Blog: Billions of dollars, two pairs of shoes

Joe Ayling | 21 September 2010

New York mayor Michael Bloomberg has caused a stir in the fashion world by confirming he only owns two pairs of work shoes.

Bloomberg, a billionaire, prefers to have his black loafers resoled than to buy new ones. In fact, he's had the soles of his shoes repaired so many times he can't even remember what brand they are, according to media reports.

With many celebrities having a shoe cupboard the size of a small house, his minimalist approach to footwear is somewhat refreshing - if a little worrying for retailers. Media guru Bloomberg prefers to share his wealth with a New York cobbler, who I assume is making a healthy living on tips alone.

One advantage of the 'Bloomberg method' of buying shoes is that storing the two he's not wearing is nothing more than a stroll through Central Park.


BLOG

Why digital supply chains are top of mind

Confirmation that digital supply chains are top of mind for apparel industry executives came last week with the latest plans from global sourcing specialist Li & Fung....

BLOG

Navigating global political frictions and economic uncertainty

As a barometer of the issues top of mind for apparel sourcing executives, it is hard to beat the annual Prime Source Forum in Hong Kong. ...

BLOG

Trump and Brexit generate more confusion

Over the past month, Donald Trump and his team failed to offer any clear plan to ensure Americans would "Buy American, Hire American" - while the British government's attempts to clarify the specifics...

BLOG

Bangladesh works to resolve labour activist issues

The Bangladesh government was forced to respond late last week to pressure over its crackdown on labour activists after a number of global brands and retailers, including H&M and Inditex announced pla...

just-style homepage



Forgot your password?