Monosuit Update | Shark Tank Season 15
Mia Murr pitched Monosuit on Shark Tank, seeking a $150,000 investment in exchange for 5% in her company. The Sharks were impressed by Mia’s captivating pitch. However, most of them were concerned about the business model.
Mia Murr failed to onboard any Shark, and Monosuit couldn’t land a deal in Shark Tank 15. It’s been over a few months since the episode aired in October 2023, and I’m sure you’re curious to know where this company is now.
Our team follows entrepreneurs and businesses that appeared in Shark Tank, and we’ve got some Monosuit updates after the show!
| Company Name | Monosuit |
|---|---|
| Founder | Mia Murr |
| Founded | 2013 |
| Business | Women’s jumpsuit |
| Ask | $150,000 for 5% equity |
| Deal | No deal |
| Sharks | No sharks |
About the Company
Mia was born in a small village in the U.S.S.R. and always dreamt of becoming a fashion designer.
She completed her higher studies in art and design at Central Saint Martins, London.
Even though she liked jumpsuits because of their versatility, she was concerned about the problems that could arise while wearing them.
She then found a solution by adding patented lower-back zippers to the jumpsuits. This is how she came up with the idea of Monosuit, ‘mono’ denoting one piece.
Apart from being a fashionista, Mia is environmentally conscious as well. Because fishing nets pollute the ocean the most, Mia recovered the nets from the ocean and recycled them into fashionable clothing.
In 2013, Monosuit was launched in Moscow, Russia, and over the years, it has become a multinational organization.
In 2018, the company earned global recognition after its expansion in the United States, Germany, Italy, and the United Kingdom.
The company made its first breakthrough when it received a seed round of investment in the United States.
This led to the launch of a new website, new collections, and further expansion of Monosuit.
The jumpsuits are stretchy, soft, seamless, and breathable. You can wear these versatile jumpsuits in multiple ways, such as the zipper at the front, the back, or even upside down, allowing you to modify your style continuously.
Along with the zipping jumpsuits, Monosuit also sells Monoskins, dresses, bottoms, sleeves, shoes, and various other accessories.
Monosuit products are made in Northern Italy and contain recycled ocean waste using Mia’s innovative technology.
Additionally, if you buy a Monosuit, after wearing it, you can return it to them, and the company recycles it into something new, so basically, there’s zero waste.
The Monosuits are priced between $290 and $350. You can purchase them from their official website.
Monosuit Shark Tank Pitch Recap
Mia Murr pitched her company Monosuit and demanded $150,000 for a 5% equity.
Mia demonstrated her product with a song and dance. She made the presentation along with three models wearing jumpsuits and other Monosuit accessories.
The Sharks were absolutely delighted by Mia’s entertaining pitch. Lori Greiner loved the concept of attaching a zipper to the jumpsuits.
Robert Herjavec asked, “How much is it?”
Mia said that the average retail price of each jumpsuit is $290 while the making cost is $60.
Kevin O’Leary asked, “What have your sales been in the last 12 months?”
Mia shared that in the previous year, they earned a revenue of $245,000 without using any paid advertising.
Robert asked, “Should I think of you as a fashion line or a jumpsuit company?”
Mia said that it’s a fashion brand built in a sustainable community and technology at the same time.
Barbara Corcoran asked, “What percentage of your sales are your Monosuits?”
Mia replied that Monosuits alone contribute to about 70% of sales.
Robert asked, “Have you raised any money?”
Mia shared that she raised $2 million from angel investors at a $12 million valuation in 2018.
Mark Cuban liked the product but thinks Mia is trying to focus on too many things in her business. For that reason, he’s out.
Kevin felt that the business was messed up, and he suggested Mia focus on the jumpsuit to make more money.
Even though he considered it a “great presentation and great product,” he declined to invest and went out next.
Similarly, Robert goes out because he’s unable to figure out “if it’s a tech business, fashion business or a jumpsuit business.”
Barbara wished Mia’s focus was only on the best-selling jumpsuits. As many things are happening in the business, she’s out too.
Lori loved Mia’s creations and praised her role as a great designer. She would love to be a customer; however, as an investor, Lori didn’t feel it was a suitable investment for her. So, finally, she’s out.
With all the Sharks out, Mia had to leave the tank without a deal.
Company Update
Monosuit couldn’t secure a deal on the Shark Tank. However, with its appearance on Shark Tank, the company saw a boost in its sales and gained massive exposure.
The brand’s creative approach has received attention from high-profile celebrities such as Kylie Jenner, Kim and Khloe Kardashian, Madonna, Paris Hilton, Maye Musk, and many others.
Monosuit got coverage from top-tier publications like Vogue Paris, Forbes, Glamour, Elle, Vanity Fair Italia, etc.
As per a Monosuit update, the company is still in business and seems to be doing great.
We’re speculating that between the show and these recognitions and features, Mia has got all the promotion that she really needs for her brand to expand.
More clothing businesses updates from Shark Tank 15:
Conclusion
The Sharks appreciated Monosuit’s usability and eco-conscious approach, yet none invested in the company. Besides gaining popularity from the show, we can expect that Mia will be able to follow the valuable feedback of the Sharks to modify her business model.
