Footwear Business Quotes

Footwear, apparel, accessories, cosmetics - they all belong to the ecommerce category or retail category, but they all are very different industries and require their own research.

If you close your eyes on a busy urban sidewalk the sound of everybody’s different footwear’s footsteps all put together sounds like something getting chewed by something huge and tireless and patient.

If you close your eyes on a busy urban sidewalk the sound of everybody's different footwear's footsteps all put together sounds like something getting chewed by something huge and tireless and patient.

Katz needed bootlaces, so we went to an outfitter’s, and while he was off in the footwear section I had an idle shuffle around. Pinned to a wall was a map showing the whole of the Appalachian Trail on its long march through fourteen states, but with the eastern seaboard rotated to give the AT the appearance of having a due north-south orientation, allowing the mapmaker to fit the trail into an orderly rectangle, about six inches wide and four feet high. I looked at it with a polite, almost proprietorial interest—it was the first time since leaving New Hampshire that I had considered the trail in its entirety—and then inclined closer, with bigger eyes and slightly parted lips. Of the four feet of trail map before me, reaching approximately from my knees to the top of my head, we had done the bottom two inches. I went and got Katz and brought him back with me, pulling on a pinch of shirtsleeve. “What?” he said. “What?” I showed him the map. “Yeah, what?” Katz didn’t like mysteries. “Look at the map, and then look at the part we’ve walked.” He looked, then looked again. I watched closely as the expression drained from his face. “Jesus,” he breathed at last. He turned to me, full of astonishment. “We’ve done nothing.” We went and got a cup of coffee and sat for some time in a kind of dumbfounded silence. All that we had experienced and done—all the effort and toil, the aches, the damp, the mountains, the horrible stodgy noodles, the blizzards, the dreary evenings with Mary Ellen, the endless, wearying, doggedly accumulated miles—all that came to two inches. My hair had grown more than that. One thing was obvious. We were never going to walk to Maine. In a way, it was liberating. If we couldn’t walk the whole trail, we also didn’t have to, which was a novel thought that grew more attractive the more we considered it. We had been released from our obligations. A whole dimension of drudgery—the tedious, mad, really quite pointless business of stepping over every inch of rocky ground between Georgia and Maine—had been removed. We could enjoy ourselves.

The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” George Bernard Shaw On a cool fall evening in 2008, four students set out to revolutionize an industry. Buried in loans, they had lost and broken eyeglasses and were outraged at how much it cost to replace them. One of them had been wearing the same damaged pair for five years: He was using a paper clip to bind the frames together. Even after his prescription changed twice, he refused to pay for pricey new lenses. Luxottica, the 800-pound gorilla of the industry, controlled more than 80 percent of the eyewear market. To make glasses more affordable, the students would need to topple a giant. Having recently watched Zappos transform footwear by selling shoes online, they wondered if they could do the same with eyewear. When they casually mentioned their idea to friends, time and again they were blasted with scorching criticism. No one would ever buy glasses over the internet, their friends insisted. People had to try them on first. Sure, Zappos had pulled the concept off with shoes, but there was a reason it hadn’t happened with eyewear. “If this were a good idea,” they heard repeatedly, “someone would have done it already.” None of the students had a background in e-commerce and technology, let alone in retail, fashion, or apparel. Despite being told their idea was crazy, they walked away from lucrative job offers to start a company. They would sell eyeglasses that normally cost $500 in a store for $95 online, donating a pair to someone in the developing world with every purchase. The business depended on a functioning website. Without one, it would be impossible for customers to view or buy their products. After scrambling to pull a website together, they finally managed to get it online at 4 A.M. on the day before the launch in February 2010. They called the company Warby Parker, combining the names of two characters created by the novelist Jack Kerouac, who inspired them to break free from the shackles of social pressure and embark on their adventure. They admired his rebellious spirit, infusing it into their culture. And it paid off. The students expected to sell a pair or two of glasses per day. But when GQ called them “the Netflix of eyewear,” they hit their target for the entire first year in less than a month, selling out so fast that they had to put twenty thousand customers on a waiting list. It took them nine months to stock enough inventory to meet the demand. Fast forward to 2015, when Fast Company released a list of the world’s most innovative companies. Warby Parker didn’t just make the list—they came in first. The three previous winners were creative giants Google, Nike, and Apple, all with over fifty thousand employees. Warby Parker’s scrappy startup, a new kid on the block, had a staff of just five hundred. In the span of five years, the four friends built one of the most fashionable brands on the planet and donated over a million pairs of glasses to people in need. The company cleared $100 million in annual revenues and was valued at over $1 billion. Back in 2009, one of the founders pitched the company to me, offering me the chance to invest in Warby Parker. I declined. It was the worst financial decision I’ve ever made, and I needed to understand where I went wrong.

