Shark Tank: Pandaloon Accepts $60,000 Offer from Daymond John

Last into the tank is Eugenia Chen of Pandaloon, seeking $60,000 for 20 percent equity.

Pandaloon offers adorable animal costumes for pets. According to their website, the pet-apparel company’s “favorite panda bear gift ideas come from our love of adorably cute and fun panda fashion. From panda bear hats with paws to panda bear slippers, we want to outfit you with the best panda gear from head to toe.” Pet costumes include walking panda, teddy bear, polar teddy bear and lion getups, in addition to cute harnesses and shirts. Prices range from $12.99 to $49.99.

The sharks all agree that the costumes, which provide plenty of laughs in the tank, are adorable. The panda costume started out as a viral hit, accumulating more than 140 million views on YouTube. An entire business was built from there.

Guest shark Sara Blakely thinks the costumes are high quality and thinks the pricing is perfect. In three years, they have done $300,000 in sales and are profitable. They hope to get enough inventory together in time for Halloween with an investment from a shark.

O’Leary doesn’t understand the concept of dressing up dogs and goes out, followed by Mark Cuban and Lori Greiner. Daymond John, however, likes the costumes and offers $60,000 for 35 percent, 10 percent of which will go towards animal charities. Blakely then jumps in with an offer of $60,000 for 35 percent. Chen questions whether they would partner, but John declines. Ultimately, she accepts John’s offer.

Social Media Reacts to Pandaloon’s Appearance on “Shark Tank”

Ok, I love #Pandaloon! I can’t be the only one! Lol I’d totally buy one for my fur babies!! #SharkTank @ABCSharkTank @pandaloonstore

— Allison (@Allie_WVC) January 15, 2018

Still ROTFLOL at this #PandaCuteness. OMG! I want a puppy just so I can dress it up like THAT #SharkTank #Pandaloon

— Sharline Nabulime (@SharlineN) January 15, 2018

The @pandaloonstore costumes are so cute and I like the owner! As long as the pet doesn’t mind the costume, I support it. #SharkTank

— Amy Naas (@AmyNaas) January 15, 2018

I happen to LOVE the @pandaloonstore idea! The costumes are SO CUTE!!!!!! And I feel there is a market for this type of product, because I’ve seen SO MANY people who LOVE dressing up their Dogbabies! @ABCSharkTank #SharkTank

— Elsa#Troublemaker (@Elsa050467) January 15, 2018

How could I not partner with @Pandaloonstore after seeing this? #SharkTank pic.twitter.com/M0rd4D0k5j

— Daymond John (@TheSharkDaymond) January 15, 2018

Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging businesses to multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group.

Philanthropist and Virgin Group founder Richard Branson, Spanx founder Sara Blakely, Skinnygirl Cocktails founder and Real Housewife Bethenny Frankel, Vitamin Water founder Rohan Oza and former MLB player Alex “A-Rod” Rodriguez are also slated to appear as guest sharks this season.

“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $100 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Sunday at 9 p.m. on ABC.

Would you buy a Pandaloon costume for your pet? Sound off in the comments section below!

Source: B2C