Business News https://footwearnews.com Shoe News and Fashion Trends Fri, 06 Dec 2024 23:24:53 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://footwearnews.com/wp-content/uploads/2023/05/cropped-FN-Favicon-2023-05-31.png?w=32 Business News https://footwearnews.com 32 32 178921128 Rihanna and A$AP Rocky Give Back to Boys and Girls Club of Harlem With Puma [PHOTOS] https://footwearnews.com/gallery/asap-rocky-rihanna-puma-boys-and-girls-club-of-harlem-photos/ https://footwearnews.com/gallery/asap-rocky-rihanna-puma-boys-and-girls-club-of-harlem-photos/#respond Fri, 06 Dec 2024 23:22:55 +0000 https://footwearnews.com/?post_type=pmc-gallery&p=1234740098 Rihanna and A$AP Rocky were among the Puma ambassadors who distributed sneakers, apparel, accessories and more products from the brand to over 200 members of the Boys & Girls Club of Harlem on Dec. 5.

A$AP Rocky, who took home the Collaboration of the Year award with Puma at the Footwear News Achievement Awards the day before, is a native of Harlem. He and his parter gave back to his hometown in laidback, chic outfits. Rihanna wore a sweatshirt-dress with knit boots while A$AP rocked Puma sneakers with blue jeans and a leather jacket over a sweatshirt. Also at the Boys & Girls Club of Harlem were Dapper Dan, Danielle Guizio, Colm Dillane and Emory Jones.

Jones introduced A$AP Rocky before he accepted his award at the FNAAs on Wednesday. Rocky took home his FNAA on Wednesday eight years after Rihanna won the Shoe of the Year award in 2016 for the Fenty Puma Creeper.

“Honestly, this is just like one of the best accomplishments ever,” he said in his acceptance speech at the awards show held on Dec. 4 at Cipriani South Street. “You know, I was inspired. I saw my lady receive this thing almost a decade ago. Like she inspires me a lot.”

He continued, “But besides that, you know, the thought of me being with Puma and making collaborations is a gift. I mean, I didn’t even think that was really possible. And look at us now, you know what I’m saying? It was always just like, it just felt like it was something missing in the market. And it was me, I was missing.”

 

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Shoe Brands at FFANY and FSNYE Highlight Strong Demand As They Navigate Potential Tariff Challenges https://footwearnews.com/business/business-news/ffany-market-week-december-2024-tariffs-1234739722/ https://footwearnews.com/business/business-news/ffany-market-week-december-2024-tariffs-1234739722/#respond Fri, 06 Dec 2024 21:27:35 +0000 https://footwearnews.com/?p=1234739722


Despite the looming threat of new tariffs on footwear imports to the U.S., the atmosphere was upbeat among retailers and brands during footwear market week in New York City.

At FFANY, the turnout was strong, with buyers from Rack Room Shoes, Nordstrom, Target, Walmart, Kohl’s, Zappos, Von Maur and more all attending the show to meet with brands.

“Retailers were coming in from all over the country, whether it was boutique retailers, specialty retailers, department stores or big chains from different categories,” said Sandi Mines, vice president of corporate engagement at Footwear Distributors and Retailers of America (FDRA) and FFANY. “It was really packed.”

Over at Footwear Show New York Expo (FSNYE) at the Park Lane New York, president Phyllis Rein was upbeat. “The show delivered 70 well-known brands and new inspiring designers, which was an increase of 20 percent this year,” she noted. “The takeaway from the show was ‘shoes aren’t just functional, they’re a powerful tool for self-expression and motivation.'”

Tariff Talk

Overall, Mines described the sentiment across the industry as “cautiously optimistic,” though many companies are mulling how potential new tariffs on foreign imports could impact the footwear industry. Ninety-nine percent of the shoes sold in the United States are imported from primarily China, Vietnam and Indonesia, regions that could be subject to potential tariff changes under President-elect Donald Trump.

The threat of new tariffs on foreign imports could have a major impact on Toms, which does 80 percent of its production in China and 20 percent in Vietnam.

