Pandaloon Update | Shark Tank Season 9
Pandaloon went viral when Eugenia Chen made a video of her puppy wearing a panda costume. She was inspired to come onto
Shark Tank Pandaloon Update
- Entrepreneurs: Eugenia Chen
- Business: Pet Costumes
- Ask: $60,000 for 20% equity
- Result: $60,000 for 35% equity
- Sharks: Daymond John
The average cost per costume is just under $5 and are sold for $39.99. Most of Pandaloon’s costumes are sold on its website and has generated around $300,000 in revenue since launching three years earlier.
Pandaloon panda dog costume set includes full length hoodie costume, bamboo accessory and fit instructions
Kevin O’Leary didn’t believe in the idea behind the company and decided to be the first shark to drop out without making an offer.
Mark Cuban also believed he wasn’t the right fit for the investment, so he dropped out as well.
Lori Greiner felt that the target audience for this type of product was too niche, so she couldn’t convince herself to make an offer.
However, Daymond John expressed interest and offered $60,000 in exchange for 35% equity. He also told Eugenia that 10% of his purchased equity would be donated to animal charities.
Guest shark, Sara Blakely, was also interested and wanted to make an identical offer. However, Eugenia ultimately accepted Daymond’s offer.
Our Pandaloon update is exciting as we found that annual revenues have skyrocketed to more than $1 million per year.
Pandaloon is very much still in business and thriving with the support of Daymond. He also kept his word and donated a portion of his equity profits to animal rescue charities.
If we get more news on a Pandaloon update we will let you know!
You can find the other company updates from Season 9 Episode 17 here:
Don’t forget to take a look at our Season 9 products page! We’ve got more company updates from
