After finding success in the fashion world, Patrick Robinson entered
Shark Tank Pashko Update
- Entrepreneur: Patrick Robinson
- Business: Community-made clothing and fashion line
- Ask: $500,000 for 2.5% equity
- Result: No deal
- Shark: None
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Pashko’s designs aren’t much different than any other fashion brand, but its mission is. The goal of the company is to bring jobs back to underserved communities and create a quality product in the process. Currently, Patrick has launched a community of makers in Gee’s Bend, Alabama, and recently started another in New York.
However, despite an admirable social mission, Patrick told the sharks that he is having supply chain issues and has a massive customer acquisition cost of $95. Despite this, in 2019 he was able to do $6.7 million in sales but still wasn’t profitable. After being asked about profitability, Patrick told the sharks that the company would be close to turning a profit once it crossed $7 million in sales per year.
After hearing out the pitch, all of the sharks dropped out for various reasons. However, most of the sharks agreed that their own lack of experience in the fashion industry mixed with an unprofitable company were the main reasons why they dropped out.
This just goes to show that even if you’re a well-known creator, it doesn’t mean you’ll get a deal with the sharks. So, what happened with Patrick’s company? Let’s take a look at a Pashko update.
It seems that things are going just fine for Pashko Apparel after leaving
If we get more news on a Pashko update, we will be sure to let you know. In the meantime, be sure to check out more company updates from
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