Lion Latch Net Worth Shark Tank Update 2025 

Losing small items like rings or hearing aids is something many people experience, especially when they take them off for activities like workouts or swimming. Lerin Lockwood, who used to be a teacher and coach, faced this issue when she lost the diamond from her engagement ring while playing softball. To solve this problem, she created Lion Latch, a handy plastic container that keeps small valuables safe.

Lerin pitched Lion Latch on Shark Tank in Season 13, seeking $150,000 for 15% ownership of her business. She demonstrated how her product is useful for athletes, travelers, and busy individuals who want to keep track of their belongings. Despite having $530,000 in sales over five years, the sharks were skeptical about its potential for growth and decided not to invest.

However, Lerin didn’t give up. After her time on Shark Tank, Lion Latch broadened its range of products and became one of the first brands to sell on TikTok Shop, quickly receiving over 20,000 orders in just three months. Today, the company is still doing well, showing that success can still be achieved even without receiving backing from the sharks.

Lion Latch Net Worth Shark Tank Update 2025 

Lerin was looking for an investment of $150k in exchange for 15% equity in the company. At the time of the episode, she valued her company at $1 million. Lerin did not secure a deal with any of the sharks. The company’s net worth stayed at around $1 million. After the show was aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of Lion Latch in 2025 is around $2 million.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Emma Grede	Out	N/A	N/A
Lori Greiner	Out	N/A	N/A
Kevin O’Leary	Out	N/A	N/A
Barbara Corcoran	Out	N/A	N/A
Mark Cuban	Out	N/A	N/A

Lerin Lockwood Backstory + Their Initial Pitch 

Lerin Lockwood’s story with her business, Lion Latch, began after a tough experience when she lost the diamond from her engagement ring while playing softball. Wanting to prevent this from happening again, she created a small, secure container using 3D printing to hold jewelry safely. People around her, like teammates and coworkers, liked the idea and encouraged her to start a business.

At first, she faced some challenges with making and delivering her product. Each Lion Latch cost her $1.50 to produce, and she sold it for either $5 to retailers or $10 directly to customers. By 2020, her hard work had paid off, and she had made $230,000 in sales, earning a profit of $50,000. Still, managing everything on her own was tough.

When she appeared on Shark Tank, Lerin showcased how her product worked and even made a light-hearted joke involving hearing aids, which amused the sharks. However, when it came to the business side of things, the sharks became concerned. Lerin wanted help with manufacturing and distribution, hoping the sharks could offer some guidance and financial support.

Despite liking her product, the sharks ultimately decided not to invest because they felt it wouldn’t grow into a large-scale business.

Queries + Shark’s Responses, and Final Deal

Kevin O’Leary: He was the first to reject the investment idea. Although he liked the product, he believed it wouldn’t grow into a large business. He felt it was too specialized to attract significant investment.

Mark Cuban: He agreed with Kevin and thought the market for the product was too small. He didn’t think it could sell enough to be a worthwhile investment.

Emma Grede: She appreciated Lerin’s enthusiasm and how well she presented the product, but ultimately felt it wasn’t a good fit for her. She suggested Lerin should consider selling the product directly to consumers instead of through wholesale channels.

Lori Greiner: Known for her success on QVC, Lori saw some potential in the product but chose not to invest. Instead, she advised Lerin to find a reliable manufacturer to help improve production processes.

Barbara Corcoran: Barbara admired Lerin’s determination and hard work, but also decided not to invest. She thought the business model wouldn’t be able to grow significantly.

In the end, none of the sharks chose to put their money into the product, meaning there was no deal made.

What Went Wrong With Lion Latch  On Shark Tank?

The sharks were worried that while Lion Latch was selling well at the moment, it might not become popular enough to be recognized by everyone in households. Lion Latch is mostly used by specific groups of people, like athletes, travelers, and those who frequently take off their jewelry. This limited audience could make it hard for the product to achieve widespread popularity.

There are already similar products available in the market. This means that Lion Latch might struggle to differentiate itself and attract customers when other options exist. The design of the Lion Latch is simple and easy to replicate. Without a patent, there’s nothing to stop other companies from copying the product, which could hurt its market share.

Despite these hurdles, Lerin, presumably the entrepreneur behind Lion Latch, remained determined and continued to pursue his goals rather than giving up.

Product Availability

Lion Latch is a product that you can still get today. The company has added new colors and styles, including fun beach themes and sporty designs, so there’s a variety to choose from. The prices start at $10 for one latch and go up to $25 for packs that include multiple latches.

You can purchase Lion Latch from their official website and Amazon. They are also available at TikTok Shop, where they quickly became popular, receiving over 20,000 orders.

What Happened To The Lion Latch After Shark Tank?

Lerin, despite not having a formal agreement or deal, decided to follow Lori’s suggestion and discovered a more suitable manufacturer based in Texas. As her sales increased, she made several key changes to her business As her sales grew, she relocated to a larger office or facility to accommodate her expanding business.

She started offering a wider range of styles, which means she had more options for customers to choose from, attracting a broader audience. Lerin’s products gained popularity on TikTok, a social media platform known for its short videos, which demonstrated that there was a strong demand for what she was selling.

Now, she also shares her experiences and insights by speaking at business panels, where she talks about her journey as an entrepreneur and the lessons she’s learned along the way.

Conclusion 

Lion Latch is a company that appeared on Shark Tank to seek investment, but they didn’t manage to secure a deal with any of the sharks. Despite this setback, Lerin, the person behind Lion Latch, didn’t give up. Her hard work and determination led to the company continuing to grow, with increasing online sales and opportunities to sell in physical stores.

Although the sharks were unsure if the company could grow significantly, Lerin demonstrated that with a quality product and dedication, success is possible. Her journey serves as motivation for other small business owners, encouraging them to keep striving for their goals, even if they don’t have the backing of the sharks.