Styletread reaches major milestone
Online shoe retailer Styletread has reached a major milestone this month, marking $100 million in revenue since it was founded in 2010.
It now has its sights on the international market.
The company has seen solid growth since being bought by the Munro family in 2013 with $23 million in turnover in the last financial year.
This success comes despite a tough retail environment and amid growing speculation about the impact Amazon will have on the local market.
But Lee Munro, Styletread’s managing director, said the company is looking forward to Amazon’s arrival.
“We are looking to partner with Amazon and list more local brands online. It presents a real opportunity for us to expand,” he said.
Munro credited his passionate buying team for much of the team’s success as fashion trends continue to evolve faster than he has ever seen.
“With the growth of online retailers, customers have more reach, they are more aware of what’s on offer and they are more susceptible to influence. They see the latest celebrity trend and look to buy it online,” he said.
“Luckily, we have a fantastic buying team that is able to stay on top of these trends while also looking out for added value, such as fit and comfort.”
Having grown up above his parents’ shoe factory, Munro has lived and breathed shoes since he was a young boy, seeing trends and brands come and go. He said strong demand for brands such as Birkenstocks and Django and Juliette, had helped nudge the team over the $100 million mark.
Munro said the company’s achievement has motivated them to continue to hero Australian brands and good-quality shoes.
“This is proof that we are on the right track to keep growing and to reach our next big goal, which is to take the Styletread offering international. We want to take Australian brands to the international stage,” he said.