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NBA wife Warneshia Wallace's desire for shoes gets 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 at an annual rate around 11.2 percent through 2018, in accordance with a report from Ibisworld.com. Entrepreneur Warneshia Wallace has added to the mix with The Shoe Box, a company that encompasses both an actual shoe store in Birmingham, Alabama and an edgy, online presence. I visited with Warneshia in Hollywood during a shoe party she held with celebrity stylist/designer Fallon Seaborn to create new friends and kick off 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 did you decide to take up a shoe-related business? I've had passion for shoes since I would have been a kid. Every time a new style arrived, I had to get them within my room and I didn't love the brand. Any shoe I liked, I got it. I retired from your Air Force and didn't want to work for anyone, so I wished to do something I love and I love shoes. How did the Air Force assist you to develop your company knowledge? I always planned to open a shoe store, and in 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 in the process. How were the company classes helpful and so are you gonna open an extra shoe store? Financially, it solved the problem learn about budgeting. I have a hard time budgeting and so the advice helped me make decisions related to marketing and other expenses. I'll give myself 2 to 5 years before I break out and open another store. There's a lot to find out. It seems quick and simple to do but on the way if I stumble, I'll go back up. Who's your customer? The designs are sassy, edgy, and for women who love to step out of the lamp. I will have shoes for every age and elegance. Businesswomen and students will quickly realize something they enjoy as well as shoppers on the edgier side. A large amount of older women will walk within the store, go through the 6-inch spikes and say, 'I can't wear these heels.' I say, read the flats. Where would you buy shoes and can you look at new designers? Fallon Seaborn is our shopper and she investigates the brands. My advice to designers is I'm into everything. I don't just replace on myself and I'm open to new designers. I try to find different styles which are unique and hard to get. Right now, shoppers should know [industry] prices seem stable. Click for the Shoebox Boutique styles and sales. |