Mime et moi looking for investors

The Munich shoe start-up is insolvent and is now looking for a new financial backer. The insolvency administrator aims to complete the process by the end of the year, with the team and business remaining in place.

The shoe label Mime et moi filed for insolvency at the end of September, and in mid-October the Munich Local Court appointed lawyer Axel Bierbach as insolvency administrator. He does not see the start-up as lost, and Mime et moi is now looking for investors. "We are putting all our efforts into preserving the company with its special business concept and offering it future prospects with the help of an investor," says Bierbach. The proceedings are set to begin on December 1 and Bierbach hopes to have the process completed by the end of the year.

The Munich-based start-up has a patented technology for height-adjustable shoe heels, sells these primarily via its online store, cooperations with boutiques and has a showroom in Munich. The start-up suffered a sharp drop in sales due to the coronavirus pandemic, as festivities such as weddings and birthdays were canceled, boutiques were closed and production had to be halted in the meantime due to a lack of raw materials. Mime et moi produces at five locations in Europe.

Mime et moi Managing Director Tim Haas is confident: "We are convinced that we have a unique product with above-average growth potential that combines fashion and function in an ideal way. We also have a young and highly motivated team with extensive expertise in shoe production that is ready to accompany our company on its further path," says Haas. If the start-up has its way, the 18 employees will be taken on by the investor.