Pashion Footwear has a net worth of $15 Million USD. Pashion Footwear appeared in Season 12 of Shark Tank. The company offers high heels, that can be instantly converted into flats. Pashion Footwear was founded by Haley Pavone.
Haley approached Shark Tank seeking $500k for 5% equity in the company. However, she walked out empty-handed without any deal struck on the show.
Pashion Footwear Net Worth
| Net Worth | $15 Million |
| Annual Sales Revenue | $4.3 Million |
| Profits | $790,000 |
| Heels Sold | 25,000 units |
| Lifetime Sales | $19 Million |
| Employees | 12 |
| Founder’s Share | 45% |
Sales Revenues
When Pashion Footwear appeared on Shark Tank, the company was generating $500k in net sales. After the episode aired, the company got a huge sales boost. During the one year after Shark Tank, the revenues stood at $2 Million.
Since then, the sales have seen a 400% growth each year. As of today, the company generates $350k in monthly revenues. At this pace, the company is set to become one of the biggest misses for Sharks after products such as Swimply.
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Shark Tank Pitch
During the pitch, the company’s founder mentioned that they have raised over $2.4 Million to date and are left with less than $250k in cash reserves. They also had an inventory worth $130k.
Hearing this, Barbara is the first Shark to drop out. She even comments that ‘You are the kind of person who doesn’t know what you don’t know’ referring to its founder.
Meanwhile, Kevin offers to invest $500k, but he wants a $5 royalty on every heel sold, till he recoups $1 Million.
After Mark Cuban drops out of the deal by telling a boring reason, Kendra Scott says that she didn’t feel comfortable wearing the heel and therefore wants to drop out.
Lori feels $500k is too little for her and that she is not interested. Finally, Haley rejects Kevin’s offer too, and exits the Shark Tank without any deal in hand.
FAQs
With over $4 Million in revenues, Pashion Footwear has become a huge success since it first appeared on Shark Tank.
Pashion Footwear was founded by Haley Pavone.
Pashion Footwear appeared on Season 12 Episode 14 of Shark Tank.
Yes. Passion Footwear sells over 20,000 units of heels each year.