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

A deep dive to unlocking digitisation's potential

So far, the promise of digitisation in the apparel industry remains largely unfulfilled. But with opportunities for new cheap supplier countries nearly exhausted, it is now seen as offering sourcing e...

BLOG

Kingpins Goes to DC – Watch now

The challenges and opportunities facing today’s textile and apparel industry is also explored in the second in a series of expert panel discussions that is now available to watch on demand...

BLOG

Industry outlook positive but disruptive

How is the global apparel sourcing landscape changing? According to executives at last month’s MAGIC fashion trade show in the US, "speed-to-market," "product differentiation" and "inventory control" ...

BLOG

Speed-to-market can be slow to achieve

It's easy for brands and retailers to see how they can potentially benefit from a successful speed-to-market program – but the irony is that without the support of strategic suppliers, it can be a lon...

just-style homepage



Forgot your password?