There was a sense of excitement in the air this last market under the Fashion Footwear Association of New York (FFANY).
Many brands were able to showcase their product in person after several seasons of virtual connections. The big takeaway from this market was how companies are dealing with the current industry wide challenges that include the global supply chain and record high inflation in our current economy. Andrew Tastad, EVP and GM of Frye stated that the supply chain issue hasn’t affected their brand due to production outside of China/Vietnam. Additionally, moving their footwear business to licensed partner, Footwear Unlimited, has allowed them to lower prices and be more competitive within their market. Jodie Johnson, EVP of Baretraps has seen the effects of COVID-19 restrictions hit their business from production, to shutdowns and supplier issues. They are keeping up with the demand of their product and have decided to increase the prices of their shoes by $5 to keep the integrity of their brand for consumer satisfaction. Nathaniel Yeak, Director of Sales Operations at Toms, has dealt with strong product delays caused by the global supply chain. To curve this issue, they have strategically produced goods earlier than normal so that they hit floors of the stores earlier than anticipated.
By: Shoshy Ciment, Footwearnews.com
https://footwearnews.com/2022/business/retail/frye-baretraps-toms-ffany-fsnye-1203296792/