Tuesday, July 24, 2018

The Profit - Montiel Update

Tonight on The Profit, Marcus Lemonis is in Los Angeles, California hoping to make a deal with Montiel.  Montiel is an online-only activewear company started by Maggie Montiel in 2013 which sells things like leggings, bras and tank tops.  Maggie seems unwilling to expand the brand and is not open to new ideas.  She only likes to make products that she would wear and Montiel's sales numbers have started to decrease.

Let's take a look at some information related to Montiel as well as what kind of deal was made on the show.

News and Links Related To The Company:
  • Here is the Montiel website and Facebook page which has over 141,000 likes.  The Montiel Instagram has about 58,000 followers.
    • The website states, "We don’t want to sell the most activewear. We want to sell the best activewear. This commitment to excellence is evident in the size of our collection. Making the best takes a lot of time and effort; selecting the best fabric, designing the best cut and delivering it at the best price. We think it's worth the time."
    • Bras range from $42 - $46, leggings $68 - $88 and tank tops $42 - $48.
  • Montiel does offer a few products for sale on Amazon at similar prices. 
  • In March 2018, Marcus Lemonis posted a Facebook live video asking fans to check out the Montiel website and to provide feedback about the products and the website. (Link)
  • Celebrities that have worn Montiel include Izabel Goulart, Alessandra Ambrosio, Lea Michele. (Link)
  • Maggie has said that her father has been in the fashion industry his whole life and it looks like he is one of the founders of Ashworth, a golf apparel company. (Link)
  • Montiel has made no mention of the company's upcoming appearance on The Profit, so perhaps this deal didn't go well.

The Deal From The Episode Plus Post-Show Updates (this will be updated continually):

  • The Deal - Initial offer was $1 million for 60% of the business and Maggie would be the CEO. They ended up settling on $700,000 for 45% of the business.
  • Marcus ended up walking away from the deal due to Maggie's unwillingness to change anything.
  • Montiel did start offering a hoodie at the beginning of July. (Link)
  • There is currently no activewear on the Susan Monaco website.

*To see how all of the businesses from The Profit are doing, go to the The Profit Updates page, and also Like us on Facebook or Follow Us on Twitter to stay up to date with all things involving The Profit.

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