Mime et moi looking for investors

The Munich-based shoe start-up is insolvent and is now looking for a new financial backer. By the end of the year, the process should be settled by the insolvency administrator, the team and business should remain.

At the end of September, the shoe label Mime et moi filed for insolvency. In mid-October, the Munich District Court appointed the lawyer Axel Bierbach as insolvency administrator. He does not see the start-up as lost, now Mime et moi is looking for investors. "We are putting all our efforts into preserving the company with its special business concept and being able to offer it a future perspective with the help of an investor," says Bierbach. The proceedings are due to be opened 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 heels of shoes, sells them mainly through its online shop, cooperations with boutiques and has a showroom in Munich. Due to the Corona pandemic, the start-up suffered severe drops in sales because festivities such as weddings and birthdays were cancelled, boutiques were closed and, in the meantime, production had to be stopped 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, in which fashion and function are ideally combined. In addition, we have a young and highly motivated team with great know-how in shoe manufacturing that is ready to accompany our company on its further journey," says Haas. If the start-up has its way, the 18 employees will be taken over by the investor.