ABC News' Taylor Behrendt reports:
But Isabella, now 6, got attention for all the wrong reasons last year when video showed her offering scathing criticism of her rival, Paisley Dickey, and in a reference to the girl's costume, calling her a "hooker."
Her comments caused an uproar and her mother, Susanna Barrett, pulled her from the show and off the pageant circuit.
A lot has changed since Isabella left the pageant world. She became a global star and millionaire, thanks to her hugely popular reality-TV show in Germany and her company, Glitzy Girl, through which she offers her own line of jewelry, lip gloss and velour hoodies.
Part of the proceeds from Glitzy Girl's sales benefit an anti-bullying campaign, her mother said.
"It's nice that we can customize things to really raise money to really raise awareness," Barrett said in an interview with ABC News that aired today on "Good Morning America."
Isabella is now in first-grade, and she's already a fashionista. She owns more than 60 pairs of shoes and has her own pageant room worth more than $100,000.
Isabella is young, but her spending is very grownup. She once spent more than $1,000 on room service and, during a recent trip to Los Angeles, purchased 14 velour track suits at a Juicy Couture store.
"I bought so much stuff it wouldn't fit in the car," Isabella said.
Asked whether she was worried that Isabella would become spoiled, mom Barrett said: "Bella is educated, she's cultured, she speaks four languages. … I really think at the end of the day it's perception. Some people buy some things for their kids that I'm like, 'Oh, my God, I would never, that's a little extravagant.'"
With her retail empire growing, Isabella is setting her sights on another challenge: pop stardom.
Isabella has already recorded the song "LOL" with fellow pageant princess Eden Wood, and there's a music video for it. Another potential hit is on the way.
Barrett wants to be remembered for spreading a positive message, in stark contrast to the incident that caused her to withdraw from the pageant world.
Wendy Dickey had dressed her daughter, Paisley, in a costume that mimicked that of actress Julia Roberts' prostitute character in the movie "Pretty Woman." Paisley appeared in the 2011 pageant in the costume that was complete with fitted, skin-baring white blouse, tight blue mini-skirt and thigh-high, shiny black boots, and blond wig.
In a video obtained by TMZ last year, Isabella complained that Paisley copied her tanning style, adding "but my mom doesn't dress me up as a hooker."
Speaking to "GMA" after the incident, Barrett said, "We had a discussion about it … children pick up on things and I should have never pushed my personal views through my daughter. However, the fact still remains that [Paisley] did this and she gained national attention for it."
Dickey took to social media to admonish Barrett for her comments about her child. The incident elicited tremendous reaction online and both mothers were criticized for their behavior.
Dickey has said she and her daughter were quitting pageants because of alleged bullying since the incident. She said her daughter had had new opportunities, too.
Paisley has her own hit single, "The Booger Song," and just wrapped shooting her first short horror film, "Exeter," her mother said.