Shoes of Prey, a beloved custom footwear brand, has made the difficult decision to enter voluntary administration as it faced mounting challenges in the competitive retail market. The Australian start-up, founded in 2009 by Michael Fox, Jodie Fox, and Mike Knapp, had captured the hearts of consumers with its innovative online platform that allowed customers to design and order personalized shoes with ease.
Sadly, despite its best efforts, the brand struggled to keep up with consumer trends and preferences for ready-to-wear styles endorsed by popular figures. In a heartfelt article penned by Michael Fox on Medium titled “Shoes of Prey Journey Comes To An End,” he highlighted the shift in consumer behavior towards convenience and brand names, which ultimately led to the decline of the brand’s appeal.
Moreover, increasing competition from low-cost manufacturers in China also posed a significant challenge for Shoes of Prey, making it difficult for the brand to maintain its position in the market. The company’s financial woes became apparent in March 2018 when it sought additional funding to stay afloat. By August of the same year, Shoes of Prey found itself unable to fulfill orders, marking a turning point in its journey.
The closure of Shoes of Prey comes amidst a difficult period for the Australian retail sector, which has seen the administration of several prominent fashion and beauty brands in recent months. The challenges faced by Shoes of Prey serve as a sobering reminder of the evolving landscape of retail and the importance of staying attuned to consumer preferences and market dynamics.
For more information on the retail industry in Australia, you can visit the following links:
Retail Council of Australia
Retail Insights Blog
