Elephant Pants Shark Tank Net Worth 2023
The Elephant Pants is a company that sells comfortable elephant-themed apparel. It appeared on Shark Tank in 2023 and asked for $500,000 for 10% of the company, suggesting a $5 million valuation.
Daymond John offered an investment of $500k for 20% equity. The company’s net worth was estimated to be around $7 million in 2022.
What is Elephant Pants? Who Founded Elephant Pants?
Elephant Pants have gained popularity among both tourists and locals in Northern Thailand as a comfortable and loose-fitting trouser featuring an elephant pattern.
These pants are also commonly referred to as Hippie Pants or Harem Pants. The founders of Elephant Pants are James Brooks and Nathan Coleman.
In 2014, while on a trip to Thailand, friends James Brooks and Nathan Coleman discovered locally-made clothing shops that honored elephants through their creations.
During their visit, Coleman purchased several pairs of elephant-print trousers from a shop in the tourist town of Chiang Mai. The positive responses they received from wearing these pants sparked the idea for their business, Elephant Pants.
Elephant Pants Shark Tank Pitch
They started their company by successfully raising $8,426 on Kickstarter. Their initial product was a one-size-fits-all pair of pants priced at $24.95, available on Amazon and in yoga classrooms and small retail stores throughout the country.
The company has since expanded to include fleece-lined pants, yoga pants, shorts, shirts, and more.
For every sale, the company donates one dollar to the African Wildlife Foundation’s Say No campaign, which aims to reduce demand for ivory through education.
During their pitch on Shark Tank, the founders arrived with a paper mache elephant dressed in pants, but ultimately revealed their true product and their efforts to save elephants.
Despite some of the Sharks finding the pants unappealing, the company had made $7 million in sales in two years, largely through targeted Facebook campaigns.
While some Sharks offered lines of credit with equity, the founders ultimately made a deal with Daymond for $500,000 in exchange for 15% ownership and 2.5% advisory shares.
However, as of February 2019, the company’s corporate website was inactive, and their products were no longer available on Amazon.
An email from a representative of a similar company indicated that The Elephant Pants had gone out of business and sold their company to a Chinese supplier, though it’s unclear whether they retained control of their domain name, TheElephantPants.com, which now redirects to a different website.
Elephant Pants Net Worth
James and Nathan stroll in and ask for $500,000 for 10% of their company, suggesting a $5 million valuation.
Daymond John made Nathan Coleman and James Brook an offer of $500,000 for 15 percent Plus 2.5 percent in advisory shares. This brings the company’s valuation to be $3.3 million.
Elephant Pants Competitors
Kids Harem Pants is The Elephant Pants biggest rival.
Elephant Pants FAQS
What exactly are Elephant Pants?
Elephant Pants, also known as Shalwars in Persian/Turkish, are a popular piece of apparel worn by both tourists and residents in portions of Northern Thailand.
It’s a loose, comfy trouser with an elephant pattern on it. Elephant Pants are also known as Hippie Pants and Harem Pants.
Who founded Elephant Pants?
Elephant Pants was founded in 2014 by two college friends and Brooklyn, New York residents Nathan Coleman and James Brooks, who discovered the product during one of their travels to Thailand in 2013.
Elephant pants are made of what material?
Marble Elephant Pants made of Thai rayon fabric that is super soft and lightweight.
These high cut gender neutral Elephant Pants all have a comfortable smocked waist and one side pocket. Most people wear a one-size-fits-all.
Is it true that elephant pants got a deal on Shark Tank?
On Shark Tank Season 8 Episode 18, Nathan Coleman and James Brook accepted a $500,000 offer from Daymond John for 15 percent Plus 2.5 percent in advisory shares.
Are elephant pants gender neutral?
Available in a variety of cuts and styles for both men and women.
How much is the elephant pants worth?
James and Nathan walked in and asked for $500,000 for 10% of their business. This implies that they were looking to get a $5 million valuation.
When was the Elephant pants company launch?
The Elephant Pants Company was launched in 2014.
Who owns elephant pants?
Elephant Pants is owned by Nathan Coleman and James Brooks.
What are the biggest rivalries of elephant pants?
Elephant Pants’s biggest rivals are Kids Harem Pants.
How much does Elephant Pants costs?
The pants are one-size-fits-all and cost $24.95.
Who is Elephant Pants targeting?
Nathan says their main target market is female 18-24 year-olds.
What are the Elephant Pants made out of?
100% high quality Thai rayon fabric.
When did the elephant pants business end?
According to an email from Joe at Harem Pants in July 2021, The Elephant Pants Company went out of business at the end of 2018.
They sold their company to an unknown Chinese supplier. They assume that they kept TheElephantPants.com but redirected it to The Elephant Pants, which the current owner controls.
Is Elephant Pants profitable?
They have generated over $7 million in sales since 2017.
How much is James Brooks’ worth?
Currently there is no update of his worth
How much is Nathan Coleman worth?
Currently there is no update of his worth
What happened to elephant pants after the Shark Tank?
Elephant Pants made a lot of money and gave $30,000 to help rescue elephants for a time.
The corporate website is currently inactive as of February 2019.
The most recent Facebook post came in December of 2018. Their merchandise is no longer accessible on Amazon.