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NBA wife Warneshia Wallace's adoration for shoes turns into 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 anticipated to continue growing at an annual rate of about 11.2 percent through 2018, according to a report from Ibisworld.com. Entrepreneur Warneshia Wallace has added to the mix with The Shoe Box, an enterprise that encompasses both an actual physical shoe store in Birmingham, Alabama with an edgy, online presence. I visited with Warneshia in Hollywood throughout a shoe party she held with celebrity stylist/designer Fallon Seaborn to generate new friends and start up the opening of her web 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. in the Air Force from 2001 to 2007. How did you decide to begin a shoe-related business? I've had passion for shoes since I would have been a kid. Every time a new style became available, I had to own them within my room and I didn't care about the brand. Any shoe I liked, I got it. I retired from your Air Force and didn't desire to work for anyone, so I wished to do something I love and I love shoes. How did the Air Force enable you to develop your small business knowledge? I always desired to open a shoe store, along with the military I was using 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 in the process. How were the organization classes helpful and therefore are you likely to open an additional shoe store? Financially, it reduced the problem learn about budgeting. I have a hard time budgeting so the advice taught me to be make decisions linked to marketing along with other expenses. I'll give myself 2 to 5 years before I get away and open another store. There's a lot to master. It seems quick 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, and then for women who prefer to step out of the box. I have shoes for each age and elegance. Businesswomen and students will find something they enjoy as well as shoppers for the edgier side. A lot of older women will walk within the store, glance at the 6-inch spikes and say, 'I can't wear these heels.' I say, browse the flats. Where do you buy shoes and does one 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 available to new designers. I search for different styles which are unique and hard to have. Right now, shoppers ought to know [industry] prices seem stable. Click here for the Shoebox Boutique styles and purchasers. |