Pair Eyewear, the innovative eyewear startup that captivated audiences on Shark Tank, is making significant strides with an impressive $145 million in funding, paving the way for its international expansion. Founded by Sophia Edelstein and Nathan Kondamuri, the New York-based company is revolutionizing the optical industry with its unique approach to customizable eyewear.
Pair Eyewear offers standard prescription glasses with a twist—the top frame is magnetic, allowing customers to purchase multiple frames separately and effortlessly switch their look. “Imagine you’re going to the office, you want one pair of glasses, but then there’s drinks after work, dinner after that, maybe you’re going out at night—you want multiple options throughout the day,” Edelstein told Forbes. This innovative concept has resonated with consumers, with the average customer purchasing over eight top frames.
Since their Shark Tank splash in 2020, where they snagged $400,000 from Lori Greiner and former Stitch Fix CEO Katrina Lake, Pair Eyewear has caught the eye of major investors like New Enterprise Associates and Prism Capital. The latest funding frenzy, a $75 million Series C in October, has rocketed the company to new heights.
Their success shines through in the numbers—over 3 million top frames sold via their ecommerce site in just two years While competitors like Ray-Ban, owned by Luxottica, have teamed up with Meta to launch “smart glasses” that snap pics, record videos, and play tunes, Pair Eyewear is carving out its own groove with chic designs and wallet-friendly prices. Initially eyeing the kiddie market, Pair Eyewear now sees most of its fans are style-savvy adults, drawn to the brand’s fashionable and flexible frames.
Pair Eyewear has cemented its cool credentials with high-profile team-ups, including partnerships with Lady Gaga’s Born This Way Foundation and Marvel, keeping its allure strong among fashionistas. One of Pair Eyewear’s most dazzling perks is its price tag. While prescription glasses in the U.S. often hit the $200 to $300 range without insurance, Pair Eyewear kicks things off at just $60. Extra top frames start at $25, making trendy eyewear a breeze for a wider crowd.
This affordability is achieved through in-house manufacturing of both lenses and top frames. Pair Eyewear launched its first manufacturing facility in 2021 and rolled out a second one this year. Edelstein points out that the production process is heavy on automation, which trims labor costs and lets the company hand those savings over to customers.
Despite its global dreams, Pair Eyewear is sticking to its roots by expanding its footprint in the U.S. The plan is to have their products in all America’s Best stores and 1,200 National Vision stores by year’s end.
With its cutting-edge approach, savvy partnerships, and hefty funding, Pair Eyewear is set to shake up the global eyewear market, giving consumers affordable, customizable, and stylish choices like never before.
