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NBA wife Warneshia Wallace's passion 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 in an annual rate around 11.2 percent through 2018, based on a report from Ibisworld.com. Entrepreneur Warneshia Wallace has included with the mix with The Shoe Box, a small business that encompasses both a physical shoe store in Birmingham, Alabama plus 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 the opening of her web shop. 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 the Air Force from 2001 to 2007. How do you decide to find a shoe-related business? I've had desire for shoes since I was obviously a kid. Every time a new style came out, I had to own them in 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 wish to work for anyone, so I wanted to do something I love and I love shoes. How did the Air Force help you develop your business knowledge? I always planned to open a shoe store, plus the military I was benefiting from 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 as you go along. How were the organization classes helpful and they are you gonna open another shoe store? Financially, it helped me learn about budgeting. I have a difficult time budgeting therefore the advice taught me to be 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 understand. It seems easy and simple to do but as you go along if I stumble, I'll reunite up. Who's your customer? The designs are sassy, edgy, as well as for women who love to step out of the box. I have shoes for each age and magnificence. Businesswomen and students will discover something they enjoy as well as shoppers around the edgier side. A lots of older women will walk inside the store, look at the 6-inch spikes and say, 'I can't wear these heels.' I say, check out the flats. Where would you buy shoes and can you look at new designers? Fallon Seaborn is our shopper and he or she investigates the brands. My advice to designers is I'm into everything. I don't just replace on myself and I'm available to new designers. I try to find different styles which can be unique and hard to obtain. Right now, shoppers should be aware of [industry] prices seem stable. Click here for the Shoebox Boutique styles and purchases. |