“The tariff talk around China in particular and trading partners at large is top of mind,” said Jared Fix, who joined Toms as chief executive officer in July. “We have world class manufacturing partners who are committed to this brand. So if we need to have an ex-China manufacturing strategy, we can do that.”

Baby shoe brand Robeez, which returned to FFANY in June after several years, manufactures most of its shoes in China. Jennie Leone, the brand’s director of sales, said that tariff changes would likely prompt an increase in retail prices as margins become more slim.

“The buyers I’ve spoken to understand that it’s probably going to be across the board, but unfortunately, the consumer is probably going to end up paying for it at the end of the day,” Leone said about tariffs. “We’re going to do our best to keep our price points where we can. At the end of the day, if you have a good product, that’s what matters.”

Western Chief, the Washington Shoe Company owned outdoor brand, operates all of its manufacturing and production out of China, which makes it vulnerable to potential tariff restrictions in the region. According to creative director Sara Kimball, the brand is actively seeking out potential new partners in Vietnam, the Dominican Republic and Brazil.

“I think we’re really just waiting to see where the tariffs are gonna land before we commit on which country,” Kimball said.

Journee, which has recently expanded from boots and dress into some more casual styles, is also exploring back-up options with several of its factory partners. The brand mainly manufactures in China, but noted that many of its partners have sister factories in different locations.

“I always like sourcing and keeping all my eggs spread out anyway, so I feel like there’ll be some of that,” said Marisa Byrne, brand president of the KNS International-owned Journee. “And it’s a mixture of just being proactive about how we’re comping out.”

Tariffs aside, Byrne noted that Journee is seeing demand for more transitional styles that can be worn on more than one occasion. “Versatility seems to be one of the biggest comments that I’ve heard across all of accounts,” said Byrne. “Where can she get the most value, the most bang for her buck, but also have several instances that she can actually wear that item?”

For brands that manufacture in Europe, tariffs were less of a concern.

“We don’t have the issues that many other contemporary brands do — actually, the bulk of the market,” said Nancy Nicolas, head of sales for Free People Footwear. “Because we don’t produce in China. All of our production is done out of Italy, Spain, Portugal and India.”

Nicolas added that demand from buyers is definitely picking up. “I think in this moment, everybody’s feeling bullish about the future,” said Nicolas said. “I think we’re past that cycle of uncertainty with elections. That’s over and done with.”



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Donna Karan Presents Kenneth Cole With Prestigious Lifetime Achievement Award at FNAA 2024 https://footwearnews.com/business/business-news/donna-karan-kenneth-cole-lifetime-achievement-award-fnaa-2024-1234739972/ https://footwearnews.com/business/business-news/donna-karan-kenneth-cole-lifetime-achievement-award-fnaa-2024-1234739972/#respond Fri, 06 Dec 2024 20:46:07 +0000 https://footwearnews.com/?p=1234739972


“This man is probably the most extraordinary man I’ve ever met,” Donna Karan gushed over Kenneth Cole onstage at the 2024 FN Achievement Awards. The legendary designer presented Cole with the Lifetime Achievement Award on Wednesday night in New York.

“You’ve been ahead of the curve your whole life, in every aspect of your life, in the way you create, collaborate and communicate to sheer perfection,” she continued. “You call, we come.”

Karan and Cole have worked together, not only in fashion, but through their philanthropic efforts through the years. In 2019, the two were honored as the Icon Award for Social Impact winners at the FN Achievement Awards for their mission to help support the country of Haiti.

But that’s just one of Cole’s many humanitarian and charitable works. For more than four decades, the designer has been committed to using his platform to support a range of social justice movements, including HIV/AIDS awareness, gun control, climate change and, most recently, ending mental health stigmas.

“I have always believed that fashion is more than how we present ourselves in the world, but also a vehicle to positively impact it, and a powerful and creative way to respectfully communicate our commonality as well as our differences,” he said while accepting the award. “My story is the story of an American designer slash Shoe Dog — (and I hate that term, but as they say, if the shoe fits) — who uses the platform he has to make the difference that he can. It has taught me today that this is absolutely not a dress rehearsal, and that what we stand for will always matter more than what we stand in.”

