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

Act now to keep receiving just-style newsletters

You may have noticed a red alert bar at the top of just-style’s weekly and daily newsletters asking you to “Act now to keep receiving the just-style newsletter.” ...

BLOG

Apparel imports into the US rose in June

Apparel imports into the US rose in June as merchants stocked up for summer and prepared for the back-to-school season, with imports from Vietnam continuing to surge....

BLOG

US retailers under pressure to grow sales as mall traffic slows

Under Armour is to close stores and cut jobs – around 2% of the company's global workforce – as part of new plans to build a stronger and smarter company with faster go-to-market speed and greater dig...

BLOG

Agile logistics key to new hybrid retail world

US retail giant Walmart has topped a list of the fastest growing retailers thanks to its investment in ensuring it has the right balance between its online and brick and mortar operations....

just-style homepage



Forgot your password?