Pandaloon Shark Tank Net Worth 2023
When Daymond acquired the company in 2021, it was valued at $171,427 less than the initial pitch of $400,000; however, since then the company has been doing very well and has managed to generate a revenue of $900,000 by 2021.
This significant jump from the initial valuation is proof of how successful the business has become and continues to grow.
As of January 2023, The Company is still active and profitable with an annual revenue of $2 million which has provided an even higher net worth for the company compared to before.
What is Pandaloon?
Pandaloon specializes in creating adorable dog costumes, with their most famous design being the panda bear costume. The business was founded by Eugenia Chen, who used to be a college math instructor and was also a content creator for Huxley the Panda puppy.
Ms. Chen earned her degree from the University of California, San Diego and holds a Master of Business Administration in Computational Science from San Diego State University. She currently focuses on running Pandaloon.
The company gained worldwide recognition when Ms. Chen posted a video on YouTube featuring her pet Pomeranian dressed up in a panda costume. The video went viral, with over 140 million views, and significantly increased traffic to the Pandaloon website.
The pet costumes are the main feature of the company, which operates in Southern California, selling panda-themed clothes, accessories, and costumes for pets. However, Pandaloon also offers merchandise featuring other animals, such as teddy bears, polar bears, and lions.
Aside from pet costumes, Pandaloon also sells human items like t-shirts, slippers, caps, and socks, as well as dog harnesses and carrying bags. Ms. Chen is passionate about pandas and supports Pandas International by donating a portion of each sale.
What Happened to Pandaloon at Shark Tank pitch?
Eugenia, who had gained internet fame, decided to pitch her business idea to Shark Tank investors to further grow and thrive in the future, despite being busy with her online success.
Seeking a $60,000 investment for a 20% stake in her business at a $300,000 valuation, Eugenia presented her business, Pandaloon, with her business partner Huxley, dressed as a panda.
After some joking around with the Sharks, Eugenia distributed samples of her costumes and shared that they cost $4 to create and retailed for $39.99. She had sold $300,000 worth of outfits in three years and needed the investment to stock up on supplies for Halloween.
While some of the Sharks didn’t see the potential in the business and exited the pitch, Daymond offered $60,000 for 35% ownership of the business, with 10% going to animal-related charities. Following some discussion and offers from other Sharks, Eugenia accepted Daymond’s offer, and the deal was completed.
After the show aired, Pandaloon’s outfits sold out, and they are now available for purchase on Amazon. The company continues to operate and generates $900,000 in yearly sales, with a portion of the charity contributions going to organizations such as Remember Me Thursday and the Petco Foundation.
Eugenia continues to attend pet exhibits and meet up with other dressed-up dogs with Huxley by her side.
Net Worth of Pandaloon
During the pitch the company was valued at $400,000 and after Daymond acquired the company valued at $171,427.
Since then the company had made good sale with the revenue of $900,000 in 2021, this show that the company net worth has raise.
Pandaloon FAQs
What is Pandaloon?
Pandaloon is a San Diego-based company that makes pet costumes.
Who are the owners of Pandaloon?
Eugenia Chen is the founder and CEO of Pandaloon. She designs the clothes, while Huixing Chen designs the outfits for dogs.
What is her offer on Shark Tank?
She was asking for $60,000 for 20% equity stakes in the business, meaning a valuation of $300,000.
Did she get the deal?
Yes, after an offer from Daymond John she accepted the deal.
What is the offer?
Daymond John offered $60,000 for 35% ownership of Pandaloon with 10% going to animal-related charities.
Is still in business?
Yes, Eugenia continues to operate Pandaloon.
Where is the Pandaloon headquarters located?
Pandaloon’s headquarters are located at PO Box 711732 in Santee, California 92072.
What is the official website of Pandaloon?
The official website of Pandaloon is located at www.pandaloon.com.
How much money does Pandaloon make?
Pandaloon generates $5 million in income.
How many workers does Pandaloon have?
Pandaloon employs 25 people.
What industry does Pandaloon operate in?
Pandaloon is a manufacturer of pet products, consumer goods, and apparel.
What technology stack does Pandaloon use?
Pandaloon makes use of the following technologies: Signifyd, Klaviyo, Twitter Cards, and Cloudflare Content Delivery Network
What is the goal of Pandaloon?
Pandaloon creates pet costumes, which are an integral part of Halloween for many people. The company aims to continue to design and produce these cool items for years to come.
What is a panda puppy?
However, the Panda Dog is not actually a Panda; it is often a Chow, a fluffy breed of dog native to China, which has been properly groomed, haircut, and colored to resemble Pandas.
What is a teddy bear dog?
Shichons are a combination of the Shih Tzu and Bichon Frise dog breeds. These pups are affectionate, bright, and extroverted, inheriting some of the greatest characteristics from both of their parents.
Shichons are also known as Shih Tzu-Bichon mixes, Zuchons, and Teddy Bear dogs.
What episode of Shark Tank is Pandaloon on?
In Shark Tank episode 911, Eugenia Chen seeks a Shark to partner with her in Pandaloon, a line of little dog and puppy costumes.
What is the height of Huxley the panda?
Huxley, the panda dog in the Pandaloon Company, is 28 inches tall.
What is the net worth of Eugenia Chen?
The net worth of Eugenia Chen is unknown.