For 38 years, the annual FN Achievement Awards — often called the “Shoe Oscars” — have celebrated the style stars, best brand stories, ardent philanthropists, emerging talents and industry veterans. The 2024 event is supported by sponsors Listrak, Marc Fisher, Nordstrom and Vibram. 



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Reebok Lays Off Employees Amid Footwear Restructure, Licensing Shift https://footwearnews.com/business/business-news/reebok-lays-off-employees-footwear-restructure-1234739789/ https://footwearnews.com/business/business-news/reebok-lays-off-employees-footwear-restructure-1234739789/#respond Fri, 06 Dec 2024 17:22:04 +0000 https://footwearnews.com/?p=1234739789


The company behind Reebok’s operations is laying off employees in the brand’s footwear business as it reworks the licensing strategy for the brand.

Authentic confirmed to FN that SPARC group, the lifestyle brand operator that operates Reebok through a license with the parent company, has reorganized Reebok’s footwear business as it looks to transfer licenses to new partners and focus more deeply on apparel. Authentic did not confirm which specific footwear divisions were impacted by the cuts, but employees in merchandising, design, product management, talent acquisition and innovation shared on LinkedIn this week that their roles had been eliminated to to a restructuring at Reebok.

The news represents the latest turmoil to plague the heritage brand this year. Earlier this month, Authentic terminated its license with New Guards Group (NGG), a division of Farfetch, to distribute Reebok footwear and apparel in Europe. Under the terms of the former deal, NGG had operated the European operations of Reebok’s branded retail stores and e-commerce, and worked to drive wholesale distribution for the label. 

When Authentic acquired Reebok in 2022, chief executive officer Jamie Salter outlined a goal for the brand to hit $10 billion in annual retail sales globally by the next five years. Authentic also planned to grow Reebok’s digital business, as well as lean into the footwear and apparel designs that have made Reebok unique. Shortly after the deal closed, the company announced multiple plans for licensing and distributing Reebok across the globe. At the time, Reebok laid off 150 employees, most of whom were based in Boston.

Kerby Jean-Raymond also left his role as global creative director of Reebok in March of 2022.



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All the Moments You Didn’t See Inside the FNAA 2024 [PHOTOS] https://footwearnews.com/gallery/inside-the-fnaa-2024-photos/ https://footwearnews.com/gallery/inside-the-fnaa-2024-photos/#respond Thu, 05 Dec 2024 23:04:03 +0000 https://footwearnews.com/?post_type=pmc-gallery&p=1234738508 The FNAAs are the biggest night of the year for shoe lovers. While much of the attention goes toward big red carpet moments during award shoes, things really heat up behind the scenes inside the venue once the ceremony starts, and the Footwear News Achievement Awards 2024 were no exception.

The awards ceremony took place at Cipriani South Street on Dec. 4, in New York City and the biggest and most important names in the shoe industry were present to honor this year’s honorees which included Martha Stewart, A$AP Rocky, Kenneth Cole, New Balance and more.

For 38 years, the annual FN Achievement Awards — often called the “Shoe Oscars” — have celebrated the style stars, best brand stories, ardent philanthropists, emerging talents and industry veterans. The 2024 event is supported by sponsors Listrak, Marc Fisher, Nordstrom and Vibram.

There were some emotional moments from presenters, touching speeches from the honorees, the famous guest mingling and more fun surprises like Rihanna making her way to the stage. Take a look at some of the behind the scenes moments you may have missed and as the stars mingled and celebrated one another at FN’s annual event.

