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Online shoe retailer hits major milestone

Styletread-shoes-online-retailOnline shoe retailer, Styletread, has hit $100 million in revenue this month, representing a milestone for the brand since launching in 2010.

The company has seen solid growth since being bought by the Munro family in 2013 with $23 million in turnover in the last financial year.

Styletread managing director Lee Munro, 34, said the achievement showed the company’s ability to adapt to the changing retail market and motivated them to continue to ‘hero Australian brands’ and good-quality shoes.

“This is proof that we are on the right track to keep growing and to reach our next big goal, which is to take the Styletread offering international. We want to take Australian brands to the international stage,” he said.

Regarding Amazon’s looming entry to the Australian market, Munro said they were looking forward it.

“We are looking to partner with Amazon and list more local brands online. It presents a real opportunity for us to expand,” he said.

“With the growth of online retailers, customers have more reach, they are more aware of what’s on offer and they are more susceptible to influence. They see the latest celebrity trend and look to buy it online,” he said.

“Luckily, we have a fantastic buying team that is able to stay on top of these trends while also looking out for added value, such as fit and comfort.”

He said strong demand for brands such as Birkenstocks and Django and Juliette, had helped nudge the team over the $100 million mark.

“Over summer, we just couldn’t keep the Birkenstocks on the shelf. For a two-century-old brand, it’s great to see its comeback,” he said.

“We also saw a lot of demand for rose gold shoes, which is a fashion trend I have never seen before.”

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