What Happened to LIT Handers after the Shark Tank?
What exactly is LIT Handlers?
Lit Handler is a company that makes hand carriers for various beverage sizes. Destiny Padgett established Lit Handlers in 2016, and her goods come in a variety of sizes, colors, designs, and shapes.
She also ensures that popular beverages ranging from water to champagne fit properly in containers ranging from a basic can to a half gallon jug and a half gallon of ice cream.
Cold drinks stay cold and hot beverages stay hot, yet your hands never feel cold or burnt.
She began with a small assortment but has now expanded to include a wide range of Handlers such as Pint Size Ice Cream, Wine Tumbler, Bottleneck, Pint Glass, Can, and Small and Medium Coffee. They also sell neoprene purses, sleeveless sleeves, and accessories.
Who is the originator of LIT Handlers?
Destiny Padgett established Lit Handlers, which has offices in New York City. Destiny used to be a bar owner with a penchant for beverage technology.
She is an entrepreneur who has built a successful business model on her previous experience as a bar owner.
She accomplished this after receiving a BBA in Information Systems from Syracuse University’s Tuck School of Business and worked as a supply chain management consultant for six years prior to launching Lit Handlers.
Destiny’s most innovative innovation to her patent-pending Handlers is the handles that make it simpler for all users, but especially for small baby hands, to pick up and hold onto the beverage.
There is also a handy pocket on the reinforced handle for small items like lip balm, mints, band aids, or a pen.
The LIT Handlers website has a sizing chart that allows consumers to know exactly what they need to purchase to satisfy their needs.
Handler’s items range in price from $4.99 for the smallest koozie to $69.99 for a large backpack and come in over a dozen sizes and hundreds of styles.
The company, based in Buna, Texas, currently exclusively does business through its website and Amazon. Nonetheless, it plans to grow in all areas, including production, sellers, and overall inventory.
What Happened to the LIT Handlers During the Shark Tank Pitch?
Destiny Padgett went to the Shark Tank pitch, attempting to entice an investor to make an investment in her firm with an offer of $200,000 for a 10% stake of her company, worth $2 million.
She then went on to detail her firm’s success, stating that in 2020, the company made $630,000 in revenue and is aiming for $780,000 in 2021. She claims she requires the assistance of a Shark in order to grow her firm’s licensing.
The Shark Tank investors were enthusiastic about investing in the firm. Kevin O’Leary was the first to make a $200,000 offer in exchange for 20% ownership of the firm.
The arrangement with Destiny’s firm excluded Robert Herjavec, Mark Cuban, and Lori Greiner.
Daymond John offers $200,000 for 25% of the company’s equity shares; Kevin O’ Leary immediately revises his offer to $200,000 for 25% of the company’s shares. Destiny counter-offers $200,000 for a 20% stock stake in her firm.
Destiny rejects Kevin O’ Leary’s offer and ultimately agrees to a deal with Daymond John for $200,000 in exchange for 20% ownership of the firm.
What Happened to the LIT Handlers After the Shark Tank?
Finally, the transaction between Daymond John and Destiny was completed smoothly.
LIT Handers’ business is still doing well, and they are now selling their items on their website as well as the Amazon website. In 2021, the firm produced total revenue of $1.2 million.
LIT Handlers’ competitors
The firm competes with a variety of competitors, including Skip Hop and Scanpan that provide comparable goods.
LIT Handlers’ net worth
LIT Handlers is still in business and had a net worth of $1.2 million.
LIT Handlers FAQs
How does LIT Handlers work?
LIT Handlers’ products include pocket-sized packs, which are specifically designed to hold drinks of all sizes. Not only do they keep the beverage safe, but they also provide a convenient way to carry them in their bag during travel time, which is usually the time when most of us need to have a drink.
The net holders for the LIT Handlers come in two types: The Standard and the Cold Holders. The Standard Holders are used for 2-liter cold drinks and can be easily used by anyone.
What is the return policy of LIT Handlers?
LIT Handlers have a 14-day refund policy.
What is LIT Handlers made of?
The company’s products are made from neoprene, which is a material used to make wetsuits.
Why did the LIT Handlers visit the Shark Tank?
LIT Handlers’ creator, Destiny Padgett, visited the Shark Tank seeking $200,000 in exchange for a 10% stake in her company, worth $2 million.
Where can people buy LIT Handlers?
People can now purchase LIT Handlers items through their website. Furthermore, they also have their Amazon storefront.
What is the size range of LIT Handlers?
LIT Holders’ Standard Koozie is designed for 12 oz. cans, while their Cold Holders can easily hold up to a 2-liter drink without any trouble.
What is LIT Handlers shipping cost?
The shipping cost for LIT Handlers products is $5.95.
How many types of LIT Handlers are there?
There are currently 12 different types of LIT Handlers on their website. They sell more than a dozen sizes and hundreds of styles.
How long does LIT Handlers last when used?
The company claims that the LIT Holders will last a minimum of six months. Anything after that would just be down to regular usage.
What is the warranty for LIT Handlers?
LIT Handlers do not have any kind of warranty on their products.
Does LIT Handlers sell to international customers?
Unfortunately, currently, all orders are only being processed in the United States for now.
How do I make payment for LIT Handlers?
LIT Handlers accept payments through PayPal, Amazon Pay, credit card and also bank transfers.