Shark Tank: Wallet Buckle Fails to Get A Deal

Wallet Buckle

Next into the tank are Trevor and Justin Johnston of Wallet Buckle, seeking $500,000 for 10 percent equity.

Wallet Buckle serves as both a belt buckle and easy-to-access wallet. The belt buckle/wallet hybrid comes in a variety of patterns and designs, including the American flag, beer, cheetah print, floral, police and more. Prices range from $39.95 to $295. They also offer belts, hoodies, shirts and phone cases. According to their Kickstarter campaign, the Wallet Buckle holds up to five credits cards and IDs and is both stylish and secure.

Robert Herjavec loves the presentation and makes him wonder why nobody else had thought of it before. In 18 months, they have done more than $500,000 in sales, most of which has been done at live events such as concerts and rodeos.

Kevin O’Leary worries that potential customers would not realize that the buckle contains a wallet. He also finds their valuation very high and goes out, followed by Herjavec, who believes it’s too limited. Daymond John likes the product, but worries about selling the buckle/wallet combination. He goes out, as does Mark Cuban, who doesn’t believe there’s a big enough market. Lori Greiner thinks it’s too niche and goes out as well.

Social Media Reacts to Wallet Buckle’s Appearance on “Shark Tank”

There"s a belt buckle wallet on #SharkTank I am so in.

— Ben Lubeck (@benlubeck) May 6, 2017

The newest way to get your credit / debit card stolen: the Wallet Buckle! #SharkTank

— David G. Johnson (@TheDavidJohnson) May 6, 2017

Ok….the wallet buckle??….seems more of a country & western accessory #sharktank

— singlemotherPOV (@marsay73) May 6, 2017

It"s a very clever product, a belt buckle wallet basically but they went crazy with the valuation #SharkTank

— J. Seaberry (@JJSea) May 6, 2017

Even if you don"t get a deal on #SharkTank you win because now all of America and the world know about your credit card belt buckle.

— Yvonne Chase (@ItsYvonneChase) May 6, 2017

Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging business to six multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group. Venture capitalist Chris Sacca is also slated to appear as a guest shark this season.

“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $87 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Friday at 9 p.m. on ABC.

Would you buy a Wallet Buckle? Sound off in the comments section below!

Source: B2C