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NBA wife Warneshia Wallace's desire for shoes gets to be a business with style - Los Angeles business news Buying and selling shoes on the web is a hot business trend that promises growth with brands like XTC, London Trash, and Ziggi NY. Online shoe sales are hoped for to continue growing with an annual rate around 11.2 percent through 2018, based on a report from Ibisworld.com. Entrepreneur Warneshia Wallace has put into the mix with The Shoe Box, a small business that encompasses both an actual physical shoe store in Birmingham, Alabama with an edgy, online presence. I visited with Warneshia in Hollywood during a shoe party she held with celebrity stylist/designer Fallon Seaborn to generate new friends and start up the opening of her online store. She's the wife of NBA and Boston Celtics player Gerald Wallace and gained her business knowledge during six years serving the U.S. inside Air Force from 2001 to 2007. How have you decide to start a shoe-related business? I've had desire for shoes since I was a kid. Every time a new style became available, I had to possess them during my room and I didn't value the brand. Any shoe I liked, I got it. I retired through the Air Force and didn't want to work for anyone, so I desired to do something I love and I love shoes. How did the Air Force enable you to develop your company knowledge? I always desired to open a shoe store, and in the military I was taking advantage of the free schooling. I discovered business operations and management and I graduated in 4 years. I started The Shoe Box in 2013, I jumped in here and was hands-on and I've learned from mistakes on the way. How were the organization classes helpful and they are you likely to open an additional shoe store? Financially, it taught me to be learn about budgeting. I have a hard time budgeting therefore the advice solved the problem make decisions linked to marketing and other expenses. I'll give myself 2 to 5 years before I bust out and open another store. There's a lot to learn. It seems simple and easy to do but on the way if I stumble, I'll get back up. Who's your customer? The designs are sassy, edgy, as well as for women who love to step out of this area. I do have shoes for each age and style. Businesswomen and students will see something that they like as well as shoppers on the edgier side. A large amount of older women will walk within the store, consider the 6-inch spikes and say, 'I can't wear these heels.' I say, browse the flats. Where can you buy shoes and would you look at new designers? Fallon Seaborn is my own shopper and she or he investigates the brands. My advice to designers is I'm into everything. I don't just upgrade on myself and I'm ready to accept new designers. I try to find different styles that are unique and hard to acquire. Right now, shoppers should know about [industry] prices seem stable. Click here for the Shoebox Boutique styles and purchasers. |