Whatever Happened To Lion Latch After Shark Tank?

Everyone has stories about losing jewelry, rings, or other small valuables, but that may not be a problem much longer with the Lion Latch. The tiny colorful plastic tote opens up in two parts and stores small items with ease. Attached to the Lion Latch is a clip that can be placed on key chains, water bottles, bags, and more. 

Lion Latch got its start in 2015 from the mind of Texas-based art school teacher and coach Lerin Lockwood. She accidentally caught a volleyball with her engagement ring hand, instantly flattening the ring and causing the diamond to pop out and disappear. She went on to test out various solutions to keep her jewelry safe while playing, but failed to find anything secure enough. Eventually, she 3D-printed what would go on to become the Lion Latch, gaining attention from friends and work colleagues alike. 

As demand continued pouring in, Lockwood realized that there was a real need for her product. From there, she launched a Kickstarter that successfully surpassed her initial $14,000 goal. Soon after, she began securing wholesale opportunities and appearing on programs such as Good Morning America. In July 2018, Lockwood felt confident enough in her creation to audition for "Shark Tank."

What happened to Lion Latch on Shark Tank?

On "Shark Tank" Season 13, Lerin Lockwood asks for a $150,000 investment for 15% of Lion Latch. Following a presentation involving an actress in a trash can searching for their ring, Barbara Corcoran asks how a customer would avoid losing the diminutive storage vessel. Lockwood shows off the clip attachment feature, but it doesn't seem to wow the investors. 

Kevin O'Leary opens his Lion Latch to find hearing aids, which Lockwood playfully states he needs for his listening skills. Over the last five years since its launch, Lion Latch has brought in $530,000, with the last year alone bringing in $230,000 and $54,000 in net profits. She sells it wholesale and retail for $5 and $10 respectively, with each piece costing $1.50 to make. Her company has gone through three manufacturers, with her family having to drive back and forth with new orders for her to quality check before shipping. The task has become so arduous that she quit teaching. 

O'Leary doesn't see a way for the business to scale and after a shouting match with Lockwood, goes out. The other sharks have similar thoughts, either not having interest in the product itself or not seeing a feasible way for Lion Latch to become a booming brand. However, while leaving the tank, Lockwood is optimistic for her future, saying, "I expected to get a deal, I'm a little sad about that. But my plan is to go back home and get to work."

Lion Latch after Shark Tank

The sharks weren't the only ones left unenthused by Lion Latch. On the night of Lion Latch's October 2021 "Shark Tank" airing, fans had a similar mindset to Barbara Corcoran, as many didn't see how the product wouldn't end up getting lost itself, with @mzcaramelbunni commenting, "The lion latch would just be something else for me to misplace lol" while @YourBoyTre asked, "Hmm but what's keeping the Lion Latch attached to the person?" On a poll from the official "Shark Tank" Twitter page asking who would invest in Lion Latch, an overwhelming 61.7% of users answered "I'm out."  

This did little to stop founder Lerin Lockwood. The day following the broadcast, Lockwood shared a post on Instagram thanking those who sent in words of encouragement and continued support of the business. She also shared that she took Lori Greiner's advice and found a local manufacturer that she's been pleased with. In 2022, she was included on the advisory board for the United Inventors Association. 

In March 2023, Lion Latch become one of the first TikTok shops. It proved a beneficial move, with 20,000 orders coming in over the next three months. The growth was so intense that Lion Latch had to move to new headquarters. Ultimately, Lockwood felt that she had the last laugh regarding her "Shark Tank" outcome, explaining in a TikTok video in April, "But I think the sharks were looking out for me because look at the amount of orders I'm doing on TikTok shop. And just think about how heartbreaking it would be if I had to share a percentage of these sales with somebody. So thank you 'Shark Tank,' thank you sharks, and thank you TikTok shop." 

Is Lion Latch still in business?

Thanks to its "Shark Tank" appearance and widespread success across social media, Lion Latch continues to thrive. Since appearing on "Shark Tank" with only a select few Lion Latch varieties, the company has gone on to add to its product line immensely. Visitors to its website can find an ever-expanding lineup of Lion Latches available in solid colors such as red, pink, purple, turquoise, and maroon. There are also an array of stylish options, often themed around sports such as basketball, football, soccer, water polo, and more. 

The company even sells products not relating to its flagship product, including a 16 ounce glow in the dark tumbler and even a special odor eliminator for shoes. Many of these additional items and specialized Lion Latch designs seem to stem from founder Lerin Lockwood's background in sports and coaching. Along with being available on the official website, Lion Latch can also be found at retailers such as Amazon and Walmart.

Lion Latch has had an expansive reach across its social media accounts. With the exception of its Twitter which hasn't been updated since 2022, Lion Latch has seen a surge of new followers, with over 409,000 on TikTok alone alongside another near 30,000 between its Instagram and Facebook pages. The content consists of showing off nifty ways to use the Lion Latch, which is usually attached to a personal story from Lockwood about a time she nearly lost her jewelry. The company currently has a net worth of between $800,000 and $1 million.

What's next for Lion Latch?

The wealth of supportive comments across Lion Latch's social media indicate that founder Lerin Lockwood has succeeded in building a strong community who rally behind her product. This continues to be a virtue that Lockwood is holding close to for Lion Latch's future.

Starting in July, Lion Latch uploaded a series on its YouTube channel entitled "Shark Tank Reunion." In it, Lockwood gets the opportunity to speak with fellow "Shark Tank" alum such as Scrub Daddy creator Aaron Krause and Bug Bite Thing founder Kelley Higney at the Chicago Inspired Home Show. It's clear that Lockwood not only has a love for entrepreneurship, but sharing that passion with and empowering future business owners. 

Her own career has been going in a great direction. Along with hosting events for the United Inventors Association from time to time, her expertise in running a company through the social media space has received notable attention. In June, she got to speak at the Cannes Lion Festival in France about her experience operating a shop on TikTok and even got to meet TikTok CEO Shou Zi Chew. 

As for Lion Latch itself, the future seems bright. She recently shared that the company has sold 37,000 Lion Latches on TikTok and are always looking for new ideas from customers on designs. One idea Lockwood herself suggested in a recent TikTok video was selling Disney-themed Lion Latches at Disney World, indicating a possible future in licensing the product for such purposes.