Despite Robinson’s illustrious career and outstanding social messaging. none of the investors on Shark Tank chose to invest in Pashko during the episode (which aired in October 2021). Despite this, Robinson’s dedication to not only environmental sustainability but also social equality impressed the Sharks. It’s worth noting that Paskho’s creation in 2015 was due to a successful Kickstarter that didn’t have nearly the focus on social equality that it does now. However, the death of George Floyd in May 2020 spurned Robinson’s expanded vision for the brand.
In order to continue expanding his production location and abilities, he asked the Sharks for a $500,000 investment in exchange for a 2.5% stake in his company. While most of the Sharks emphasized their lack of expertise in the apparel and fashion markets, the high cost of production was ultimately seen as a negative. Even though Robinson told the Sharks that the company’s 2019 sales came to $6.7 million, the problem came down to a lack of overall profitability due to both supply chain issues and a very high customer acquisition cost ($95 per a single pair of pants, to be exact).
The Sharks argued that Robinson had a marketing problem, with an inability to reach customers through his brand. This lack of greater customer acquisition, combined with the fact the company wasn’t yet profitable, led each of the Sharks to decline Robinson’s pitch and Robinson left the show with no investment deals.
