Bethann Hardison and the Council of Fashion Designers of America have revealed the 10 recipients of funding from the Desi...
Note: This deal is is being conducted on an expedited basis due to circumstances relating to COVID-19 and pursuant to the SEC's temporary regulatory COVID-19 relief.
Problem
Nude heels aren’t one color fits all
Nude heels are an iconic style investment. They are trend immune, lengthen legs, and serve a utility unlike any other shoe. Like band-aids and makeup, nude heels look best when they match the users’ skin. Most brands only sell one color, beige, which leaves many consumers overlooked.
Solution
Every style in your shade
Salone Monet is a color inclusive nude shoe company where beauty is defined by the individual. Our creative approach is simple: celebrate the wearer. The results are a premium shoe offering color equity for all shades. We have created a line of skin matching nude shoes in 6 shades celebrating all colors. We make getting dressed easier by matching with the most essential part of every outfit, the wearer.
Product
A wardrobe staple redesigned with color equity and sustainability in mind
Salone Monet uses an exclusive production model that significantly reduces waste, alleviates the financial risk of unnecessary inventory, and gives artisans in the United States a new way to grow. In order to reduce waste and support local dyers, every pair starts out in 100% white silk, then is dyed to your order request.
IMPACT
We have pioneered a new production model that significantly reduces waste caused in the fashion industry and gives artisans in the United States a new way to grow. The business of fashion has a carbon footprint only second to oil and gas. One of the primary reasons is because un-purchased inventory ends up as waste and quickly finds its way into landfills. Traditionally massive productions are manufactured in order to offset the risk of unsold items, but every pair of Salone Monet shoes are hand dyed to order. This prevents the purchase of the excessive inventory needed to sell multiple color offerings. And our unique post-production dye model supports artisan jobs in the United States.
Traction
Recipient of the Bethann Hardison Designer’s Hub Grant and Winner of ICON360
Salone Monet has generated huge buzz in the fashion industry for our inclusive, versatile and comfortable designs. We were recipients of the Bethann Hardison Designer’s Hub Grant and a winner of ICON360’s A Common Thread Fund. Our designs have been worn by Beyonce, Keke Palmer and other notable artists and influencers. We’ve been featured in 30+ magazine articles, including pieces by Elle, Marie Claire, Refinery29, Cosmopolitan, InStyle and many others.
Customers
Black women have long been the epicenter for fashion and lifestyle movements
At Salone Monet, we understand that nude is not a color. Our shoes were created to meet the underserved needs of women of color, especially black women. As such, our shoes have been met with massive support from the community.
Business model
An affordable luxury shoe priced under $300
Salone Money sells an affordable luxury shoe priced under $300. We have a D2C revenue model and average ~$265/sale. We project our revenue to surpass $100K over the next six months. We also use pop-up retail experiences to drive consumer awareness and interest.
Market
Online shoe sales are expected to reach $18B by 2023
The shoe business is huge, with online shoe sales expected to reach $18B by 2023. Salone Monet uses a direct to a consumer e-commerce site and pop-up retail experiences, gaining a market share by earning the loyalty of key tastemakers in the fashion industry. Black women spend around $3.6B, and our products cater directly to their needs. By providing this demographic with an important style tool we can grow from offering a niche service to being a lifestyle brand for women of all shades.
COVID-19 has dramatically impacted the retail industry. The future of fashion means all items we wear will serve both a stylistic and utilitarian purpose. Clothing is a necessity and COVID-19 is quickly ushering in the demand for considerate consumption. Every garment will be thoughtfully purchased and worn for many occasions. This is why staple pieces like jeans, a little black dress, and nude heels will be all the more important. Our products are style essentials, so we have the capacity to weather the COVID-19 crisis due to our low overhead and made-to-order sales model.
Competition
Salone Monet has established itself as the premier inclusive nudes brand
Salone Monet holds numerous competitive advantages over our competitors. We are an e-commerce company with a hand dyed, made-to-order product, meaning we prevent unnecessary inventory waste. Our shoes are competitively priced and also provide important skilled jobs for the US economy. We’ve established a social media influence through the visibility of celebrities who wear our products and have a comprehensive line of inclusive nude shoes for every occasion.
Vision and strategy
Becoming the Fenty Beauty of shoes
Salone Monet intends to become the premier and world recognized brand for inclusive, stylish, nude shoes. Much like Ivy Park and Fenty Beauty, we want our clients to know that we stand for more than just style; our inclusive products and sustainable business practices mean that we represent the future of global fashion.
Funding
Raising to support inventory and future partnerships with retailers
Salone Monet is currently raising to support our product expansion. We have received incredible interest in our shoes and are raising so we can fund the design of new styles and shades for our portfolio. In addition, we also plan to pursue strategic retail partnerships to launch in-store exposure, which will dramatically drive brand recognition and sales. The crowdfunding investment will be used to hire designers and operations professionals to aid in product line diversification and to increase paid advertising channels. In the next 5 years, we plan to be in 3 brick and mortar retailers and 2 e-tailers.
Salone Monet bootstrapped for the first 18 months, and have since completed a friend and family round and one-note with an angel investor. We've raised 65K to date.
Notable investors include: Chid Liberty and Kavita Gupta
Founders
From public relations to shoe design
Salone Monet is the founder and creative behind the color inclusive nude shoe brand Salone Monet. A lifelong passion for shoes turned Salone away from political PR and into a shoe designer. After receiving a degree in Public Communications from American University in Washington, DC, she created digital content for the federal government and trade associations while working at a shoes and accessories boutique. There she realized the need for color equity amongst nude shoes. Salone learned shoemaking in Brooklyn NY, where she made her first pair of nude heels from scratch. Her color inclusive line has adorned the feet of Beyoncé Knowles, Gabrielle Union, Keke Palmer, and a host of other influential people.