Lion Latch Shark Tank Net Worth

Lion Latch is a cleverly designed two-piece container made from hard plastic, specifically created to securely store jewelry pieces while engaging in various activities, such as working or playing sports.

The product also includes a convenient carabiner, allowing it to be easily attached to a gym bag, key chain, handbag, or any other item.

The founder, Lerin Lockwood, a high school art teacher and coach, was inspired to create Lion Latch after experiencing the inconvenience of losing a stone from her engagement ring during a sports game.

With its practical design and sturdy construction, Lion Latch effectively protects jewelry from scratches and damage, making it an ideal choice for individuals leading active lifestyles.

Its customizable feature, which enables the printing of a company’s logo on the top of the box, also makes it a great option for promotional activities.

Available for purchase on the official website and Amazon, Lion Latch has gained popularity for its functionality, durability, and stylish design, making it a must-have accessory for anyone looking to keep their jewelry safe and secure on the go.

Company NameLion Latch
FounderLerin Lockwood
ProductPlastic ring holder
Investment Seeking$150,000 for 15% equity
Final Deal AcceptedNo Deals
Shark NameNo Shark
EpisodeSeason 13, Episode 1
Business StatusIn Business
WebsiteVisit Website
Net Worth$1.5 million

What Is Lion Latch?

Lion Latch is a jewelry storage solution designed to keep rings and other small valuables safe and secure. It is a portable box with a clasp that ensures the items inside are well-protected.

Lion Latch is a product designed as a secure accessory for holding jewelry, particularly rings, in various settings, such as during sports activities or while traveling.

Lion Latch Shark Tank Net Worth

Customers find it convenient to use in various situations, such as going to the gym, engaging in physical activities, or even during work. It provides a safe and convenient way to keep jewelry secure and easily accessible. 

It can be attached to items like badge reels, purses, backpacks, or keys, offering a versatile solution for keeping jewelry safe.

The design of Lion Latch allows for easy attachment to items like lanyards, keychains, or bags, making it practical for on-the-go use. Its sturdy construction and smart lock mechanism provide customers with a reliable way to store their jewelry worry-free.

Who Is The Founder Of Lion Latch?

The founder of Lion Latch is Lerin Lockwood, who is an art teacher. Lerin conceived the idea of creating Lion Latch after facing difficulties protecting her rings while engaging in activities like sports and working with art materials that could damage them.

Before appearing on Shark Tank, Lion Latch had already gained recognition and accolades. It won the GOTEXAN’s 2020 People’s Choice Award, secured third place in SCORE’s InnovateHer challenge in Austin, Texas, and was a runner-up in the Mama Ladder’s High Five Grant.

Additionally, Lion Latch was featured on popular TV shows like The View and Good Morning America Deals and Steals.

How Was The Shark Tank Pitch Of Lion Latch?

  • Founder: Lerin Lockwood
  • Product: Compact, portable jewelry storage container
  • Investment Seeking: $150,000 for 15% equity
  • Final Deal: No deal

Lerin Lockwood’s pitch for Lion Latch on Shark Tank Season 13 was compelling. She introduced a small plastic tote designed to keep jewelry and valuables secure.

The pitch began with a theatrical reenactment demonstrating the product’s utility, emphasizing the importance of not losing valuable items.

Lion Latch Shark Tank Net Worth

Lerin shared the inspiration behind Lion Latch, recounting how she lost a diamond from her engagement ring during softball practice, prompting her to create a solution.

She highlighted the product’s success, with $530,000 in sales over five years, including $230,000 in sales in 2020, resulting in a profit of over $50,000.

Despite the impressive sales figures, none of the Sharks – Kevin O’Leary, Mark Cuban, Emma Grede, Lori Greiner, and Barbara Corcoran – made an offer.

While they admired Lerin’s passion and the product’s functionality, they raised concerns about scalability. The Sharks believed that Lion Latch might not achieve significant sales growth.

