Pashion Footwear Raises Over $1 Million After Shark Tank
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SAN LUIS OBISPO, Calif.--(BUSINESS WIRE)-- ABC's 'Shark Tank' featured a pitch from a female-founded fashion-tech business. Pashion Footwear, a by-women-for-women convertible high heel company, today announced its appearance on the hit reality show, which aired on February 19th, 2021.
During her pitch, Pashion Founder and CEO Haley Pavone began negotiations seeking a deal for $500,000 with one of the sharks: Kevin O'Leary, Mark Cuban, Lori Greiner, Barbara Corcoran, or their guest Shark Kendra Scott, founder of Kendra Scott Jewelry. Pavone was offered a deal from Kevin O'Leary that included a royalty clause, however after multiple rounds of negotiation she chose to do what she felt was best for the company - walk away from the deal and put every revenue dollar back into growing the business rather than paying out royalties.
Pashion was founded with the goal of empowering women by creating shoes that are actually suited for their lifestyles. For decades, women have been asked to choose - between style or comfort, a career or a relationship, a social life or motherhood, and so much more. Pashion believes in empowering women to choose everything. Do not sacrifice any aspect of what you want your life to be - you can have it all, do it all, and be it all. Pashion strives to create products that not only keep up with a modern lifestyle, but bring women one step closer to everything they want to get out of life.
Since filming, Pashion has not only successfully raised the $500,000 Pavone was hoping for, but has surpassed that amount and raised over $1M in the round in total - putting the company’s total amount raised to date at over $3.5 million. Pashion’s current fundraising round is still open.
Pashion is a small business with an 83% female team. The company’s unique convertible heel design is utility patent pending in 30 countries.
2021 will see seasonal product drops of new shoe silhouettes and heel kits options as well as a full customization platform from Pashion Footwear.
Pashion’s 'Shark Tank' episode S12 E14 is now available to stream on demand and on Hulu.
Source: Pashion Footwear
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