resources from the Shark Tank deal, Kronos Golf focused on creating high-quality, precision-milled putters, further refining their designs, and expanding their product line to cater to a wider range of golfers.
- Distribution and retail presence: After Shark Tank, Kronos Golf expanded its distribution network and established a stronger retail presence, making its premium putters more accessible to consumers.
While the company’s post-Shark Tank developments are not widely documented, it is clear that the investment and mentorship from Robert Herjavec, along with the exposure from the show, contributed to the growth and success of Kronos Golf.
The company’s focus on craftsmanship, quality, and performance helped it gain a reputation among golf enthusiasts who appreciate premium golf equipment.
The Kronos Golf company is still in business and is doing well. There are now various additional products in their product line, including a putter specifically designed for left-handed golfers.
The corporation focuses its efforts primarily on its wholesalers due to the enormous demand in Japan. They used the money they received from Robert to invest in manufacturing facilities to keep up with demand.
What Is the Net Worth Of Kronos Golf?
The valuation of Kronos Golf was $1 million when it appeared on Shark Tank. The net worth of Kronos Golf is about $2 million as of 2023.