Partie Poche – Phone Holder
NO DEAL
EPISODE SUMMARY
🕓 Air Date: December 4, 2012
Asking For:
$100,000 for 20%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Partie Poche is a nightlife fashion accessory that replaces a handbag or clutch by carrying a woman's essentials around her leg, designed for comfort and convenience during nights out.
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Background Story
Partie Poche Group, founded by college students Connor Pastoor and Jillian Jaccard at Loyola Marymount University, was inspired by the inconvenience of carrying a bulky handbag while going out for nightlife activities. Jillian, majoring in accounting and finance, observed the common practice among women of stuffing their phones, cards, and IDs into their bras to avoid the hassle of a purse. This observation led to the development of Partie Poche, a novel fashion accessory that allows women to carry their essentials around their legs comfortably.
The duo saw a gap in the market and capitalized on it, leveraging their understanding of consumer behavior and fashion trends to create a solution that resonated with their target audience. Despite facing initial challenges, such as securing funding and refining their product, Connor and Jillian remained committed to their vision and successfully launched Partie Poche.
The Product
Partie Poche is a nightlife fashion accessory designed to replace traditional handbags or clutches. It features a sleek design that allows women to carry their essentials, such as phones, cards, and IDs, around their legs, providing convenience and freeing them to dance and have fun without the burden of a bulky purse.
The product is made with comfort in mind, ensuring that wearers can enjoy their night out without feeling weighed down. Partie Poche is available for purchase on their website, with prices ranging from $17 to $39 per unit. The company offers different color options and sizes to cater to various preferences.
How It Went
The company’s position before Shark Tank
Partie Poche has sold 200 units on their website, with prices ranging from $17 to $39 each. They had secured a provisional patent for their product. However, they faced challenges in valuing their company, as they were pre-revenue. They had recently partnered with a manufacturer who quoted $4 per unit for production. The company had $50,000 in the bank, contributed by investors who received a 40% stake in the company. They lacked firm purchase orders and struggled to justify their valuation.
The Negotiations:
The negotiation process on Shark Tank was challenging for Partie Poche Group, with the sharks expressing skepticism about the company’s valuation and business model. Despite their enthusiasm and belief in their product, Connor and Jillian failed to secure a deal, as the sharks raised concerns about their lack of sales traction and clarity in their strategic plan. Ultimately, the founders left the tank without a deal but remained determined to pursue their vision and prove their critics wrong.
