Shark Tank Update: What happened to Wallet Buckle after the show? Details explored

Trevor and Justin Johnston appeared on Shark Tank season 8 episode 23 to pitch their belt buckle venture, Wallet Buckle. The duo made a belt buckle that can hold its user's cards, presenting a convenient alternative to traditional wallets.

The Johnston brothers entered the reality show seeking $500,000 for a 10% equity stake in their business. However, they left the stage without a deal, as the Sharks were skeptical about the company's valuation, considering its limited sales.

Although the duo left without a deal, their appearance on the show significantly boosted their business. According to Shark Tank Blog, the company secured licensing deals with major sports leagues, increasing its annual slates to an estimated $3 million by July 2024.

---

Wallet Buckle's journey: From Shark Tank pitch to continued success in 2024

Wallet Buckle's pitch and sales before the Shark Tank

Trevor and Justin Johnston appeared on Shark Tank season 8 episode 23, explaining that their belt buckle was also a wallet. During their pitch, they revealed that their existing users were already fans of their product. Their goal for appearing on the show was to expand their reach and attract a global audience.

Wallet Buckle's product was a stylized buckle that could hold up to five credit cards and/or IDs. It was designed to offer a hassle-free solution for individuals who struggle to locate their cards in their wallets. The buckle also caters to those who prefer not to carry wallets while traveling, ensuring convenience and ease of access on the go.

Revealing their profit, the contestants shared that the making cost was between $5 and $7. They charged $49 per piece, giving them a profit margin of 85-90%. Before their appearance on Shark Tank on May 5, 2017, they sold approximately 15,000 units and generated nearly $500,000 in sales during their initial 18 months. They expected to reach $800,000 by the end of 2017 and $2.5 million in 2018.

The Johnston brothers used to sell their products at country music festivals and fairs, and 80% of their sales came from those live events.

---

Wallet Buckle left the show with no deals

While all of the sharks were impressed by Wallet Buckle's creativity and originality of their product, they had their fair share of doubts. Kevin O'Leary declined the offer, expressing skepticism about their business model. He criticized their reliance on kiosks and festivals for sales, deeming it impractical and unsustainable.

While Robert Herjavec felt that the product had limited market appeal, Daymond John argued that it would face significant challenges in mass retail without the support of a dedicated storefront. Lori Greiner and Mark Cuban also pulled back, sensing restricted growth potential.

---

Wallet Buckle's growth after the show

Trevor and Justin Johnston's Shark Tank appearance helped Wallet Buckle, providing an additional boost to the already growing business. The company is still in business and thriving while maintaining a steady presence in the market.

After their reality TV appearance, the Johnston brothers secured licensing deals with major promotions like the NFL, MBL, NBA, and NCAA. These deals expanded their business and sales, helping them reach a border user base through sports-themed belt buckles.

According to the Shark Tank Blog, Wallet Buckle grew their annual revenue to $3 million in 2024. Their products are available through their website and can be bought from all around the world. Their Instagram page is also active and regularly posts videos, updating their user base on new additions and upcoming sales.

---

Shark Tank season 16 episodes are currently airing on ABC.