humans have been walking and running on their bare feet for millions of years, and many people still do. Moreover, when people did start to wear shoes, probably around 45,000 years ago,2 their footwear was minimal by today’s standards, without thick, cushioned heels, arch supports, and other common features. The oldest known sandals, dated to 10,000 years ago, had thin soles that were tied onto the ankle with twine; the oldest preserved shoes, dated to 5,500 years ago, were basically moccasins.3 Shoes are now ubiquitous in the developed world, where being barefoot is often considered eccentric, vulgar, or unhygienic. Many restaurants and businesses won’t serve barefoot customers, and it is commonly believed that comfortable, supportive shoes are healthy.4 The mind-set that wearing shoes is more normal and better than being barefoot has been especially evident in the controversy over barefoot running. Interest in the topic was ignited in 2009 by the best-selling book Born to Run, which was about an ultramarathon in a remote region of northern Mexico, but which also argued that running shoes cause injury.5 A year later, my colleagues and I published a study on how and why barefoot people can run comfortably on hard surfaces by landing in an impact-free way that requires no cushioning from a shoe (more on this below).6 Ever since, there has been much passionate public debate. And, as is often the case, the most extreme views tend to get the most attention. At one extreme are enthusiasts of barefoot running, who decry shoes as unnecessary and injurious, and at the other extreme are vigorous opponents of barefoot running, who think that most runners should wear supportive shoes to avoid injury. Some

Have you always had a dog?” I asked. I so wanted to know everything about him. “No, Pigeon’s my first pet.” “And you didn’t consider getting any other kind? Like a cat?” “A cat?” he scoffed. “Never. I’m not bringing home some sociopath intent on luring you into a false sense of security before they eat your face.” That made me laugh. “Some cats are nice and affectionate.” Not that I had any firsthand knowledge, but it had to be true. “Decoys. They’ve never forgotten that they used to be worshipped as gods. You’ll never see dogs planning on destroying humankind. Which is one of the reasons I adopted Pigeon.” “She won’t eat your face?” He smiled. “I’m pretty sure she’s not plotting my demise. And it’s nice to love somebody who doesn’t want anything in return.” Whoa, that sounded deep and like an area that was obviously none of my business but I still wanted to ask too many questions about. Before I could figure out what to say in response, he said, “While we’re on the topic of animals and their devious plans, something you should definitely know about Pidge is that she loves shoes. And by love, I mean she chews them into tiny pieces until they no longer resemble shoes. So you always want to keep your closet door shut.” “Got it. She won’t come for my face, but she will for my shoes.” Pigeon and I were going to have issues if she chewed up my shoes. I’d been forced to sell off most of my bags and footwear. The shoes I had now were very inexpensive and I wasn’t emotionally attached to them, but I didn’t have enough money to buy more cheap shoes.

If I was honest, the work of a cobbler was purgatory to me. I preferred to be out on the hillside, watching over sheep in the fresh air. Most of Nonno’s customers were old shepherds and their feet smelt like ripe cheese. Their work made them walk for kilometres and they seldom had a chance to wash. More often than not, the shepherds’ shoes and feet would be caked in manure and even though Nonno had taught me to wash their footwear three or four times in cold water before working on it, the strong odours still clung. It was a readymade business for me to take on, but I was reluctant.

Do you need assistance with your dress?” “I do not.” She shifted, and Ben heard her draw in her breath at the sight of him peeled down to his breeches and boots. He sat on the bed, giving her his back so he could tug off his footwear. Maggie came around the bed and sat beside him. “This doesn’t feel right.” When he wanted to hurl his boots hard against the bedroom wall, Ben instead set them tidily beside the bed. “What doesn’t feel right about it?” “It’s broad daylight and we’re not married and we’re not marrying, either.” “This marriage business troubles you exceedingly,” he observed. “What is about to happen between us has happened before, Maggie, and at your instigation in even broader daylight than this. I believe you enjoyed yourself, and I most assuredly know I did. Do we need to complicate matters beyond that?” She turned green eyes on him, luminous with some emotion he could not name. “I suppose not.” Her busy, brilliant mind wanted to complicate it—he could see that much in her troubled expression—but his not-very-brilliant, lust-clouded mind was determined on simplicity. He took her hand and put it over the fall of his trousers. “It isn’t complicated at all. You want me, and I’m happy to oblige you. Take the dress off, Maggie, or I will tear it from your body.” And this—this sincere threat of sartorial violence—was what finally won him a small, impish smile. “You would not tear it off me, but you might ruck it up and wrinkle it beyond salvation.

