What Happened to Lion Latch after Shark Tank? Lion Latch Shark Tank Update|
What is Lion Latch?
Lion Latch is a product that offers customers with a secure location to put their jewelry when exercising or participating in sports. It is made of two pieces of hard plastic and may be used to store earrings, rings, necklaces, and pendants.
Without zippers or screws, the Carabiner secures it. Users may then attach it to their keychain or gym bag, ensuring that their jewelry remains secure and unharmed.
The Carabiner enables the Lion Latch to be attached to a backpack, gym bag, or even a key chain. Not only can the Lion Latch securely hold earrings and rings whether at the gym or on the go, it also doubles as a pill box.
Lerin Lockwood is credited with inventing the Lion Latch. Lerin is a teacher of art who also assists with volleyball coaching at Texas Eclipse Club Volleyball.
She graduated from the University of the Incarnate Word with a Master’s degree in Sports Management. She is also the Youth Volleyball Coordinator for Rising Stars Youth Volleyball League in addition to operating Lion Latch.
Who is the founder of Lion Latch?
Lerin Lockwood is the founder of the Lion Latch. Lockwood is an art teacher and coach at a high school. Lerin is an energetic woman who regularly removes her earrings and rings when participating in sports.
After catching a softball during a game, she came up with the idea for her invention. When she felt a sting on her finger and removed her glove to investigate, she discovered that her engagement ring had been twisted and was missing a stone.
Many companies begin by resolving an issue, and Lockwood identified one: where to properly keep jewelry when it is removed. After experimenting with several designs, she arrived on her now-patented design.
It’s a two-piece, rigid plastic container for storing jewelry. A Carabiner secures it shut, and you can then attach it to your key chain, gym bag, or anything.
She launched the firm in 2015 after raising $14,592 through a successful Kickstarter campaign. Storing jewelry can help preserve it from harm caused by dirt, scratches from workout equipment, and more. She manufactures the product in her home state of Texas.
Lerin featured on Good Morning America in March 2020, which blew up her company. She offers the Lion Latch for $9.95 in nine different colors.
Additionally, they are popular promotional gifts, which you may customize with your brand logo. They are currently only accessible on her website and on Amazon.
What Happened to Lion Latch at Shark Tank pitch?
In episode 1301, Lerin Lockwood desires to latch a Shark for Lion Latch, her solution for keeping jewelry while exercising or participating in sports.
She wishes for a Shark to assist her in gaining access to shopping establishments.
Lerin entered the Shark Tank seeking $150,000 in exchange for a 15% stake in her business, which worth $1 million.
She describes the tragedies of lost jewels with the assistance of an actor who is “searching for her missing ring” in a garbage can. As the Sharks inspect their samples, she illustrates how it works.
Mr. Wonderful hearing aid is hidden within, sparking some back and forth between the two. “This will make me want to invest in you NOT,” Mr. Wonderful declares.
Lerin has grossed $530,000 in sales during the last five years, including $230,000 in the last year. She chose to resign from teaching in order to explore this chance.
Each unit costs $1.50 to manufacture, costs $5 to wholesale, and costs $10 to retail. Her issue is one of production. She has worked with three manufacturers and still individually packages each product prior to shipment.
Mr. Wonderful is the first Shark out, apparently irritated by Lerin barbs at his hearing. Mark was out if he cannot envision it growing to a $10, $20, or $50 million firm.
Emma was also uninterested; she also exits. Lori feels Lerin was capable of resolving her manufacturing problems on her own, and so she exits.
Barbara admires Lerin perseverance, but the business was too tiny for her, and she also exits. Finally she left the pitch concluded without a deal.
What Happened to Lion Latch after Shark Tank?
Despite the failure of securing a deal during the pitch, the company is still in business and the company revenue is yet to be revealed.
Competitors of Lion Latch
The primary competitor company that produces similar products is The Carabiner Jewelry Holder.
Net Worth of Lion Latch
The company valuation was $1 million during and after the pitch. Since then the company is still operating and hence the company net worth might be higher than that of pitch.
Lion Latch Shark Tank Episode Summary
|Shark Tank Episode||Shark Tank Season 13 Episode 1|
|Founder & Entrepreneur||Lerin Lockwood|
|Amount Asked For||$150,000 for a 15% stake in the business|
|Deal: Accepted Offer||No deaL|
|The Shark Investor||None|
|Business Net Worth||$1 million valuation|
|Business Status||The business is still in operations|
Lion Latch FAQs
What is Lion Latch?
Lion Latch is a jewelry holder that attaches to your Carabiner, belt loop, key chain, backpack or the metal slider of your gym bag. It’s a 2 piece plastic case for attaching to bracelets, necklaces and earrings.
Who is the founder?
The Lion Latch was invented by Lerin Lockwood, a teacher in San Antonio, Texas who also coaches volleyball at the Texas Eclipse Club Volleyball.
How much was she seeking on Shark Tank?
Lockwood was seeking for $150,000 for a 15% stake in Lion Latch, which had a net worth of $1 million.
Did she have the deal?
No, she didn’t have a deal with the Shark Tank investors.
Is Lion Latch still in business?
Yes, Lion Latch is still in business. In fact, it is available on the website and Amazon.
Where is Lion Latch located?
Lion Latch is located in San Antonio, Texas.
How much did it cost to manufacture the product?
It may vary from retailer to retailer but most distributors charge $1.50 for each unit and there a few wholesale distributors that ask for $5 to sell each unit.
How much does the Lion Latch cost?
Currently, customers can purchase a Lion Latch from $10.95 to $54.75 on their website or Amazon depends on the pack.
What is the market for Lion Latch?
The market is everyone who loves wearing jewelry and wants to keep their jewelry secure.
How does Lion Latch attach to your sport bag?
The Lion Lock attaches with a sturdy Carabiner. Users could also clip it onto their gym bag or back pack.
How does Lion Latch work?
The user opens the latch by inserting their hand under the top part of the latch.
What is the purpose of the Lion latch?
Keychain Jewelry Organizer This portable jewelry bag functions similarly to a compact locker, securely storing rings, necklaces, and other small goods such as medicines or hearing aids.
Is Lion Latch shipping?
Yes, Lion Latch is shipping. Currently, the product is shipped from San Antonio, Texas.
What is the shipping cost of Lion Latch?
The cost of shipping could vary from retailer to retailer and the website offers free delivery for orders over $50.
What is the delivery period of Lion Latch?
The product is shipped within two to four days.
Is Lion Latch having a warrant?
No, Lion Latch does not have a warrant.
What is Lion Latch return policy?
No returns are accepted.
How much does it costs to become an affiliate of Lion Latch?
To become an affiliate of the product, people can sign up as an affiliate on their website.
Is Lion Latch selling internationally?
Yes, the product is available internationally through their website and Amazon.com with free shipping for orders over $50.
Who is the CEO?
The founder and CEO of Lion Latch is Lerin Lockwood.
What is the net worth of Lerin Lockwood?
Lerin Lockwood is the founder of Lion Latch and her net worth is not available.