Highlights
- Eugenia Chen seeks a Shark partner for Pandaloon, her line of small dog and puppy costumes.
- She requests $60,000 for 20% equity in her business, which features a variety of animal-themed apparel.
- Pandaloon gained popularity after a viral video of her dog, Huxley, in a panda costume.
Overview
| Category | Details |
|---|---|
| Name | Pandaloon |
| Founder | Eugenia Chen |
| Industry | Pet Apparel |
| Product | Dog costumes and accessories |
| Funding | $60,000 |
| Investment Ask | $60,000 |
| Equity Offered | 20% |
| Valuation | $300,000 |
Eugenia Chen seeks a Shark to partner with her in Pandaloon, her line of small dog and puppy costumes, in Shark Tank episode 911. Chen apparently is enamored with all things panda related, though other animals are featured in her product line too. Based in Southern California, Chen runs her small business which sells panda themed apparel, accessories and pet costumes.
The pet costumes put the company on the map. Chen was working as a college math instructor when she created a panda costume for her Pomeranian, Huxley. She took a video of him running around her home and the video went viral with over 400,00 views. Her website blew up and put the business on the map. Now she focuses full-time on her panda themed business.
Besides pandas, Pandaloon features teddy bear, polar bear and lion costumes. There are three sizes, based on your dog’s size. She has products for humans, too: everything from tee shirts to slippers, hats and socks. There are also harnesses and carrying bags for dogs. Her love of pandas extends beyond her business; a portion of every sale goes to Pandas International. While riding the wave of her (or rather Huxley’s) internet fame is keeping her busy for now, she hopes a Shark will help her continue to grow and thrive going forward.
Will a Shark want to team up with the pandas??
Pandaloon Company Information
Video
Posts about Pandaloon on Shark Tank Blog
Panda Loon – Dog Costumes and More
Pandaloon Shark Tank Recap
Eugenia enters the Tank seeking $60,000 for 20% of her company. She apologizes for her business partner running late, then Huxley comes trotting out in his panda costume. The Sharks laugh, then she goes on with her story and pitch. After she’s done, she gives Huxley to Lori and hands out samples. Kevin asks why she has this business instead of using her degree and she says it was hard finding jobs when she graduated due to the recession.
She’s in the middle of manufacturing the latest run of costumes. They cost $4 to make and they will sell for $39.99. In three years, she sold $300,000 worth of costumes. She wants the cash to have enough inventory for Halloween.
Did Shark Tank Invest In Pandaloon?
Kevin says “I’ve never really understood people that dress up rat dogs in outfits. It’s just bizarre,” and he’s the first Shark out. Mark is next out, stating it’s not a fit for him. Lori doesn’t see a market for it; she’s out. Daymond says the costumes bring joy to people as evidenced by the Sharks’ laughter. He offers $60,000 for 35% with 10% going to animal related charities. After Sara offers the $60,000 for 30%, there is some discussion about Sara and Daymond teaming up. Daymond decides he’s sticking with his offer and Eugenia goes with Daymond.
Pandaloon Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. The deal with Daymond closed and the costumes sold out following the original air date. They are available on Amazon. Undoubtedly, some of the charitable contributions will go to Remember Me Thursday, a pet adoption advocacy group Daymond is involved with, and the Petco Foundation, where Daymond sits on the board. Eugenia continues to take Huxley with her to pet shows and she does meet-ups with other costumed dogs regularly. As of January, 2023, the company is still in business and does $2 million in annual revenue.
See what else is new! View other businesses featured in this episode.
