Partie Poche Shark Tank Update – Partie Poche Net Worth 2024

Connor and Jillian Jacquard were two college students from Loyola Marymount University. The founders saw a common problem among young women. They had to carry bulky purses on a night out. To solve this, they created Partie Posh.

It was a fashion accessory that securely held essentials around the leg. This allowed women to enjoy their night without the hassle of a handbag. They believed in their product’s potential to change nightlife fashion. 

Both entered the Shark Tank seeking $100,000 in exchange for a 20% equity stake in their company. Would the Sharks see the value in their innovative idea? Find out in our Party Posh Shark Tank Update!

Partie Poche Net Worth 2024

Connor and Jillian Jacquard asked for a $100k investment in exchange for 20% equity in their company. This meant they valued their company at $500,000. However, they didn’t secure a deal with any of the Sharks, and the business struggled after the show. With no significant sales growth and the eventual closure of Partie Poche, the current net worth of the company in 2024 is $0.

Partie Poche Shark Tank Update

After their Shark Tank appearance, Partie Poche faced significant problems. Their website crashed, which impacted their sales and their ability to get the product in the market. They promised to have the site fully functional by the time the episode re-aired in December 2012. But, that never happened. Before the show even aired, they had already sold the business to a company called Audacis. They couldn’t secure funding from the Sharks which was the reason they sold it.

Partie Poche didn’t secure a deal on Shark Tank. Kevin O’Leary was the first Shark to decline investing in the company. He found the company’s valuation unreasonable and couldn’t justify the investment without solid sales. Daymond John believed that the product lacked significant value and saw the high valuation as unrealistic.  For those reasons, he didn’t invest. Robert Herjavec didn’t think the company had enough sales or orders to prove its worth. Therefore, he decided not to invest. 

Barbara Corcoran felt that the product didn’t stand out enough in the market to justify the risk. For those reasons, she didn’t invest in Partie Poche. Mark Cuban was intrigued by the business. He gave them more time to explain their business model without rejecting them outright. The founders explained it with great enthusiasm. Their answer wasn’t what Mark was expecting. He ultimately decided against investing because the business plan lacked clarity and direction.

Shark(s) Name	Offer and Demand	Counteroffer	Accepted?
Kevin O’Leary	Out	N/A	N/A
Mark Cuban	Out	N/A	N/A
Robert Herjevac	Out	N/A	N/A
Daymond John	Out	N/A	N/A
Lori Greiner	Out	N/A	N/A

Partie Poche Shark Tank Pitch

Jillian and Connor were both students at Loyola Marymount University. They created Partie Poche to solve a common problem they noticed. She observed that many of her sorority sisters tucked their phones, cards, and IDs into their bras before going out. They did this to avoid carrying bulky purses.

This inspired her and Connor to design Partie Poche. It was a stylish leg accessory that held essentials for women. It allowed them to dance and have fun without worrying about a handbag. Jillian’s finance and Connor’s MBA enabled them to launch a product they believed in.

Jillian and Connon presented their business to the Sharks with a confident pitch. They sought out $100,000 for a 20% stake in their business. The duo explained how they identified a common problem among women. Jillian drew from her personal experience living with her sorority sisters. They would often have to go out and carry the burden of a handbag and not enjoy their night outs. 

The duo highlighted the convenience and style of their product. They focused on the fact that it allowed women to dance and enjoy their night out without worrying about a purse. Jillian demonstrated the product’s functionality and shared that they had sold 200 units online. She wanted to prove there was a demand for their product and innovation. They still faced tough criticism and questions from the Sharks. 

Barbara Corcoran wanted to know how the company had managed to sell its products. Mainly because the product and the company were brand new. Jillian explained that their product addressed a real problem women faced during nights out. This led customers to actively search for their website. They had already sold 200 units, with prices ranging between $17 and $39. However, Daymond John raised concerns about the product’s long-term potential and whether it was truly innovative.

The conversation then shifted to financials. Kevin O’Leary questioned the founders about their company’s valuation of $500,000. They had based this figure on projected sales of 100,000 to 200,000 units in the first year. Kevin and Daymond pointed out that this valuation was unrealistic for a company that hadn’t yet proven itself in the market. Kevin also asked about the product’s production costs and whether they had a patent. 

Connor mentioned that they had a provisional patent and had partnered with a manufacturer who quoted $4 per unit. But this information did little to reassure the Sharks. The conversation showed a big gap between the founders’ high expectations and the real challenges they faced. They needed to face the practical challenges of building a successful fashion accessory business to make their vision a reality.

Kevin O’Leary didn’t like how Party Posh was valued. He thought the price was too high and wasn’t supported by enough sales. For those reasons, he didn’t invest. Barbara Corcoran agreed with Kevin. She didn’t think the founders understood the real challenges.

She didn’t invest for those reasons. Robert Herjavec was concerned about their lack of proven sales. He wasn’t confident they could sell a lot, so he chose not to invest. Daymond John also felt the business wasn’t worth what the founders said. He also decided to pass away the opportunity to invest in the company. 

Mark Cuban saw some potential but got frustrated when the founders couldn’t clearly explain how they would sell more products. Jillian kept insisting on their high valuation, even though they didn’t have enough sales to back it up. It made Mark doubt they were ready for another investment. In the end, Mark also decided not to invest. The founders left the tank without a deal from the Sharks.

What Went Wrong With Partie Poche on Shark Tank?

Kevin O’Leary didn’t invest because he found the $500,000 valuation unrealistic. It was because the company was new and had very little sales history. He believed the business wasn’t worth his time or investment. Daymond John also passed due to the lack of proof that the product could succeed.

He thought the market was crowded and the high valuation didn’t make sense for a startup. Barbara Corcoran felt the founders’ enthusiasm blinded them to reality. She believed they needed to test the product in the real world before seeking more investment.

Robert Herjavec was put off by the lack of sales or purchase orders. He thought they needed more experience and sales before asking for such a big investment. He echoed Barbara’s thoughts. Mark Cuban liked their passion but felt they didn’t have a clear plan to reach their sales goals. He believed they were uncertain about their business strategy, so he didn’t invest.

Product Availability

The company faced inventory issues after appearing on Shark Tank. They eventually sold the brand to another company called Audacis. Unfortunately, that also went out of business. The product itself is a knock-off of the original product. It can be bought from Etsy with very limited availability.

Conclusion

Jillian and Connor went on Shark Tank with confidence to get $100,000 for 20% of their company. They had a product that they believed would help women on nights out. Instead of carrying bulky handbags, women could use their stylish leg accessories to keep their essentials safe. They were excited and thought their idea could be a big hit. However, the Sharks didn’t agree. 

After the show, Partie Poche ran into big problems. Their website crashed, which hurt their sales. They ended up selling the company to another business called Audacis, but that didn’t work out either. Now, the product is only available in small amounts on Etsy. Jillian and Connor’s time on Shark Tank ended without a deal. Their story shows how important it is to have a clear plan and realistic goals when asking for investment.