Mark Stidham Net Worth – $100 million
What is Mark Stidham’s net worth?
Introduction
Mark Stidham is CEO and Co-Founder of LuLaRoe, a US-based multi-level marketing company that sells women’s clothing.
Stidham and his wife, DeAnne Brady, who is the other Co-Founder and President of LuLaRoe, are responsible for leading the largest social retailer in the United States.
The Origin Story
Mark Stidham was born in America.
His father was a seasoned construction worker.
This is the only information available about Stidham’s childhood.
Wife
Mark’s life changed on 1998 when he got on board a flight for a business trip.
During the flight is when he met his now-wife, DeAnne.
The two hit it off, exchanged numbers, and the rest is history.
Only a few years after they began dating, he proposed to DeAnne, and they got married shortly after.
This market his second marriage, and he was determined to make it work. His first wife is Susan Stidham.
Children
The two share many similar life and career goals, one of which is the desire to have multiple children.
Well, multiple is an understatement.
They have 14 (15 according to some outlets) children in total, some that are biological and others that are adopted.
Career
Going back to Stidham’s childhood, he became very interested in the world of construction from a young age.
He learned a lot about the trade from his father, and as soon as he could, he picked up a shovel and didn’t put it down for years to come.
Mark ended up working in the construction industry for the majority of his working career.
And while he had a passion for what he was doing, his career would eventually take a turn that would transform him into a self-made millionaire.
It wasn’t until one of his daughters came to his wife, DeAnne, and asked her to design a maxi skirt.
She agreed; from then on, she was the go-to stylist for their daughter. It was at that point that she learned she had a skill for apparel design, and in a short period, she designed and made over 20k skirts.
During this busy time in DeAnne’s life, Stidham was still working full-time in construction.
He and his wife decided it would be best for him to quit and help her with her self-made apparel business.
LuLaRoe
In 2012, the two officially built an apparel business together. LuLaRoe was incorporated in May 2013.
He was responsible for the operations and helped source material and fabric for his wife.
Since the style of garments was broadening by the day, she needed help keeping up with the orders and time to fulfill some of the more complex orders.
The company was incorporated under the name LuLaRoe which was in honor of all their oldest children (Lucy, Lola, and Monroe).
Soon after they incorporated, the business blew up even more prominent.
This was largely due to DeAnne’s incredible fashion skills and Stidham’s ability to transform nothing into something.
Together, they’re a power couple.
LuLaRoe grew so fast that the couple needed to build an additional warehouse to accommodate all the orders.
They even hired some of their children who were old enough to help out with operational and customer service tasks.
They eventually turned it into a sizeable family-owned business until it grew too big that they needed to begin hiring many more employees just to keep up with the business demands.
The company started out of their home, and they used their basement for inventory storage. This is some insight into how far they came along.
When they decided to purchase a large warehouse, they purchased one that was roughly three acres– it was needed to accommodate the growing business.
The couple struggled to come to terms with their self-made success and couldn’t believe that a three-acre warehouse could be filled with inventory for their growing customer base.
DeAnne was so proud of her success that she wanted to use her platform to empower like-minded women to take a chance on building their own careers and earning a significant living.
Major Backlash
In 2018, things took a turn for the worst.
One of the company’s independent retailers was caught making fun of people who live with down syndrome; as a result, people wanted the company shut down.
Stidham and DeAnne refused to cut ties with the retailer, and because of this, their brand took a massive hit.
Stidham said in a public statement:
“We remain strongly committed to promoting Down syndrome education and outreach,” he said.
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Real Estate
Stidham and his wife reportedly have a $7 million ranch in Wyoming. The main house is 7,600 square feet (706 square meters).
The property has direct access to the Salt River and National Forest.
The couple also has a house in Corona, California.
Mark Stidham – Net Worth
Stidham earned most of his wealth from co-founding and serving as the CEO of LuLaRoe.
The company reported sales were at $1 billion in 2016. The company’s main products are brightly patterned dresses, shirts, and leggings.
At one point, their revenue reached $2 billion.
He owns a custom Agera RS valued at $2.1 million.
Therefore, Mark Stidham has an estimated net worth of $100 million.
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