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Pioneering Footwear Startup Shoes of Prey Is Out of Business

A decade after its launch, Shoes of Prey has announced its collapse into liquidation.
Over the years, the Australian footwear startup — founded in 2009 by husband-and-wife team Michael and Jodie Fox, as well as Mike Knapp — challenged the traditional retail model through a business centered on mass customization, allowing shoppers to design their own shoes.
The company moved to the United States in 2015 and expanded the team to about 200 members. It had secured investments from Blue Sky Capital as well as Atlassian CEO Mike Cannon-Brookes and venture capitalist Bill Tai, eventually growing into a multimillion-dollar company that dabbled in brick-and-mortar while maintaining a made-to-order digital shopping experience. It also nabbed a buzzy partnership with Nordstrom, where it launched several shop-in-shops.
However, the company’s niche model fairly quickly hit hard times, and Michael Fox penned a blog post on Medium this week describing a “decision paralysis” among mass-market consumers that contributed to the firm’s undoing.
“Despite all the right trends towards personalization and our success within the customization niche, contrary to our market research, the mass-market fashion customer just didn’t respond as we expected,” the post read. “We learned the hard way that mass-market customers don’t want to create; they want

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Via:: https://footwearnews.com/2019/business/retail/shoes-of-prey-liquidation-out-of-business-1202759927/