What Happened to Elephant Pants After the Shark Tank Pitch?
What is Elephant Pants?
Elephant Pants are a popular style of clothing in Northern Thailand, worn by both tourists and locals.
It’s a roomy, comfortable pair of trousers with an elephant print. Hippie Pants and Harem Pants are other names for Elephant Pants.
Who Founded Elephant Pants?
Elephant Pants was founded by James Brooks and Nathan Coleman.
In 2014, friends James Brooks and Nathan Coleman traveled to Thailand.
During their journey, Coleman visited the adjacent locally-made clothing stores, many of which were dedicated to honouring elephants via their designs.
The company concept arose after distributing several pairs of elephant-print trousers made in the tourist resort of Chiang Mai and receiving positive feedback.
They began their business with a short but successful Kickstarter campaign that raised $8,426.
The pants are $24.95, and they come in one size fits all. All of their designs may be found on Amazon and at dozens of yoga studios and small retail establishments around the country.
They started with six distinct styles of trousers and have now expanded to include fleece-lined pants, yoga pants, shorts, shirts, and other items.
Each purchase donates $1 to the African Wildlife Foundation’s Say No campaign, which promotes awareness about the sources of ivory in high-demand nations.
The program intends to diminish the demand for ivory via education. So far, they have given more than $127,000 to the campaign.
What Happened to Elephant Pants at the Shark Tank Pitch?
James and Nathan stepped in the shark tank with a large paper mache elephant, seeking $500,000 for a 10% stake in their company, suggesting a $5 million valuation.
The elephant is wearing pants, attempting to persuade the Sharks that this is their business. They reveal the genuine product as well as how they preserve elephants.
They distribute samples, and the Sharks’ Nathan asserts that their primary target market is females aged 18 to 24, while Kevin confesses that he has more than 40 pairs of matching pants.
They’re terrible, according to Daymond, but when Nathan reveals they’ve generated $7 million in sales in two years, the Sharks are all pleased.
When Mark asks about client acquisition, the men say they run a lot of targeted Facebook advertising.
Last month, they spent $75,000 on Facebook to earn $434,000 in revenue. The entrepreneurs explain that the $500,000 is required for further promotion in answer to Daymond.
Robert applauds them, but he is the first Shark to depart because he declined to use the product.
Mark is also dissatisfied with how heavily they rely on Facebook marketing.
Kevin provides two options: a $500,000 line of credit for 5% ownership or a $500,000 line of credit for 20% ownership.
Lori wants to team up with another Shark, so Kevin gives her $500,000 in exchange for a line of credit with 10% equity.
Daymond states that he doesn’t need Kevin or Lori. He offers $500,000 in exchange for 17.5%. The lads respond with 12%, but Daymond remains unaffected.
Lori and Kevin leave as Daymond negotiates. They eventually settled on a $500,000 deal for 15% plus 2.5 percent advisory shares.
What Happened to Elephant Pants After the Shark Tank Pitch?
Elephant Pants made a lot of money and donated $30,000 to aid in the rescue of elephants for a short period.
As of February 2019, the company website was defunct.
The most recent Facebook post was made in December of last year. Their products are also no longer available on Amazon.
The contract with Daymond did not appear to be completed.
TheElephantPants.com went out of business at the end of 2018, according to an email from Joe at Harem Pants in July 2021.
They sold their business to a Chinese vendor.
They believe they preserved TheElephantPants.com but redirected it to TheElephantPantz.com, controlled by the current owner.
What is the Net Worth of Elephant Pants?
James and Nathan entered Shark Tank and asked for $500,000 for a 10% stake in their firm, implying a $5 million valuation.
Daymond John offered $500,000 to Nathan Coleman and James Brook for 15% plus 2.5 percent in advisory shares. This brings the company’s valuation to be $3.3 million.
Who are the Competitors of Elephant Pants?
Kids The Elephant Pants’ main competitor is Harem Pants.
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Elephant Pants FAQS
What exactly are Elephant Pants?
Elephant Pants, also known as Shalwars in Persian/Turkish, are popular clothing worn by both tourists and locals in Northern Thailand.
It’s a roomy, comfortable pair of trousers with an elephant print. Hippie Pants and Harem Pants are other names for Elephant Pants.
Who founded Elephant Pants?
Nathan Coleman and James Brooks, two college friends, and Brooklyn, New York natives, launched Elephant Pants in 2014 after discovering the product on a trip to Thailand in 2013.
Elephant pants are made of what material?
Marble Elephant Pants are made of exceptionally soft and lightweight Thai rayon fabric.
These high-cut gender-neutral Elephant Pants have a smocked waist and one side pocket. Most individuals wear one-size-fits-all clothing.
Is it true that elephant pants got a deal on Shark Tank?
Nathan Coleman and James Brook accepted a $500,000 offer from Daymond John for 15% plus 2.5 percent in advisory shares on Shark Tank Season 8 Episode 18.
Are elephant pants gender neutral?
Both men’s and women’s cuts and styles are available.
How much is the elephant pants worth?
James and Nathan stepped in and demanded $500,000 for a 10% stake in their company. This suggests that they were aiming for a $5 million valuation.
When was the Elephant pants company launched?
In 2014, The Elephant Pants Company was established.
Who owns elephant pants?
Nathan Coleman and James Brooks are the owners of Elephant Pants.
What are the biggest rivalries of elephant pants?
Kids Harem Pants are Elephant Pants’ main competitors.
How much do Elephant Pants cost?
The pants are $24.95, one-size-fits-all.
Who is Elephant Pants targeting?
According to Nathan, their primary target market is females aged 18 to 24.
What are the Elephant Pants made out of?
Thai rayon fabric of the highest quality.
When did the elephant pants business end?
The Elephant Pants company went out of business at the end of 2018, according to an email from Joe at Harem Pants in July 2021.
They sold their business to an unidentified Chinese supplier. They believe they preserved TheElephantPants.com but redirected it to The Elephant Pants, which is within the current owner’s ownership.
Is Elephant Pants profitable?
Since 2017, they have made nearly $7 million in sales.
What happened to elephant pants after the Shark Tank?
Elephant Pants made a lot of money and donated $30,000 to aid in the rescue of elephants for a short period.
As of February 2019, the company website was defunct.
The most recent Facebook post was made in December of last year. Their products are no longer available on Amazon.
