The Elephant Pants Shark Tank Pitch
The Elephant Pants are comfortable, MC Hammer styled pants that are the most comfortable pants in the world. They donate 10% of their net profits to saving elephants all over the world. James and Nathan met in college.
The company has over $7 million in sales over the last two years. The primary purchaser at 18-24 year old females and they have donated over $115,000 to help save elephants.
The Elephant Pants retail for $24.95 through their website. They do a lot of paid advertising, affiliate networks and influencers to sell their products. They spent $75,000 on advertising the previous month on $425,000 in sales.
The Elephant Pants Shark Tank Episode Data
- Company: The Elephant Pants – Website
- Entrepreneurs: James Brooks and Nathan Coleman
- Ask: $500,000 for 10% equity
- Episode Season 8 Episode 818
- Companies in this episode:
- First Aired: 02/24/2017
- Deal: Daymond John at $500,000 for 15% equity plus 2.5% advisory shares
What do the Shark Tank Investors say about The Elephant Pants?
- Mark Cuban – says congratulations on what they have done, but the challenge for him is Facebook can take away their marketing strategy with one policy change. He is out.
- Daymond John – offers $500,000 for 20% equity. Daymond won't go in with them and they counter at $500,000 for 12%, but he counters at 17.5% Daymond says he will fund production. The countered again, asking Daymond to go 15%. They offer 2.5% advisory shares and Daymond says yes to the deal.
- Kevin O'Leary – offers two options, 1) $500,000 as a line of credit for a 5% stake, or $500,000 for a 20% stake. Kevin offers to join Lori's deal and will allow himself to be photographed in elephant pants for a $500,000 line of credit for 10%. They counter asking for the three sharks in for straight equity for $500,000 for 15% equity. Lori and Kevin go out.
- Lori Greiner – hates cruelty to animals and she would go in with another Shark if they would have her.
- Robert Herjavec – has to at least like the product that he invests in and it is incredible with what they have done, but he is out.
The Elephant Pants after Shark Tank
Daymond John closes the deal with Elephant Pants and the Entrepreneurs are excited to be working with his team. They have introduced new products into the lineup from the company.