What Happened to Nearly Newlywed After the Shark Tank Pitch?
What is Nearly Newlywed?
Nearly Newlywed is an online retailer that sells low-cost designer bridal gowns.
Brides are sometimes put off by the cost of a gown or want for a grander gown for their money.
Brides may use Nearly Newlywed’s service to receive the dress of their dreams at a fraction of the retail price rather than purchasing a new dress that they will only wear once.
The business strategy’s brilliance is that Nearly Newlywed does not buy the garments.
A bride goes to the website and submits a description of her gown as well as photos of it.
When the outfit is accepted, it is placed on consignment.
Nearly Newlyweds keeps a share of the proceeds, and the new bride can keep the gown or resell it through Nearly Newlyweds.
Unlike a standard rental business, the Nearly Newlywed model allows for greater personalization.
Who is the Founder of Nearly Newlywed?
Nearly Newlywed was created by Jackie Courtney. Jackie was up in Iowa and has a passion for fashion.
She followed her dream by relocating to New York City and working as a fashion publicist.
She was also in charge of “dressing” various celebrities and fashion journalists. She was introduced to the world of fashion as a result of this encounter.
Jackie married, and she was well aware that the wedding outfits she sought would be too expensive.
She also got the idea that other brides-to-be felt the same way. Jackie Courtney understands how difficult it can be to find the right fit at the right price.
Furthermore, getting the right attire usually takes a significant amount of effort and travel. Jackie wanted to find a solution to the brides-to-anxieties. be’s As a result, she started the blog Nearly Newlywed.
What Happened to Nearly Newlywed at the Shark Tank Pitch?
Courtney made an appearance on Shark Tank season 4 episode 3 in exchange for a $35,000 investment and a 10% ownership in her company. This equates to a $350,000 valuation.
She walks onto the stage, flanked by a model wearing her own wedding gown, which is only one of the luxury dresses available through the “online store.”
She observes that throughout her early years in New York City, celebrities and models seldom buy the designer clothes they wear on the red carpet. Clothing is frequently loaned for the event.
She started Nearly Newlywed to help brides on a limited budget buy stylish gowns.
Courtney describes her business idea and gives an overview of her website.
One of the dresses retails for roughly $11,000 but is available for $3,800 on the internet. Another important aspect of Nearly Newlywed is that brides may sell their dresses back to the company for half of what they spent for them.
Kevin O’Leary is interested in the amount of money invested in the company. Because Nearly Newlyweds works on a consignment basis, the company incurs few expenditures.
On each consignment, the company gets 35-40% of the transaction, which is a respectable profit margin.
Robert Herjavec, on the other hand, has reservations. “I suppose that a lady would only buy a used wedding gown if she is divorced.”
Courtney disagrees, arguing that if a bride wants a specific gown and can have it for a low price, she is more likely to accept the offer.
The Sharks want to learn more about sales. Courtney barely sold four outfits in her first month of operation.
The Sharks then ask about her growth strategy. Courtney mentions that she has received some good attention as a consequence of her company’s launch, and that word of mouth is helping her via social media.
Mark Cuban remains skeptical. “As a result of the initial increase in press roll, you produced such traffic. That is really difficult to sustain.” Courtney gives a list of additional options for journalistic exposure.
Jackie has great experience in public relations, according to Barbara Corcoran, but you are not proven just because you have been with the firm for three months.
She has no plans to return her money because it is still too early for her. She has left.
It defies sense, according to Robert, for any bride to obtain a used gown. He doesn’t understand the business’s idea. He’s already gone.
Daymond According to John, Nearly Newlyweds does not fit his model. He’s gotten away.
Kevin O’Leary admires Courtney and the model. He gives a suggestion. He will pay her the $35,000 she demands in exchange for 40% ownership of the company.
Courtney inquires about other proposals, but none are forthcoming.
Courtney is too obsessed with a certain fashion trend, according to Mark Cuban. He’s already gone.
Courtney thinks about it but declines O’Leary’s offer. The percentage is really high. She leaves the Shark Tank without a contract.
What Happened to Nearly Newlywed After the Shark Tank Pitch?
Jackie was clearly disappointed that none of the Sharks indicated interest in investing in her.
Courtney has found a partner at Kleinfeld’s Bridal, an upscale wedding supply firm in New York.
Despite the fact that Courtney did not chose to partner with a Shark, she is prospering on her own, indicating that Nearly Newlywed is a success story.
Courtney married and had a son in August 2021. The company’s annual revenue is $5 million.
What is the Net Worth of Nearly Newlywed?
Nearly Newlywed’s net worth is estimated to be $800,000.
Who are the Competitors of Nearly Newlywed?
Chic Couture Online and Chan Luu are two Nearly Newlywed Competitors.
What Happened to Addison’s Wonderland After Shark Tank?
What Happened to BeeSweet Lemonade After Shark Tank?
Nearly Newlywed FAQS
What is Nearly Newlywed?
Nearly Newlywed is an online bridal store that sells pre-owned wedding gowns.
Who came up with the idea for Nearly Newlywed?
The idea was created by Jackie Courtney.
How does the nearly newlywed business work?
A client posts information about a used gown on Nearly Newlywed’s website, which includes pictures and a description of the item.
Where is the Nearly Newlywed headquarters?
Nearly Newlywed is located in Brooklyn, New York.
How Jackie Courtney did came up with the idea?
Nearly Newlywed was created in 2017 by Jackie Courtney. One of Courtney’s friends was getting married and needed a gown, but she could not afford one.
Courtney began brainstorming ways to help her friend and quickly came up with the idea for Nearly Newlywed.
How much was Jackie Courtney seeking in the Tank?
Jackie Courtney was hoping to secure $35,000 in exchange for 20% of the company.
How much money is Nearly Newlywed making per year?
Nearly Newlywed’s annual revenue is $5 million.
Did Nearly Newlywed get a deal from the Shark Tank?
No, none of the Sharks were willing to invest in Nearly Newlywed.
Is Nearly Newlywed still in business?
Yes, Nearly Newlywed is still in business as of August 2021.
What is the website of Nearly Newlywed?
The website of Nearly Newlywed is nearlynewlywed.com
What is their return policy?
They provide a risk-free five-day return guarantee for all products, including new and second-hand bridal gowns sent inside the continental United States.
What is their return policy for international buyers?
Purchases made outside the United States are final sale.
