Lit Handlers Net Worth – How Has Lit Handlers Net Worth Increased Since Their Appearance on Shark Tank?
Since appearing on Shark Tank, lit handlers’ net worth has seen tremendous growth. Now making over $1.2 million annually in sales and expanding into new product lines; their success can be attributed to many factors including social media popularity, Amazon/Etsy presence and the continued demand for personalized items.
Destiny Padgett, founder of Lit Handlers, sells stylish custom koozie sleeves with holders to keep beverages hot or cold. She came up with this product after experiencing an unfortunate tragedy in her life and self-employment as mother and beauty school dropout.
Destiny Padgett of Buna, Texas was an beauty school dropout with an information systems degree from Syracuse University and completed Brigham Young University’s Pathway Worldwide online program for two years. She worked as a supply chain management consultant before her life abruptly took a different direction when her partner passed away at only 10 weeks pregnant.
Padgett presented her business journey and impressive sales numbers during her pitch on Shark Tank, hoping for an investor who could help support its future expansion and licensing opportunities. Although three Sharks (Mark Cuban, Lori Greiner and Robert Herjavec) turned down her offer of $200,000 exchanged for 10% equity stake in exchange for this commitment from him – Daymond John saw something in it and offered Padgett $200,000 instead in return for 10% ownership stake in exchange for his investment of that sum.
The deal boosted Lit Handlers’ growth exponentially and resulted in an explosion of orders; half a million orders came pouring in just one month following their airing on Shark Tank! Sales spiked even further while publicity was increased substantially through Daymond’s strategic partnership, helping increase their net worth to $2 Million today.
Lit Handlers serves as a shining example of how any individual can launch their own business with hard work, determination, and passion. Never give up and surround yourself with people who believe in your vision and work with you to achieve success; whether starting up from scratch or already operating an established one it is always beneficial to continue growing and learning new things about business operations.
The company’s current objective is to expand their brand internationally. They plan on partnering with other businesses to produce more products and increase distribution channels, while simultaneously expanding their e-commerce presence to reach more customers. They are currently developing a new line of products which should be released shortly – we will update you as details become available! Thank you so much for reading!