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post #66796 of 67946
Quote:
Originally Posted by fxh View Post

Katrina has just shifted - not gone


They did too! Now closer to my office. Will pop in tomorrow then.
post #66797 of 67946
I'd be willing to place a bet that there's 300.pairs of shoes that can be counted in the public retail space of the Melbourne store alone. And there's also a lot of shoes out the back. A round average price of $300 each would be on the Conservative low side. High end shoes are not a commodity and also do not lend themselves to JIT or much vertical integration upstream. I'd even stick my neck out and suggests it's one area where keeping substantial in inventory on the retail site is optimal.
post #66798 of 67946
I'm also pleased as usual, to concur with peterpan in that I'd expect SAT to be at least. 5m and wouldn't be surprised to hear that the 2 stores was $1m+. They know shoes, are privately held and this is (one) of, their competitive advantage. No Zara, H&M or uniglo can enter the space. Myer, especially and DJs can't ever hold that stock, range or knowledge.
post #66799 of 67946
Biggest thing that's always surprised me with DM is their lack of an online store, even if it just covered Australia wide.
post #66800 of 67946
I think the more important question is the size of the high end shoe market.

The answer to that should drive your capital investment and inventory.

I always assumed it to be relatively small. 7 million people between Sydney and Melbourne. 3.5million men to be simple. Probably 20% or less have earning capacity to support high end shoes. 700k people - how many of those are interested in buying high end shoes?

1/20? 1/50? Of those, how many buy online because it's cheaper?

How often are people buying high end shoes?

We may be biased on this forum into thinking this market is bigger than it is.
post #66801 of 67946

Glad to read this morning that Bronwyn Bishop is staying on in Federal Parliament to fight terrorism.

 

I understand she made this decision after undertaking aerial surveys of the situation via helicopter, on her way to Xmas drinks where the announcement was made.

post #66802 of 67946
To weigh in on the double monk debate, I'm pretty sure that suppliers would help them out with extended terms when they to open up a new store. It's not as basic as dropping $300,000 in one go.

For an operation like theirs the delay in opening the shop would probably be due to the fit out. Custom joinery takes a fair amount longer to make vs your standard storefront slap up. If they are keeping with the same aesthetic as the Melbourne store this would most likely be the hold up.
post #66803 of 67946
Quote:
Originally Posted by crappbag View Post

I think the more important question is the size of the high end shoe market.

The answer to that should drive your capital investment and inventory.

I always assumed it to be relatively small. 7 million people between Sydney and Melbourne. 3.5million men to be simple. Probably 20% or less have earning capacity to support high end shoes. 700k people - how many of those are interested in buying high end shoes?

1/20? 1/50? Of those, how many buy online because it's cheaper?

How often are people buying high end shoes?

We may be biased on this forum into thinking this market is bigger than it is.

 

At the same time, the trunk shows are always filled with people making orders and most times I've been in there, there have been one or two other customers buying a pair of shoes. They're getting constant sales and repeat customers.

post #66804 of 67946
Quote:
Originally Posted by crappbag View Post

I think the more important question is the size of the high end shoe market.

The answer to that should drive your capital investment and inventory.

I always assumed it to be relatively small. 7 million people between Sydney and Melbourne. 3.5million men to be simple. Probably 20% or less have earning capacity to support high end shoes. 700k people - how many of those are interested in buying high end shoes?

1/20? 1/50? Of those, how many buy online because it's cheaper?

How often are people buying high end shoes?

We may be biased on this forum into thinking this market is bigger than it is.
No I believe the market is definitely small. DM market is an even smaller subset of what you mention as the brands are on the more obscure side as they're not heavily marketed. When high end is mentioned most people think Guccis, Armanis or Ferregamos and Ballys. No one even heard of Lobbs unless they care a bit about shoe manufacturing.
post #66805 of 67946


Wouldn't the same apply to bespoke tailors in Australia?

 

The market's very small, but it sustains the good ones.

post #66806 of 67946
Absolutely, but they don't have to hold stock of anything. Even cloth is ordered in to order.

That goes back to my point on the webshop. That small market pointed out above is made even smaller if they can only serve those ones that can come in to their shop. You could cover a much larger part of it with a webstore, even if there were limitations on where they could be posted or say only having some brands on there.
post #66807 of 67946
Then I guess they would be competing against the Herrings and Pediwears of this world, and on price they simply wouldn't. A major part of DM's appeal is that they are a real store where you can get fitted, with exclusive brands and expert advice.

Opening up a web store runs against their overall strategy which is to differentiate themselves from the purely online guys, who will always be able to offer some brands 10-20% cheaper. There are also some logistical barriers such as high cost of postage in Oz compared to domestic EU, plus they would have to deal with all the returns etc. which from Foxy alone would run into the 10s of '000s.

Anyway, I'm less interested in their business model as I am their shoe models!
post #66808 of 67946
Quote:
Originally Posted by Gerry Nelson View Post
 

 

At the same time, the trunk shows are always filled with people making orders and most times I've been in there, there have been one or two other customers buying a pair of shoes. They're getting constant sales and repeat customers.

 

Exactly. It's a niche market but, like expensive watches, it can be a lucrative area, particularly once you build up a good rapport with customers. 

 

Let's face it - Double Monk only needs to find a few customers like wurger, and they'd break even without any problems at all! :p

post #66809 of 67946
Quote:
Originally Posted by Journeyman View Post
 

 

Exactly. It's a niche market but, like expensive watches, it can be a lucrative area, particularly once you build up a good rapport with customers. 

 

Let's face it - Double Monk only needs to find a few customers like wurger, and they'd break even without any problems at all! :p

 

Their business is not limited to shoes alone. Their various accessories eg belts, shavekits, shoehorns, umbrellas, colognes etc would all be very high margins too. Plus it is a growing market.

post #66810 of 67946
Quote:
Originally Posted by Oli2012 View Post

Any suggestions for GFs xmas present?

Up to $300.

Must be "sentimental".

You are getting GeoffreyFirmin an Xmas present? God you two are cute. I suggest Keating's new biography or a red telephone.
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