Your Closet sounds like a great — yet simple — idea that you wonder why you didn?t think of it first. Instead of buying pricey outfits that you?ll probably only wear once for a specific event, why not try renting one for a price that?s about 10 to 15 percent of the retail price? Twenty-one-year old Briella Brown thought of it and turned it into the online dress rental business Your Closet, and now she?s won $80,000 in investment for it.
Brown is one of the entrepreneurs that pitched on the latest episode of Shark Tank, a reality show where entrepreneurs pitch their ideas to a group of ?sharks?, millionaire entrepreneurs who could invest in the products pitched to them. Smart Company notes that Brown was the only one on last night?s episode to secure a deal with the ?sharks?. ?Sharks? Janine Allis and Naomi Simson split the $80,000 investment between the two of them to acquire a 30% share in the company.
According to the Daily Mail, Brown thought of the idea when she was invited to three school formals and ?couldn’t afford to buy a gown she would ‘never wear again’ for each occasion.? The outlet also notes that Your Closet already had a ?range of clients? before Brown went on Shark Tank, from ?event-going women in urban areas and women who live in rural locations and don’t have access to large department stores.?
?Shark? Janine Allis was so impressed that she called Brown an ?extraordinary young lady who is going to be a great business woman? on her blog, noting that Your Closet could branch off from formals to ?weddings, races and many events that women have to dress to impress.?
Since the episode aired, the impact has been immediate, Brown tells Smart Company. According to her, ?Your Closet saw a ?massive boost? in both traffic and interest.?
?We weren?t expecting many immediate rentals, as not all women have an event on this weekend,? Brown tells Smart Company. ?Our social media exposure grew exponentially overnight, I didn?t expect this much.?