Red Dress Boutique Explained

Red Dress Boutique
Industry:Retail
Predecessors:-->
Successors:-->
Founded:2005
Founder:Diana Harbour
Hq Location:Athens, Georgia
Areas Served:-->
Products:Women's clothing
Revenue:US $14 million (2014)[1]
Profit:-->
Profit Year:-->
Owners:-->

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]

History

Red Dress Boutique was founded by Diana Harbour 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 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.[8]

External links

Notes and References

  1. Web site: Red Dress founder named a 2015 Enterprising Woman of the Year. Athens Banner-Herald.
  2. Web site: Red Dress Boutique. October 17, 2014. Shark Tank Products.
  3. News: Adams. Tony. Columbus natives secure major investment from 'Shark Tank'. 27 January 2018. Ledger-Enquirer. 18 October 2014.
  4. News: Wahn. Megan. 21 June 2017. Rags to riches: Red Dress Boutique owner Diana Harbour grew her business from the ground up. Red and Black. 27 January 2018.
  5. News: Dishman. Lydia. "Social Media Doesn't Sleep": How This Local Shop Cranked Sales From $63K To $7 Million. 27 January 2018. Fast Company. 7 March 2014.
  6. News: Butschek. Hilary. Red Dress Boutique turns 10, expands to offer home decor. 27 January 2018. Online Athens. 20 September 2015.
  7. News: Feloni. Richard. The 15 Biggest 'Shark Tank' Success Stories of All Time. 27 January 2018. Business Insider. 15 December 2015.
  8. Web site: 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…". https://ghostarchive.org/iarchive/instagram/shopreddress/1959036164448915151 . 2021-12-25 . registration. Instagram. en. 2019-01-19.