Next up is Hilary Novelle of The Style Club, seeking $500,000 for 20 percent equity.
The Style Club’s “mission is to create limited edition collections that say something and mean something just a little bit more than your average tee,” according to their website. Their love for vintage fashion, in addition to a flair for putting unique twists on clothing, encourages people to express yourself and be authentically you by never settling. It all started when Novelle began making her costumes and bedazzling them with jewels when she opened for Destiny’s Child and Christina Aguilera. “It quickly caught the eyes of the girls on tour and the head designers at Levis and I soon became the ‘Levis Girl,’” eventually growing multiple collections and the Style Club app. Some of their current collections include “Love Club,” “The Babe Collection” and “Babes Who Vote,” featuring vintage denim jackets, retro sweatshirts and silk neckties.
They are in Urban Outfitters, having been reached out to from the retailer based on their social following and social influencers like bloggers and celebrities. They have done $400,000 of sales so far, most of which has been done in retail in three to four months. However, their deal is exclusive to Urban Outfitters at the moment.
Kevin O’Leary finds it too risky and goes out. Barbara Corcoran thinks she came in with too high of an ask and goes out as well. Lori Greiner believes she doesn’t need an investment and thinks she should continue pursuing her Urban Outfitters’ direction. Robert Herjavec thinks it’s lacking proof and data and goes out next.
Daymond John likes the idea and offers $500,000 for 33.3 percent, while Mark Cuban offers $500,000 as a line of credit for eight percent interest, at 22 percent equity. She ultimately decides to accept Cuban’s offer.
Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging business to six multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group. Venture capitalist Chris Sacca is also slated to appear as a guest shark this season.
“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $87 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Friday at 9 p.m. on ABC.
Social Media Reacts to The Style Club’s Appearance on “Shark Tank”:
— Darren Day (@MyMindsEye66) November 5, 2016
— Heidi Norrod ® (@Heidi_Norrod) November 5, 2016
— Philly CyberSec Bestie (@PHLCyberBestie) November 5, 2016
Clearly I'm not a millennial. I don't get the Style club! #SharkTank
— Celebrity Life Coach Avalaura (@HealerAvalaura) November 5, 2016
— Kerry T Crane (@CraneKerry) November 5, 2016
Would you buy clothing from The Style Club? Sound off in the comments section below!