Monograme is a Brazilian, online-only clothing shop offering luxury basic essentials at an accessible price point. They aim to be Everlane for Brazil. A rapidly growing middle class now represents 50% of the total population. The designer clothing and footwear market was worth R$4.6 Bn in 2011 (growing 7.3% from 2010). Brazil import duties and inefficient supply chains keeps clothing prices unreasonably high. In the past 5 years e-commerce sales have grown at a CAGR of 29%, but there is a major gap in online clothing as Brazil has only 6% online penetration (compared to a 22% global average). Therefore, Brazil provides a great opportunity for a brand that can circumvent the cost of physical stores, middlemen and brand markups.