Style Club Shark Tank Net Worth 2023
Style Club, the startup valued at $2.5 million during the pitch backed by Mark Cuban’s investment in May 2022, had done a lot of sales since then and was valued at $2.3 million, but strangely lacked a company website.
This suggests that their efforts to expand may not have paid off as hoped, leading them to go out of business by May 2022 according to Hillary’s LinkedIn profile.
What Is Style Club? Who Is The founder of Style Club?
The Style Club is a unique combination of fashion and art that embodies key values such as authenticity, self-expression, and individuality.
Founded by Hilary Novelle, the company specializes in modern vintage clothing for women with a minimalist aesthetic that draws inspiration from underground artists, cultural icons, and social empowerment movements. The brand is known for its vibrant colors and unique graphics.
One of Style Club’s distinguishing features is its collaboration with celebrities such as Kelli Berglund and Sophie Tweed to create limited edition clothing lines that appeal to younger generations.
Novelle’s passion for fashion and connection to celebrities dates back to her early years when she toured with Destiny’s Child and Christina Aguilera at the age of 12. She was even sponsored by Levi’s due to her unique sense of style.
Novelle’s goal in founding Style Club was to empower women and provide them with fashionable, affordable clothing options. Her experience as a seasoned fashion designer and her success in launching a tween cosmetics brand at the age of 16 positioned her to establish a successful brand that resonates with young women.
Style Club’s merchandise includes reasonably priced jeans, jackets, sweatshirts, and caps. Novelle plans to travel around the country to engage with teenagers in small communities and continue collaborating with rising Hollywood stars to create flash sale, limited edition capsule collections.
The Muse collection, created in collaboration with actress Kelli Berglund and stylist Adeel Khan, is just one example of the brand’s commitment to unique, celebrity-inspired fashion.
What Happened To Style Club At Shark Tank Pitch?
Hillary chose to appear on Shark Tank to seek a business partner who could collaborate with her to expand her company.
During her presentation, she offered a 20% stake in her company for $500,000, which was valued at $2.5 million. She showcased her clothing line using live models and provided each Shark with a personalized varsity jacket worth $60.
Hillary disclosed that her apparel was available at all Urban Outfitters locations, and she had generated $400,000 in sales within 3-4 months. However, she was unable to enter into a deal with the Sharks due to her contract with Urban Outfitters. Kevin was not pleased with this and withdrew from the negotiations.
When Robert asked about the long-term strategy, Barbara intervened and stated that she was no longer interested in partnering with Hillary.
Lori believed that Hillary should continue to sell her products through Urban Outfitters, which conflicted with Hillary’s vision of online sales, causing her to opt-out. Robert did not believe that $500,000 was a reasonable offer given the lack of information and exited the deal.
Daymond offered $500,000 for a 33.3% equity stake, while Mark proposed a unique approach, offering a $500,000 line of credit at 8% in exchange for 22% equity in the company. Hillary accepted Mark’s offer, and they successfully closed the deal.
What Happened To Style Club After Shark Tank?
The agreement with Mark has been finalized, and after appearing on Shark Tank, Hillary launched her online store and expanded her distribution network. However, this deal caused significant controversy as Mark, a billionaire investor, claimed to have invested in The Style Club in 2012, and Hillary subsequently created a NEW Style Club to pitch on Shark Tank.
As of May 2021, the company’s social media profiles are still active, and Style Club products can be purchased through the company’s website or various stores across the United States, including Macy’s, Forever 21, Urban Outfitters, Nordstrom, American Eagle Outfitters, Asos, Skinny Dip, Amazon, State of Myne, Halcyon, Ludovica, Lisa Says, Be, and Cedros Soles.
However, some of these stores may be one-off locations, particularly the ones mentioned after Amazon, so Style Club may not be immediately available in all regions.
Despite the controversy surrounding the deal with Mark, Style Club continues to dominate on social media. The prices of Style Club products have also decreased, with jeans starting at around $49 and accessories ranging from $10 to $18.
Additionally, the company has introduced several new products, including eye-catching designs such as jumpsuits and overalls. As of November 2021, the company has an annual revenue of $748,000.
Competitors of Style Club
The company competes with the following competitors; Glamhive, Wishi, Yuno, Inc., Spottinstyle and FAPL / To the Tens.
Net Worth of Style Club
The company was valued $2.5 million during the pitch, after the Mark Cuban’s investment the company was valued at $2.3 million and since then the company had done a lot of sales which might increase the net worth of the firm.
Style Club FAQs
What is Style Club?
Style Club is an online retailer of fashion for teenage girls. The company deals with young women who want to wear clothes that are unique and attractive.
For example, Hillary Novelle believes that a person should have their own style; they should be able to express themselves in their appearance without it looking like they are trying too hard.
Who is the founder?
Hillary Novelle is the founder and CEO of Style Club. She previously worked as a fashion critic for a YouTube channel called Style Haul, where she presented fashion related topics to viewers.
Hillary utilized social media in order to develop relationships with celebrities and get them to wear her line of clothing.
How much was asking on Shark Tank?
Hillary was asking for $500,000 for 20% of the company.
Did she get the deal?
Yes, she was able to secure a deal with Mark Cuban.
How did she get the deal?
Mark Cuban offers her $500,000 on credit line for 8% interest with 22% equity shares of the company.
What happened after the deal?
Hillary launched the online store right after the deal was signed and she expanded her distribution network.
What is Style Club made of?
Style Club uses high quality fabrics and fine tailoring to make exclusive designs for young women in mind.
What is Style Club business model?
Style Club is a place where you can buy celebrity-inspired clothing at an affordable price.
Hillary Novelle designs clothes inspired by the latest trends and celebrities, and sells them to her fans through her various social media platforms.
How did the style club do after Shark Tank?
Less than two years after The Style Club’s November 2016 episode aired, the firm has secured relationships with other large shops.
In 2018, The Style Club has expanded beyond Urban Outfitters to shops such as Forever 21, Macy’s, American Eagle Outfitters, and Nordstrom.
What happened to style club in the end?
Style Club had a successful launch and grew in terms of revenue.
How do I buy?
Style Club’s online store is currently open for online purchases.
How do I order?
Style Club’s online store uses phone and email orders.
How do I pay?
Style Club accepts payments through credit card, PayPal and bank transfer.
How do I cancel?
One can cancel their account by emailing customer service. There are no refunds on sales.
Who is Hillary Novelle?
Hillary Novelle is the founder and CEO of Style Club; she also worked as a fashion critic for a YouTube channel called Style Haul, where she presented fashion related topics to viewers.
She utilized social media in order to develop relationships with celebrities, bars her items and gets celebrities to wear her lines of clothing.
What is the net worth of Hillary Novelle?
The net worth of Hilary Novelle Hahn is $14 Million.
