Women’s Wear Daily
04.16.2014
people
people

Shoe Execs' Silver Lining Playbook

Some of the industry's most celebrated executives weigh in on the ups, the downs and the greatest learning experiences.

people/news
View Slideshow

Ken Hicks

Photo By Courtesy of Footlocker

Sam and Libby Edelman

Photo By Kyle Ericksen

For many powerful footwear executives, the rise to the top came from an unlikely source: a mix of business failures, flops and financial miscues.

But the best of today’s leaders turned those mistakes — some of which occurred in the early days of their careers, others midway through and yet others during the recent recession — into learning opportunities.

Donald Pliner, for one, understands that challenges can make one stronger.

The designer, who has struggled with both financial and legal troubles over the course of his career, told Footwear News he has learned that in times of trouble sometimes the only thing to do is keep going forward.

“I’ve lost everything in my life three times over,” he said, “but I’m taking a few steps back to take a bunch of steps forward.”

In Sam Edelman’s case, it wasn’t until being seriously injured in a horse riding accident in 2002, which ended his stint as a horse breeder and trainer, that he realized his real love was the fashion business.

Formerly the president of footwear at Esprit and co-founder of Kenneth Cole Productions Inc., Edelman said “it happened by accident” that he rejoined the shoe business after selling his Sam & Libby label to Maxwell Shoe Co. in 1996.

Meanwhile, other executives were changed for the better by picking up skills with each new opportunity.

Take Ken Hicks, chairman, president and CEO of Foot Locker Inc. He may run a sportswear chain with great aplomb now, but he recalls being completely wet behind the ears when he was fresh out of the U.S. Military Academy at West Point, in 1974.

“The only thing I knew how to do really well [upon graduating] was shoot cannons, which doesn’t work well in the real world,” quipped Hicks, who went on to earn an MBA from Harvard Business School, complete a consulting stint at McKinsey & Co., work his way through various planning and merchandising posts at department stores and land as president of Payless ShoeSource.

And if it weren’t for the Arab-Israeli conflict, Bob Goldman isn’t sure he’d even be a footwear manufacturer today. Goldman launched Cels Enterprises in 1971 as a fixturing outfit, selling the Modu Mode self-service shoe rack, of which Sears ordered 1 million units for Christmas 1973. Barely a week later, news of the Six-Day War sent “the price of plastic up three times and we couldn’t deliver at the price we sold it at,” Goldman recalled. He had to find something else to do — fast — and Chinese Laundry was born.

Sportie L.A. co-owner Isack Fadlon turned away from a full-time law career in favor of sneakers. And the reason, he explained, was simple. “In law, every day I’d wake up and destroy something,” Fadlon said. “In business, I felt like every day I could build and create something.”

Here, FN takes a closer look at the careers of five executives, the mistakes they’ve made along the way and how they’ve learned from those missteps.

Ken Hicks
Chairman, president & CEO, Foot Locker Inc.

What was your biggest career mistake and how did you overcome it?
KH: Early in my career, at May Department Stores, I had a new fixture made to display self-serve flatware in the silver department. We rolled it out to all the stores at once. The problem was the silverware didn’t fit properly, the brackets broke and were not replaceable, and the fixtures were scratched because of how the silverware sat on it. Also, I [failed to consider] that different silverware came in different sizes and they didn’t all fit. It was a $150,000 to $200,000 mistake. It was all the display money I had. I bet it all and screwed up.

What did you learn from that?
KH:
I learned to test everything before rolling it out. Just because it’s a good idea doesn’t mean it’s a perfect idea and will work under all conditions.

What continues to challenge you?
KH:
I’ve gone from Payless, where we made all our shoes, to [Foot Locker], where we make none of our shoes. The biggest adjustment is learning how to adapt to the changes in each business. The challenge of a vendor is to continually come up with new ideas that maintain viability and build on the brand, but retailers work much harder than vendors.

Was there any job you passed up along the way that you still wonder about?
KH:
A number of significant opportunities at very big retailers have come up, but the fit just wasn’t right for me. I’ve been fortunate to get all these offers. Clearly, people felt positive enough to give me a shot. This job [at Foot Locker] was right. I knew shoes, I saw the opportunities and it kept me involved in sports, which I love. I like to say, “If you move, make sure you’re running to something, not from something.”

Is there anything you’ve regretted doing?
KG:
I never look back and say, “Geez, I could’ve done this or that.” I always look forward and do the best with what I’ve got. I could’ve stayed in the Army, but if I did, I’d be retired by now. The only thing I didn’t enjoy doing was the one year I spent in Chuncheon, South Korea, from 1976 to 1977. I was allowed only one 10-minute phone call a month to my wife. At $10 per minute, [you can imagine what the] bills added up to.

Sam Edelman
President, Sam Edelman division, Brown Shoe Co.

What was your biggest career mistake and how did you overcome it?
SE:
Selling Sam & Libby in 1996 was the single worst decision of my career. I had a non-supportive board and maybe I was tired. I’d done a lot. Fortunately, we made a great decision in 2012 [to buy it back as part of Brown]. So we never think back anymore. All we do is think forward.

What did that episode actually teach you?
SE:
It taught me that when the going gets tough, the tough get going. It taught me that anything worth having is worth fighting for. And I learned that lesson really, really well. I’ve taught it to my son, who works for Brown Shoe today as an executive in our division. We never lose sight of that. We came back with a tremendous amount of energy. We’re very fortunate that Brown Shoe came in, first as our partner and now as our owner, and it’s been great.

Is there anything you would have done different?
SE:
That’s a great question. In my early 30s, I went to Esprit and if I had my choice I would’ve stayed there the rest of my life. It was a great job. But things changed at Esprit — management and other stuff — and I sort of was catapulted into starting my own company with my wife, Libby. I had many opportunities when I left Esprit, but nothing seemed as natural as starting our own company. It didn’t happen because I wanted it to, but it was probably the best thing that ever happened to us because we’ve established Sam & Libby into a very powerful brand.

What continues to challenge you?
SE:
Opening seven to eight stores within the next year, for sure. There’s a lot of pressure on me to design and develop a men’s line. I’m not saying officially whether I’m doing it, but there’s a lot of pressure on me to do it. I may do it. Then, there’s a tremendous amount of brand extension and licensing. We have some really exciting categories that we hope to launch in 2013 and 2014, both nationwide and international.

What lesson are you still learning today?
SE:
Fashion changes all the time and you have to be on top of it. That, and never read your own press.

View Slideshow
Page: 
  • 1
  • 2
Next »
VIEW ARTICLE IN ONE PAGE
load comments

ADD A COMMENT

Sign in using your Facebook or Twitter account, or simply type your comment below as a guest by entering your email and name. Your email address will not be shared. Please note that WWD reserves the right to remove profane, distasteful or otherwise inappropriate language.

Ads by Google

Newsletters
Newsletters

Sign upSign up for WWD and FN newsletters to receive daily headlines, breaking news alerts and weekly industry wrap-ups.

Publications

ArticleFinder

Footwear News


Choose By

Clear

How it works

Close

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.


Or