Trevor and Justin Johnston of Wallet Buckle appeared on
Shark Tank Wallet Buckle Update
- Entrepreneur: Trevor Johnston and Justin Johnston
- Business: A concealed wallet that doubles as a belt buckle
- Ask: $500,000 for 10% equity
- Result: No deal
- Shark: None
The idea behind the Wallet Buckle is simple—it’s in the name itself. The product is a belt buckle that also works as a wallet. The concealed wallet can store up to five credit cards or IDs, which makes it fairly convenient for when you’re always on the go.
The sharks loved the ingenuity of the product. Robert Herjavec couldn’t help but remark why no one else had attempted to do it before. According to Trevor and Justin, they’d been in business for 18 months at the time and their sales were around half a million dollars from concerts and rodeos.
Unfortunately, Kevin O’Leary couldn’t help but spoil the party. He balked at the high valuation and thought the product looked too much like a normal buckle. He didn’t think that customers would realize that it was also a wallet and dropped out. Robert agreed and said that the product was too limited, so he went out as well.
Daymond John was a fan, but he didn’t think that the combination of a buckle and wallet would sell enough. The same went for Mark Cuban, who went out because he didn’t think that there was a big enough market for it. Lastly, Lori Greiner went out as well as she believed that the product was too niche.
The silver lining in our Wallet Buckle update is that the company is still around and doing quite well despite not getting a deal on
While the sharks were right that there might not be enough of a market, especially if there was an investor on board, Wallet Buckle is still in business at the time of writing, and its social media accounts are still active. More importantly, the company has since done licensing deals with the NCAA, NFL, MBL, and even the NBA.
The most recent estimates suggest that Wallet Buckle makes an annual revenue of $3 million, which isn’t half-bad for a company run by two people.
Curious about the other companies featured on Season 8 Episode 23? Check them out here:
For more company updates from Season 8, visit our Season 8 products page.