Dagne and Xiomara, love to travel and were inspired by their many road trips and international travels to embark on their leather bag and accessories business venture. Whether it’s long journeys or daily commutes, the two yearned for classic styles with a story. The dynamic duo currently reside in Oakland and Sacramento, CA.
After a recent trip to Ethiopia, Dagne, born and raised in Ethiopia, brought home several leather goods home as gifts for friends and family, only to realize that he needed to go back to Addis Ababa for more! Both Xiomara and Dagne receive loads of requests from friends, co-workers and strangers for more handmade leather goods from Ethiopia. Thus, the birth of UnoEth began.
On embarking on this new adventure, the duo only wanted to deliver quality and timeless pieces that could be worn for years on end, surpassing trendy styles and fads. All Unoeth goods are handmade, 100% Ethiopian leather. Xiomara and Dagne partner with artisans and help them become small business owners in Addis Ababa, Ethiopia and help create business and job opportunity in their homeland.
The father-daughter team hopes to create more business opportunities for artisans in Ethiopia in the leather sector. They also plan to expand into the textile business and support organic cotton and linen weavers in a apparel and home textiles.
This loan is special because:
More about this loan
UnoEth (pronounced: ooh-no-eth) is a father-daughter business that sells handmade leather goods from Addis Ababa, Ethiopia. We decided to launch our business after receiving a large demand from our friends, family members, co-workers and casual strangers. We currently sell online and at markets, fairs and consign at local retailers as well.
Our biggest challenge at the moment is keeping up with demand. We receive lots of interest in our products and are unable to deliver due to lack of inventory. In order to support our vendors, retailers, and our business, we are seeking an investment for more inventory and promotional marketing to have more product to sell and supply our retailers and opportunity to meet more customers.
We strive to empower and partner with more artisans in Ethiopia and at the same time, expand our current product assortment.
What is the purpose of this loan?
This loan will help UnoEth with increasing demand to supply to our customers, retailers and pending wholesalers. More inventory would supply more sales and more sales can fund larger purchase orders with our vendors. In addition, the loan will help market and promote the UnoEth brand and attract more customers to purchase online.
With a loan of $8,750.00, we envision investing $6,000.00 in inventory and the remaining in marketing. With a $6,000 purchase order, our forecasted sales is $20,000.00 after landed costs. With $2,750 remaining, investing in social media marketing will expand our brand in the San Francisco Bay Area via Facebook, Instagram and social media influencers. Our business will be able to run at a higher level of volume, expand product line and number of retailers, and produce more revenue via multiple sales channels.
This loan will enable Xiomara to focus on the business 100% of the time and increase revenue.
Years in operation: 1 year – 3 years