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Words to Live By from 2024 FNAA Hall of Fame Honorees: Tacey Powers, Dave Powers and Susan Itzkowitz https://footwearnews.com/business/business-news/memorable-quotes-hall-of-fame-honorees-fnaa-2024-1234739724/ https://footwearnews.com/business/business-news/memorable-quotes-hall-of-fame-honorees-fnaa-2024-1234739724/#respond Thu, 05 Dec 2024 21:52:14 +0000 https://footwearnews.com/?p=1234739724


Susan Itzkowitz, Dave Powers and Tacey Powers were inducted into the FN Hall of Fame at the 2024 FNAAs on Wednesday night.

The three exceptional leaders took the stage to reflect on their storied careers and thank those who helped them on their path to hall of fame status in the footwear industry.

In 2004, Susan Itzkowitz partnered with Marc Fisher to launch a new shoe venture, which has grown into a powerful player in the fashion footwear business, encompassing 14 brands, including licensed collections for Calvin Klein, Guess, Tommy Hilfiger, Hunter and others. And as a longtime board member for Two Ten Footwear Foundation, she has spearheaded efforts to increase representation and opportunities for women in the industry.  

“I overcame barriers I hadn’t even known existed, such as becoming one of the first women to hold senior roles in several male dominated companies,” Itzkowitz said. “It wasn’t always easy, and honestly, some of the toughest challenges came from other women. But their ruthless approach to leadership taught me a powerful lesson: women in business wield extraordinary strength when they lead with a balance of power and kindness, and embrace collaboration.”

Dave Powers made news this year as he announced he’d step down as chief executive officer of Deckers Brands in August, capping off an incredible 12-year run with the company. He joined Deckers as president of direct-to-consumer in August 2012, rising through the ranks to become CEO in 2016. Under his tenure, Deckers experienced explosive growth, led by its Ugg and Hoka businesses. For its last fiscal year, the company scored $4.3 billion in sales.

“It’s a tough world these days, and we’re grateful to have this opportunity to be with you all tonight and celebrate all of you,” Dave Powers noted. “I also want you to know it’s not lost on me how surreal this is for me. I mean, I grew up in a small, blue-collar town in New Hampshire, which actually at one point, was known for its shoe industry… But, I will leave you with a few words that is a motto that we use a lot at Deckers which is, ‘Stay hungry, stay humble and be kind.’ And that formula works every day.”

And for Tacey Powers, she joined Nordstrom in 1981, starting on the sales floor and working her way up to the executive level, where she now serves as executive vice president and general merchandise manager for shoes. In addition to overseeing the retailer’s stores in the U.S., she also has been committed to mentorship and giving back to the industry as a board member for Two Ten Footwear Foundation and Footwear Retailers and Distributors of America.

“To the Nordstrom family: I am grateful to have been part of your organization for over 40 years,” Tacey Powers said. And to my Nordstrom team: I work with a group of amazing people who bring joy and their special talent to work every day. I believe we have some of the best merchants in the business… I feel truly best blessed to sit in one of the greatest seats in the industry, and I will never take that for granted.”

For 38 years, the annual FN Achievement Awards — often called the “Shoe Oscars” — have celebrated the style stars, best brand stories, ardent philanthropists, emerging talents and industry veterans. The 2024 event is supported by sponsors Listrak, Marc Fisher, Nordstrom and Vibram.



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Sara Blakely’s Daughter Tepper Steals the Show as She Accepts Launch of the Year Award for Sneex at 2024 FNAAs, Fan-Girls Over Rihanna https://footwearnews.com/business/business-news/sara-blakely-daughter-tepper-itzler-accepts-launch-of-the-year-award-fnaa-2024-1234738758/ https://footwearnews.com/business/business-news/sara-blakely-daughter-tepper-itzler-accepts-launch-of-the-year-award-fnaa-2024-1234738758/#respond Thu, 05 Dec 2024 18:44:01 +0000 https://footwearnews.com/?p=1234738758


Hi, Rihanna,” Tepper Itzler said as she accepted the Launch of the Year award on behalf of her mother Sneex founder Sara Blakely at the 2024 FNAAs on Wednesday night.

Indeed, the 8-year-old daughter of Blakely, who was joined on stage by Amy Griffin, stole the show at Cipriani South Street as the crowd of nearly 400 guests cheered her on during the speech.

