Redfoot – Goodwin Smith
PRODUCT(S) AND/OR SERVICE(S)
Redfoot Shoes Limited has developed a number of successful footwear products under its two brands Redfoot and Goodwin Smith. The number of shoes sold per annum has grown from 7,000 pairs in 2007, to over 114,500 already this year.
The Redfoot brand predominantly focuses on selling direct to trade and online retailers and strives to offer premium products, sourced direct from the factories at competitive prices, delivered quickly to the consumer, worldwide.
Goodwin Smith (introduced 2013) is a growing company within Redfoot Shoe’s portfolio: a men’s shoe brand targeted at the 20 – 45 age group. Goodwin Smith is growing, tapping into the booming UK male fashion market. Already supplied to over 153 stockists, including House of Fraser and AVOCA and working towards Debenhams in December 2015. The brand is making great advances in a number of overseas countries – via retail outlets and online.
From August 2015 Goodwin Smith will introduce a range of accessories and clothing for men and from September 2015, Goodwin Smith will introduce a range of ladies shoes.
Redfoot and Goodwin Smith brands are focused heavily on innovation and quality. We feel that buying direct from source allows a powerfully consumer – attractive proposition which enables highly competitive retail prices. Redfoot take on-trend, in-demand products and update them with an innovative twist.
Consumers’ shoe buying experience will be more influenced by social media because Redfoot and Goodwin Smith have a strong and growing social media presence. For example Redfoot has accumulated over 600,000 customer records. Goodwin Smith has 21,000 Twitter followers, 11,000 Instagram followers and 5,000 Facebook followers.
Both brands aim to create a bond with the consumer that will facilitate a wonderful and rewarding online / mobile buying experience.
SUBSTANTIAL ACCOMPLISHMENTS TO DATE
Redfoot has appeared in many national newspapers, fashion magazines, trade press, blogs and TV. Through past experience in the industry, the team is responsive to consumer footwear trends. Close customer relations are maintained & developed via social media, which have over 31K followers. Goodwin Smith is experiencing growth, tapping into the booming worldwide fashion market. The brand is already sold in over 153 stores and has a strong and quickly expanding presence online, mobile and on social media. Goodwin Smith is also making great strides overseas, where a number of growth opportunities are available. Redfoot turnover (includes Goodwin Smith) has grown from £146K in 2007 to £4m in 2014. Net profit has grown from £255K in 2013 to £332K in 2014. The Smiths also own the Bacup Shoe Holding Company which continues to be a supplier to many UK retailers.
USE OF PROCEEDS
Monies raised from the sale of equity will fund a social media marketing programme based on Redfoot and Goodwin Smith’s existing formula. This formula is a cost-effective method which focuses on targeted audience profiling based on demographics, including age, gender, and household income. We believe that this will increase brand awareness which in turn will generate greater sales and profit.
Investment will also assist the company’s working capital, supporting stock purchases and with increased volume, enable lower purchase prices, and increased profit. Product research and development is key to the long-term growth of Redfoot. As profit grows, more funding will be dedicated to R&D, which should further assist in the company’s success.We believe that this is an exciting opportunity to be part of a team with a proven track record.