Yahoo Lifestyle Master P saw a problem in the sneaker business, and he's solving it with the 'Bugatti of shoes'
Percy Miller recognized a problem within the footwear industry. Though African Americans were buying sneakers, they were not creating and designing sneakers.
“As a businessman, my strategy is to look for a problem and then solve it,” Miller said to Yahoo Finance. “I thought to myself, why aren’t any of us creating this?”
Miller, better known to the world as Master P, has had a long and distinguished career that has spanned across multiple platforms including music, sports and entertainment. Though Miller is most associated with being an award-winning multi-platinum rapper, it’s his latest move into the footwear industry that is turning heads.
The New Orleans native refers to his sneaker line, called MoneYatti, as the Bugatti of shoes.
“When we started MoneYatti we said this couldn’t look like anything else out there,” he said. He and the MoneYatti team succeeded and created some of the most unique looking shoes on the market.
Miller knows a thing or two about sneakers. Not only did he have a brief stint in the NBA as a player but in the late ’90s, Miller collaborated with Converse on “No Limit” sneakers named after his record label. Though the shoe was not a commercial hit, it got Miller thinking about making his line of footwear and apparel.
MoneYatti branded shoes are considered high end. They run on the pricier side of the footwear spectrum with the lowest priced shoe coming in at $189 and the most expensive coming in at $284. The shoes are all custom handcrafted in Italy using Italian leather.
MoneYatti’s business model centers around customer service. The shoes are shipped with free express shipping to Europe and the United States. Its website boasts that if customers do not love the shoes, they will replace them or refund the shoes no questions asked.
Playing off his basketball experience, Miller told Yahoo Finance that he plans to introduce a MoneYatti basketball shoe. He pointed out that many NBA players that are signed to big brands like Nike (NKE) are not making big money. That’s reserved for the LeBron James, Kevin Durant and the Steph Curry’s of the world.
MoneYatti plans to go after and invest in players before they become stars.
“No one is looking to sign the 6th man, but sometimes they become stars, look at James Harden,” he said. “He went from being a 6th man on the Thunder to being an MVP on the Rockets. Imagine getting a star like that before they blow up.”
Miller told Yahoo Finance that a portion of each pairs proceeds goes to help inner-city children’s education. He said that he wants to not only help children focus on education but business as well.
“The brand is about the next generation and how to start thinking about business now,” he said. “Let’s be owners, not just workers.”
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Reggie Wade is a writer for Yahoo Finance. Follow him on Twitter at @ReggieWade.
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