“I’m accepting this award on behalf of my mom,” Itzler said. “She is in Dubai. I’m a little nervous because I have never given an acceptance speech before, but my mom always says, ‘With hard work, anything is possible.’ I think Sneex is amazing. As you can see, I’m wearing my mom’s Sneex from her closet right now.”

The adorable moment continued with some fun facts about Blakely. “Some things you all don’t know about my mom are, number one, that she’s a great back scratcher, number two, she makes amazing pancakes on Sunday, and number three, she makes great Sneex,” Itzler said.

This isn’t Blakely’s first time in the rodeo. The entrepreneur is most well known as the founder of the Spanx intimates’ brand, which launched in 2000 and was built it into a market leader valued at $1.2 billion as of 2021, when Blackstone acquired a majority stake.

NEW YORK, NEW YORK - DECEMBER 04: Tepper Itzler attends Footwear News Achievement Awards (FNAAs) 2024 at Cipriani South Street on December 04, 2024 in New York City.  (Photo by Roy Rochlin/Footwear News via Getty Images)
Tepper Itzler

Now, the entrepreneur is leveraging the power of online platforms to bolster her new Sneex luxury shoe brand, which began selling direct to consumer in August. And it’s certainly gained attention, landing on Oprah’s Favorite Things list for the holidays and garnering celebrity fans that include Gayle King, Jane Fonda, Reese Witherspoon and Hoda Kotb.

With Sneex, Blakely has introduced a new footwear silhouette she’s dubbed a “hy-heel” that merges an athletic sneaker with a stiletto. The collection — which is made in Spain with luxurious nappa leather and Italian mesh — so far consists of three styles retailing for $395 to $595.

For 38 years, the annual FN Achievement Awards — often called the “Shoe Oscars” — have celebrated the style stars, best brand stories, ardent philanthropists, emerging talents and industry veterans. The 2024 event is supported by sponsors Listrak, Marc Fisher, Nordstrom and Vibram.



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JD Sports CEO Says Nike Is the Chain’s ‘No. 1 Partner in the World’ While Accepting FNAA for Retailer of the Year https://footwearnews.com/business/business-news/jd-sports-fnaa-2024-nike-retailer-of-the-year-1234738505/ https://footwearnews.com/business/business-news/jd-sports-fnaa-2024-nike-retailer-of-the-year-1234738505/#respond Thu, 05 Dec 2024 18:41:18 +0000 https://footwearnews.com/?p=1234738505


JD Sports’ chief executive officer Régis Schultz gave a special shoutout to Nike when accepting the award for retailer of the year at the 2024 FNAAs on Wednesday evening.

“Nike is our number one partner in the world,” Schultz said, accepting the award that was presented by Jason Kirrer, Nike’s vice president of North America sales and marketplace.

Since entering the U.S. market in 2018 with the acquisition of Finish Line, the European retailer had made several efforts to leverage its relationships with key brands (like Nike) for North America-specific benefits. In August, JD said it had extended its retail partnership with Nike to offer the Nike Connected Membership program to its U.S. customers. With this expansion, JD’s U.S. customers were given access to select Nike member-only footwear and apparel when they opt to link their JD Status and Nike Membership accounts through the retailer’s website or mobile app. As of October, there were 5.1 million active members of the JD Status loyalty program in the U.S.

“Nike is a significant part of our business and a great brand partner,” John Hall, president and managing director of JD North America, told FN in an interview in November. “This was a way in which we could strengthen our partnership and increase our level of connectivity with our shared customers.”

Nike aside, JD takes pride in its broad assortment of footwear and apparel brands in its stores. Schultz was sure to to thank the retailer’s other key partners, many of whom were in the room that night, when accepting the award.

“I would like to thank the brands,” Schultz said. “We are a house of brands. We love brands. We want to serve you for the best purposes. We want to give you the access to our customers. That’s what we do for a living. We are passionate about giving the best experience to our customers [and being] the best translation of what you want to be for your customers.”

