Trevor and Justin Johnston Appear Before The Sharks In Season 8
Highlights
- Wallet Buckle was brought to the Shark panelists in the eighth season.
- Trevor and Justin Johnston could not bag a Shark Tank deal for their product.
- The Shark investors were apprehensive about Wallet Buckle’s valuation and viability.
The basic Shark Tank framework involves the Sharks locking deals with pitchers based on how investable their product/business is. Another aspect of this is that the Shark Tank viewers come across plenty of useful products. One example of this was seen in the Wallet Buckle Shark Tank pitch.
Wallet Buckle was a unique product from the fashion vertical that was brought to the Shark investors in the eighth season. Entrepreneurs Trevor and Justin Johnston emphasized the fact that their Shark Tank product could be used both as a belt buckle and a wallet.
Below is a detailed description of how the unique Wallet Buckle, which was seen in the eighth Shark Tank season, unites fashion and function. Along with it, information about its Shark Tank deal and journey after the show has also been provided.
Wallet Buckle Shark Tank: Pitch Recap
The entrepreneur duo of Trevor and Justin Johnston entered Shark Tank seeking $500K for 10% equity in Wallet Buckle. They explained that the product was a metal buckle with an opening that could help one securely place their cards or IDs. This is how Wallet Buckle was a great travel pick.
By the time of the Wallet Buckle Shark Tank appearance, its products were sold at fairs and country music festivals. Trevor and Justin then revealed that the product cost $50 and was available in dozens of designs. Plus, buyers could customize their Wallet Buckle product.
The entrepreneurs further went on to say that they started the buckle cum wallet venture in 2016 using a Kickstarter initiative. Wallet Buckle then grew with the help of their 33,000 followers on Instagram. By their appearance in 2017, Trevor and Justin had made $500K in sales in 1.5 years.
The duo added that with their potential deal with a denim manufacturer, they were projecting $2.5 million in sales by 2018. The Wallet Buckle entrepreneurs had gone to the Sharks for help with getting their products to a larger market.
Wallet Buckle Shark Tank: Final Deal
Despite the potential benefits, the Sharks were not impressed with the product and refused to invest in the Wallet Buckle Shark Tank deal. Kevin O’Leary opted out, citing the high valuation. Robert Herjavec exited the deal as he felt no businessman would be wearing it. Daymond John thought they needed their own store.
Lori Greiner made her way out of the Wallet Buckle Shark Tank deal as she felt the product was very ‘niche.’ Mark Cuban, too, did not invest for the same reason.
Now that a flashback of Wallet Buckle’s Shark Tank journey has been explained, have a look at the brand’s current status as provided below.
Wallet Buckle Shark Tank: Journey After The Show
After a failed Shark Tank attempt, owing to its doubled benefits as a belt buckle and a wallet, Trevor and Justin’s product saw a great sales boost. Wallet Buckle also finalized licensing deals with the NBA, NFL, NCAA, and MBL. The fashion venture initiated several in-person marketing activities at sporting events and festivals as well.
All of these developments helped Wallet Buckle to earn $3 million in annual revenue by July 2024.
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Conclusion
Even though the Wallet Buckle Shark Tank deal ended up in failure, the product emerged as a successful one. After the show, Trevor and Justin Johnston’s emphasis on combining fashion with function did wonders by resonating with buyers. The product’s innovative design and practicability led to increased demand.
Apart from this, through licensing deals and in-person marketing efforts, Wallet Buckle steered its way to sustained growth. This is how despite no Shark Tank deal, it has come out as a $3 million business.
Entrepreneur, auteur, raconteur. Rob Merlino is a blogger and writer who enjoys the Shark Tank TV show and Hot Dogs. A father of five who freelances in a variety of publications, Rob has a stable of websites including Shark Tank Blog, Hot Dog Stories, Rob Merlino.com and more.
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