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La Más Mona
Invest together with
Oscar Ocaña
Origins of “La Más Mona”
“La Más Mona” was founded in 2012 with the vision of offering a more sustainable and responsible solution to the fashion consumption. 70% of the clothes in our wardrobe are not used and a lot of them are bought in a compulsively way. The production of this clothing items has had a large environmental impact. More than the 60% of the produced garments end up either in a landfill or destroyed by its manufacturers.
“La Más Mona” is the pioneer and reference company of clothing renting in Spain. It has an omnichannel service that offers its customers an infinite wardrobe where they can have access to the latest items from the best designers and they only pay for their use. Every time a clothing item from “La Más Mona” is rented, a garment that would have been rarely used and that would have had a huge environmental impact (more than 5.000 litres of water and 35kg of CO2 per average) is no longer manufactured. So far, “La Más Mona” has rented more than 33.000 garments, helping to save 165 million litres of water. This equates to 70 Olympic pools and more than a thousand tonnes of CO2 (same as to 100 world tours by plane).
Once the useful life of the garments is over (they are rented an average of 5 times per garment), it is proceeded to its settlement, liberating in this way all the stock that can no longer be used.
“La Más Mona” has a great impact on social media, especially on Instagram, where they have already more than 200.000 followers. This is a good sample to show that the company’s value proposal is having a great reception in the market.
What’s the current situation of “La Más Mona”?
“La Más Mona” is a company that already has a track record of 6 years, so we can consider it’s ending its Early Age phase to take the plunge to the Growth Stage phase.
Therefore, its medium-term goal is to expand its brand nationally through a franchise model. This will allow them to reach all those cities where they have relevant online traffic without incurring large cost. This is essential, since the conversion rate of online shopping is only a 1% while shopping in physical stores is 50% higher.
Nowadays they are already in Madrid (owned store), Valencia, Bilbao, Málaga, Murcia and Zaragoza.
What are the funds for?
The amount of €400.000 that will be raised thanks to this capital increase will be used to enhance the following parts within the company:
- 16% will be allocated to invest in marketing and communication, which will allow the company to increase the visibility of the brand at a national level. As a result, the franchises will gain traction through this year. The main channels they are looking to enhance are its SEO, their presence in Instagram, where they already have more than 180.000 followers, and their agreements with different influencers on the national scene.
- 28% will be invested in the development and expansion of the business at a national level. This money will be mainly used to finance the creation of a network of franchises that LMM wants to expand to the main Spanish cities. For this year 2019, it is expected to open franchises in Zaragoza, Barcelona, Seville and Valladolid. A part of the money will be used to transfer the shop to the street Almirante in the Salamanca neighbourhood in Madrid.
- 16% will be allocated to enhance the functionality of the LMM website. Although, as we said above, we could qualify this business model as “analogical”, it is important to have a visual and simple website that act as the brand’s showcase. This incentives the users to go to the stores to try the service, as it is proven that conversion rate of store visits is 50%. In addition, one of the goals for 2019 is also to increase the web conversion rate from 0.16% to 1%.
- 16% will be allocated to enhance the company’s human capital. It will be used to finance the incorporation of the new boss of the store at the Almirante Street in Madrid. Lately she will be the boss of all Salamanca neighbourhood’s stores.
- The remaining 24% will be invested in renewing the inventory in order to increase the offer for its clients during this year.
NOTE: The minimum investment to be made is €500, 42 , which corresponds a package of 3.200 company shares. The investment will be developed in package in order to avoid the rounding assigns less company shares to the investor (the price per share is €0,156381).
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Investment details