Some businesses take a unique approach to this. Footwear brand Toms, already beloved thanks to its renowned blend of “social purpose” and product, forgoes splashy celebrity marketing campaigns. Instead, they engage and elevate real customers. During the summer of 2016, Toms engaged more than 3.5 million people in a single day using what they call tribe power. The company tapped into its army of social media followers for its annual One Day Without Shoes initiative to gather millions of Love Notes on social media. However, Toms U.K. marketing manager Sheela Thandasseri explained that their tribe’s Love Notes are not relegated to one day. “Our customers create social content all the time showing them gifting Toms or wearing them on their wedding day, and they tag us because they want us to be part of it.”2 Toms uses customer experience management platform Sprinklr to aggregate interactions on Facebook, Instagram, and Twitter. Toms then engages in a deep analysis of the data generated by its tribe, learning what customers relish and dislike about its products, stores, and salespeople so they can optimize their Complete Product Experience (CPE). That is an aggressive, all-in approach that extracts as much data as possible from every customer interaction in order to see patterns and craft experiences. Your approach might differ based on factors ranging from budget limitations to privacy concerns. But I can attest that earning love does not necessarily require cutting-edge technology or huge expenditures. What it does require is a commitment to delivering the building blocks of lovability that I reviewed in the previous chapter. Lovability begins with a mindset that makes it a priority. The building blocks are feelings — hope, confidence, fun. If you stack them up over and over again, eventually you will turn those feelings into a tower of meaningful benefits for everyone with a stake in your business, including owners, investors, employees, and customers. Now let’s look more closely at those benefits and the groups they affect.

had lived and worked in Marietta, Montana, long enough to grasp the importance of proper winter footwear. But today she needed the height and authority that came with heels. One didn’t tell one’s best friend and business partner—

Martin had lived and worked in Marietta, Montana, long enough to grasp the importance of proper winter footwear. But today she needed the height and authority that came with heels. One didn’t tell one’s best friend and business partner—the person responsible for Krista moving halfway across

reminded Hayes, not for the first time, that there’s no shoe school, no University of Footwear from which we could recruit. We needed to hire people with sharp minds, that was our priority, and accountants and lawyers had at least proved that they could master a difficult subject. And pass a big test. Most had also demonstrated basic competence. When you hired an accountant, you knew he or she could count. When you hired a lawyer, you knew he or she could talk. When you hired a marketing expert, or product developer, what did you know? Nothing. You couldn’t predict what he or she could do, or if he or she could do anything. And the typical business school graduate? He or she didn’t want to start out with a bag selling shoes. Plus, they all had zero experience, so you were simply rolling the dice based on how well they did in an interview. We didn’t have enough margin for error to roll the dice on anyone.

When we started Nalanda in 2007, there was a lot of buzz around a company called Eicher Motors led by a young, dynamic guy called Siddhartha Lal. Lal had inherited a hodgepodge of poor-quality businesses from his father in 2004. They manufactured motorcycles, footwear, garments, tractors, trucks, auto components, and a few other products, and none was an industry leader. In a remarkably bold strategic move, Lal decided to divest thirteen of the fifteen businesses to focus on just two products: trucks and motorcycles.30 Almost every analyst was gung ho about the future of Eicher; they were all taken in by its dynamic leader who was aggressively culling businesses, something that Indian firms rarely did. However, in 2007, this was a turnaround story with no empirical evidence of success. The company’s biggest hit, the Enfield Classic motorcycle, was launched only in 2010. We decided not to invest in the business. By the 2010s, the company’s motorcycles had taken on cult status in the Indian consumer’s mind. Sales exploded from just 52,000 units in 2009 to 822,000 units in 2019: a sixteen-fold growth. If you had listened to what we had to say about the business, you would not have invested. Your opportunity loss? Seventy times your money from 2007 until 2021. Tesla and Eicher Motors are the kinds of type II error we will inevitably commit because we reject highly indebted businesses, rapidly evolving industry landscapes, and turnarounds.