WHOLESALER OF THE MONTH
Editor, Cheryl Taylor, talks to Michael Ridgway, Marketing Director, Laceys Footwear
Tell us about your background and company history? Laceys Footwear has been around since the early
eighties when the owner and MD David Jacobs moved out of retailing footwear into developing, importing and wholesaling footwear. There followed many successful years when the business operated as what might be called an ‘old fashioned wholesaler’ filling up vans with ‘winners’ in a way which doesn’t happen so much now. During the nineties the flow of passing business declined as retail practices changed (and council parking fees went up!). There followed a gradual move into a more forward order business, making to order and carrying stock in selected lines for general wholesaling. Although, interestingly, many customers are now
suggesting to us that a move back in the direction of ‘old fashioned wholesaling’ would be welcomed. The retailer’s resistance to forward ordering and their holding back budget for mid-season buying is driving a need for fast reacting businesses, such as ourselves, to spot trends as early as possible and hopefully provide a mid-season offering. Having excellent current and historical ties with
factories in Spain, Portugal and Italy we feel we are in a very strong position to fulfill such a demand. A few years ago we made the decision to seed in more and more lines in new collections which are manufactured in Europe rather than the Far East. The short lead times and capacity to make short orders only strengthens our position and whilst the price- point might be a little higher the quality and styling of the product quickly wins customers over.
What’s selling well? Right now it’s boots. We have a cracking little range
Paolo Vandini from a couple of formal styles into an innovative collection of men’s footwear, which contains an exciting range of shoes and boots. The range is renowned for the margin it offers to retailers, allowing a good 3 times markup. A couple of years ago we introduced a small range of Goodyear welted styles to the men’s collection on the capsule brand Paolo Vandini Handcrafted. It has rapidly grown into a successful range of handmade footwear at very competitive price points.
And, your customers? What sort of retailers do you supply? The typical retailer is so difficult to define! We have
Where are you based? We are based in Shoreditch East London
Tell us about your brands? Which are your best selling brands/ranges/lines and why? Laceys Footwear designs and develops ladies
footwear under our Laceys London brand which is renowned for its focus on fashion forward footwear lines. Focusing on trends and styling our Laceys London range offers great value for retailers and strong margins. We design and develop a hugely successful
comfort range under the Laceys KIT Original branding. Each year has seen the collection develop and expand in styles and colourways. Next year is no exception with three new versions already being booked in anticipation of the Spring season. We design and develop men’s footwear under our Paolo Vandini brand. Within a decade we have grown
20 • FOOTWEAR TODAY • OCTOBER 2011
so many different types of retailers. We supply into traditional footwear shops and at the same supply into high end boutiques who have found our collections sit comfortably and profitably with other more exclusive brands. Our main proviso is our determination to protect customers from competition by restricting the introduction of new accounts in areas where we already have a successful stockist. As the majority of our collections are so
competitively priced we are quickly picked up by a variety of retailing types and our sense of fashion forward adventure often makes our ranges very appealing to mixed retail outlets and boutiques.
How are you finding the footwear market currently? Like many in the trade we have to confirm that
times are tough. It really seems as if people are buying less shoes! At least this is the feedback we get from retailers, usually when we are asking them to commit to forward orders!! Confusingly we have some customers buying more than ever (what credit crunch they say?). However despite the mixed messages we feel in a very strong position. We have an excellent accounts base which we are growing year on year and by developing our flexibility and ability to react to market demand we feel we are well placed going forward.
How do you market your products? We market our product through the usual channels, taking ads in trade magazines and consumer magazines. We show the range by booking appointments through reps and agents. We are currently re-developing our whole website approach to include new media platforms, blogging and creating viral videos to promote the more edgy pieces in the collections. We are also developing our presence on social networking sites such as Twitter and Facebook and exploring how we can incorporate newsletter communications with customers to keep those interested abreast of developments. We also attend the trade fairs Moda in the UK and Micam and Riva in Milan and Garda respectively.
And, the next step? Any plans for the future, new lines, etc. That would be telling….but yes of course we have a
brand new ladies and men’s spring collections for 2012 which are currently being forward sold. If any of the readers want to know more, then we would be only too happy to arrange appointments, either in the Shoreditch showroom or via an agent in the shop.
Lacey's Footwear (Wholesale) Ltd. Tel: +44 (0) 20 7739 0398
of ladies boots which is strongly sold in and repeating. In fact we have already sold out of a number of lines which is fantastic. We have some excellent boots from a factory in Portugal, which are comfortable, stylish and have lovely soft uppers, and as the first signs of autumn begin to show not surprisingly they have started to ship out. Of course, coming from Portugal, should they really fly, then we could quickly make and ship repeats! We also have some great classically styled full leather riding boots in a rich burnished tan and black combination, which are striking a chord amongst retailers and consumers alike. The Paolo Vandini collection, which we have built up on the premise ‘if it sells well and repeats then it becomes core stock’, has at its heart a range of shoes and boots which retailers keep coming back for such is their proven commercial track record and woe betide us if we dared drop them! We know many of our men’s retailers are looking forward to our aviator fleece lined boots to coming back into stock. Our formal range is littered with winners and our Handcrafted Goodyear welts are terrific, cleated soles for the weather when it turns, and a fantastic brogue boot with fleece lining which looks set fair to be an autumn winner.
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