Imagine clothing so comfortable it feels like clouds against your skin. That’s the promise of Paire, the brainchild of Nathan Yun and Rex Zhang. Hailing from Melbourne, this innovative duo has set out to redefine sustainable fashion.
Their line of functional, timeless essentials focuses on comfort and sustainability.
“Our goal was to design products with comfort, functionality, and sustainability at the core.”
Yun
“We aimed to challenge the norms and create a brand that could stand for responsible consumerism without compromising on comfort or style.” Ready to discover the future of fashion? Dive into Paire’s story today.
Paire Journey Before Shark Tank
Paire was born in 2020 when long-time friends Nathan Yun and Rex Zhang envisioned apparel that combined comfort, functionality, and sustainability.
Starting in a garage, the pair meticulously crafted their initial offering: Supreme CoolBlend socks. This blend of merino wool and eucalyptus fibers quickly became known for its softness and odor resistance.
“We launched Paire to make quality essentials people could feel good about, inside and out,” explained Yun.
Their journey quickly expanded to include versatile apparel like the viral “Lipstick Underwear.” This unique product folds to the size of a lipstick for portability.
Activewear made from recycled materials further broadened their reach. By 2024, Paire’s revenue had grown from $1 million in 2021 to $10 million.
“It kind of just happened along the way,” Zhang shared.
“When you’re designing something so comfortable, it becomes a very versatile product that you can wear any time of the day, anywhere in the world.”
Zhang
Collaborations with brands like Seager Inc. brought their products to Singapore and Malaysia. These partnerships helped solidify their global presence.
“During the conversation with them, we found out Singapore and Malaysia have many travelers. They need a lot of travel essentials,” Zhang explained.
Shark Tank Pitch Recap
Nathan and Rex entered Shark Tank Australia seeking $500,000 for 2.5% equity, valuing Paire at $20 million. The duo impressed the sharks with their proprietary fabric blends and staggering sales figures.
They reported $6 million last year and projected $20 million this year. “Imagine a world where clothes are so comfortable you feel like you’re wrapped in clouds, all the time,” they began their pitch.
Their product demonstration included Rex showcasing odor-proof socks, which left shark Maxine impressed after a sniff test. “Couldn’t smell a thing,” she said.
The unique materials were described as a proprietary blend of merino wool and tree fibers, developed with over 40 years of textile expertise.
Although no final deal was struck, the sharks were captivated by Paire’s potential. “It’s the most successful company that’s ever been on Shark Tank,” exclaimed Rob.
Nathan and Rex showcased negotiation resilience. They countered offers like $500,000 for 10% equity with a final bid of $500,000 for 4% equity.
Paire Shark Tank Update
The Shark Tank exposure catalyzed Paire’s growth. It drove an influx of online traffic and a surge in sales. The brand doubled its customer base to 200,000 and expanded its product line.
Partnerships with retailers like Seager Inc. boosted their international recognition. “They already put down a second order,” Zhang noted, highlighting their popularity in overseas markets.
At home, the flagship store in QV Melbourne became a hub for customers eager to experience Paire’s sustainable and comfortable offerings firsthand.
The company’s commitment to innovation and customer retention proved instrumental. “Seventy percent of customers return after their first purchase,” the founders shared.
Future Plans
Paire is gearing up to expand its global footprint, with plans to enter the UK and US markets. The goal is ambitious: to double revenue year-on-year.
“Based on the popularity of our Lipstick Underwear,” Yun shared, “and the growing demand for versatile, quality essentials, we’re working on several new product launches. They will continue to emphasize comfort and sustainability.”
Additional plans include launching a dedicated “Travel Series” and expanding wholesale partnerships. They’re also focused on creating long-lasting designs.
This ensures every product aligns with their sustainability ethos. “Sustainability and durability guide every decision we make in product development,” Yun emphasized.
Closing Remarks
From a garage startup to a $20 million brand, Paire’s journey exemplifies innovation, resilience, and a commitment to sustainable fashion.
With their sights set on global markets and continuous product evolution, Nathan Yun and Rex Zhang are redefining how we experience comfort and sustainability in fashion.
“Ultimately, we aim to create a full range of sustainable basics that offer a better alternative to fast fashion,” Zhang concluded.
“We want to empower consumers to make choices that feel good and do good.” What’s next for Paire? Stay tuned to see this brand soar even higher.