JODIE FOX - SHOES OF PREY
ON BOUNCING BACK AFTER HER MULTI-MILLION DOLLAR BUSINESS WENT UNDER
In 2009, Jodie Fox built something that many of us can only dream of. A multi-million-dollar business, with stores in Australia and the US and a global customer base selling direct to consumer. She’s the co-founder of Shoes of Prey, a brand that allowed women to design their shoes in any colour, material, shape or size. She developed a global e-comm platform, opened award-winning stores, raised over $27M in funding and established her own factories in China. Mass on demand manufacturing was the blue-sky vision. Until it all went terribly wrong. While early signs of growth looked promising, Shoes of Prey was unable to achieve mass market adoption, and in 2016 the business went into liquidation.
lady-brains, this is a conversation not just about her “failures” but the value of failure, the lessons that have come out of her story, and the bravery she’s shown in sharing her experience. It’s a great conversation for all of us to partake in. Right now, around the world, lots of us a failing, through no fault of our own, but as a result of the circumstances of our current climate. We hope this conversation brings you some comfort and encourages you to be brave and to share your wins, your losses and everything in between. Most importantly, don’t forget to back yourself.
In this chat you’ll learn:
Why Jodie thinks the business failed, and what she would do differently if she had her time again
How her identity was wrapped up in being an entrepreneur, and what this meant for her after Shoes of Prey closed its doors
The challenges with the mass on-demand manufacturing business model
How she raised over $27 million in funding to scale the business globally
The importance of being curious and doing your research when building a business
To access our lady-brains Decision Making Framework that we reference in this episode, head to www.ladybrains.com.au/makethecall
THE BITS YOU DON’T WANT TO MISS
“When I experienced the closure of the business, I lost everything. I had put all I had into Shoes of Prey, and I had nothing left. ”
“The vast majority of people we pitched to were men, and the vast majority of their assistants were women.”
“The % of venture backed businesses that fail is over 50%. It’s not uncommon. Let’s shed some of the natural shame that comes up when we’re talking about our failures! ”
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