Patrick Robinson went into the Tank with a steep valuation of $20 million, requesting $500,000 for 2.5% of Paskho. Emma Grede instantly recognized him as a prominent name in fashion and Robinson proudly shared that his 2019 sales were a whopping $6.7 million, but despite this, the company wasn't profitable due to the $95 customer acquisition cost. In 2021, Paskho would estimatedly have $4.5 million in sales. However, the brand still incurred multi-million dollar losses due to scaling costs and a drop in sales during COVID.
Grede couldn't understand why Paskho didn't thrive during the pandemic because his line featured so much chic loungewear but Robinson attributed this to the pivot in his business model when their core changed to better employment opportunities. Grede suggested that maybe Paskho hadn't excelled as much because Robinson either didn't know how to communicate the brand message or the customers didn't care enough about it. Mark Cuban added that if the social media messaging was right, the customer acquisition cost wouldn't be as high, so he was out.
Grede couldn't join Paskho for similar reasons, but she advised Robinson to pay close attention to the customer's demands because she felt he'd ignored them. Kevin O'Leary expressed his lack of confidence in Robinson's entrepreneurial abilities, arguing that the business model wasn't strong enough to gain his investment. Barbara Corcoran also didn't make an offer because of the lack of business clarity. Before "Shark Tank," Lori Greiner hadn't built a clothing brand, so she couldn't help Paskho either.
