Jackie Courtney was surprised that Shark Tank called her. She was, after all, “just a girl with a website and 50 wedding dresses” in her bedroom. Jackie started her online consignment business for wedding gowns for the brides who were breaking their budget on a gown or who have to settle for less than they wanted. On Nearly Newlywed, the seller lists her wedding gown for a fraction of its original cost and recoups some of the money she spent on the “wear-once” dress. The buyer finds her heart’s desire at an affordable price. The big difference between the consignment platform and a rental service is that the buyer can alter the gown if she wants. She bought it, it’s hers. After the wedding, she can sell it on Nearly Newlywed or keep it. Kevin made an offer but Jackie declined.
After the show, the traffic on Nearly Newlywed skyrocketed. Jackie became partners with the upscale Kleinfeld’s Bridal (as seen on Say Yes to the Dress) in midtown Manhattan. They have thousands of wedding dresses on hand. Now Jackie has countless dresses (new, samples, preowned) on her website that are discounted up to 90% off retail. More than a million brides visit Nearly Newlywed annually. The website also includes “storefront” platforms on which other vendors sell wedding-related items, such as vintage or new engagement rings, wedding bands and bridal party gifts.
Nearly Newlywed in the Shark Tank
During her appearance on Shark Tank in Season 4, Episode 3, Jacqueline Courtney, founder of Nearly Newlywed, asked for an investment of $35,000 in exchange for a 10% stake in her company, valuing it at $350,000. The business model of Nearly Newlywed involved selling high-end bridal dresses online at a reduced price, with the option for customers to sell the dresses back to the company for 50% of the purchase price. Despite presenting her website and showcasing some dresses, Courtney did not secure a deal with any of the Sharks. Kevin O’Leary made an offer, but it involved a 40% ownership stake, which Courtney declined as the percentage was too high.
| Ask | $35,000 for 10% equity |
| Valuation | $350,000 |
| Shark Offer | Kevin O’Leary offered to invest for a 40% stake |
| Deal Status | No deal |
| Reason for No Deal | Founder declined O’Leary’s offer due to high equity demand |
| Entrepreneur’s Pitch | Online marketplace for high-end bridal dresses with buyback option |
Nearly Newlywed After Shark Tank
After appearing on Shark Tank, Nearly Newlywed, founded by Jackie Courtney, experienced significant growth and success. Despite not securing a deal on the show, Courtney’s company benefited greatly from the exposure. Here are some key developments and achievements for Nearly Newlywed post-Shark Tank:
Partnership with Kleinfeld’s Bridal: Nearly Newlywed established a partnership with Kleinfeld’s Bridal, a renowned bridal store featured on the show “Say Yes to the Dress”. This partnership significantly boosted the company’s profile and offerings to customers.
Financial Growth: As of September 2023, Nearly Newlywed reported a net worth of $5 million, with annual revenue reaching $1.4 million. This marks a substantial increase from the company’s initial valuation of $350,000 during its Shark Tank pitch.
Expansion and Product Line Development: In 2017, Nearly Newlywed opened its first physical retail store in Brooklyn, New York, broadening its presence beyond the online platform. Additionally, in 2020, the company launched its own line of sustainable wedding dresses, reflecting a commitment to affordability and environmental consciousness.
Online Presence and Customer Base: The Nearly Newlywed website features hundreds of dresses, with discounts up to 90% off retail prices. The site attracts over a million visitors annually, catering to brides on a budget. Moreover, Nearly Newlywed expanded its offerings to include a platform for other vendors selling wedding-related items and high-end articles from notable figures in the wedding industry.
Nearly Newlywed has shown remarkable growth and resilience since its Shark Tank appearance, capitalizing on its exposure to expand its business and reach a wider customer base.
