Red Dress Boutique

Last updated
Red Dress Boutique
Industry Retail
Founded2005
FounderDiana Best
Headquarters Athens, Georgia
Products Women's clothing
RevenueUS $14 million (2014) [1]
Website www.reddressboutique.com

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 was offered a $1.2 million investment. [2]

Contents

History

Red Dress Boutique was founded by Diana Best (Last name Harbour at the time) in 2005. [3] During her college years at Columbus State University, she grew to love small fashion boutiques while working at three small clothing shops. [4] She opened her first boutique on Baxter street in Athens, Georgia because of the area's thriving local business scene and lack of chain stores. [4] A second Red Dress Boutique location followed but later closed. [5] An eCommerce site launched on December 6, 2009. [4] In 2014, the company made $15 million in online sales. [6]

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. [7]

Diana Best 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. [8]

References

  1. ↑ "Red Dress founder named a 2015 Enterprising Woman of the Year". Athens Banner-Herald. Archived from the original on 2021-09-13. Retrieved 2021-09-13.
  2. ↑ "Red Dress Boutique". Shark Tank Products. October 17, 2014.
  3. ↑ Adams, Tony (18 October 2014). "Columbus natives secure major investment from 'Shark Tank'". Ledger-Enquirer. Retrieved 27 January 2018.
  4. 1 2 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.
  5. ↑ 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.
  6. ↑ Butschek, Hilary (20 September 2015). "Red Dress Boutique turns 10, expands to offer home decor". Online Athens. Retrieved 27 January 2018.
  7. ↑ Feloni, Richard (15 December 2015). "The 15 Biggest 'Shark Tank' Success Stories of All Time". Business Insider. Retrieved 27 January 2018.
  8. ↑ "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. Archived from the original on 2021-12-25. Retrieved 2019-01-19.


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