The new chief executive of Start-rite shoes has revealed bold plans to update the historic brand and bring it into a new era.
Ian Watson – the company's first boss to be appointed from outside the founding family – said his first challenges will include narrowing the focus of the product range, navigating rock-bottom exchange rates, and revamping the firm's Norwich base.
'We really want to have fewer styles but stronger styles that sell in higher volumes,' said Mr Watson, who joined the business earlier this year when former executive chairman Peter Lamble stepped down.
'The brand is going to be updated but not step too far away from its core.'
Start-rite, which was founded 224 years ago, has built a reputation for quality school shoes, which was where Mr Watson said the business would continue to focus.
But it needed a revamp, he added, which involved immediately upgrading its Norwich outlet shop and extending the opening hours past 3.45pm so parents could bring their children after school. 'It was bonkers before,' he added.
Knocking through the walls at Start-rite's Broadland Business Park base to create an open-plan work environment is also part of his plan, to make the building more 'fun and child-friendly'.
But it is the range of shoes where Mr Watson wants to make his mark, with a greater focus on Start-rite's expertise in children's development and designing shoes children want to wear.
He said: 'We are the guys that understand children the best.
'Durability is of critical importance to mum and dad. They want to buy something they know lasts.'
The new strategy follows the sale of Start-rite's retail offering, One Small Step, in February this year.
It came after a disappointing development in 2014 which saw Harrods decide not to renew its One Small Step concession.
But selling the retail brand means Start-rite no longer needs a range broad enough to fill a shop, and can focus on its best sellers, said Mr Watson.
'When faced with a wall of 11 different boys' school shoes, potentially you make decision-making more complicated than it needs to be.
'We don't need to fill stores. Our retailers are happiest when we develop a range of products that sell.
'We are a small company so we need to make sure the products we are making are economical in terms of their minimum manufacturing runs.'
And strengthening Start-rite's design team was key to this, he said.
'The children's market is evolving at pace. Children are having a bigger say in purchase decisions than they have had, and at a younger age.
'Sports brands are increasing their focus in this area. Therefore we need to make sure our brand is still as relevant in 2016 as it was 20, 30 or 40 years ago.'
Mr Watson comes from a background of running private equity-owned brands in Germany. His three-year strategic plan for Start-rite is awaiting board approval, and will begin to take hold from September.
'The family have been incredibly supportive,' he said. 'It's about evolution rather than revolution. We don't want to throw everything away: we have got 224 years of history we are trying to build on. We want to build the next chapter rather than rewrite the book.'
Part of the strategy includes marketing its range of school shoes internationally, with Dubai, Singapore and areas with a large ex-pat community particular targets.
However the biggest challenge facing the business is the devaluation of the pound against international currencies following Britain's decision to exit the European Union, said Mr Watson.
'It has had a massive impact so far,' he added. 'We buy predominantly in US dollars, which pre-Brexit was up to $1.50 to the pound.
'With the state of retail as it is today there will be no choice but to pass it on to consumers. A lot of major retailers have already said that.'
Start-rite's parent company, James Southall and Company, saw turnover inch up 1.3% to £24.4m in 2014, up from £24.1m the year before, for the year ending December 27, 2014. Pre-tax profits fell from £841,000 in 2013 to £635,000 over the same period.
But following the sale of One Small Step, Mr Watson said turnover was likely to be at about £20m this year.
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