Schultz noted that JD Sports’ presence in the U.S is now at 2,500 stores, which includes 1,179 Hibbett stores that were added to its portfolio after its buzzy acquisition in July. He also said JD Sports will do $6 billion in sales in the U.S. in 2024.

“We will make more than $1 million profit and will invest most of this cash in new doors, in better propositions and in better stores,” Schultz said. “We love this industry and we are very proud to be here in the U.S. for you.”

For 38 years, the annual FN Achievement Awards — often called the “Shoe Oscars” — have celebrated the style stars, best brand stories, ardent philanthropists, emerging talents and industry veterans. The 2024 event is supported by sponsors Listrak, Marc Fisher, Nordstrom and Vibram. 



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https://footwearnews.com/business/business-news/jd-sports-fnaa-2024-nike-retailer-of-the-year-1234738505/feed/ 0 1234738505 Footwear News Achievement Awards (FNAAs) 2024 - Inside
All the Photos From FN’s Portrait Studio at the FNAA 2024 https://footwearnews.com/gallery/fns-portrait-studio-fnaa-2024/ https://footwearnews.com/gallery/fns-portrait-studio-fnaa-2024/#respond Thu, 05 Dec 2024 17:12:36 +0000 https://footwearnews.com/?post_type=pmc-gallery&p=1234738503 The Footwear News Achievement Awards (FNAA), also known as the “Shoe Oscars,” recently celebrated its 38th anniversary. This annual event honors the most influential figures in the footwear industry, recognizing style icons, brand innovators, philanthropists, and both emerging and established talents.

The 2024 awards ceremony, held in New York City on December 4th, brought together a diverse mix of celebrities and industry leaders. Notable honorees included Adidas CEO Bjørn Gulden, who was named Person of the Year, and designer Kenneth Cole, who received the Lifetime Achievement Award. The event also recognized the achievements of A$AP Rocky, in partnership with Puma, for Collaboration of the Year, and celebrated the influence of rising style icon Angel Reese.

Other notable awards included Retailer of the Year, which was awarded to JD Sports, and the Emerging Talent Award, presented to Philéo Landowski. Skechers was also recognized for its social impact, receiving the Icon Award for Social Impact. The FNAA’s continue to showcase a wide range of accomplishments within the footwear industry, highlighting not only individual and corporate success but also significant contributions to society.

The 2024 FNAA was a vision of who’s who of Hollywood, fashion, and footwear. The star-studded list included Rihanna, Nicky Hilton Rothschild, and Martha Stewart. These portrait shots show a little of the magic of the evening.

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Marina and Ricardo Larroudé Emphasize Caring for Employees, Uplifting Designers and Vertical Integration in Brand of the Year Acceptance Speech at the FNAA 2024 https://footwearnews.com/business/business-news/larroude-brand-of-the-year-speech-fnaa-2024-1234738479/ https://footwearnews.com/business/business-news/larroude-brand-of-the-year-speech-fnaa-2024-1234738479/#respond Thu, 05 Dec 2024 16:07:27 +0000 https://footwearnews.com/?p=1234738479


Husband-and-wife duo Marina and Ricardo Larroudé, founders of their namesake women’s footwear company Larroudé, accepted the award for Brand of the Year at the 38th annual Footwear News Achievement Awards, held at Cipriani South Street in New York City on Dec. 4.

NEW YORK, NEW YORK - DECEMBER 04: (L-R) Marina Larroudé and Ricardo Larroudé attend Footwear News Achievement Awards (FNAAs) 2024 at Cipriani South Street on December 04, 2024 in New York City.  (Photo by Craig Barritt/Footwear News via Getty Images)
Marina Larroudé and Ricardo Larroudé attend Footwear News Achievement Awards (FNAAs) 2024 at Cipriani South Street on December 04, 2024 in New York City. (Photo by Craig Barritt/Footwear News via Getty Images)

Larroudé was one of two recipients of the Brand of the Year award, with the other going to On. Larroudé has experienced a meteoric rise since its debut in 2020, when the company received the Launch of the Year award at the FNAAs. This year, model Emily DiDonato, an avowed Larroudé fan, was on hand to present the couple with their latest honor.

