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Friday, June 5, 2009
The Pitch
Sole Envie launches online customized shoe shopping
By Mass High Tech staff
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Sole Envie Inc.
Headquarters: Boston
Employees: 2
Founded: 2007
Web: www.soleenvie.com
E-mail: monika@soleenvie.com
Phone: 617-519-4445
The Pitch: The company is seeking funding for product and website development.
PITCHING THE TECHNOLOGY
Sole Envie is an e-commerce website intended to enable women to design and purchase custom-designed shoes, and share them with a social shopping community of fashion enthusiasts. Sole Envie says its goal is to become the largest online marketplace for customized fashion. After starting with shoes, the company plans to expand its offering to include apparel and other accessories by leveraging its on-demand retail platform and creating partnerships with established brands wanting to offer customization. The company says it is targeting women aged 18 to 44 who shop online and are looking for personalized fashion that matches their lifestyle and needs. Sole Envie says it also plans to introduce social networking features to its website, including an online forum where users can share their designs.
PITCHING THE PEOPLE
Who is on the management team? Monika Desai, CEO; Eric Estabrooks, CTO
Have executives been involved in a cashout prior to this venture? No.
Who is on the board of advisers? The company has not yet formed an official board.
PITCHING THE BUSINESS
How much money is being sought? Sole Envie is seeking $500,000 to fund product and website development.
What partnerships, collaborations or affiliations are already in place? The company says it has formed a partnership with a Brazilian contract manufacturer.
List any federal or state grants, contracts or awards received: None.
What’s the market size being pursued? The company says it is targeting the $2 billion per year online women’s footwear market.
Who are the likely competitors, direct or indirect? Sole Envie says it expects its indirect competition to come from online shoe retailers including Zappos.com Inc., ShoeBuy.com Inc., and Nordstrom Inc.
Is the company profitable? No.
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