Lion Latch Shark Tank Summary
|Episode||Season 13 Episode 1|
|Pitch||compact, portable jewelry storage container|
|Asked For||$150,000 for 15%|
About Lion Latch
What is Lion Latch?
A Lion Latch provides users with somewhere to store their jewelry as they exercise or play sports. It features a two-piece hard plastic container that one can put their earrings, rings, necklaces, and pendants. The carabiner keeps it securely locked without zippers and screws. Users can then tie it to their keychain or gym bag, keeping their jewelry intact and safe from damage.
Lion Latch Founder
Lerin Lockwood invented the Lion Latch. Lerin is an Art teacher who also assisted in coaching volleyball at Texas Eclipse Club Volleyball. She holds a Master’s degree in Sports Management from the University of the Incarnate Word. Besides running Lion Latch, she’s also the Youth Volleyball Coordinator at Rising Stars Youth Volleyball League.
Lion Latch Shark Tank Update
Did Lion Latch Get a Deal on Shark Tank?
On Shark Tank Season 13 Episode 1, Lerin Lockwood entered the Shark Tank seeking $150,000 for 15% of her portable jewelry storage container, Lion Latch. Despite her incredible progress and great margins, the Sharks felt the business was not big enough. The Sharks declined to make Lerin an offer and she left the Tank without a deal.
Is Lion Latch Still in Business
Lion Latch is still in business and sells its products through Amazon or via its website. The product comes in different colors that users can choose from, including neon green, turquoise, hot pink, and purple. The company has sold about 8,000 latches to date.
It has also been recognized with awards, including the GOTEXAN’s 2020 People’s Choice Award, and came runner up in the Mama Ladder’s High Five Grant. It was also featured on Good Morning America Deals and Steals and won third place in SCORE’s InnovateHer challenge in Austin, Texas.
Through the Latch, Lerin Lockwood aims to provide a safe storage locket for jewelry for multi-disciplinary individuals, including construction workers, athletes, gym enthusiasts, and health workers. Lion Latch is active on social media platforms such as Instagram.