Taking the stage with her husband, Marina began her speech, “What an incredible honor to accept the Brand of the Year award alongside On Running. This is really major, and I cannot believe we have been in business for only four years and this is our second award.”

The fashion veteran went on to acknowledge the other talent in room and the impact they’ve had on her: “Congratulations to tonight’s honorees, Jesse [Itzler] and Tepper please tell Sara [Blakely] that I’m a huge fan of hers and her innovation and boldness is really inspiring. Martha Stewart, you are my forever icon. Edgardo [Osorio], I remember seeing your first collection…and I knew then that you were destined for greatness. And watching your success has been truly inspiring to me.”

NEW YORK, NEW YORK - DECEMBER 04: (L-R) Emily DiDonato, Marina Larroudé and Ricardo Larroudé attend Footwear News Achievement Awards (FNAAs) 2024 at Cipriani South Street on December 04, 2024 in New York City.  (Photo by Craig Barritt/Footwear News via Getty Images)
Emily DiDonato, Marina Larroudé and Ricardo Larroudé attend Footwear News Achievement Awards (FNAAs) 2024 at Cipriani South Street on December 04, 2024 in New York City.

Blakely received the Launch of the Year award for Sneex; Stewart was given the Icon Award; and Osorio of Aquazzura was the recipient of the Designer of the Year award.

Recalling the inception of Larroudé at the couple’s dining room table, Marina concluded her speech by expressing gratitude to her husband: “This would not be possible without the vision and drive and love and support of Ricardo, our CEO, who is my business partner, our CEO and my partner in life. I’m forever grateful to share this journey with you.”

Ricardo then made his own remarks, taking the opportunity to emphasize the importance of vertical integration, uplifting creative designers and taking care of employees. “From the moment we started, we vertically integrated the business,” he said. He mentioned they have two factories, with 200 people employed in Brazil, and stock options are offered to successful employees.

He continued, “We also welcome other designers to create for us. So today we have at our table [TKname], Jonathan Cohen who’s doing shoes for Markarian. And the idea is that we try to replicate what happened in the music industry. That albums and Virgin Records would create a place for these creatives to come together, do what they focus on and not have to worry about lawyers, marketing, distribution, cost, all of that. And they have a whole platform to take care of it.”

He neared the end of his speech with a call to action: “I want to celebrate that there’s a way to do things differently. Most startups in the fashion industry, they outsource the production. There is a way to do shoes yourself. Birkenstock does 100% of what they do in Germany, Prada has 20 factories that they manage. And if you do that, you can actually take care of the people that are actually doing the shoes for you. So if you want to be sustainable, if you want to think about ESG, take care of the people that are really making the shoes.”

For 38 years, the annual FN Achievement Awards — often called the “Shoe Oscars” — have celebrated the style stars, best brand stories, ardent philanthropists, emerging talents and industry veterans. The 2024 event is supported by sponsors Listrak, Marc Fisher, Nordstrom and Vibram.



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https://footwearnews.com/business/business-news/larroude-brand-of-the-year-speech-fnaa-2024-1234738479/feed/ 0 1234738479 Ricardo-and-Marina-Larroude-1 NEW YORK, NEW YORK - DECEMBER 04: (L-R) Marina Larroudé and Ricardo Larroudé attend Footwear News Achievement Awards (FNAAs) 2024 at Cipriani South Street on December 04, 2024 in New York City. (Photo by Craig Barritt/Footwear News via Getty Images) NEW YORK, NEW YORK - DECEMBER 04: (L-R) Emily DiDonato, Marina Larroudé and Ricardo Larroudé attend Footwear News Achievement Awards (FNAAs) 2024 at Cipriani South Street on December 04, 2024 in New York City. (Photo by Craig Barritt/Footwear News via Getty Images)