Shapermint Company Profile

Background

Shapermint, established in 2018, is a leading online marketplace specializing in women's shapewear and intimates. The company is dedicated to empowering women by offering comfortable, shape-enhancing essentials that promote body confidence and self-love. Shapermint's mission is to create a supportive community where women of all shapes and sizes can find products that celebrate their unique bodies. Since its inception, Shapermint has rapidly grown, serving over 4.4 million customers and achieving significant market share in the U.S. women's shapewear industry.

Key Strategic Focus

Shapermint's strategic focus centers on providing a diverse range of high-quality shapewear and intimates that cater to a broad spectrum of body types. The company emphasizes inclusivity, offering products in sizes ranging from XS to 4XL. By curating a selection of both in-house brands, such as Empetua and Truekind, and renowned names like Maidenform and Hanes, Shapermint ensures a comprehensive product lineup. The company leverages aggressive digital marketing strategies, particularly on platforms like Facebook and Instagram, to build a community around body positivity and empowerment. This approach has been instrumental in converting first-time shapewear users into loyal customers.

Financials and Funding

Shapermint has demonstrated impressive financial performance since its launch. In 2020, the company generated $150 million in revenue, surpassing competitors like Skims, which reported $145 million in the same year. In early 2022, Shapermint's parent company, Trafilea, engaged in discussions with private equity and venture capital firms to raise between $50 million to $100 million in equity. The intended use of this capital includes acquiring and scaling functional clothing brands and expanding product availability into department stores.

Pipeline Development

Shapermint continually expands its product offerings to meet customer needs. The company's in-house brands, Empetua and Truekind, have been pivotal in its growth. Empetua accounted for 19.3% of all U.S. women's shapewear sales for the period January to November 2020, with seven of the top ten best-selling shapewear styles in the U.S. during that time. Truekind, introduced in 2020, quickly gained traction, ranking #15 in the U.S. women's non-wire bra market with a 1.2% dollar share. Shapermint's product development focuses on creating comfortable, everyday essentials that empower women to feel confident in their bodies.

Technological Platform and Innovation

Shapermint differentiates itself through innovative use of technology to enhance the customer experience. The company partnered with Secret Sauce Partners to implement Fit Predictor, an AI-based solution that leverages anonymous customer behavior data to provide accurate size and fit recommendations. This technology addresses common fit and sizing issues, reducing purchase friction and minimizing returns. By integrating such advanced solutions, Shapermint ensures a seamless and personalized shopping experience for its customers.

Leadership Team

• Santiago Zabala: CEO of Shapermint, leading the company's strategic direction and growth initiatives.

• Massimiliano Tirocchi: Co-founder and Chief Marketing Officer, overseeing the company's marketing strategies and community-building efforts.

Both leaders have been instrumental in Shapermint's rapid growth and commitment to body positivity.

Competitor Profile

Market Insights and Dynamics

The U.S. women's shapewear market is highly competitive, with several key players vying for market share. Shapermint held a 20.4% share of the market for the 12 months ending November 2020, up from 13.9% the previous year. This growth reflects the company's effective strategies and strong customer engagement.

Competitor Analysis

• Spanx: A pioneer in the shapewear industry, Spanx offers a wide range of products and is estimated to generate $400 million in annual revenue.

• Skims: Founded by Kim Kardashian in 2019, Skims quickly gained popularity, reporting $145 million in revenue in 2020.

• Honeylove: Established in 2018, Honeylove focuses on eco-friendly fabrics and ethical manufacturing, offering a curated selection of shapewear products.

• Shapellx: Provides a variety of shapewear options, emphasizing flattering silhouettes and sustainable materials.

Shapermint's emphasis on inclusivity, community engagement, and a diverse product range positions it competitively within this landscape.

Strategic Collaborations and Partnerships

Shapermint collaborates with various brands to offer a comprehensive selection of shapewear and intimates. By featuring products from well-known brands like Maidenform, Hanes, and Champion alongside its in-house brands, Shapermint caters to a wide array of customer preferences. Additionally, the partnership with Secret Sauce Partners to implement Fit Predictor showcases Shapermint's commitment to leveraging technology to enhance the customer experience.

Operational Insights

Shapermint's operational strategy focuses on a direct-to-consumer model, utilizing aggressive digital marketing to build a strong online presence. The company produces 100-200 creative ad products per week, running over 400 campaigns simultaneously on platforms like Facebook, Instagram, YouTube, and Pinterest. This approach has been effective in rapidly scaling the customer base and driving sales. The company's commitment to body positivity and community engagement further differentiates it from competitors.

Strategic Opportunities and Future Directions

Looking ahead, Shapermint aims to expand its product offerings and enter new markets. The potential funding from private equity and venture capital firms will support the acquisition and scaling of functional clothing brands, as well as the introduction of products into department stores. By continuing to focus on inclusivity, community building, and technological innovation, Shapermint is well-positioned to maintain its growth trajectory and strengthen its market position.

Contact Information

• Website: shapermint.com

• Social Media:

• Facebook: Shapermint

• Instagram: @shapermint

• Twitter: @shapermint

Shapermint continues to empower women by offering products that celebrate their unique shapes, fostering a community centered around body confidence and self-love.