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NBA wife Warneshia Wallace's adoration for shoes becomes 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 expected to continue growing with an annual rate of about 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 a physical shoe store in Birmingham, Alabama as well as an edgy, online presence. I visited with Warneshia in Hollywood throughout a shoe party she held with celebrity stylist/designer Fallon Seaborn to create 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 desire for shoes since I would be a kid. Every time a new style arrived on the scene, I had to get them in 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 desired to do something I love and I love shoes. How did the Air Force assist you to develop your business knowledge? I always wished to open a shoe store, plus the military I was benefiting from the free schooling. I found out about 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 along the way. How were the business classes helpful and are you going to open another shoe store? Financially, it taught me to be learn about budgeting. I have a difficult time budgeting therefore the advice reduced the problem make decisions in connection with marketing and also other expenses. I'll give myself 2 to 5 years before I break out and open another store. There's a lot to learn. It seems easy and simple to do but as you go along if I stumble, I'll get back up. Who's your customer? The designs are sassy, edgy, and for women who prefer to step out of this area. I will have shoes for every single age and magnificence. Businesswomen and students will find something they like as well as shoppers about the edgier side. A lots of older women will walk inside store, go through the 6-inch spikes and say, 'I can't wear these heels.' I say, check out the flats. Where does one buy shoes and would you look at new designers? Fallon Seaborn is the shopper and she or he investigates the brands. My advice to designers is I'm into everything. I don't just buy for myself and I'm open to new designers. I look for different styles which are unique and hard to obtain. Right now, shoppers should be aware of [industry] prices seem stable. Click for the Shoebox Boutique styles and purchases. |