Bridal Babes is an online bridal and bridesmaid boutique that caters to women of all skin tones and shapes. They sell stylish, fitted dresses that allow women to show off their curves and complexion. Founders Charles and Ashley Young pitched their business on Shark Tank and landed a deal with Emma Grede! Bridal Babes is now valued at $1.25 million.
Founder
Charles and Ashley Young are a couple living in Washington, D.C. Little is known about Charles’ background, but Ashley has a degree in marketing from the University of Virginia.
After college, she became a marketing specialist and spent more than a decade managing a $500 million public education campaign. Previously, Ashley lived in New York City and worked at Universal McCann and Porter Novelli. She then worked for the U.S. Food and Drug Administration (FDA) for nine years as a health communications specialist.
Founding Bride Baby
When Charles and Ashley’s wedding was approaching, the bride called to ask what kind of dresses her bridesmaids wanted to wear. They wanted something that would accentuate their unique beauty.
The women visited multiple bridal stores in vain to find brightly colored, fitted gowns, which made Ashley realize there was a gap in the bridal market for women of color and women with unique body types—a gap that needed to be filled in the $61.9 billion U.S. wedding industry.
Bridal Babes launched in 2019 and generated $30,000 in revenue in its first year. Charles quit his job as a detective to run the company full time. As president and COO, he manages logistics and operations. They are on track to hit $1 million in sales by 2021.
Shark Tank
Charles and Ashley pitched confidently on Shark Tank and explained the business well. The Sharks were impressed with their sales and steady growth. The Sharks didn’t like that they were spending 30% of their revenue on advertising, which had a big impact on the bottom line.
Robert and Kevin were the first sharks to exit. Emma Greider offered $250,000 for 25% of the company, which was far more than their initial valuation. The founders countered by offering 20% and the deal was done.
After Shark Tank
Bridal Babes has seen a 200% increase in inquiries following the episode airing on October 21, 2022. The deal with Emma Grede has been completed, with Ashley revealing that she has played a major role in running the company.
You can contact Bridal Babes directly through their website BridalBabes.co. In addition to dresses, they also sell robes and merchandise. Their bridal collection has a 2.5 star rating out of 13 reviews on TheKnot.com. The company is thriving, with lifetime sales of $2 million. In 2022, they had revenues of over $1.2 million and a valuation of $1.25 million.
The biggest challenge for Bridal Babes is improving supply chain efficiency as they scale. The dresses are made overseas, so unless they pay extra for air freight, orders can take more than a month to ship.
Categories: Shark Tank
Source: dut.edu.vn
