I'd certainly recommend not to use sed, because it is unaware of the file format and you might easily render the SVN dump file unusable.
Additionally, if you want to replace a bit more than just a path, you need to either update or simply remove the SHA1 and MD5 check-sums, too.
Modifying an SVN dump is really not as trivial as it might seem at first.
I had the same problem, yesterday, and I wrote a little program for this purpose. I published it here for everyone to use:
https://github.com/nlmarco/svndumptransformer
It's free software and you're welcome to modify it, if you want/need more features.
This program modifies only text content (if a file - e.g. an image - is marked to have the mime-type "application/octet-stream", it is not modified). And since it really reads and understands the SVN dump format, it does not modify structural data belonging to the SVN dump - unlike the sed command above.
For me, this program as it currently is worked fine in renaming a product - causing all paths as well as project configuration files (=> gradle) and a few dozen Java classes to be renamed.
I hope that this program is useful to other people, too.
Btw. I'm aware that this question is very old, but I hope that my answer might help others who encounter this problem, now.