Red Dress Boutique

Red Dress Boutique is a women's clothing store located in Athens, Georgia which also sells retail online. It appeared on Season 6 of Shark Tank where it appeared to received a $1.2 million investment.

Red Dress Boutique
IndustryRetail
Founded2005
FounderDiana Harbour
HeadquartersAthens, Georgia
ProductsWomen's clothing
RevenueUS $14 million (2014)[1]
Websitewww.reddressboutique.com

History

Red Dress Boutique was founded by Diana Harbour in 2005.[2] During her college years at Columbus State University, she grew to love small fashion boutiques while working at three small clothing shops.[3] She opened her first boutique in downtown Athens, Georgia because of the area's thriving local business scene and lack of chain stores.[3] A second Red Dress Boutique location followed but later closed alongside the company's eBay business.[4] An eCommerce site launched in 2012.[3] In 2014, the company made $15 million in online sales.[5]

The company appeared on Season 6 of Shark Tank where Mark Cuban and Robert Herjavec split a $1.2 million investment in exchange for 20% equity in the company.[6] After the cameras stop rolling and true negotiations began, Robert Herjavec decided not to invest. Mark Cuban did invest $600,000 for 15% of the company.

Diana Harbour bought back her equity from Mark Cuban on January 17, 2019. The news was made public on their Instagram feed. It was not disclosed what the purchase amount was for the buyback. [7]


References
  1. https://www.onlineathens.com/business/2015-01-24/red-dress-founder-named-2015-enterprising-woman-year
  2. Adams, Tony (18 October 2014). "Columbus natives secure major investment from 'Shark Tank'". Ledger-Enquirer. Retrieved 27 January 2018.
  3. Wahn, Megan (21 June 2017). "Rags to riches: Red Dress Boutique owner Diana Harbour grew her business from the ground up". Red and Black. Retrieved 27 January 2018.
  4. Dishman, Lydia (7 March 2014). ""Social Media Doesn't Sleep": How This Local Shop Cranked Sales From $63K To $7 Million". Fast Company. Retrieved 27 January 2018.
  5. Butschek, Hilary (20 September 2015). "Red Dress Boutique turns 10, expands to offer home decor". Online Athens. Retrieved 27 January 2018.
  6. Feloni, Richard (15 December 2015). "The 15 Biggest 'Shark Tank' Success Stories of All Time". Business Insider. Retrieved 27 January 2018.
  7. "Red Dress on Instagram: "This is the face of a happy girl. Why? Because as of THIS MOMENT I own all of my company again! My present to myself for 2019 was to buy…"". Instagram. Retrieved 2019-01-19.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.