Lerin sought a partner to address manufacturing, packing, and shipping challenges. Although she did not secure a deal on Shark Tank, Lion Latch continued to thrive.

The company expanded its product line with new themes and colors and became one of the first official TikTok Shops, attracting over 20,000 orders within the first three months.

SharkInvestment OfferedCounter Offer by FounderFinal Deal Accepted
Kevin O’LearyNo Offer
Mark CubanNo Offer
Emma GredeNo Offer
Lori GreinerNo Offer
Barbara CorcoranNo Offer

Despite the Sharks’ lack of investment interest, Lerin Lockwood’s Lion Latch journey post-Shark Tank has been successful, showcasing resilience and growth in the face of challenges.

Did Lion Latch Get a Deal on Shark Tank?

Lion Latch, a compact jewelry storage container, appeared on Shark Tank Season 13 Episode 1, seeking $150,000 for 15% equity.

Despite generating $530,000 in sales from 2015-2020, the Sharks, including Kevin, Mark, Emma, Lori, and Barbara, did not invest. Thus, Lion Latch did not secure a deal on Shark Tank.

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What Happened To Lion Latch After Shark Tank?

Following the Shark Tank appearance, despite not securing a deal, Lion Latch persevered and found success through social media channels, especially TikTok.

The company experienced remarkable growth, receiving 20,000 orders within three months of joining TikTok and subsequently moving to a new headquarters to accommodate the surge in demand.

 Lerin Lockwood’s strategic decision to engage with a local manufacturer and tap into the power of social media played a crucial role in Lion Latch’s expansion.

Lion Latch Shark Tank Net Worth

Expanding beyond its core product, Lion Latch diversified its offerings to include a wide range of products, such as glow-in-the-dark tumblers and odor eliminators for shoes.

Leveraging Lockwood’s background in sports and coaching, the company introduced themed designs related to various sports, appealing to a broader audience.

With a strong social media presence and an engaged community of followers, Lion Latch continues to thrive.

Lion Latch’s net worth is estimated to be $1.5 million, showcasing its sustained growth and market presence.

Lerin Lockwood’s entrepreneurial spirit and commitment to innovation have propelled Lion Latch into a successful business with a promising future ahead.

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Lion Latch Shark Tank Update

After appearing on Shark Tank, Lion Latch, founded by Lerin Lockwood, faced a setback as none of the investors on the show chose to invest in the business.

Despite this, the exposure from the show and subsequent media coverage helped Lion Latch gain significant visibility.

The company received wholesale inquiries from other businesses, was featured on “Good Morning America,” and won the Texas Department of Agriculture’s Go Texan People’s Choice Award.

The most significant boost came from social media, particularly TikTok, where Lion Latch amassed a large following and engagement. This led to the brand being invited to be one of the first TikTok shops, resulting in over 20,000 orders shipped within the first three months.

Additionally, Lockwood was invited to participate in the TikTok shops panel at the Cannes Lion Festival in France.

Lion Latch, which began with a single patented product, has grown to include a broad range of products, such as Air Tag holders, Stank Stix for deodorizing shoes, a glow-in-the-dark tumbler set, and the multifunctional Lion Pack bag.

The brand’s merchandise is available on its website, TikTok shop, and Amazon page. Lockwood’s determination and belief in her product enabled her to turn the Shark Tank rejection into a learning opportunity.

Following the advice she received, she found a Texas-based manufacturer to meet customer demand, which contributed to Lion Latch’s success. The business has since moved into its official headquarters, indicating growth and expansion.

Lion Latch is still in business and thriving despite not securing investment in Shark Tank. The company’s net worth is estimated to be $1.5 million, but its success on social media platforms and the expansion of its product line suggest positive growth and potential for further success in the future.

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What Is the Net Worth Of Lion Latch?

According to our research, Lion Latch’s net worth is estimated to be $1.5 million. The valuation of Lion Latch was $1 million when it appeared on season 13 of Shark Tank.

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