Here's What Went Down With Red Dress Boutique After Shark Tank
Back in the 2000s, Diana Harbour was working in smaller fashion boutiques in Georgia and fell in love with the idea of shopping smaller for quality pieces. "I loved the artistry of it. It had nothing to do with fashion, it was the artistry of the fabrication and designing the prints," Diane told The Red & Black in 2017. "I fell in love with the environment. It was such a close atmosphere in comparison to a department store. I was right up under the owner and got first-hand knowledge of what they did," she added. That then turned into an idea: Opening her own boutique.
Diana teamed up with her husband, Josh Harbour, to create Red Dress Boutique in 2005. Diane and Josh took out a six-figure loan to get the business off the ground, and ended up living with friends and family because they put so much of their money into their dream. "We slept on an air mattress in four different friends' apartments for a whole year! We literally lived out of a suitcase," Diana wrote on RedDress.com.
But Red Dress Boutique's niche of selling quality clothing for smaller prices worked. The brick-and-mortar boutique saw plenty of footfall and the company gained a lot of interest in its website. But the couple knew they needed to take their company to the next level, and they needed the help of a "Shark Tank" entrepreneur to do that.
Red Dress Boutique got double the money asked for
In October 2014, Diana Harbour and Josh Harbour appeared on Season 6 of "Shark Tank," pitching their business as an online boutique that allowed fashion lovers to get quality pieces for a good price. The two appeared in front of Mark Cuban, Daymond John, Kevin O'Leary, Lori Greiner, and Robert Herjavec, looking for $600,000 for 5% of the company. The two got off to a strong start when Josh told the Sharks they'd grossed $8 million in sales the year prior, with Diana adding that they could see $12 million to $15 million in sales that year. The Sharks were then further impressed when the couple shared that they could make $2 million in profits.
But the numbers weren't quite enough to get an offer from every Shark. O'Leary thought the business was successful because of Diana, and shared his concerns about how he'd be able to get more from her. He dropped out. Greiner also turned down the investment opportunity, sharing she just didn't think she was the right entrepreneur. John also didn't feel his skills would be useful, so he was also out. But it wasn't all bad news for the Harbours. After Josh explained they wanted money to improve their website, Herjavec offered the whole amount for 15% of the company. After the couple declined, Cuban made an offer to go in with Herjavec — which the Harbours' accepted. The deal? $1.2 million for 20% of the company.
Red Dress Boutique couldn't keep up with demand after Shark Tank
After appearing on "Shark Tank," Red Dress Boutique saw serious success — but without Robert Herjavec onboard. Diana Harbour shared that Mark Cuban ended up investing in the company alone, giving $600,000 for 15% of the company. But not having Herjavec onboard clearly didn't slow the business down. Diana told Athens Banner-Herald that the company's website received a whopping 9 million visitors the day after their episode aired, and Josh noted that they'd managed to hire a further 30 staff members in just six weeks. According to Business Insider, all that attention turned into serious cash, as the business made $1 million in sales the week after the TV appearance.
And it sounds like Cuban played a big part in helping the duo build their business further post-investment. Even if they didn't always see eye to eye. "We butt heads on some things. But that is normal with any company that takes on investors," Diana shared of what it was like working with the "Shark Tank" star. "He is always very magnanimous. He says, 'It is your company. It is your final decision.'" But it sounds like Cuban knew his place when it came to sharing his opinion. "He goes, 'That's not my forte.' He does not get involved in the fashion side at all," Diana admitted.
Red Dress continued on without Mark Cuban
In December 2023, Red Dress Boutique is still trading and thriving. Now known simply as Red Dress, the brand's website offers a mind-boggling number of products, from clothing to jewelry to shoes. The company has also built up quite a client base via social media. The business boasts almost 750,000 followers on Instagram, over 15,300 on TikTok, and a further 1.3 million followers on Facebook.
But it seems like Red Dress's success these days is without Mark Cuban. Diana Harbour revealed on Facebook in 2019 that she'd actually bought out Cuban and owned 100% of the company again. "As of THIS MOMENT I own all of my company again! My present to myself for 2019 was to buy back my shares from [Mark Cuban] and it was final today!" she captioned a selfie. But it sounds like there was no bad blood with Cuban that led to him giving back his shares. "It's been an awesome four years as a part of [Mark Cuban Companies] and having him as a partner but I was ready to own it all back," she shared. Diana also made sure to thank "Shark Tank" for helping Red Dress grow — and had a sweet message for Cuban, too. "Thank you [Mark Cuban] for your guidance over the past 4 years. And I am now ready to take on the world. Here's to new beginnings and owning all of [Red Dress] again."
Red Dress is still growing in 2023
It seems like Red Dress won't be slowing down after all these years in business. Insider Growth estimated the company is worth a seriously impressive $20 million as of 2023, and it seems Diana Harbour is still very much intent on keeping the company alive. The company is continuing to use social media to boost its profile, sharing new posts daily to stay in contact with its customers and keep them up to date with new products. And Red Dress is serious about its online presence. According to Performance Marketing World, the company spends six figures on yearly paid search and social promotion.
And it seems like Red Dress isn't done growing just yet. The company confirmed via its LinkedIn page in August 2023 that it was looking to expand its social media team even further. The business advertised new content creator roles, looking for people to work in-house with the business in Georgia.