Originally Posted by mebiuspower
Was at LF few weeks back and the don't have much stock on anything less than $2k. Alden rep was actually there doing an order but otherwise that place is quiet as hell.
They're asking for silly money for Carminas. I guess they have to pay for the Yorkville rent somehow.
Originally Posted by ino68
I wonder who owns LF, their brand roster seems to always be in flux, hard to make steady sales like that!
Maybe it's a side project or diversification effort of some highly successful businessman
Originally Posted by stanchri
I have met the owners. It's 2 gentlemen that got together to bring quality footwear to Toronto after seeing the lack of, as they put it.
I feel they were much more engaged and successful at first in all regards. As pointed out multiple times here, the store is most often empty which can definitely attest to that.
They had plans to open shop downtown in the financial district to be close to the bankers. This was supposed to happen over half a year ago. Same with opening shop overseas.
IMHO they would be better off asking normal prices, carrying more mid range names and stock, and having quantity sold to a solid client base as opposed to raising prices to pay Yorkville rent off one pair of shoes.
To clarify some of your points and speculations.
It's quite unfair to conclude our prices are much higher than in other stores. Please note that we pay more than double the import duties our competitors in the US or EU pay. I've been very transparent with our pricing and the business operation at LF, what you tend to forget is that besides the higher taxes, import duties and cost of transportation, we've always sold our shoes at a price on par with the US stores or even cheaper most of the time. You also have to consider that the CAD is so much weaker against the Euro, USD and Starling (which are the currencies we have to convert our weaker CAD to to pay for goods). All our competitor have a significantly higher margin on their shoes than we can ever dream to have.
I didn't know these things myself until I started LF, when I realized I vowed to still remain different than the other Canadian retail stores, and reduce our margin to keep prices at par. A lot of people do not pay attention to all that is stacked against us. LF concept is something I'm truly passionate about and have prided myself in being very fair. While doing business in Canada is not easy, especially as an independent, I'm committed to making it work and to provide something new and special locally.
If you take our prices and convert them to USD at the current exchange you can see we are in most cases cheaper, except for Skoak. I don't know the guys at Skoak and how they run their business and I have nothing against them, but it's impossible for us or any other retailer in the states to compete with their prices when the sell some of their shoes at my cost. I completely understand the customer will ultimately go where it's cheaper and I respect that, but one has to consider all that is stacked against being a Canadian retailer in this segment where everyone is better educated and has global access through internet. If Harry Rosen or Holts carried any of what we sell, I guarantee it would be priced 30 to 40% higher than we price our shoes.
I would also like to clarify to those that assume we have no stock or we have no business, That is not the case. A lot of our business are also MTOs, much more than all the other competitors, you can check our instagram to get an idea of how many MTOs we sell, and not all the pictures are posted all the time, as these things take a lot of time to shoot photos edit and post, yet we do more than the others. As for stock, doing business here in Toronto (CANADA) is a bit tricky, and until you are in the business you would not understand. While we do sell more stock than you may assume, we also have to study what works and make adjustments accordingly in other to remain in business. This is not to say we haven't had our little struggle as a new business.
That said, I'm quite confident you will soon see what we've been working on and I hope you would be proud.
My intentions are not to offend anyone here, and I hope I don't get misunderstood. I'm not in any way arrogant or intend to be, I just have been reading so many wrong information coming up here and I felt it was time to clarify so our SF family can properly understand and get information directly from me.
Our new store is being built, and our new website is now live but still being improved. Lots of stock and exciting brands will coming in a few weeks, and the reason we don't have 10,000 boxes of shoes sitting around and looking great is because we actually sell them :)
Hope I haven't rambled too much.
I wish everyone the absolute best and I will be organizing something soon for our SF friends in our new store.