Paskho exits 'Shark Tank' without deal, Emma Grede slammed for comparison with SKIMS
With an increasing demand for clothing and accessories, fast fashion is now the norm. Big retail brands are churning out clothing lines, often made for minimum cost and of minimum quality. The harsh reality here is that fast fashion is gravely affecting our lives -- from exploited labor to ending up in landfills, the entire industry enables multiple human rights issues and the global warming crisis.
Enter Paskho, a sustainable brand that is mindful of its practices. Paskho takes pride in creating quality clothing built to last and employing members of underserved communities to give back. The brand has even caught the eye of celebrities like Oprah Winfrey, who featured the brand on her 'Oprah's Favorite Things 2020' list. However, the question now is, will owner Patrick Robinson catch a deal with Mark Cuban, Lori Greiner, Barbara Corcoran, Kevin O'Leary or guest shark Emma Grede? Read more to find out!
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Robinson explained that his brand Paskho focused on providing dignified jobs to communities that need them the most. His focus was to bring jobs back to the USA. Having made $6.7 million in sales pre-Covid, he was looking for an investment of $500,000 for 2.5% stake in the company. His story impressed the sharks and Grede also pointed out that Robinson came with extensive experience, having worked with brands like Giorgio Armani, Anne Klein, Perry Ellis, Paco Rabanne, and Gap. But when it came down to brass tacks is when Robinson's pitch wavered.
He explained that they hadn't been profitable yet and that revenue dropped during Covid-19, which stumped Grede. According to her, retail business soared during this time. For him to have struggled to sell premium loungewear such as this meant there was an issue somewhere, seeing that SKIMS kept selling out during this period. She pointed out that he needs to find a way to market his product better and use social media to suit his purpose. O'Leary was the first to tap out, saying that he only invests in businesses with profit to show for. Corcoran, who appreciated his work, also backed out due to a lack of clarity. Grede explained that Robinson needs to start listening to his customers, and thus she backed out as well.
Greiner took a cue from Grede and declined to make an offer. Cuban echoed the same sentiment, saying that Robinson didn't know how to sell his product or brand. While Pashko walked away with no deal, fans felt it was hypocritical to bring up the marketing of SKIMS and Good American in comparison, seeing that both had the Kardashian brand name associated with it, thereby the product sold itself.
"Good American did well from the jump because of the Kardashian name on it. She can't compare his company to that company. #SharkTank" stated a fan. "Emma must be forgetting she had the Kardashian Name & Social Media platform already built in. Established -millions of customers #SharkTank" added another. "How much of that first day success had to do with Chloe vs the story of inclusion? I'm guessing the former. #SharkTank" agreed a fan. "Emma G is forgetting her brand success is intricately tied to the K factor -success. If we could go back in time I'd wager a large sum bet if she stood on her name only her business wouldn't even have 1/8 of the success it has Now. #SharkTank" stated a fan.
Good American did well from the jump because of the Kardashian name on it. She can't compare his company to that company. #SharkTank— Jaimie Serowsky (@JuicyJaimie) October 9, 2021
Emma must be forgetting she had the Kardashian Name & Social Media platform already built in.— Lola Always (@CoolGirlFusion) October 9, 2021
Established -millions of customers #SharkTank
How much of that first day success had to do with Chloe vs the story of inclusion? I’m guessing the former. #SharkTank— Emoco (@emoco) October 9, 2021
Emma G is forgetting her brand success is intricately tied to the K factor -success. If we could go back in time I’d wager a large sum bet if she stood on her name only her business wouldn’t even have 1/8 of the success it has Now. #SharkTank— Stella (@stella_zappa) October 9, 2021
I think Emma Grede is amazing, but to not namecheck the Kardashians as being a MAJOR factor in the success of GA and Skimms is 👀 #SharkTank— Courtney Forrest (@courtyforrest) October 9, 2021
Do you think Paskho got the short end of the stick? Sound off below!
'Shark Tank' Season 13 returns to ABC on October 8, 2021, at 8 pm ET. Catch the latest episode on Fridays, from 8 pm ET to 9 pm ET. Missed an episode? Been wanting to catch up? Episodes can also be viewed the next day on demand and on Hulu. Not just that, you can also watch old seasons and episodes on Amazon Prime Video and iTunes.