Pandaloon Shark Tank Update

Pandaloon Shark Tank Update: Their Triumph Journey Post-Shark Tank

In the dynamic world of entrepreneurship, certain moments can make or break a company’s future. For Pandaloon, one such moment arrived in the form of Shark Tank, a platform that not only provides funding but also invaluable mentorship.

So, what is the latest Pandaloon Shark Tank update? After their captivating Shark Tank appearance, they underwent a transformation that shaped their business. They redesigned their product and introduced a few other variations. They have also contributed to animal welfare charities from a portion of their sales. 

Below, we delve into the latest Pandaloon update and how they have been doing since appearing on the show. We will also give you a recap, which will serve as a refresher. 

Pandaloon Shark Tank Profile

So, now you know the answer to, was Pandaloon on Shark Tank? Well, here is a table to give you an overview:

Company NamePandaloon
FounderEugenia Chen
Founded2015
ProductUnique pet panda-themed costumes
Asked Investment For$60,000 for 20% equity
Final Deal$60,000 in exchange for 35% equity
SharksDaymond John
EpisodeSeason 9, Episode 11
Air DateJanuary 2018
Business StatusIn Business
WebsitePandaloon
Headquarters9518 Mission Gorge Rd #711732, Santee, California, 92072, United States
Lifetime Worth (Sales)Estimated $2 million in annual sales 
Buy Product Buy on Amazon
Watch On Amazon PrimeWatch on Amazon Prime

Pandaloon Before Shark Tank

Pandaloon, the brainchild of Eugenia Chen, had humble beginnings rooted in her love for animals. 

Her passion for pandas transcended mere admiration. It evolved into a creative vision. This Southern California-based teacher crafted a panda costume for her Pomeranian, Huxley. 

Pandaloon Before Shark Tank

She then recorded a video of Huxley donning the panda costume around her home in 2015. This video went viral, with over 400,000 views. This is what led her to manufacture panda costumes. 

Her initial idea was simple yet captivating: create adorable costumes for small dogs and puppies with pandas as the focal point. His business was a one-woman show primarily boosted by her viral video. To secure more funding and mentorship, she opted to join the Shark Tank, 

Pandaloon on Shark Tank

The stage was set for a memorable Pandaloon Shark Tank episode aired in January 2018. Eugenia Chen stepped into the tank with a clear goal in mind. She wanted $60,000 in financing for 20% equity in her costume business. 

The math tutor entered the show with her furry mascot and inspiration, Huxley, dressed in one of Pandaloon’s signature costumes. The sharks couldn’t help but laugh and smile as Huxley made his adorable appearance. 

Pandaloon on Shark Tank

After the initial laughter and attention-grabbing moment, Eugenia delved into the story behind the brand. She explained how her business had taken off after the viral video. 

As the pitch unfolded, she revealed that each costume cost her $4 to make and was selling it for $39.99, highlighting the significant margin. In just three years, she sold $300,000 worth of costumes. 

However, not all sharks were sold on dressing up as pets. Kevin O’Leary was skeptical and bowed out. Mark Cuban and Lori Greiner followed him. 

It was Daymond John who saw the potential of Pandaloon. He recognized that the costumes brought joy to people. He offered $60,000 for 35% equity, promising that 10% of the profits should go to animal charities. Sara Blakely also extended an offer of the same amount for a 30% stake. In the end, Eugenia chose Daymond’s offer. 

What Happened to Pandaloon After Shark Tank?

After their electrifying appearance on this show, the brand didn’t just sit on their panda-printed laurels. They seized the opportunity that Daymond John’s investment and mentorship provided. 

First, they had so many sales after the show that they ran out of stock. But they scaled up their production with the new injected capital. They also expanded their presence to ensure everyone in the nation could access their products. 

Pandaloon also recognized the need to diversify its offering. While pandas remained their iconic staple, they extended to various products. These included teddy bears, polar bears, and lions. 

What Happened to Pandaloon After Shark Tank

This expansion broadened their appeal and attracted a wider audience of animal enthusiasts. Also, they introduced new products like pet harnesses and carrier bags. Other than pet garments, they also have clothes for humans, like t-shirts, hoodies, and slippers, which are all panda-themed.

But the post-Shark Tank journey for this brand wasn’t mainly about profits. Eugenia Chen remained committed to her love for Pandas. She ensured that a portion of their profits continued to go to Petco Foundation and Remember Me Thursday. 

This philanthropic approach endeared Pandaloon to customers who appreciated the brand’s dedication to panda conservation efforts. 

Pandaloon today has reduced the prices of its offerings. Their signature costume of a panda now costs $32.99 from $39.99. They also have several other offerings, with the lowest priced at $24.99. Their initial video has now clocked over 1.6 million views since 2015. 

Pandaloon Net Worth

On their Shark Tank episode, this company was valued at $300,000. The $60,000 they were asking for represented a 20% valuation of their company. Hence, 100% is $300,000. 

This valuation was based on their sales data and potential. By then, they were still in their journey’s early stages, with a viral video as their main claim to fame. 

Pandaloon Net Worth

Pandaloon after Shark Tank experienced a boom. We even mentioned that they, at some point, ran out of stock. Well, this shows that their valuation is currently high. We do not have access to their financials, but it’s reasonable to say that they have grown past their initial $300,000 valuation back in 2018.

Pandaloon Sales Data

From its inception in 2015 to their appearance on Shark Tank in 2018, it amassed total sales of $300,000. But after 2018, their trajectory took an upward path. It is reported that they have been amassing sales of over $2 million yearly as of January 2023. 

Is Pandaloon Profitable Now?

Yes, this firm is potentially profitable and still in business. As mentioned earlier, their cost of production was about $4 in 2018. They would then sell each outfit at $39.99. That is an impressive profit margin covering their office expenses, distribution costs, and other costs needed to run the company. 

Is Pandaloon Profitable Now

While they lowered their price to $32.99, they still have a good profit margin. Plus, they now deal with lots of pet merchandise. They are sure profitable. 

As we explore creative and entertaining ventures, let’s dive into the updates on SoaPen in our SoaPen Shark Tank update. Discover how this innovative bath product is making a difference in education and hygiene. Additionally, for those interested in unique bathroom solutions, don’t miss our IllumiBowl Shark Tank update, where we share insights into the latest developments in this practical and fun venture.

Conclusion

The above Pandaloon Shark Tank update has shared all the details about what happened to them after the show. The company became popular to the point of running out of stock. 

They had to revamp and streamline their manufacturing process to increase the output. They also expanded their offerings to incorporate other products like panda-themed sandals. 

Their reported sales data of $2 million annually shows they are on an upward trajectory and doing well. And despite their revenue increase, they have not abandoned animal welfare donations. 

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