Shoes of Prey is of course the famous startup that began as an exclusively online store wherein customers are allowed to design their own shoes. It didn’t take that long for the Sydney-based shoe maker to find success, thus it expanded by building brick-and-mortar stores. Now that it has established dominance in its home country, Shoes of Prey now has its sight set on the United States.
Shoes of Prey was able to set up shop in the U.S. thanks to a US$5.5 million venture capital injection and partnership with U.S. fashion retailer Nordstrom. It was last June when the company started laying the ground work for its stateside operations, but it was only last month when it was able to settle in its new headquarters in Los Angeles. Now, it’s actually not the best time for Shoes of Prey to make its move to the U.S. due to the plummeting Australian dollar, but the risk has already paid off since Shoes of Prey’s sales have already increased by 119% in the past year according to CEO and co-founder Michael Fox. “The cost is definitely a challenge, with where the Australian dollar is now. We’d be spending a lot less money if we were in Australia. But it’s all worth it for the access to customers, market and investors it gives,” says Fox.
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